<< Back             Poser >> Nigeria’s economic recalibration good for business — Jumia CEO By Etop Ekanem  Chief Executive Officer of Jumia Group, Francis Dufay, has offered a perspective that placed Nigeria not at the margins of risk, but at the centre of reform, growth and stability. Speaking during a panel on emerging markets, at the Sohn Conference in New York, Dufay described the period between 2021 and 2024 as one of the most difficult economic cycles in recent memory for African markets, with Nigeria among the hardest hit.  Sharp currency swings, weakened consumer purchasing power, and inflation created a challenging operating environment, particularly for sectors tied to imports, logistics, payments, and retail demand. For businesses like Jumia, where pricing stability, inventory planning, and payment predictability are critical, the volatility tested resilience. But according to Dufay, the pressure forced structural responses, arguing that Nigeria’s reform trajectory, particularly under President Bola Tinubu, has marked the beginning of a new macro-cycle. Measures around exchange rate unification, fiscal adjustments, and broader economic restructuring, he suggested, are gradually creating a more transparent and stable operating environment for compliant businesses. He pointed to Nigeria as a clear case study of reform under strain. “Nigeria was in a tough situation three or four years back,” he noted.  adding that recent policy shifts are laying the foundations for greater stability. For e-commerce and digital platforms, that stability translates directly into improved pricing models, better supplier relationships, stronger payment flows, and renewed investor confidence. Vanguard Business News	Lekki Port Phase 2 construction set for kick-off, says Lagos govt By Godwin Oritse Lagos State Governor, Babajide Sanwo-Olu, has announced that work on Phase 2 of the Lekki Port project will commence soon, a move aimed at strengthening the state’s position as West Africa’s leading maritime and logistics hub. Speaking at the Invest Lagos Summit 3.0 held in Lagos earlier in this week, Sanwo-Olu highlighted the […] 3 years of Tinubu: Manufacturers yet to see policies translate into industrial growth — MAN  From intervention funds and industrial roadmaps to fiscal reforms, local content policies and foreign exchange restructuring, the administration has introduced several initiatives CBN bans linked financial entities from extending loans to each other By Elizabeth Adegbesan The Central Bank of Nigeria, CBN, has banned closely linked financial entities from extending loans or guaranteeing the obligations of one another without the bank’s prior approval. The apex bank disclosed this, yesterday, in its Exposure Draft on ring-fencing operations of closely linked entities in the Nigerian financial system. The apex bank stated: […] Businesses’ confidence in macroeconomy rises to 7.9 index points — CBN By Elizabeth Adegbesan Businesses’ confidence in the macro economy rose significantly to 7.9 index points in May 2026 from 3.9 index points in the preceding month of April 2026, even as insecurity, multiple taxation, and high interest rates continued to pose major operational challenges to businesses during the period. This was contained in the latest Central […] Nigeria’s monthly oil output rises 2.2% By Obas Esiedesa, Abuja Nigeria’s total oil production, comprising crude oil and condensates, increased by 2.2 per cent in May to 1.70 million barrels per day (bpd), while crude oil output exceeded the country’s OPEC production quota for the first time this year. Data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Thursday showed […] FCMB appoints Bismarck Rewane as Non-Executive Director, Board of Directors Chairman First City Monument Bank (FCMB) Limited has appointed Mr. Bismarck Rewane as a Non-Executive Director and Chairman of its Board of Directors, following approval from the Central Bank of Nigeria. Mr. Rewane is a respected economist and experienced leader in Nigeria’s financial sector, with more than 40 years of experience in macroeconomic research, investment banking, […]