Economy - Page 10

The Economy section of The Beacon NG brings you up-to-date coverage, expert insights, and in-depth analysis on Nigeria’s financial system, markets, inflation, trade, oil and gas, foreign exchange, startups, and economic policy.

From national budget debates to global economic shifts affecting local livelihoods, we break down complex issues into clear, actionable reporting. Whether you're a business owner, policymaker, investor, or everyday reader seeking clarity on economic trends, this section helps you stay informed and ahead.

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Economy·News·News Update·Politics

Court Frees Fayose, Says EFCC Failed to Link Him to Money Laundering

The Federal High Court in Lagos has discharged the former Governor of Ekiti State, Ayodele Fayose, on charges of money laundering and theft amounting to ₦6.9 billion. Justice Chukwujekwu Aneke discharged the former governor after upholding his no-case submission filed to challenge

July 16, 2025

FG Targets 4,000MW Grid Expansion By 2026, Says Adelabu

The Federal Government is set to boost Nigeria’s grid capacity by an additional 4,000 megawatts (MW) by the end of 2026. A statement by Bolaji Tunji, Special Adviser on Strategic Communications and Media Relations to the Minister of Power, Adebayo Adelabu, disclosed

April 21, 2025

Paris Club Refund: CBN Governor, Legal Director Face N220m Contempt Suit

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, and the CBN’s Director of Legal Services, Salam-Alada Kofo, are facing contempt proceedings for allegedly failing to comply with a Supreme Court Judgement that reversed the forfeiture of N1.22 billion and N220

April 19, 2025

Economy·News·Politics

Reps Warn as SEC Denies CBEX Registration, Vows Crackdown on Fraudsters

The Securities and Exchange Commission (SEC) has declared that Crypto Bridge Exchange (CBEX) was never registered to operate as a digital assets exchange in Nigeria. The commission, in a circular dated April 17, 2025 said CBEX and its affiliates, trading under names

April 18, 2025

Dangote Refinery

JUST IN: Dangote Slashes Petrol Ex-Depot Price, Now ₦835

For the second time in the month of April, Dangote Petroleum Refinery and Petrochemicals has again reviewed its ex-depot (gantry) loading cost of petrol to ₦835 per litre. The $20bn Lagos-based refinery informed its marketers and customers of the slash on Wednesday.

April 16, 2025

Nigeria’s Inflation Jumps To 24.23% In March 2025

Nigeria’s headline inflation rate increased to 24.23% in March 2025, according to the Nigeria Bureau of Statistics (NBS), the official government data source. This rise from 23.18% in February 2025 to 24.23% in March 2025 reflects a significant surge in commodity and

April 15, 2025

UBA Unveils Upgraded PoS Terminal, Revamped MONI App to Accelerate Digital Payments, Empower Businesses Across Africa

Africa’s Global Bank, United Bank for Africa (UBA) Plc, has unveiled its vastly improved Point of Sale (POS) Terminal as well as the UBA MONI App to redefine the digital payment landscape and empowering small and medium-scale enterprises across Africa. The upgraded

April 14, 2025

African Govts Urged To Harness $95b Diaspora Remittances For Health Financing

The Africa Centres for Disease Control and Prevention (Africa CDC) has urged African governments to harness the continent’s annual US$95 billion in diaspora remittances towards supporting national health priorities. According to a statement released on Friday, taking advantage of the funds is

April 13, 2025

Bitcoin

Bitcoin Nears $84k Amidst Trade War Fears

Bitcoin recovered, surging towards $84,000 on Saturday amidst trade war uncertainties between the United States and other countries. It rebounded from losses sustained earlier in the week. The price of Bitcoin dipped as low as $74,700 on Monday, fueled by concerns over

April 13, 2025

Naira Ends Week Strong, N1,626.00/$1 At Official Market

The naira edged up slightly against the US dollar at the official foreign exchange market to close the week at N1,626.00/$1 on Friday. The gain is based on data published by the Central Bank of Nigeria (CBN), when compared to the previous

April 13, 2025

Oando Pipelines In Bayelsa Hit By Sabotage Attacks

Oil producer Oando Plc said three sabotage attacks had targeted its pipelines in the oil-rich Bayelsa State over the past week. In a statement as reported by Reuters, Oando, which now owns Eni’s former unit Nigerian Agip Oil Co, said late on

April 13, 2025

MTN Plans Second Public Offer In Nigeria

MTN Group President, Ralph Mupita, has announced plans to reduce its shareholding in MTN Nigeria through a public offer after it returns to profitability. The group aims to cut its stake from 76 percent to 65 percent in line with its longstanding

April 11, 2025

Bitcoin

Tariff Pause: Bitcoin Rebounds Above $82K On Market Optimism

The cryptocurrency market surged above $ 82,000 on Thursday after U.S. President Donald Trump announced a temporary 90-day pause on tariffs for the majority of trading partners, excluding China. The cryptocurrency market resumed optimism after tariff fears caused tension among investors. The

April 10, 2025

US Dollar Slumps On Stop-Start Tariffs

The US dollar plunged against the euro and other main rivals again on Thursday after President Donald Trump abruptly paused higher tariffs on all countries except China, adding to investor uncertainty. The greenback lost over one percent against the European single currency,

April 10, 2025

Economy·News·Politics

Oyo Seeks US Investment In Solid Minerals, Agric

Oyo State Governor, Seyi Makinde, has expressed the state’s readiness to partner with the United States in exploring investment opportunities in solid minerals development, agribusiness, education, energy, and other critical sectors. The governor made this known on Wednesday during a courtesy visit

April 10, 2025

FG Confirms Naira-for-Crude Policy Is Still Active After Meeting with Dangote Officials

The Federal Government says its naira-for-crude initiative with local refineries is not a temporary measure but a “key policy directive designed to support sustainable local refining”. The government also said the initiative is still in effect and will continue immediately, overruling the

April 9, 2025

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