Nigeria’s tariff shake-up targets production boost and consumer relief

Nigeria’s tariff shake-up targets production boost and consumer relief The recent shake-up in Nigeria’s trade policy reflects a deliberate effort to strengthen domestic production, easeconsumer pressures and discourage the importation of finished goods. Industrial, food, and transport sectors recorded the largest tariff reductions, with the industrial sector alone posting a net cut of 569 percent. […]

What NOFR means for Nigeria’s financial markets, and why it matters now

The Nigerian Overnight Financing Rate (NOFR) marks a significant step in improving how money is priced in Nigeria’s financial system. Introduced by the Central Bank of Nigeria (CBN) in collaboration with the Financial Markets Dealers Association (FMDA) and supported by the European Bank for Reconstruction and Development (EBRD), NOFR provides a transparent, transaction-based benchmark derived […]

Understanding CBN’s IMTO directive and what It changes in the FX market

SummaryThe recent directive by the Central Bank of Nigeria (CBN) on International Money Transfer Operators (IMTOs) represents a forward-looking structural reform designed to enhance transparency, efficiency, and coordination within Nigeria’s foreign exchange (FX) market. IMTOs, including global operators such as Western Union and MoneyGram, play a vital role in facilitating diaspora remittances into Nigeria, serving […]

Implications of Dangote Refinery Expansion on Nigeria’s Foreign Exchange Demand

As Dangote Refinery sets on a historic trajectory of expansion from 650,000 barrels per day to 1.4 million barrels, more than double its current production capacity, alongside plans to list 10 percent of its stake to the public, the implications for Nigeria’s foreign exchange dynamics are significant. Beyond fuel: Deepening Nigeria’s industrial base The refinery’s […]