Nigeria Economy news

As Black Friday 2025 unfolds across Nigeria, new insights from Jumia’s third quarter, Q3’25 financial results reveal that more Nigerians are relying on digital retail to navigate inflation and rising living costs. The data points to a more deliberate, value-driven shopper, one using online platforms to stretch budgets, compare options quickly, and extract more value from each purchase.Jumia reported a 30 percent year-on-year increase in physical goods orders, while Gross M

By Babajide Komolafe, Economy EditorRenowned economist and Chief Consultant at B. Adedipe Associates Limited, Professor Biodun Adedipe, has said Lagos State must aggressively deepen wealth creation if it aims to build an inclusive, resilient, and globally competitive economy.Speaking yesterday at the Roundtable Discussion on Lagos Economic Outlook 2026, Adedipe stressed that the state stands at a pivotal moment where deliberate policies, bold investments, and strategic innovation will dete

By Babajide Komolafe, Economy EditorBanks, insurance and other financial instiutions’ contribution to the economy fell by 15 per cent to N1.512 trillion in the third quarter, Q3’25 from N1.778 trillion in the first quarter of the year, Q1’25.   This followed the second consecutive decline in the sector’s quarterly contribution to the nation’s Gross Domestic Product, GDP in the Q3’25. Vanguard analysis of the Gross Domestic Product, third q

By Babajide KomolafeThe Federal Inland Revenue Service (FIRS) has stated that Nigeria’s newly enacted tax laws are designed to strengthen economic competitiveness, attract investments and improve long-term fiscal stability.The agency also clarified that the much-debated 4% development levy on imported goods is not a new or additional tax burden, but a streamlined consolidation of several existing levies.In recent weeks, the new Nigeria Tax Act (NTA) and Nigeria Tax Administration Act

By Peter EgwuatuNigerian Exchange Limited (NGX) has introduced Commercial Paper (CP) listings, following approval from the Securities and Exchange Commission, SEC, marking another significant expansion of its product suite.This development deepens Nigeria’s short-term debt market and reinforces NGX’s role as a versatile hub for capital formation.The new listing window enables corporates and issuers to list and trade both conventional and non-interest commercial papers directly

By Babajide KomolafeNigeria’s business confidence continued its upward trajectory, as the Business Performance Index rose to 113.3 points in November, up from 111.3 points in October, according to the latest report of the Nigeria Economic Summit Group (NESG) Business Confidence Monitor (BCM).The report stated: “Nigeria’s business environment maintained its expansionary trajectory in November 2025, marking eleven consecutive months of favourable operating conditions.“The