The Minister of Power, Adebayo Adelabu, says it would have been insensitive for the Nigerian government…
Author: NJOKU SARAH
Dangote, Onyema responsible for recovering economy – Agbakoba
A former chairman of the Nigerian Bar Association, NBA, Olisa Agbakoba, SAN, has said that the…
BREAKING: Jim Obazee concludes CBN probe, submits report to Tinubu
President Bola Ahmed Tinubu has officially closed Jim Obazee’s investigation into operations of the Central Bank…
NGX continues downturn as investors lose N252bn
The stock market of the Nigerian Exchange Limited, NGX, witnessed further losses on Thursday as market…
Private sector biggest driver of Nigeria’s economy – Tinubu
President Bola Tinubu has the private sector is the biggest driver of Nigeria’s economy. The President…
Electricity Tariff Hike: Apprehension, anger as Disco imposes new rate on all customers
There is apprehension as Abuja Electricity Distribution Company passed the new electricity tariff on all customers.…
Money supply: CBN sells N676.65bn at OMO in April
The Central Bank of Nigeria, CBN, has sold N676.65 billion through the Open Market Operation, OMO,…
Oil price hits $90 first time since October amid heightened geopolitical tensions
Crude oil price surged further on Thursday, hitting $90.65 per barrel amid geopolitical tensions. Brent crude…
Naira appreciation continues despite drop in FX turnover
The naira continued its appreciation against the US dollar despite a drop in foreign exchange turnover…
Union laments hike in electricity tariff, appeals for reversal
The Association of Senior Civil Servants of Nigeria, ASCSN, has lamented the hike in electricity tariff…
Electricity tariff hike: Massive job loss imminent, inflation to worsen – LCCI
The Lagos Chamber of Commerce and Industry says the hike in electricity tariff will cause massive…
No Nigerian has 20 hours of power supply per day, tariff hike unacceptable – TUC
The Trade Union Congress says no Nigerian receives 20 hours of power supply per day, noting…
What you must know about new Electricity Tariff hike in Nigeria
Following the approval of a 300 per cent electricity tariff hike by the Nigerian Electricity Regulatory…
Nigeria imports decline in Q1 2024 amid incessant duties hike
The Nigeria Customs Service recorded a 5 per cent decline by posting 311,492 in the volume…
Naira appreciation: FX turnover drops massively
Turnover at the foreign exchange market plunged to $166 million on Wednesday, 24 hours after hitting…
Electricity tariff hike shows govt has lost touch with reality – Obonga
The national secretary of the Network for Electricity Consumers Advocacy of Nigeria, NECAN and the lead…
We generated N1.3trn revenue in first quarter of 2024 – Customs
The Nigeria Customs Service, NCS, says it generated more than N1.3 trillion revenue in the first…
Increasing electricity tariff by 300% insensitive – PRP
The Peoples Redemption Party, PRP, has said the decision of the federal government to increase electricity…
Convert your dollars to naira before Dangote refinery starts – Omokri to Nigerians
Social Activist, Reno Omokri, has urged Nigerians to convert their dollars into naira. Omokri explained that…
Excitement builds as Ogun hosts international trade fair
Few days to the commencement of the 13th Gateway International Trade Fair, excitement has continues to…
DMO to raise N1.8trn debt via fresh April Savings Bond
The Debt Management Office, DMO, has unveiled plans to raise N1.8 trillion through new issuance and…
Dangote refinery supply of diesel to crash price – IPMAN
The Independent Petroleum Marketers Association of Nigeria, IPMAN, says Dangote Refinery’s commencement of domestic supply of…
Naira appreciation: FX transactions surge with $1bn single-day trade
Turnover at Nigeria’s foreign exchange market surged to the highest in a single day since 2017…
FIRS apologizes over offensive Easter message
The Federal Inland Revenue Service has tendered an apology to the Christian Association of Nigeria and…
Forex: Naira gains N21.85 against dollar
The naira continued its appreciation against the US dollar on Tuesday at both official and parallel…
Dangote Refinery begins supply of diesel, aviation fuel to oil marketers in Nigeria
Dangote Oil Refinery has begun supplying the Nigerian domestic market with petroleum products. The petrol products…
NDIC, EFCC reiterate commitment to combating financial crimes
The Nigeria Deposit Insurance Corporation, NDIC, says it remains committed to ensuring that those who contribute…
Four Nigerian banks delay in filing 2023 financial results
Four commercial banks have said they will delay filing their audited results for 2023. The United…
Epileptic electricity to persist as Nigerian govt announces 11% increase in gas price
The Nigerian government has announced an increase in the wholesale price of gas to power plants…
Epileptic electricity supply: Majority of power plants performing below capacity – NERC
Most power plants in Nigeria perform less than capacity as the nation grapples with an epileptic…
Recapitalization: Jobs losses loom as Nigerian banks battle to escape extinction
There is panic in the Nigerian financial sector over massive job losses as banks battle to…
Fuel subsidy removal reason for Nigeria’s soaring inflation – Study
A study has shown that fuel subsidy removal, not the surge in money supply, is the…
Nigerian Railway Corporation generates N6bn in 2023
The Nigerian Railway Corporation, NRC, generated N6,071 billion in revenue from passenger, cargo transport and other…
Ekiti group drags state govt to court over Cargo Airport records
The Ekiti Patriotic Consultative Forum, a socio-political pressure group, has approached the State High Court for…
Nasarawa will contribute to federation account through Agriculture, Mining – Gov Sule
Governor Abdullahi Sule of Nasarawa State has said his administration’s strategy is to bolster the state’s…
Q1 2024: NGX records 39.8% gains, becomes second best-performing stock in Africa
The Nigerian stock market gained 39.8 per in the first quarter of 2024, becoming the second…
Oil theft: Nigerian Govt mulls crude transport via trucks, barges
The Nigerian federal government plans to adopt trucks and barges to transport crude oil to tackle…
Electricity supply: TCN raises alarm over planned attack on facility
The Transmission Company of Nigeria has raised the alarm about a planned attack on its facility…
Naira appreciated by N660 against dollar since BDCs’ return to FX market – Gwadabe
The President of the Association of Bureaux de Change Operators of Nigeria, ABCON, Aminu Gwadabe, says…
Probe diversion of N20bn intervention fund in Cement Technology Institute – Students tell EFCC
The National Association of Polytechnic Students, NAPS has called on the Nigerian federal government to investigate…
Nigerian govt announces date to commence local vehicle manufacturing
The Nigerian government plans to commence local manufacturing of vehicles in the next ten years. Minister…
Nigeria economy rakes in $1.5bn inflow in days
The Central Bank of Nigeria says Nigeria recorded over $1.5 billion inflow into the economy in…
Nigerians react as FG subsidises Hajj fare with N90bn
Nigerians have faulted President Bola Tinubu’s government for releasing N90 billion to subsidise the 2024 pilgrimage…
CBN removes limit on PAPSS payment services
The Central Bank of Nigeria, CBN, has removed limits placed on trade and payment services transactions…
Manufacturers urge FG to channel palliatives to subsidise local productions
Manufacturers in Nigeria have asked the Federal Government to subside the production industry as a way…
Naira maintains N1,300 exchange rate against USD
The Naira has maintained a N1,300 exchange rate mark against the US Dollar at the close…
Nigeria Sovereign Investment Authority announces 1122% income surge in 2023
The Nigeria Sovereign Investment Authority, managers of the country’s Sovereign Wealth Fund, has announced a 1,122…
Merger looms as CBN raises capital requirements for banks in Nigeria
Bank mergers are imminent as the Central Bank of Nigeria, CBN, has raised minimum capital requirements…
US court sentence crypto king Sam Bankman-Fried to 25 years in prison
A United States entrepreneur and crypto king, Sam Bankman-Fried, has been sentenced to 25 years in…
Cement prices decrease by 26% in Abuja
The price of cement decreased between 22 per cent and 26 per cent for a 50kg…
Healthy food cost surges to N938 daily in Nigeria – NBS
Nigeria’s average healthy diet food cost increased to N938 per day in February from N858 in…
FAAN shuts down KFC outlet at MMIA over discrimination against customer
The Federal Airport Authority in Nigeria, FAAN, has shut down the KFC outlet in Murtala Muhammed…
GTBank Uganda’s transition to Credit Institution aligns with our core strengths in Retail, SME banking – Adeniji
Mr Jubril Adeniji, Managing Director of Guaranty Trust Bank Kenya and Head of East Africa, said…
Why Google blocked 5.5bn adverts, suspended 12.7m accounts
US-based multinational technology corporation Google has blocked over 5.5 billion adverts and suspended 12.7 million others…
FCCPC busts deceptive rice weight claims in Abuja
The Federal Competition and Consumer Protection Commission, FCCPC, has busted a syndicate with deceptive rice weight…
Nigerian govt to unveil N100bn consumer credit soon – FIRS Boss
The Federal Inland Revenue Service Chairman, Zacch Adedeji, said the Nigerian government would unveil its proposed…
FIRS has no plans to hike taxes – Adedeji
The Chairman of the Federal Inland Revenue, Zacch Adedeji, has reiterated the agency’s commitment not to…
Naira closes at N1,300.43 per USD Wednesday
The naira’s appreciation against the US dollar continued on Wednesday, exchanging N1,300.43 per dollar at the…
NNPCL denies reducing fuel price
The Nigeria National Petroleum Corporation, NNPC has debunked reports that it reduced the price of Premium…
ABCON reveals when Naira will appreciate to N1,000 per USD
The Association of Bureau de Change Operators in Nigeria, ABCON, has forecasted when the Naira will…
Dollar not selling at N1,000/$1 – BDCs
The dollar is not selling at N1,000/$1, Bureau De Change, BDC, operators have told DAILY POST.…
Confusion as IBEDC disconnects UCH from power supply over N400m debt
There was confusion on Wednesday as the Ibadan Electricity Distribution Company, IBEDC, announced that it has…
Naira Appreciation: Utilize time bought by CBN – Financial expert, Aja tells govt
A financial analyst and educator, Kalu Aja, has advised the Nigerian government to utilize the window…
Naira Appreciation: Utilize time bought by CBN – Financial expert, Aja tells govt
A financial analyst and educator, Kalu Aja, has advised the Nigerian government to utilize the window…
Group commends Tinubu, CBN for stabilizing Naira
The Independent Media and Policy Initiative, IMPI, has said that the fiscal and monetary policy authorities…
Naira’s appreciation: Emulate NNPCL CEO, Kyari – Shehu Sani tells Dangote, BUA, others
Former lawmaker Senator Shehu Sani has urged Aliko Dangote and other captains of industries to emulate…
Eko Disco appoints Momoh as Acting MD after Sanda removal
Eko Electricity Distribution Company has announced the appointment of Rekhiat Momoh as Acting Managing Director/ Chief…
Speculators in Binance wishing Naira falls to N2,500 against USD – Onanuga
Amid the continued appreciation of the Naira in the foreign exchange market, President Bola Ahmed Tinubu’s…
Naira appreciates to N1,290 per USD amid CBN’s interest rate hike
Naira’s appreciation against the US dollar continued on Monday, exchanging N1,290 and N1,382.95 per USD at…
CBN Gov Cardoso insists all FX backlogs cleared
The Governor of the Central Bank of Nigeria, CBN, Olayemi Cardoso, says those claiming the foreign…
CBN Governor Cardoso explains position on Binance
The Governor of the Central Bank, Olayemi Cardoso, has explained that the apex bank has continued…
BREAKING: CBN raises interest rate to 24.75%
The Central Bank of Nigeria has raised the monetary policy rate, known as the interest rate,…
Forex subsidy to BDC operators reason for Naira appreciation – Finance Analyst, Aja
A financial analyst, Kalu Aja has said the Naira appreciation in the foreign exchange market is…
Footwear sales in Nigeria, SSA countries contribute $24bn to global apparel exports
Footwear sales in Nigeria, South Africa, and other Sub-Saharan African countries contributed $24 billion to global…
Crude oil price surges to $85.67 amid supply concerns
The price of Brent crude oil surged to $85.67 and the West Texas Intermediate crude rose…
Ginger famers lost over N12bn to fungal disease – Nigerian Govt
The Nigerian federal government has said the outbreak of the ginger blight disease in four states…
FEC okays 2% quota, investment fund for youth
The Federal Executive Council meeting presided over by President Bola Tinubu has approved two initiatives aimed…
Naira appreciates to N1,360 against dollars at forex market
The naira’s appreciation against the US dollar continued on Monday, exchanging N1,360 and N1,408.04 per USD…
FX crisis: Don’t sell above N1,269 per dollar – CBN orders BDCs
The Central Bank of Nigeria, CBN, has provided Bureau De Change, BDCs, operators with $10,000 at…
Airfares rise by 18.03% in Nigeria – NBS
The average airfare paid by passengers for specified routes for a single journey increased by 18.03…
Transport fare paid by commuters within cities rose by 46.98% – NBS
The average fare paid by commuters for journeys within the city increased by 46.98 per cent…
Binance breaks silence on employee’s escape from custody in Nigeria
Binance, a cryptocurrency platform, has reacted to the report that one of its detained employees, Nadeem…
BDC operators explain Naira appreciation against USD
The Association of Bureau De Change Operators of Nigeria, ABCON, has said the oversubscription of recent…
12.5kg cooking gas price surged by 46.88% – NBS
A 12.5 kilogram cylinder of Liquified Petroleum Gas, known as cooking gas, increased by 46.88 per…
Binance executive reportedly escapes from custody in Nigeria
Amid the standoff between the Nigerian government and Binance, a cryptocurrency platform, one of the two…
FG files criminal charges against Binance
The Federal Government has initiated criminal proceedings against Binance, a prominent cryptocurrency exchange platform over alleged…
Nigerian govt gives update on N50,000 presidential conditional grant scheme
The Nigerian Federal Government announced that applicants of its N50,000 Presidential Conditional Grant Scheme for citizens…
Diesel price surges by 50% – NBS
The average price of automotive gas oil, known as diesel, increased by 50.20 per cent on…
Prices of rice, garri, yam surge by over 100% – NBS
The prices of rice, garri, and yam, popular staple foods in Nigeria, surged to 134.81 per…
Cooking gas price hike: APC chieftain asks Tinubu to intervene
A chieftain of the ruling All Progressives Congress, APC, in Osun State, Olatunbosun Oyintiloye, has asked…
N40bn metre contract: Adelabu woos local manufacturers after controversy
Amid the controversy surrounding the award of a N40 billion metre contract to a foreign firm,…
States in Nigeria at risk of insolvency – CPPE raises alarm
The Centre for the Promotion of Private Enterprise, CPPE, has raised the alarm that the majority…
Economic hardship: 31 states owe CBN N330bn salary bailout funds
A document from the Central Bank of Nigeria showed that thirty-one states owed the apex bank…
Naira appreciates by N340 against USD in four weeks
A review of foreign exchange trading in the past four weeks shows that Naira gained N234.01…
USD supply dips by 30.7% despite Naira appreciation
The supply of United States Dollar dipped by 30.7 per cent to close at $199.71 million…
Investors gain N146.95bn in market capitalization at NGX
Investors at the Nigerian Exchange Limited, NGX, gained N146.95 billion in market capitalization as the All-Share…
Ekiti Revenue Service pushes for Central Billing System to curb leakages, boost IGR
In a bid to bolster its revenue generation and ensure transparency, the Ekiti State Revenue Service,…
Customs suspends 25% penalty on smuggled vehicles users
Following the directive of the Minister of Finance and the Coordinating Minister of the Economy, Wale…
Currency Swap: Naira appreciates against Dollar
The Nigerian Naira has experienced a slight appreciation at the official market, trading at N1,431.49 to…
Foreign investors to pick talents from Abia grassroots sports – Gov Otti
Abia State Governor, Alex Otti has said his administration has set up mechanisms to revive inter-house…