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According to the most recent data from the National Bureau of Statistics (NBS), Nigeria earned over ₦12.81 trillion from crude oil exports in the third quarter of 2025, highlighting the petroleum sector's sustained dominance in the nation's international trade. Crude oil alone made for 56.14% of Nigeria's total exports in Q3 2025, according to the NBS' Foreign Trade in Goods Statistics, suggesting a recovery in oil export earnings for the year. While the value of crude oil exports decreased slightly from ₦13.41…

A thorough examination of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) factsheet indicates that between August 2024 and October 2025, Nigeria imported ₦12.8 trillion worth of Premium Motor Spirit (PMS), commonly referred to as gasoline or fuel. The agency's record of 15,435,000,000 liters imported into the country over the course of 15 months was used to compute the import value, with an average landing cost of ₦829.77 per litre. According to the breakdown, September 2024 had the…

At the 60th Annual Bankers’ Dinner, Central Bank Governor Olayemi Cardoso made a speech that was both retrospective and forward-looking, a comprehensive overview of Nigeria’s reform trajectory and its transition into a sustainable economic phase. The speech was more than just bluster; it was a thorough account of Nigeria's transition from catastrophe to stability and how reforms are now creating the groundwork for inclusive prosperity and resilience. Cardoso started by placing the historical occasion in context. "We are…

Nigeria's economy grew by 3.98 percent in the third quarter of 2025. The most populous country in Africa had successive growth thanks to non-oil industries like agriculture and services, according to figures released by the National Bureau of Statistics on Monday. Nigeria’s national GDP climbed to N113.59 trillion in nominal terms, while real GDP was recorded at N57.03 trillion in the third quarter of 2025. NBS data stated that the agriculture sector rose by 3.79 percent, an improvement from the 2.55 percent…