The Federal Government welcomes Moody’s Investors Service’s latest upgrade of Nigeria’s long-term foreign-currency issuer rating from Caa1 to B3, with a Stable Outlook. This is a significant vote of confidence in the country’s economic direction and ongoing reform agenda. This upgrade reflects growing international recognition of Nigeria’s progress in stabilising its macroeconomic environment, enhancing fiscal transparency, improving debt sustainability, and …

Nigeria’s top leaders in business, policy and development will gather in Kano on Thursday, 5 June 2025, for the next edition of the For The Love of The Country (FLOC) conference. This year’s theme, ‘Reimagining Nigeria’s Economy for a Prosperous Future: Where We Should Be in the Next Decade’, is designed to ignite bold conversations about the country’s economic future. …

Nigeria’s solid minerals sector attracted over $800 million in processing projects in 2024. It also generated over N38 billion in revenue in 2024, up from just N6 billion the previous year, despite receiving only 18 per cent of its N29 billion budgeted allocation. The Minister of Solid Minerals Development, Dr Dele Alake, revealed this during a feature interview for an …

The Nigeria Customs Service (NCS) has recorded an unprecedented revenue of ₦1.3 trillion in the first quarter of 2025, more than double the ₦600 billion collected during the same period in 2023. Comptroller-General (CG) of Customs Bashir Adewale Adeniyi attributed this remarkable growth to transformative reforms under President Bola Tinubu’s Renewed Hope Agenda, as revealed in an upcoming State House …

President Bola Tinubu, on Thursday, urged the new Nigerian National Petroleum Company Limited (NNPCL) board to consolidate the gains of the ongoing economic reforms. In a statement by the presidential spokesman, Bayo Onanuga, the President said the reforms have attracted commendations for the resilience and competitiveness of the Nigerian economy. Speaking at the inauguration of the NNPCL board at the …

At the recently concluded IFC 2025 African Equity Forum in Lagos, held under the theme, global investors, and industrial leaders gathered to evaluate the continent’s investment landscape and co-develop strategies to strengthen local value chains. In his keynote address, Chairman of McKinsey Africa, Acha Leke charted Africa’s economic evolution, noting the shift from investor skepticism in the early 2000s to …

The Chinese Ambassador to Nigeria has harped on the imperative of enhanced collaboration between the two countries in unlocking the potential of latter’s solid minerals sector through the establishment of electric vehicle factories in Nigeria. While paying a courtesy visit to the Minister of Solid Minerals Development, Dr. Dele Alake in his office at the weekend, the Chinese Ambassador to …

Foreign investors have pulled out N420.37 billion from the Nigerian equities market in the first quarter of 2025. The amount, according to the latest data from the Nigerian Exchange, represent a 251 per cent increase in capital flight compared to the N119.81 billion recorded in the same period in 2024. The most dramatic shift occurred in March 2025, when total …

Nigeria is inviting global investors to join in unlocking the country’s vast potential and shaping the future of energy in Africa and beyond. At the 2025 Africa Energies Summit, which just ended in London, United Kingdom, the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engr. Gbenga Komolafe, said that the process is being handled by his agency. …

The Seme Area Command of the Nigeria Customs Service (NCS) has intercepted suspected explosive materials, including corrosive mercury, concealed inside five cartons of holy books. The intercepted dangerous items of six canisters of mercury suspected to be components of Improvised Explosive Devices (IEDs), signposts a major achievement of the Area Command in recent times. During a media briefing on Wednesday, …