Honestly, if you're trying to keep up with the Nigerian economy this week, your head is probably spinning. One minute we’re talking about massive trade deals in the desert, and the next, there’s a new satellite internet giant landing in Lagos. It is a lot to take in.
Basically, the "business as usual" vibe in Nigeria just got a serious makeover.
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The UAE Trade Deal: 7,000 Reasons to Smile?
Today, January 13, 2026, the big headline is coming straight out of Abu Dhabi. Nigeria just signed a massive thing called the Comprehensive Economic Partnership Agreement (CEPA) with the United Arab Emirates.
Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, is calling it a "historic milestone." It sounds like corporate speak, but the details are actually wild. The UAE is scrapping tariffs on over 7,000 Nigerian products. We’re talking about everything from oil seeds and cereals to pharmaceuticals and even fish.
If you're a Nigerian exporter, this is your green light.
On the flip side, Nigeria is also dropping tariffs on about 6,000 UAE products. About 60% of those will see their duties vanish immediately. The goal here is to bring in cheaper machinery and industrial inputs to help our local factories actually produce stuff without breaking the bank.
Nigeria Business News Today: The Battle for Your Data
While the trade deal was getting inked, the Nigerian Communications Commission (NCC) was busy handing out a very important piece of paper to Amazon.
Remember Project Kuiper? It’s now officially Amazon Leo in Nigeria.
They just secured a seven-year landing permit that kicks in on February 28, 2026. This is a direct shot at Starlink. For a long time, Elon Musk’s satellite service had the high-speed, remote-access market all to itself. Now, Amazon is moving in to fight for those 23 million Nigerians who still live in areas with crappy or non-existent internet.
Expect price wars. Seriously. When these giants clash, the consumer usually wins—or at least gets a better data plan.
The Money Numbers: Inflation and the Central Bank
Let’s talk about the elephant in the room. Inflation.
The Central Bank of Nigeria (CBN) is sounding weirdly optimistic. They’re projecting that inflation will drop to around 12.94% this year. Compare that to the 21% average we saw in 2025, and it feels like a dream. Governor Olayemi Cardoso and the Monetary Policy Committee (MPC) decided to keep the interest rate steady at 27% for now.
They’re playing it safe. They want to make sure the "ghost of inflation" is actually gone before they start cutting rates.
- Naira Exchange Rate: Currently hovering around ₦1,423 to $1.
- GDP Growth: The bank is betting on a 4.49% growth rate for 2026.
- Fuel Prices: There’s a bit of a back-and-forth here. The CBN thinks petrol will stay around ₦950 per litre, but Aliko Dangote warned earlier this week that if we keep relying on imports, prices could spike to ₦1,400.
The good news? Fuel import spending has crashed by 54% over the last two years. We are finally refining more of our own "black gold" at home.
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New Faces in Big Chairs
There’s also a big leadership shuffle happening in the private sector. MultiChoice Nigeria—the people behind DStv—just named Kemi Omotosho as their new CEO. She’s taking over at a time when streaming is eating into traditional TV’s lunch.
Over at Eko Disco, Wola Joseph-Condotti has stepped in as the interim CEO. These aren't just HR updates; these are the people who will decide how much you pay for your entertainment and your electricity this year.
What This Actually Means for You
You've got to look at the patterns. The government is pivoting hard toward "green finance." They’re looking to raise ₦500 billion through green bonds this year to fund climate projects. Even the US military is getting involved in the broader picture, delivering fresh supplies to Abuja today to keep the "security" part of the "business security" equation stable.
If you’re an investor or a small business owner, the "Renewed Hope Agenda" is finally showing some structural teeth. But—and it’s a big "but"—the cost of living still feels heavy for the average person on the street.
Actionable Steps for the Week
- Exporters: Check the new CEPA list. If you produce agricultural goods or textiles, the UAE market just became significantly cheaper to enter.
- Tech Users: Don't lock yourself into a long-term satellite contract just yet. With Amazon Leo launching in February, the competition will likely drive down hardware costs.
- Investors: Keep an eye on the NGX Consumer Goods Index. It was a top performer last year, and with inflation easing, these stocks might have more room to run.
- Budgeting: Plan for fuel prices to remain volatile. While the ₦950 target is the goal, the ₦1,400 warning from the Dangote refinery suggests you should keep a "buffer" in your transport budget.
The landscape is shifting. It's faster, a bit more competitive, and definitely less predictable. But for the first time in a while, the numbers are starting to point in the right direction. Stay sharp.