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Economy

Naira Stability Debate: Why Prices Remain High in Nigeria

NAIRA STABILITY DEBATE: WHY LOWER FX RATES HAVEN’T REDUCED PRICES IN NIGERIA

Economy /

In 2026, Nigeria has recorded periods of improved foreign exchange stability compared to previous years, with the naira showing less volatility in official and parallel market trends. Policymakers have pointed to tighter monetary measures, improved dollar inflows, and reduced speculative pressure as key drivers of this relative stability. Despite these developments, prices of goods and […]

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Nigeria Cost of Living: What ₦10,000 Buys in 2026

Nigeria’s Rising Cost of Living: What ₦10,000 Can No Longer Buy in 2026

Economy /

In 2026, the value of ₦10,000 in Nigeria has significantly declined in terms of purchasing power. Across food markets, transport routes, and basic household needs, the amount now covers far fewer essentials than it did in previous years. Inflation, fuel price increases, exchange rate pressure, and rising logistics costs continue to influence the prices of

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Creative Economy Reforms Earn Industry Support

Creative Economy Reforms Earn Industry Support

Economy /

Stakeholders in Nigeria’s creative industry have expressed support for ongoing reforms aimed at strengthening the country’s creative economy, describing recent government initiatives as important steps toward empowering young talents, creating jobs, and expanding opportunities within the sector. The stakeholders made their views known during a gathering of industry professionals, where discussions focused on the future

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Is Nigeria's Economy Improving? What the Numbers Say

Is Nigeria’s Economy Turning a Corner or Are Nigerians Yet to Feel It?

Economy /

Nigeria’s economy is showing signs of improvement on paper. Government revenue is rising, economic growth forecasts have become more positive, and investors are beginning to show renewed interest in the country. To economists and policymakers, these are encouraging signals that the economy may be moving in the right direction. Yet for many Nigerians, a different

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Why More Nigerians Are Struggling to Save Money Despite Working Full-Time

Why More Nigerians Are Struggling to Save Money Despite Working Full-Time

Economy /

For many Nigerians, having a full-time job no longer guarantees financial stability. Across the country, workers are increasingly finding it difficult to set money aside at the end of the month despite earning regular incomes. While employment was once viewed as a pathway to financial security, rising living costs and economic pressures have made saving

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FG Ends Mandatory Three-Month Pre-Retirement Leave for Civil Servants

FG Ends Mandatory Three-Month Pre-Retirement Leave for Civil Servants

Economy /

The Federal Government has directed all Ministries, Departments and Agencies (MDAs) to stop the practice of placing civil servants on a mandatory three-month pre-retirement leave, saying such a provision does not exist in the Public Service Rules. The directive was issued by the Head of the Civil Service of the Federation, Didi Walson-Jack, in a

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Beyond Transportation: The Economic Impact of Nigeria's Railways

Beyond Transportation: The Economic Impact of Nigeria’s Railways

Economy /

Transportation is often viewed simply as a means of moving people from one location to another. Yet for nations seeking economic growth, transportation infrastructure serves a much larger purpose. It connects markets, reduces business costs, improves productivity, and drives development. Among the various modes of transportation, railways have historically played a critical role in supporting

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Nigeria Once Led the World in Palm Oil. What Changed?

From Global Leader to Major Importer: The Story of Nigeria’s Palm Oil Decline

Economy /

There was a time when Nigeria stood at the centre of the global palm oil industry. Long before crude oil transformed the nation’s economy, palm oil was one of Nigeria’s most valuable exports. The country supplied international markets, generated foreign exchange, created jobs, and supported millions of livelihoods across rural communities. Today, the story is

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When Groundnut Pyramids Defined Nigeria’s Economy

When Groundnut Pyramids Defined Nigeria’s Economy

Economy /

Long before crude oil became the backbone of Nigeria’s economy, groundnuts helped build the nation. For decades, Nigeria was one of the world’s leading producers and exporters of groundnuts, commonly known as peanuts. The crop generated foreign exchange, created jobs, supported rural communities, and contributed significantly to government revenue. At the centre of this success

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More Young Nigerians Are Leaving in Search of Opportunities

More Young Nigerians Are Leaving in Search of Better Opportunities

Economy /

Across airports in Lagos, Abuja, Port Harcourt, and other major cities, a familiar story continues to unfold. Young Nigerians are leaving. Some are heading to the United Kingdom for postgraduate studies. Others are relocating to Canada, Australia, the United States, and several countries across Europe and the Middle East. For many, the journey represents more

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