CBN Introduces Nigerian Overnight Financing Rate
By Oluwakemi Kindness The Central Bank of Nigeria (CBN) has announced the introduction of the Nigerian Overnight Financing Rate (NOFR). The NOFR, in collaboration with the Financial Markets Dealers Association (FMDA), is a standardized benchmark aimed at enhancing transparency, strengthening monetary policy transmission, and deepening Nigeria’s money market.The Central Bank of Nigeria (CBN) has announced […]
Nigeria Rejects IMF Bailout, Backs Homegrown Reforms – Edun
By Oluwakemi Kindness Nigeria has ruled out seeking financial support from the International Monetary Fund IMF, expressing growing confidence in its homegrown economic reforms. The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, made this known while addressing African finance ministers on the sidelines of the IMF/World Bank Meetings in Washington. A […]
Tinubu Signs ₦68.32tn 2026 Budget, Extends 2025 Spending Window
By Oluwakemi Kindness President Bola Tinubu has signed the 2026 Appropriation Bill into law, approving a record ₦68.32 trillion budget aimed at driving infrastructure development, economic stability, and inclusive growth. The newly enacted budget allocates ₦4.799 trillion to statutory transfers, ₦15.8 trillion for debt servicing, ₦15.4 trillion for recurrent expenditure, and a significant ₦32.2 trillion […]
NAICOM, UNDP Partner to Expand Climate Risk Insurance
By Oluwakemi Kindness The National Insurance Commission () and the United Nations Development Programme (UNDP) have deepened collaboration aimed at expanding climate risk insurance, strengthening disaster resilience, and improving insurance penetration in Nigeria. This followed a courtesy visit by a UNDP delegation to NAICOM headquarters in Abuja, where both parties reviewed strategic areas of cooperation, […]
Edun Urges More Funding for Developing Economies Facing Global Squeeze
By Oluwakemi Kindness The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has called for expanded access to affordable financing for developing countries, stressing that global support must match the scale of current economic challenges. Edun made the call at the Intergovernmental Group of Twenty-Four (G24) news conference, held on the sidelines […]
Nigeria Can Dominate Africa’s Blue Economy – Dantsoho
By Oluwakemi Kindness The Managing Director of the Nigerian Ports Authority, Abubakar Dantsoho, says Nigeria has the capacity to dominate Africa’s blue economy if ongoing reforms in the maritime sector are sustained. Speaking at the Blue Economy Investment Summit in Abuja on Wwdnesday, Dantsoho attributed the transformation in the sector to reforms introduced by the […]
NDIC Moves to Conclude Liquidation of 89 Microfinance, Mortgage Banks
By Oluwakemi Kindness The Nigeria Deposit Insurance Corporation has commenced the process of concluding the liquidation of 89 closed microfinance banks and primary mortgage banks following their acquisition by new owners. In a statement on Wednesday, the Corporation says the move comes after the successful execution of the Purchase and Assumption (P&A) model, under which […]
Nigeria’s Debt Climbs to ₦159.28trn in 2025 — DMO
By Arinzechi Chukwunonso Nigeria’s total public debt rose to ₦159.28 trillion as of December 31, 2025, marking a steady increase driven largely by domestic borrowing, according to the Debt Management Office. The latest figures show a quarter-on-quarter rise of ₦5.98 trillion, or 3.9 per cent, from ₦153.29 trillion recorded at the end of September 2025. […]
VP Shettima, Akabueze Slams Budget Process Over unclear Laws
By Oluwakemi Kindness The Vice President, Kashim Shettima, and former Director-General of the Budget Office, Ben Akabueze, have called for urgent reforms to Nigeria’s budgeting system, warning that weak structures and poor implementation are undermining national development. They spoke at a two-day National Policy Dialogue organised by the National Assembly Joint Committee on National Planning […]
Nigeria’s Insurance Sector Hits ₦2.3trn Premiums, Assets Surge to ₦4.79trn
By Oluwakemi Kindness Nigeria’s insurance industry recorded a Gross Premium Written (GPW) of ₦2.3 trillion in the fourth quarter of 2025, highlighting strong growth in the sector. Data from the Research and Statistics Department of the National Insurance Commission (NAICOM), Abuja, showed that the industry posted a 47.3% year-on-year growth and about 36% quarter-on-quarter increase. […]