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Nigerian entertainment industry to hit $13.6bn by 2028 — Report

The Nigerian entertainment industry is projected to hit $13.6 billion by 2028, according to a new report by the Rome Business School Nigeria. The study, titled “The Entertainment Business in Nigeria: A Model for Export,” highlights how Nigerian musicians, filmmakers, digital creators, fashion designers, and comedians are reshaping global culture. Valued at $9 billion in […]

Business

Nigeria’s box office crosses N10bn mark in August

Nigeria’s box office has hit a new milestone, raking in over N10 billion in ticket sales by the end of August 2025. This marks a 58% jump from the N6.4 billion recorded in the same period last year, underscoring Nollywood’s growing influence and the resilience of the country’s cinema culture. Cinema admissions climbed to 1.84 […]

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Nigeria’s FX reserves hit $41bn, highest in 44 months

Nigeria’s foreign exchange reserves climbed to $41.00 billion on August 19, 2025, reaching a 44-month high. Data released on the Central Bank of Nigeria website shows this is the largest reserve level since December 3, 2021, reflecting consistent external inflows in recent weeks. The recent upturn follows months of gradual decline and volatility, mainly driven […]

Exchange rate for cargo clearance hits N1605.8/$1
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Nigerian firm lands $40m Afreximbank funding for St. Kitts deep-water port

Nigerian entrepreneur and Managing Director of Aquarian Consult, Mrs. Aisha Maina, has secured a $40 million investment, backed by the African Export-Import Bank, to develop a deep-water port in St. Kitts, aimed at establishing a direct trade corridor between Africa and the Caribbean. According to the statement, the agreement, also involving the Government of St. […]

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Nigeria exploring alternatives as US tariff kicks in – Minister

A 15 per cent United States tariff on Nigerian imports is set to take effect Thursday, but Nigeria seems largely unbothered, focusing instead on regional and alternative markets. Speaking to CNN on Wednesday, Trade Minister, Jumoke Oduwole, stated that the U.S.–Nigeria trade relationship is “primarily energy-focused,” noting that the government is actively working to expand […]

Business

Nigeria’s trade mission to US set for September

The Nigerian-American Chamber of Commerce has announced plans to lead a trade and investment mission to the United States from September 9 to 15. In a statement on Tuesday, the chamber said the mission, themed “Flavours Without Borders,” will take place in Miami, Florida. The statement was jointly signed by the Acting Director-General, Wofai and […]

Nigeria borrowed money to fight Boko Haram - Oyedele
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Nigeria cuts debt servicing to below 50% of revenue

The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Mr. Taiwo Oyedele, has revealed that Nigeria now spends less than 50 per cent of its revenue on debt servicing—significantly down from nearly 97 per cent before recent economic reforms. Oyedele made the disclosure in Lagos on Monday while delivering the keynote address at […]

China’s rare earth magnet exports hit six-month high in July
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Nigeria-China ties secure $20bn investment commitments

The Director General of the Nigeria-China Strategic Partnership, Joseph Olasunkanmi Tegbe, has revealed that recent engagements between Nigeria and China have attracted investment commitments exceeding $20 billion across critical sectors of the Nigerian economy. Tegbe made this disclosure in a statement issued by the NCSP on Friday, following a media briefing in Abuja. He emphasised […]

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Why Nigeria must lift millions out of poverty – IMF

The International Monetary Fund has called on Nigeria to intensify efforts toward inclusive growth, tighten fiscal discipline, and improve domestic revenue mobilisation as crucial steps toward long-term economic stability and prosperity. In a blog post on Monday, IMF Mission Chief to Nigeria, Axel Schimmelpfennig, and Resident Representative, Christian Ebeke, praised recent reform efforts but cautioned […]

Nigeria’s non-oil exports rise to $1.79bn in Q1 2025 – NEPC
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Nigeria’s trade surplus rises over 50% amid exports surge

Nigeria’s trade surplus surged by 51.07% to N5.17 trillion in the first quarter of 2025, up from the previous quarter, driven by robust export growth. This figure is according to the National Bureau of Statistics Foreign Trade Statistics report released Wednesday. Total merchandise trade reached N36.02 trillion, a 6.19% increase from N33.92 trillion in Q1 […]

Top 10 most expensive foods in Nigeria for October 2024
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FG, Japan partner on $110m emergency loan for food security

The Federal Government has strengthened its collaboration with the Japan International Cooperation Agency to accelerate the rollout of a ¥15 billion (approximately $110 million) emergency loan aimed at boosting food security in Nigeria. This was revealed in a statement issued on Wednesday by the Federal Ministry of Finance and the Coordinating Ministry of the Economy, […]

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Nigeria falls to 66th in 2025 Global Startup ecosystem ranking

Nigeria has dropped to 66th place in the 2025 Global Startup Ecosystem Index by StartupBlink, falling two spots from 64th in 2024. In Africa, Nigeria now ranks fourth, showing the slowest growth—less than 6%—among the continent’s top seven startup hubs. StartupBlink ranks countries based on the level of startup activity, the impact and success of […]

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