Nigeria

Nigeria’s latest economic narrative presents a troubling contradiction: An economy expanding at a faster pace, a government celebrating international validation of its reforms, and a population in which tens of millions remain deprived of basic healthcare, education and acceptable living standards.

Nigeria’s web traffic in September produced a ranking that looks very different from the usual picture of search engines and social media dominating everything.

Emerging markets continue to outperform developed nations in driving world economic expansion, according to the International Monetary Fund’s (IMF) October Outlook figures released by data analytics firm StatiSense.

The Danish Government has reaffirmed its commitment to strengthening maritime security cooperation with Nigeria, with both countries exploring further collaboration in intelligence sharing, capacity building and operational coordination to sustain security gains in the Gulf of Guinea.

High interest rates in Nigeria are discouraging investment in the solar energy sector, with PowerChina’s Africa Regional Director, Timmy Shi, identifying the cost of financing as a major obstacle for foreign companies seeking to establish businesses in the country.

The European Union (EU) has committed up to €14m in grant funding to support preparations for Nigeria’s planned deployment of 90,000 kilometres of fibre-optic infrastructure aimed at expanding broadband access and strengthening the country’s digital economy.

The International Monetary Fund (IMF) has warned Nigeria against reinstating blanket petrol subsidies amid mounting political pressure ahead of the elections, urging the Federal Government to prioritise targeted support for vulnerable households facing rising energy and transportation costs.

Nigeria’s foreign exchange reserves have climbed to $58.81bn, their highest level in nearly 18 years, strengthening the country’s external position as oil and gas investment, export earnings and corporate performance become increasingly important to sustaining the gains.

Nigeria’s National Drug Law Enforcement Agency (NDLEA) has told the United Nations that it seized more than 5.8 million kilogrammes of illicit drugs valued at over ₦2.5 trillion, arrested 38,242 suspects and secured 6,232 convictions between January 2025 and September 2026.

Shell has taken another major step in the restructuring of its decades-old Nigerian operations, agreeing to sell its entire interest in its domestic gas distribution business, Shell Nigeria Gas Group (SNG), to indigenous energy company, Vaaris Energy Limited.