Economy
Major Indicators That Will Shape Nigeria in 2023
The year 2022 has been an eventful one. As we close out on all activities of the year and look forward to a new one, it is important that we begin to envisage what the new year portends and be better prepared. The outgoing year has been marked with some remarkable incidences: President Muhammadu Buhari signed the Electoral Act 2022, the CBN issued a string of controversial announcements, the Nigerian government plans to wean off the subsidy regime starting next year, and 5G made it to Nigeria; however, rollouts have been slow.
These and many more are the highlights that shaped 2022, but in this article, we will be focusing on major events that have been projected to shape Nigeria in 2023.
General Elections
The upcoming general election in February 2023 will be Nigeria’s seventh democratic election. It has been recognized as one of the most significant electoral events in the country’s history of elections as there are more candidates contesting for the presidential seat, with more Nigerians becoming politically aware and involved.
And in a historic move, Nigeria will be transmitting its election results electronically for the first time in the upcoming elections, as is contained in the Electoral Act 2022, that promises of a credible election. Political analysts have praised the signing of the Act, as it foretells a more transparent electoral system to allow for the smooth running of the country’s democratic processes. The outcome of the elections will, in no small measure, determine the extent of the economic growth of the country.
CBN’s Domestic Card
The Central Bank of Nigeria (CBN) had announced plans to develop a National domestic card scheme which it expects to take off in January 2023. Among its reasons for the card scheme launch, the CBN listed financial inclusion, consumers’ data sovereignty and Enabling banks to offer differentiated products and services.
The big question, however, is, does the CBN need to launch a domestic card to achieve these? Currently, in Nigeria, there are existing local and international card schemes that are meeting these needs already. These card schemes, notably Mastercard, Visa, and Verve cards, are enabling banks to offer enough differentiated products and services, among other card payment benefits.
The Verve card particularly is a Nigerian home-grown domestic card scheme and one of Africa’s most successful indigenous payment cards. It has grown its value proposition and market base to be accepted in over 180 countries and issued in countries across Africa, providing secure and ubiquitous payment options.
Not only are these card schemes delivering on the goals of the proposed domestic card scheme, telecommunication operators, Payment Service Banks (PSBs), Fintechs, Commercial banks, and Microfinance banks are playing in this space to create a more financially inclusive, data secure, and product differentiated payment ecosystem.
Another question the CBN will be forced to answer in the new year while launching its domestic card is the ethical question of fairness. Will the CBN be playing fair now that the regulator has also become a player? There has been widespread concern over the ethical disposition of this move. Experts believe the CBN will want to coerce the banks and even Nigerians (cardholders) to subscribe to the government-owned card.
CBN’s entry into the card business; experts project it will effectively crowd out competition and directly compete with homegrown cards as well as other international card companies. They further suggest that instead of playing in the field, the apex bank should remain in its role as a regulator while providing institutional support for existing players, ensuring that they meet the set standards for the benefit of the domestic economy. 2023 will decide.
Slow Economic Growth
The World Bank adjusted its projection for Nigeria’s economic growth for 2023 from 3.3 per cent to 3.2 per cent. The global financial institution noted that the slow growth would be propped by an increase in private consumption, which will be driven by subsiding inflationary pressures.
2022 saw Nigeria record its highest inflation figure since 2005 at 21.15 per cent. This inflation was majorly instigated by; disruptions in the food distribution network resulting from insecurity, high importation costs, currency depreciation, and a bump in the cost of production.
As the new year unveils, keen expectations will be for the government, through the CBN, to be more intentional about its fiscal and monetary policies and proffer business-friendly initiatives that will help tackle the challenges affecting macroeconomic growth.
5G Rollout
It’s the era of the 5th generation mobile network, which sets to drive faster and enhanced communication. As of June 2022, about 70 countries have deployed the 5G technology, with projections that more users will be onboarded. Earlier this year, Nigerians joined the list of 5G users after an auction process was announced by the National Communication Commission (NCC) for the 3.5GHz 5G spectrum.
With this, the NCC will enable licensed operators with existing infrastructure to provide 5G services to Nigerians while providing a regulatory framework that will guide these providers of the 5G network on how to protect users.
Although the rollout is not as extensive yet, experts believe the technology holds a trove of benefits for Nigerians, both individuals and businesses. It is expected that the adoption of this technology will increase opportunities and throw up new businesses with the evolution of blockchain in 2023, which will determine just how much work needs to be done to ensure that advanced technologies are accessible to more Nigerians.
2023, as with any election year, holds a lot of uncertainties, but the hope is that the theme of collaboration endures. Collaboration between the government and private sector players, and collaboration between the government and the citizens to create a robust and efficient economy.
Growth in the Oil Sector
As Europe completely wane itself off the Russian energy and the promises the recently passed Petroleum Industry Act (PIA) holds, Nigeria poses as a more attractive destination for foreign direct investment for oil and gas.
The government has recently redesigned its security strategy along the Niger Delta corridor to curb installation vandalization and oil theft. The new strategy of engaging the militants in addition to the military operations in the Niger Delta is expected to increase the daily oil production from 1.22m b/d towards the OPEC stipulated 1.7m b/d.
The government has also speculated it will be removing oil subsidies from its spending in the new year.
Other growth indicators in the oil sector include the recent commercialisation of the government-owned Nigerian National Petroleum Company (NNPC) Limited, which will further liberalise the sector. The completed Dangote Refinery, with its 650,000 b/d is expected to meet Nigeria’s fuel requirement, provided domestic oil prices are cost-effective, and fuel imports are lowered.
With all these efficient components brought together; expected foreign investment, increased security, increased daily oil production, removal of oil subsidy and the take-off of the Dangote refinery- the oil sector is going to be a major contributor to the economy’s balance of payment.
The new year indeed looks viable; the supposition is that the key players, government, businesses, and individuals will take their roles assiduously and deliberately work towards making the new year a productive and prosperous one for all.
Economy
Trump Earned over $1 billion Through Cryptocurrency; How Can an Ordinary Investor Earn $17,700?
Trump publicly criticized Bitcoin in 2021 but rapidly shifted his stance during the campaign, proposing to make the United States the “global cryptocurrency capital.”
After returning to the White House, he signed an executive order supporting the development of the digital asset industry. Meanwhile, reports indicate that Trump and his associated businesses have generated over $1 billion in gains through cryptocurrency.
As we enter 2026, cloud mining is emerging as a new area of interest amidst the continued development of computing infrastructure and digital asset markets. For the average investor, the question arises: how can one generate $17,700 in passive income—or even more—despite constant market volatility?
Cloud mining： represented by platforms like SHRMiner, is rapidly gaining market attention. By providing rentable computing power services and earning mining rewards, it allows users to access the complete cloud mining process and earn passive BTC income without purchasing expensive equipment or specialized skills.
Recently, SHRMiner, a UK-based cloud mining platform, officially launched a new “free cloud mining service.” This service is designed for holders of mainstream cryptocurrencies such as BTC, XRP, DOGE, LTC, and EHT, providing users with a new opportunity to participate in cryptocurrency mining without any entry barriers.
How to earn passive income from BTC through SHEMiner cloud mining
Start earning returns in just three simple steps:
- Register an account
By visiting the official SHRMiner website, users can register for a free account in less than two minutes and receive a $15 sign-up bonus; this bonus allows them to quickly experience the platform’s services and earn a daily return of $0.60 from a complimentary trial contract.
- Select a cloud mining plan
Choose a cloud mining plan that suits your needs and budget. The platform offers flexible plans ranging from $100 to $200,000 to meet the investment goals of different users.
- Start earning returns
After purchasing a contract, earnings are automatically settled within 24 hours without requiring additional management or action; users can withdraw their earnings to their cryptocurrency wallet addresses at any time or reinvest the profits to benefit from the compounding effect.
The primary advantage of this model is that it significantly lowers the barrier to entry. Users do not need to research specific mining hardware models or hashrate configurations, nor do they need to set up their own system environments; simply by registering an account, depositing assets, and selecting a mining plan, they can start earning returns.
SHRMiner Platform Advantages:
- Supports daily automatic settlement
- No additional electricity or maintenance costs required
- Utilizes advanced ASIC mining hardware, powered by renewable energy sources including hydropower, wind power, and solar power
- Supports mining for multiple currencies: earn mainstream cryptocurrencies such as BTC, XRP, ETH, DOGE, USDC, USDT, SOL, LTC, and BCH.
- Equipped with SSL encryption and DDoS protection, a real-time earnings dashboard for easy monitoring of mining performance
- 100% remote access, fully accessible via the SHRMiner application or browser without hardware requirements, and 24/7 online technical support.
⦁Affiliate Program: The Affiliate Program allows you to earn up to 4.5% commission by referring friends, with the opportunity to earn an additional bonus of up to 30,000.
Examples of common contracts:
| Contract Name | Price | Profit | Days | Principal + Total Return |
| New User Experience Agreement | $100 | $4 | 2 | $100+$8 |
| Bitdeer Sealminer A2 Pro | $500 | $6.25 | 5 | $500.00 + $31.25 |
| Litecoin Miner L9 | $1000.00 | $13.00 | 10 | $1000.00 + $130 |
| Bitcoin Miner S21 XP Imm | $5000.00 | $70.00 | 25 | $5000.00 + $1750 |
| Bitcoin Miner S21e XP Hyd | $10000.00 | $150.00 | 35 | $10000.00 + $5250 |
| ANTSPACE HW5 | $50000.00 | $900.00 | 45 | $50000.00 + $40500 |
After purchasing a contract, earnings will be automatically credited to your account within 24 hours. Upon contract expiration, your principal will be returned in full. You may withdraw the principal or reinvest it to benefit from compound returns; please click here for more details regarding the mining contract.
Unimaginable money-making opportunities
What sets SHRMiner apart is its extraordinary daily passive income; users have the opportunity to earn $10,700 or even more each day, turning the dream of online wealth into reality. Imagine generating substantial income without the need for ongoing investment or complex setups—that is exactly what SHRMiner offers.
Safety and Sustainability
In the mining sector, trust and security are paramount; SHRMiner fully recognizes this and prioritizes user safety above all else. Committed to transparency and legitimacy, SHRMiner ensures your investment is protected, allowing you to focus on profitability. All mining facilities utilize clean energy, making this a carbon-conscious cloud mining operation. Renewable energy protects the environment from pollution while providing a powerful energy source.
In short
If you are looking for ways to generate passive income, cloud mining is an excellent choice. When approached correctly, these opportunities allow you to effortlessly build cryptocurrency wealth on “autopilot” with minimal time investment. At the very least, they are far less time-consuming than any form of active trading. Passive income is the ultimate goal for every investor and trader, and with SHRMiner, maximizing your passive income potential is easier than ever.
To learn more about SHRMiner, please visit the official website: https://shrminer.com
Complete List Of The Top Crypto Platforms in Nigeria: Where to Trade Safely
As a Nigerian just getting started in crypto trading, or someone trying to rebuild their confidence after a bad trading experience, the fear of losing your hard-earned money is valid. This is why choosing a reliable crypto platform to carry out your trading is very important.
The good news here is that there are several trusted crypto platforms built to serve Nigerian traders, offering secure trading, fast withdrawals, and competitive fees.
In this guide, you will discover the top crypto platforms in Nigeria, what makes each one stand out, and how to choose the best option based on your trading goals.
Top 4 crypto platforms in Nigeria
NOSH
Nosh is one of the top platforms in Nigeria and Ghana with the best crypto trading services, offering the best rates for crypto trading, allowing you to get good value for your digital assets. With its user-friendly interface and 24/7 customer support, it is a very good option whether you are a new or experienced crypto trader.
With Nosh, you get:
- Instant payouts on every transaction, no unnecessary waiting.
- Advanced fraud protection with two-factor authentication to keep your account and transactions secure.
- Easy and direct conversion of crypto to Naira or Cedis within a few minutes; no need for third-party apps whenever you are ready to cash out.
- High exchange rates.
- Transparent rates with a rate calculator to know how much you will be getting.
Nosh supports a variety of cryptocurrencies such as Bitcoin, Dogecoin, USDC, USDT, Ethereum, Tron, Litecoin, and Binance Coin.
KUCOIN
KuCoin is another popular crypto platform known for its P2P (peer-to-peer) marketplace. With KuCoin, you can trade your crypto directly with a buyer or sell your crypto directly with a seller. KuCoin holds the crypto in escrow until the seller accepts that they have received the payment; this is done to avoid fraud from the buyer or seller of the crypto.
With KuCoin, you get:
- To carry out P2P trading with escrow protection.
- To use multiple payment method options like bank transfer, USSD, and mobile-money-linked options.
- Offers competitive and relatively low trading fees, especially if you’re holding KCS (KuCoin’s native token).
- Gives you access to spot trading, futures/derivatives, staking, and other earn products
KuCoin supports stablecoins such as USDT, USDC, and TUSD.
COINCOLA
Coincola is also a top platform ranked as one of the best P2P trading platforms for Nigerians. With Coincola, you get to buy and sell your Bitcoin and USDT with real-time price tracking. Coincola is your go-to platform if you need one that offers flexible funding options like cash deposit and bank transfers. However, there have been reports of withdrawal delays.
With Coincola, you get;
- A P2P marketplace to buy/sell Bitcoin and other coins directly from vendors, with their completed-trade counts shown upfront so u can trade with caution.
- Instant BTC conversion with real-time price tracking
- To use multiple local funding options like bank transfer, cash deposit, and gift cards
- An escrow system that holds your money until a trade is confirmed.
Coincola supports cryptocurrencies like USDT and TRON.
YELLOWCARD
Yellowcard is another popular crypto platform that offers not only P2P trading but also allows you to buy and sell assets like USDT, USDC, PYUSD, BTC, and ETH with regional payment options like mobile money, bank transfers, and cash deposit. However, in 2025 they announced they no longer offer crypto-to-cash retail services.
With Yellowcard, you get:
- Direct access to buy and sell crypto rather than waiting to match with individual P2P counterparties.
- To use multiple funding methods like bank transfer, mobile money, and cash deposits.
- Free local and cross-border transfers via “Yellow Pay” to 20 different countries in Africa.
Factors to consider when choosing a crypto platform
- Don’t just look at the advertised trading fee. Some platforms hide the extra cost, so your actual rate ends up higher than expected. Do a small test trade first and see what you actually receive.
- The best platform in the world is useless to you if it doesn’t support how you actually move money, whether it’s bank transfer or mobile money. Check that before you even sign up, not after.
- Some platforms convert instantly; others, especially P2P ones, need you to wait for a counterparty to show up. If you need your money fast, that difference matters a lot.
- If you specifically need USDC or another less-common stablecoin, don’t assume it’s there on the platform. Double-check the coin list before you commit to one.
- Support should not be silent when something goes wrong. Look for evidence people actually got helped, not just a “24/7 support” badge.
- If a platform can’t tell you clearly how they protect your money, that’s a red flag on its own. Always go for one that prioritizes security.
FAQs
- Which crypto platform is best in Nigeria?
The best crypto platform in Nigeria is Nosh. Nosh offers the best rates for selling crypto with direct crypto-to-naira conversion to easily change your crypto to cash when needed.
- Can I teach myself crypto trading?
Yes, you can. There are many platforms and tutors with tutorial videos and lessons on how to start crypto trading on your own.
- What is the most popular crypto in Nigeria?
The most traded cryptocurrency in Nigeria is Bitcoin, making it the most popular.
Conclusion
When you trust the right platform, your journey in crypto trading is safe and secure. Always look out for crypto trading platforms that meet your needs alongside keeping things like payment options, a good list of coins they support, and other factors mentioned in this article before committing to one.
Always start with a small test trade first to see what you are getting; it will help you get a better idea of how the platform works so you don’t fall victim to hidden charges not included in price tags by some platforms.
By Adedapo Adesanya
Okitipupa Plc was the sole price gainer at the NASD Over-the-Counter (OTC) Securities Exchange on Friday, August 7, lifting the trading platform by 0.44 per cent at the close of transactions.
The share price of the palm oil producer appreciated during the trading session by N25.00 or 9.0 per cent to N277.00 per unit compared with the previous day’s N252.00 per unit.
As a result, the market capitalisation gained N12.29 billion to close at N2,807 trillion, in contrast to the previous session’s N2.795 trillion, while the NASD Security Index (NSI) added 93.63 points to finish at 4,678.08 points compared with Thursday’s 4,657.59 points.
The bourse recorded a price loser yesterday, and this was Mass Telecoms Innovation Plc, which crashed by 3 Kobo or 9.4 per cent to settle at 32 Kobo per share versus the previous day’s 35 Kobo per share.
The volume of securities traded by investors plunged by 81.5 per cent to 535,7560 units from 2.9 million units, the value of securities slumped by 93.9 per cent to N6.0 million from N99.2 million, and the number of deals decreased by 41.9 per cent to 36 deals from 62 deals.
Great Nigeria Insurance (GNI) Plc remained the most active stock by value on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units transacted for N6.5 billion, and Central Securities Clearing System (CSCS) Plc with 77.0 million units exchanged for N5.5 billion.
GNI Plc also ended the day as the most traded stock by volume on a year-to-date basis, with 3.4 billion units worth N8.4 billion, trailed by Infracredit Plc with 2.3 billion units valued at N6.5 billion, and Resourcery Plc with 1.1 billion units sold for N415.7 million.
