Nigeria has accessed the first tranche of a $5 billion derivatives deal with United Arab Emirates’ largest lender, pressing ahead with a transaction that has been scrutinized for being opaque.

Nigeria’s revenue surged 49% in the first five months of the year, exceeding government projections as an overhaul of the tax system and new levies on industries including petroleum and mining boosted collections.

Nigeria’s annual inflation rate rose less than expected and may ease in coming months after the US and Iran reached a deal to reopen the Strait of Hormuz, reviving the case for a drop in borrowing costs.

The US said it has killed about 200 Islamic State-linked fighters in Nigeria since operations began in the West African nation.

The International Monetary Fund said Nigeria should maintain tight monetary policy to curb inflation, while cautioning that a recently announced $5 billion debt swap poses potential risks.

Nigeria plans to refinance high-cost debt and raise funds to help plug its budget deficit, leveraging strong investor confidence amid elevated oil prices fueled by the US-Iran conflict.

Nigeria plans to refinance high-cost debt and raise funds to help plug its budget deficit, leveraging strong investor confidence amid elevated oil prices fueled by the US-Iran conflict.

Nigerian oil companies are plowing windfall gains from the Iran-war crude rally into near-term extraction projects, boosting the drive by Africa’s top producer to double output within four years.

Nigerian oil producer Oando Energy is witnessing a surge in revenue because of the Iran war, which has “shattered” the Gulf’s reputation as a safe place to operate, said Group Chief Executive Wale Tinubu.

Nigeria’s annual inflation rate climbed to its highest level in five months as the fallout from the Iran war continued to fan energy prices, complicating the outlook for policymakers ahead of their first meeting since the conflict began.

A Nigerian court handed a former energy minister a 75-year jail term after finding him guilty of money laundering and corruption linked to two power projects in the West African nation, which has persistently been roiled by outages.

Nigeria’s newly appointed Finance Minister Taiwo Oyedele has ruled out a return to government subsidies and price controls, reassuring the country’s bondholders that he will stick with reforms started by his predecessor.

Nigeria’s foreign ministry summoned South Africa’s envoy to complain about xenophobic attacks against its citizens, weeks after a similar complaint was lodged by Ghana.

One of Nigeria’s top opposition politicians quit a coalition that planned to run against President Bola Tinubu in January 2027 elections, improving the incumbent’s chances of retaining power.

Nigeria’s Supreme Court overturned a ruling that could have derailed the nation’s major opposition party ahead of national elections in 2027.

Nigeria’s president named a former Dangote Cement Plc executive as the next head of the nation’s petroleum-products regulator, the third leadership change in four months at the agency that’s clashed with billionaire investor Aliko Dangote.

Nigeria’s president named a former Dangote Cement Plc executive as the next head of the nation’s petroleum-products regulator, the third leadership change in four months at the agency that’s clashed with billionaire investor Aliko Dangote.

Nigerian Power Minister Adebayo Adelabu resigned, adding to recent changes in the cabinet of President Bola Tinubu after the exits of his ministers of finance and foreign affairs.

Nigeria’s president appointed Taiwo Oyedele, the head of the nation’s tax reform committee, as the new finance minister in a cabinet reshuffle.

Terrahaptix Inc., a Nigerian drone-making startup, will open its first factory abroad in Ghana, where it will build mid-range pilotless aircraft and defense systems in response to increasing Islamist-militant activity in West Africa.