Economy
FG’s deficit spending declines 15% to N908.13bn
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The Federal Government’s (FG) deficit spending saw a 15 percent reduction month-on-month (MoM), falling to N908.13 billion in November 2024 from N1.07 trillion in October 2024.
This information was disclosed by the Central Bank of Nigeria (CBN) in its November Economic Report, which noted that the decline was linked to a decrease in capital spending, attributed to delays in the release of capital allocations.
The CBN said: “The overall fiscal balance of the FGN narrowed in November 2024.
“Provisional data showed that the overall deficit contracted by 15 per cent relative to the preceding month but was 18.72 per cent above the target.
“The contraction reflected lower capital spending due, largely, to delay in capital releases.”
The CBN also said that FG’s retained revenue rose to N820 billion while its expenditure fell to N1.7 trillion due to lower capital spending recorded during the review period.
According to the CBN, “FGN retained revenue rose during the review period owing, largely, to higher receipts from FGN’s share of VAT pool and exchange gain.”
The Black Market Dollar-to-Naira Exchange Rate for 16th July 2026 Can Be Accessed Below.
NOTE: The exchange rate changes hourly. It depends on the volume of dollars available and the Demand. This means…you can buy or sell 1 dollar at a certain rate, and the price can change (high or low) within hours.
The official naira black market exchange rate in Nigeria today, including the Black Market rates, Bureau De Change (BDC), and CBN rates.
Please note that the exchange rate is subject to hourly fluctuations influenced by the supply and demand of dollars in the market.
What’s the dollar to naira black market today, 16th July 2026?
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦1420 and buy at ₦1405 on Thursday, 16th July, 2026, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Dollar to Naira Black Market Rate Today
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Selling Rate ₦1420
Buying Rate ₦1405
Dollar to Naira CBN Rate Today
Dollar to Naira (USD to NGN) CBN Rate Today
Highest Rate ₦1384
Lowest Rate ₦1379
Nigeria’s pension assets have risen by 51 per cent over the past two years, from N 20. 7 trillion to N 31. 48 trillion, while nearly one million new contributors have joined the Contributory Pension Scheme, Omolola Oloworaran, Director- General of the National Pension Commission (PenCom), said on Tuesday.
Oloworaran attributed the growth to renewed public confidence in the nation’s pension system, saying reforms introduced by the President Bola Tinubu administration had strengthened the industry’s credibility and expanded participation.
She disclosed this while briefing journalists at the Meet the Press session organised by the Presidential Communications Team at the Presidential Villa, Abuja.
According to her, pension assets increased by N 10. 7 trillion over the period, reflecting what she described as restored trust in the system.
“Every successful pension system on Earth is built on a simple foundation: confidence—confidence that contributions are safe, confidence that institutions work, confidence that after decades of honest labour, retirement will bring security, not uncertainty. Two years ago, that confidence needed restoring. Today, the verdict is in.
“Pension assets have grown from N 20. 7tn to N 31. 48tn as at this month. That is a 51 per cent increase, representing N 10. 7tn in new retirement wealth.
“Let me say plainly what those numbers mean: confidence is back, and the system is growing,” she said.
The PenCom boss noted that the growth was driven not only by improved investment performance but also by increased enrolment, with 938, 938,229 new contributors joining the Contributory Pension Scheme over the past 24 months.
She said the commission had also prioritised translating the growth in pension assets into improved welfare for retirees.
According to Oloworaran, aggregate monthly pension payments have risen by 22 per cent, increasing from N 12. 2 billion to N 14. 9 billion.
She further disclosed that following the implementation of the new national minimum wage, the Federal Government approved a N 32, 000 monthly consequential pension adjustment for eligible retirees of treasury- funded Ministries, Departments and Agencies who retired on or before July 29, 2024.
She said more than 195, 195,000 pensioners have already benefited from the upward review, describing it as part of the administration’s commitment to improving the welfare of retired public servants.
The Black Market Dollar-to-Naira Exchange Rate for 14th July 2026 Can Be Accessed Below.
IMPORTANT NOTE: The exchange rate changes hourly. It depends on the volume of dollars available and the Demand. This means…you can buy or sell 1 dollar at a certain rate, and the price can change (high or low) within hours.
The official naira black market exchange rate in Nigeria today, including the Black Market rates, Bureau De Change (BDC), and CBN rates.
Please note that the exchange rate is subject to hourly fluctuations influenced by the supply and demand of dollars in the market.
What’s the dollar to naira black market today, 14th July 2026?
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦1425 and buy at ₦1410 on Tuesday, 14th July, 2026, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Dollar to Naira Black Market Rate Today
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Selling Rate ₦1425
Buying Rate ₦1410
Dollar to Naira CBN Rate Today
Dollar to Naira (USD to NGN) CBN Rate Today
Highest Rate ₦1381
Lowest Rate ₦1378
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