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CBN Scraps Pandemic-Era Dollar Account Restrictions as Forex Liquidity Improves

CBN Scraps Pandemic-Era Dollar Account Restrictions as Forex Liquidity Improves

The Central Bank of Nigeria (CBN) has removed several foreign exchange restrictions introduced during the COVID-19 pandemic, marking another step in its efforts to improve access to foreign currency and strengthen confidence in Nigeria’s foreign exchange market. The move comes as the apex bank says dollar liquidity has improved significantly, reducing the need for some

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Cross River Targets ₦150bn Agribusiness Investment Deal

Cross River Targets ₦150bn Agribusiness Investment, Secures ₦18bn Produce Offtake Deal

Cross River State has announced plans to attract ₦150 billion in agribusiness investments over the next six years as part of a broader strategy to transform agriculture into a major driver of economic growth, job creation, and food security. The target was disclosed during a stakeholders’ engagement on Project GROW, an agricultural development initiative aimed

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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

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

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’s Textile Industry Then and Now: Progress, Setbacks, and the Road Ahead

For decades, Nigeria’s textile industry was one of the country’s most important manufacturing sectors. Textile mills operated across major cities, cotton farmers supplied raw materials, and hundreds of thousands of Nigerians found employment in factories that produced fabrics for local use and export. At its peak, the industry was a symbol of industrial growth and

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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

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

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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Nigeria Once Had Africa’s Most Respected Universities. What Happened?

There was a time when Nigerian universities were among the most respected on the African continent. Students from different parts of Africa travelled to Nigeria in search of quality education. A degree from institutions like the University of Ibadan, Ahmadu Bello University, the University of Nigeria Nsukka, and later the University of Lagos carried prestige.

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The Problem With Projects That End at the Ribbon Cutting

Across Nigeria, it is not difficult to find projects that once attracted applause but now sit neglected. A newly commissioned water facility that no longer supplies water. A healthcare centre with broken equipment. Streetlights that stopped working months after installation. A community market that has gradually fallen into disrepair. For many Nigerians, these scenes have

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