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Market reforms by the Central Bank of Nigeria have driven investor interest in banking equities, raising the combined market capitalisation of twelve listed deposit money banks, including GTCO and Zenith Bank, to 25.6 trillion Naira.
Market reforms by the Central Bank of Nigeria have driven investor interest in banking equities, raising the combined market capitalisation of twelve listed deposit money banks, including GTCO and Zenith Bank, to 25.6 trillion Naira.
Market reforms by the Central Bank of Nigeria have driven investor interest in banking equities, raising the combined market capitalisation of twelve listed deposit money banks, including GTCO and Zenith Bank, to 25.6 trillion Naira.
Market reforms by the Central Bank of Nigeria have driven investor interest in banking equities, raising the combined market capitalisation of twelve listed deposit money banks, including GTCO and Zenith Bank, to 25.6 trillion Naira.
The Governor of the Central Bank of Nigeria, Olayemi Cardoso, announced that the nation's net foreign reserves have exceeded forty billion dollars. This increase represents a significant improvement in foreign exchange liquidity compared to previous levels, potentially impacting the broader financial markets.
President Bola Tinubu stated that ongoing financial reforms have stabilized Nigeria's economy, paving the way for steady growth and positive development indicators during an economic review with Deloitte Africa.
BusinessDay’s Inflation Nowcast projects Nigeria’s headline inflation to remain stable near 15.9 percent in June, supported by a stable naira. This forecast reinforces expectations that the Central Bank of Nigeria’s Monetary Policy Committee will hold key interest rates steady during its upcoming meeting.
Nigeria and Hong Kong have signed a double taxation agreement aimed at eliminating double taxation on income earned in both jurisdictions. The treaty is expected to strengthen tax cooperation and boost cross-border investments and trade between the two regions.
Renewed hostilities between the United States and Iran over the Strait of Hormuz have heightened global energy concerns, coinciding with reports that the Dangote refinery plans to sell its fuel products in dollars, affecting Nigeria's domestic energy market.
The federal government has stated that Nigeria requires approximately $38.3 billion to bridge the funding gap in its oil and gas sector. Additionally, a four trillion Naira financial reset in the power sector is expected to restore investor confidence, alongside major import duty exemptions for LPG infrastructure.
The International Monetary Fund has maintained Nigeria's economic growth forecasts at 4.1 percent for 2026 and 4.3 percent for 2027. Concurrently, S&P Dow Jones is considering a reclassification of Nigeria's market status, while global crude oil prices surged following geopolitical developments.
Shareholders of FCMB Group Plc have approved a total dividend payout of ₦23.08 billion for the 2025 financial year. The decision was reached during the company's 13th Annual General Meeting in Lagos, where shareholders also approved other board resolutions, including director re-elections.
The federal government of Nigeria has reduced import tariffs on used vehicles from 15 percent to five percent, and lowered duties on brand-new vehicles from 20 percent to 10 percent to ease importing costs.
The Stanbic IBTC Purchasing Managers' Index report for June 2026 indicates a decline in Nigeria's manufacturing output, despite overall improvements in demand driving expansion across other productive sectors of the economy.