Economy Archives - Page 6 of 10 - Independent Digital News Network

Nigeria’s External Reserves Hit $42bn, Highest Since 2019

Nigeria’s external reserves climbed to $42.03bn in September 2025, the highest in six years. Analysts say the rally strengthens naira stability and boosts investor confidence.

CBN Cuts Interest Rate to 27% in First Easing Since 2020

IDNN4 months ago4 months ago0

The Central Bank of Nigeria has cut its key lending rate by 50 basis points to 27%, the first easing in five years, citing disinflation and improved macroeconomic stability.

Nigeria’s GDP Growth Hits 4.23%, Labour Disputes Reality

IDNN4 months ago4 months ago0

Nigeria’s GDP expanded by 4.23% in Q2 2025, boosted by oil and non-oil sectors. But labour unions insist growth figures mask rising hardship.

Dangote accuses NUPENG of ₦50k truck levies, warns consumers will bear the cost

IDNN4 months ago4 months ago0

Aliko Dangote alleges NUPENG collects ₦50,000 per fuel truck at his refinery, warning such levies inflate pump prices and hurt Nigerian consumers.

Otedola tells DAPPMAN: Dangote refinery has ended outdated fuel supply model

IDNN4 months ago4 months ago0

Billionaire Femi Otedola says Dangote’s refinery has rendered DAPPMAN’s depot business obsolete, urging members to adapt or face bankruptcy.

Nigeria inflation rate cut likely as MPC meets after fifth month of decline

IDNN4 months ago4 months ago0

By IDNN Economy Desk Nigeria’s inflation slowed for a fifth consecutive month in August, dropping to 20.12% from 21.88% in July, according to the NBS....

Abuja-Kano road cost hits ₦761bn as Umahi sets 14-month timeline

IDNN4 months ago4 months ago0

The Federal Government says the reconstruction of the Abuja-Kaduna-Zaria-Kano road will cost ₦761bn, with a completion window of 14 months.

Abuja-Lokoja road project faces revocation threat over delays

IDNN4 months ago4 months ago0

The Federal Government has warned contractors on the Abuja-Lokoja highway that the contract will be revoked if work is not accelerated to meet deadlines.

CBN naira abuse warning: Cardoso urges Nigerians to keep currency clean

IDNN4 months ago4 months ago0

The Central Bank of Nigeria has warned against spraying, hawking, or mutilating the naira, calling it a national symbol that must be treated with respect.

FAAC Disburses ₦2.225tn to FG, States, LGs in August

IDNN4 months ago4 months ago0

The Federation Account Allocation Committee (FAAC) shared ₦2.225 trillion among the three tiers of government for August, out of a gross ₦3.635 trillion. FG received ₦810bn, states ₦709bn, and LGs ₦522bn, while oil-producing states got ₦183bn as 13% derivation. VAT and oil royalties rose, but corporate tax and imports weakened.