Nigeria Economy news

•Food import share shrinks as total imports jump 28%By Babajide KomolafeNigeria’s spending on food imports declined by 7.4 per cent, year-on-year to $2.34 billion in 2025, signaling a moderation in the country’s dependence on imported food products despite a  sharp increase in overall import expenditure. Data on food imports obtained from the Central Bank of Nigeria, CBN, quarterly statistical bulletin, fourth quarter 2025. Q4’25  showed that food imports f

By Efe Onodjae The Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dayo Mobereola, has reaffirmed Nigeria’s commitment to strengthening regional maritime integration, cooperation and capacity development across Africa. Mobereola made the pledge while receiving the Honorary Consul of Liberia in Lagos, Dapo Akinosun, at the NIMASA headquarters in Lagos.He described the engagement as a reflection of the longstanding relationship between Nigeria

By Emma Ujah, Abuja Bureau ChiefGovernor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has re-assigned all four deputy governors of the institution.The new responsibilities announced Monday night have seen Mr Philip Ikeazor taking over the policy portfolio from Dr. Muhammad Abdullahi.Dr. Abdullahi moved from the Economic Policy Directorate to head Corporate Services.Ms. Emem Nnana Usoro leaves corporate services to supervise operations.Mr. Lamido Yuguda was transferred from Operations