Naira continues to slump against dollar despite CBN’s intervention

The naira has continued its depreciation against the US dollar for the fifth time despite the…

‘Functional refineries can solve Nigeria’s forex crisis’ – Oborevwori

Governor Sheriff Oborevwori of Delta State has said that fixing the refineries in Nigeria will save…

ASR Africa kicks off construction of N250 million Abdul Samad Rabiu Sport Complex for University of Jos

The Abdul Samad Rabiu Africa Initiative (ASR Africa), the philanthropic initiative of the Chairman of BUA…

Electricity decentralization: NERC transfers oversight power to ESERB

The Nigerian Electricity Regulatory Commission, NERC, has transferred regulatory oversight of the electricity market in Ekiti…

Inadequate financing, insufficient gas supply responsible for energy deficit – Minister

The Minister of Power, Adebayo Adelabu, has identified some factors responsible for the energy deficit across…

CBN sells additional $10,000 to BDCs at $1,021 per dollar

The Central Bank of Nigeria, CBN, has approved the sale of an additional 10,000 dollars to…

Subsidy removal: Nigerian Govt announces price for CNG

The Nigerian government has fixed the price of Compressed Natural Gas at $1.57MMBtu. Programme Director/Chief Executive…

NNPCL targets additional 12,000bpd crude oil production as Awoba Field restarts operation

The Nigerian National Petroleum Limited and its Joint Venture Partner, Newscross Exploration and Production, have restarted…

Drugs price hike: Life expectancy reduction imminent in Nigeria – Experts

The rising price of malaria, antibiotics, anti-diabetes, hypertension drugs and other pharmaceutical products have heightened the…

Again, Naira depreciates by N64 against Dollar at forex market

Again, the Naira lost N64.5 against the US dollar in the foreign exchange market. FMDQ data…

Eko Disco: WPG sacks Tinuade Sanda

West Power & Gas Limited, WPG, the majority shareholder of Eko Electricity Distribution Company, EKEDC, has…

Kogi election: CBN governor ordered to appear in court

The Kogi Governorship Election Petition Tribunal sitting in Abuja, on Monday, ordered the Governor of the…

FCCPC shuts Chinese Supermarket over discrimination in Abuja

The Federal Competition and Consumer and Protection Commission (FCCPC), on Monday, sealed up an Abuja-based Chinese…

Price of kerosene surges to N1,354.50 per litre

The price of Household Kerosene (HHK) paid by consumers in Nigeria rose to N1,354.40 in March…

Nigeria to raise $30bn from inaugural forex bond

Nigeria targets up to $30 billion from its inaugural foreign currency-denominated bond issuance planned for June,…

Dangote Refinery to begin petrol sales in Q4 – S & P

Dangote refinery will start supplying petrol in the fourth quarter of 2024, according to Standard and…

First Bank appoints Alebiosu Acting MD after Adeduntan resignation

Nigeria’s leading commercial bank, First Bank of Nigeria Limited has appointed Olusegun Alebiosu as its acting…

Nigerian Aviation workers threaten to shut down sector over 50% revenue deduction

The Air Transport Service Senior Staff Association of Nigeria, ATSSSAN, has threatened to ground aviation operations…

Fuel to sell N500 per litre as Port Harcourt Refinery set to release product – Marketers

Oil Marketers have said the Port Harcourt Refinery is almost set to release Premium Motor Spirit,…

Naira vs Dollar: EFCC resumes clampdown on Binance, other cryptocurrency platforms

The Economic and Financial Crime Commission, EFCC, has continued its crackdown on Binance and other cryptocurrency…

Nigeria to generate $4bn yearly from crude oil commodities exchange – LCFE

Lagos Commodities and Futures Exchange has projected that Nigeria will generate $4 billion annually from trading…

Post-insurgency Recovery: Group calls for increased budgetary allocation to NEDC

The Kulen Allah Cattle Rearers Association of Nigeria, KACRAN, has called on President Bola Ahmed Tinubu…

Average price of cooking gas spiked by 7.10 percent in March – NBS

The National Bureau of Statistics, NBS, said the average price of 5kg cooking gas rose from…

Tinubu appoints board of NAICOM (Full List)

President Bola Tinubu has approved the appointment of a new board for the National Insurance Commission,…

FCCPC enforces price regulations in Nasarawa markets

The Federal Competition and Consumer Protection Commission, FCCPC, continued its crackdown on price irregularities in local…

Nigeria commences 20, 000 bpd crude production at Madu Field – NNPCL

The Nigerian National Petroleum Company Limited, NNPCL and its joint venture partner in OML 85, First…

Naira depreciates three times against dollar in five days

The naira depreciated three times against the dollar in the last week in the foreign exchange…

Elon Musk threatens X users involved in engagement farming

The owner of micro-blogging site, X, Elon Musk, has warned users against indulging in engagement farming.…

Why Nigerian govt issued N8trn treasury bills – Finance Minister, Edun

Minister of Finance, Wale Edun, has said that the Nigerian Government issued N8 trillion in government…

Israel, Iran war: Oil prices surge amid tension

The price of Brent crude is now $90.54 per barrel, up from $87 days after the…

NPA secures $700m facility from Citibank to rehabilitate Apapa, Tin-Can Ports

The Nigerian Ports Authority (NPA) has negotiated a loan of $700million from the Citibank to be…

N3.2tn electricity subsidy needed – NERC gives reason for tariff hike

The Nigerian Electricity Regulatory Commission, NERC, says the federal government needs to provide N3.2 trillion in…

N7.3tn remitted to Federation Account in Q2 2023 amid revenue increase – RMAFC

The Revenue Mobilization Allocation and Fiscal Commission has said that N7.3 trillion was remitted into the…

Naira loses N81 to dollar

The naira recorded N81.34 depreciation against the US dollar in a single day at the foreign…

CBN Gov Cardoso explains what will sustain naira’s appreciation

The governor of the Central Bank of Nigeria, Olayemi Cardoso, says continued liquidity in the foreign…

CBN reduces banks’ Loan-to-Deposit Ratio to 50%

The Central Bank of Nigeria, CBN, has reduced deposit money banks’ Loan-to-Deposit Ratio, LDR, to 50…

Naira appreciation: Nigeria gets fresh $600m into FX reserves

Governor of the Central Bank of Nigeria, Olayemi Cardoso, says Nigeria received $600 into the country’s…

Why Naira appreciation yet to fully impact cargo imports – CPPE

The Centre for the Promotion of Private Enterprise has explained that the impact of Naira appreciation…

NPA secures $700m for Tincan Island, Apapa Lagos ports rehabilitation

The Nigerian Ports Authority has secured a $700 million loan from Citibank and funded the United…

Fuel subsidy remains removed – Nigerian govt faults El-Rufai, marketers

The Nigerian Government has insisted that fuel subsidy has been removed. The Federal Government faulted former…

Naira gains N75 against dollar in single day

The naira has appreciated by N75.4 against the US dollar in a single day to bounce…

Electricity tariff hike: 65 per cent of businesses in Nigeria may close down – Organised Private Sector

The Organised Private Sector, OPS, said that over 65 percent of private businesses in Nigeria, may…

Tariff Hike: Disco dares NERC, fails to refund wrongly billed customers

Days after issued an Electricity Distribution Company, Disco, was ordered to refund all customers who were…

Diesel price crash will impact prices of sundry goods, services – President Tinubu

President Bola Ahmed Tinubu has commended the Dangote Group over its recent price reduction of Automotive…

Nigeria’s inflation will drop to 23% by 2025 – IMF

The International Monetary Fund, IMF, says Nigeria’s inflation will drop to 23 per cent in 2025…

Naira vs USD: Nigeria’s FX reserves drop to $32.29bn

Nigeria’s foreign exchange reserves plummeted to $32.29 billion amid the Central Bank of Nigeria’s efforts at…

Naira appreciation: FCCPC vows to monitor, investigate price hike

The Federal Competition and Consumer Protection Commission (FCCPC) has resolved to monitor and investigate unusual hikes…

Naira records first depreciation against Dollar in months amid FX reserves decline

The Naira recorded a marginal depreciation against the Dollar in the foreign exchange market for the…

Tariff Hike: AEDC dares NERC, fails to refund wrongly billed customers

Days after the Abuja Electricity Distribution Company, AEDC, was ordered to refund all customers who were…

We can’t modify new electricity tariff – IBEDC

Regional Head of Ibadan Electricity Distribution Company, IBEDC, in Ilorin, Kwara State, Engr Toyin Akinyosoye, says…

Rice price decreases by 19% in Abuja despite rising inflation

Price of a 50-kilogram bag of rice (locally parboiled) has decreased by 19 per cent to…

BREAKING: Dangote crashes price of diesel to N1000 per litre

Dangote Petroleum Refinery has announced a reduction of the price of diesel from N1200 to N1,000…

Nigeria’s economic growth forecast at 3.3% in 2024 – IMF

The International Monetary Fund has adjusted Nigeria’s economic growth forecast to 3.3 per cent in 2024.…

Nigerian govt eyes tax incentive measures to boost economy

Minister of Finance, Wale Edun, says the Nigerian Federal Government targets the reduction of the cost…

Tinubu unveils Single Trade Window Policy to check import-export bottlenecks

The Federal Government has launched an ambitious policy to check infractions in the nation’s import and…

South-East electricity consumers condemn 300% tariff hike, demand prepaid meters

The South-East Electricity Consumers Association (SEECA) has condemned the 300 per cent increase in tariff announced…

Bakers reveal why bread prices soar high

The Premium Bread Makers Association of Nigeria, PBAN, has revealed the reasons behind the growing cost…

More economic hardship coming, change your strategy – Primate Ayodele tells Tinubu

The Leader of INRI Evangelical Church, Primate Elijah Ayodele, on Tuesday advised President Bola Tinubu to…

Prices surge despite Naira appreciation against Dollar

The Prices of goods and services in Nigeria have continued to soar despite the gains of…

Nigerian govt to sell crude oil in Naira to Dangote, other local refineries

The Nigerian government has agreed to sell crude oil to Dangote and local refineries to boost…

Why Nigerians lost faith in Naira – Finance Minister, Edun

Minister of Finance, Wale Edun, says Nigerians are saving in Dollars because they have lost faith…

Naira appreciation will impact inflation between three to six months – Teriba

Dr Ayo Teriba, the chief executive of Economic Associates, EA, says the recent Naira appreciation will…

35 illegal tax collectors facing prosecution – Benue IRS

The Acting Chairman of the Benue State Internal Revenue Service (BIRS), Emmanuel Agena, has revealed that…

Inflation bites harder, renders N20, N10, N5 ‘irrelevant’

Across major markets, prices of goods are moving away from the lower denomination of the Naira…

Why prices of goods are on the increase in Nigeria – Manufacturers

Nigerian manufacturers said the high cost of diesel is why the prices of goods are high…

Naira appreciates to N1,000 per dollar at FX black market

The Naira appreciated to N1000 per US dollar as Monday’s foreign exchange market commenced. A Bureau…

TCN blames fire incident for national grid collapse

The Transmission Company of Nigeria, TCN, says a fire incident caused the collapse of the national…

Nigeria’s food inflation surges by 40.01% in March – NBS

Nigeria’s food inflation surged to 40.01 per cent annually, which is 15. points higher compared to…

BREAKING: Nigeria’s inflation increases to 33.20% in March

Nigeria’s inflation rate rose to 33.20 per cent in March 2024 from 31.70 per cent in…

Banks revenue surge by 38.9% amid CBN’s cashless policy

The combined revenue from electronic banking of 10 listed banks rose by 38.9 per cent last…

Nigeria set to release March inflation rate

The National Bureau of Statistics is set to unveil inflation figures on Monday, March 15, 2024.…

INTERVIEW: PIA: 3% allocation to oil producing communities total mockery – Activist, Phenson

An environmental activist and President General, Akwa Ibom Oil Producing Community Development Network, Dr Ufot Phenson…

Tariff Hike: Nationwide darkness looms as electricity workers threaten strike

Nationwide darkness looms as the National Union of Electricity Employees, NUEE, has insisted on withdrawing their…

Nigerian govt urges citizens to report draconian price increases

The Federal Competition and Consumer Protection Commission, FCCPC, has urged Nigerians to report any arbitrary price…

Intervene in Dangote refinery’s diesel price – APC chieftain Oyintiloye urges Tinubu

A chieftain of the All Progressives Congress, APC, in Osun, Olatunbosun Oyintiloye, has called on President…

Nigerian govt reveals reason for drop in crude oil production

The Nigerian government says its encountered problems on the Trans Niger Pipeline and other maintenance activities…

CNG: Nigerian govt eyes 25,000 jobs, $2.5bn investment in four years

The federal government targets over 25,000 jobs and $2.5 billion worth of investment in four years…

FG reveals revenue received from MDAs in February

The Minister of Finance and Coordinating Minister of Economy, Wale Edun, has announced the earnings of…

Oil theft: Troops recover N637m worth of stolen crude, arrest 36 suspects

The Nigerian troops say its operations in the South-South region have led to the recovery of…

Fleeing Binance Executive, Anjarwalla found as Nigerian govt commences extradition

Nigerian government says Binance executive, Nadeem Anjarwalla, who escaped custody in Nigeria, has been found in…

We raked in N12.3trn in 2023 — FIRS

The Federal Inland Revenue Service, FIRS, said it recorded unprecedented progress in revenue collection, culminating in…

Naira best-performing currency in April, to exchange below N1,000 per Dollar – Goldman Sachs

Goldman Sachs says the continued surge of the Naira against the Dollar has made it the…

Naira appreciates by N60 against dollar after Eid-el-fitr holidays

The Naira appreciated by N60 against the US dollar after the Eid-el-Fitr holidays. A Bureau De…

Libya displaces Nigeria as largest crude oil producer in Africa – OPEC

Libya displaced Nigeria, the largest producer of crude oil in Africa, in March. This is according…

Tariff hike: FG still subsidising electricity – Adelabu

The Minister of Power, Adebayo Adelabu, has said the Federal Government is still paying subsidies on…

World Bank reveals solution to economic growth in Nigeria, other West African countries

The World Bank has told Nigeria and other West African countries to imbibe a more stable…

Electricity subsidy, tax breaks detrimental to productivity – IMF

The International Monetary Fund has said electricity subsidies, tax breaks, or holidays are detrimental to productivity…

Electricity tariff will reduce if exchange rate drops to N1,000/$ – Adelabu

Minister of Power, Adebayo Adelabu has claimed that the electricity tariffs that were recently increased, will…

Lagos-London fare: Analyst Aja tells Onyema’s Air Peace how to edge out foreign airlines

A financial analyst, Kalu Aja, has given Allen Onyema’s Air Peace solution to edge out foreign…

Nigeria’s crude Bonny Light surges in March – OPEC

Nigeria’s crude oil Bonny Light surged to $87.86 per barrel in March 2024 from $85.65 per…

BDCs ask CBN to ban non-oil exporters from obtaining FX at official market

The Association of Bureau De Change Operators of Nigeria, ABCON, has told the Central Bank of…

Nigeria’s inflation will surge to 32.65% in March – CAPE economic research

Ahead of the release of Nigeria’s inflation rate for March, CAPE Economic Research and Consulting says…

Recapitalisation: CBN gives reason for exclusion of banks’ retained earnings

The Central Bank of Nigeria, CBN, has reiterated that it excluded banks’ retained earnings to meet…

Nigeria’s electricity supply increased by 14.64 in 2023 – NBS

Nigeria’s electricity supply increased by 14.64 per cent in the fourth quarter of 2023 on a…

Nigeria’s unmetered electricity customers decreased to 5.83m in 2023 – NBS

Unmetered electricity customers in the Nigerian electricity supply industry, NESI, decreased to 5.83 million in the…

Global financial institutions lost $12bn to cyberattacks – IMF

The International Monetary Fund, IMF, has revealed that financial institutions worldwide lost $12 billion to cyberattacks…

Natural gas crucial in fueling Nigeria’s economic growth – Kyari

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mr Mele Kyari, has…

US inflation surges to 3.5% in March

The United States inflation figure increased to 3.5 per cent in March from 3.2 per cent…

Kaduna Electric sets up Rapid Response Teams

Kaduna Electric has set up rapid response teams to respond to downtime on Band A feeders…

Galaxy Backbone CEO, Adeyanju extends Eid-ul-Fitr greetings to Muslims

Prof Ibrahim Adeyanju, the Managing Director and Chief Executive Officer of Galaxy Backbone, has extended warm…