Togo, Niger and Benin currently owe Nigeria about N25bn ($17.8m) for electricity supplied under bilateral cross-border power agreements, the Nigerian Electricity Regulatory Commission (NERC) has disclosed. In its Q3 2025 report, NERC said the three countries were invoiced $18.69m for electricity supplied during the quarter but paid only $7.12m, leaving a large portion unpaid. The commission also...
Category: Business and Economy
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Daily FX Rate for Thursday, January 8, 2026.
NGN → USD Rates NFEM (Official) Rate Official Market: Parallel Market: Market Drivers and Outlook Several factors are influencing the current strength of the local currency:Increased Reserves: The optimistic outlook for Nigeria’s external reserves is providing a psychological cushion for the Naira. Refinery Impact: The expansion of domestic refining capacity, particularly from the Dangote Refinery,...
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China Announces Another New Trade Measure Against Japan As Tensions Rise
China escalated its trade tensions with Japan on Wednesday by launching an investigation into imported dichlorosilane, a chemical gas used in making semiconductors, a day after it imposed curbs on the export of so-called dual-use goods that could be used by Japan’s military. The Chinese Commerce Ministry said in a statement that it had launched...
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Daily FX Rate for Wednesday, December 7, 2026.
NGN → USD Rates NFEM (Official) Rate Official Market: Parallel Market: Market Drivers: Imported goods and living costs continue to react quickly to any movement in the foreign exchange market. Analysts attribute the relative stability to balanced demand for school fees and seasonal imports. OUTLOOK: Attention is now turning to the Central Bank of Nigeria’s policy...
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Daily FX Rate For Tuesday, December 6, 2026.
NGN → USD Rates NFEM (Official) Rate Official Market: Parallel Market: Market Drivers: Imported goods and living costs continue to react quickly to any movement in the foreign exchange market. Analysts attribute the relative stability to balanced demand for school fees and seasonal imports. OUTLOOK: The wide gap between both markets remains under close watch by...
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Daily FX Rate for Monday, December 6, 2026.
NGN → USD Rates NFEM (Official) Rate Official Market: Parallel Market: Market Drivers: Market watchers link the slower divergence to tighter monetary controls and reduced speculative activity. Market analysts note that the volume of liquidity in the official window remains a key factor in price discovery as the government continues its efforts to unify exchange rates....
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President Bola Tinubu’s New Year Message To Nigerians Titles ‘2026: The Beginning Of A More Robust Phase Of Economic Growth’
Fellow Compatriots, I welcome you all to 2026, with gratitude to God and confidence in our collective resolve that this new year will be a more prosperous one for our nation, our citizens, and all who call Nigeria home. During 2025, we sustained the momentum on our major reforms. We had a fiscal reset and...
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Bulgaria Adopts Euro As 21st Eurozone Member
Bulgaria replaced the lev with the euro at a fixed rate of 1 euro = 1.95583 leva, celebrated by the ECB lighting its headquarters in Bulgarian flag colors. EU leaders like Ursula von der Leyen praised the milestone for promising easier payments, travel, and business opportunities, while economists predict modest GDP boosts from investment and...
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