President Bola Tinubu has been told to remove Nyesom Wike as FCT Minister in a fresh development amid move by the Rivers assembly to sack Governor Siminalayi Fubara.
The Federal Government has launched YouthCred, a new scheme allowing Nigerian youths aged 18–39 to access loans up to N5 million with flexible repayment terms.
The Central Bank of Nigeria (CBN) has released a new foreign exchange limit for personal and business travels for Nigerians sourcing FX from BDCs.
Walt Disney and OpenAI announced a three-year licensing deal Thursday that will allow users to create short videos featuring beloved Disney characters through artificial intelligence. Disney shares rose by about two percent on Thursday after the announcement.
The US trade deficit narrowed unexpectedly in September to the smallest since 2020, delayed government data showed Thursday, with imports rising just slightly as President Donald Trump's new tariffs set in.
Leading German institutes on Thursday downgraded their 2026 growth forecasts, in another bad sign for Chancellor Friedrich Merz whose efforts to reboot Europe's biggest economy face mounting criticism. But critics say his efforts so far have not been radical enough as challenges mount for the economy, from a deepening industrial slump to US tariffs.
The federal government has plans to raise Nigeria's debt profile by borrowing N17.89 trillion in 2026 due to a budget deficit and lower revenue projections.
Europe's largest steelmaker Thyssenkrupp is to pause steel production at two sites for about two weeks because of Asian competition, the German firm said Thursday, as the European Union considers tightening its steel tariffs. Hammered by exorbitant energy costs and cheaper Asian competition, Germany's steel industry has been mired in deep crisis for several years.
The European Central Bank proposed Thursday simplifying rules for the region's lenders to help them compete internationally, but insisted the move would not weaken guardrails aimed at preventing crises.
Widespread disruption hit Portuguese air travel and trains, hospitals and schools Thursday as the unions called the biggest nationwide strike action for more than a decade against government labour reforms. Lisbon's main train station was empty with most services cancelled and the TAP Air Portugal national airline called off about two thirds of its normal 250 flights.
Data from the Nigerian Foreign Exchange Market (NFEM) shows that dollar inflows into the forex markets increased marginally amid the naira's depreciation.
Economy
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