The Nigeria Extractive Industries Transparency Initiative (NEITI), says it has advanced progress in its conduct of…
Category: Business
Naira records N169 weekly loss
The naira recorded a weekly depreciation of N169.24 against the US dollar in the foreign exchange…
Tinubu appoints Zenith Bank founder Jim Ovia Chairman of NELFUND
President Bola Tinubu has approved the appointment of Mr. Jim Ovia, a renowned banker and businessman,…
Tinubu govt borrows N3.8trn from CBN in 6 months
The President Bola Ahmed Tinubu Government of Nigeria received an additional N3.8 trillion in Ways and…
Netherlands targets $250 investment in Nigeria
The Netherlands plans to invest another $250 million in Nigeria in the coming months. Prime Minister…
NGX records rebound as investors gain N26bn in single day
The Nigerian Exchange Limited, NGX, has returned to positive sentiment as investors gained N26 billion on…
Naira slumps seventh times against Dollar in days at Foreign Market
The Naira has slumped seven times in recent days against the US dollar at the foreign…
Prices of fuel not changing – NNPCL explain reason for scarcity
The Nigerian National Petroleum Corporation Limited, NNPCL, on Thursday that the prices of petroleum products are…
Bitcoin dips below $64,000 amid cryptocurrency slump
The price of Bitcoin, a cryptocurrency platform, fell below $64,000 on Thursday morning, with over $209…
Nigerian telecom operators ask NCC to approve price hike
Telecommunication operators in Nigeria have said they are the only service providers that have not implemented…
Naira depreciation: Investors lose N673bn in NGX
Investors at the Nigerian exchange market experienced a decline again on Wednesday, losing N673 billion in…
NNPCL keeps mum as fuel scarcity hits Abuja
The Nigerian National Petroleum Company Limited, the sole importer of petrol in Nigeria, has kept mum…
Opaque loans – AfDB president, Adesina reveals obstruction to African countries’ growth
The President of the African Development Bank, Akinwumi Adesina, has said that non-transparent resource-backed loans undermine…
Naira fails to appreciate against Dollar in forex market despite CBN intervention
The Naira has failed to appreciate against the US dollar at the foreign exchange market despite…
Why Naira depreciated against Dollar – BDC operators
The Association of Bureau De Change Operators of Nigeria, ABCON, has blamed peer-to-peer cryptocurrency platforms like…
FX crisis: BDC operators reveal plan to defend Naira against Dollar
The President of the Association of Bureau De Change Operators of Nigeria, ABCON, Aminu Gwadabe, has…
CBN disowns notice on cryptocurrency transactions
The Central Bank of Nigeria says a notice circulating on social media about the risk of…
Dangote Refinery makes clarification on N940 diesel price slash
Dangote Petroleum Refinery said its N940 per litre diesel price cut is only applicable to customers…
Nigeria’s e-payment transactions hit N234trn in Q1 2024 – NIBSS
Nigeria’s e-payment transactions surged to N234 trillion in the first quarter of 2024.Nigeria Inter-Bank Settlement System,…
Naira depreciation: Equity market records N200bn loss in NGX
Trading activities on the floor of the Nigerian stock market declined on Tuesday, making investors lose…
Naira swap: EFCC slams fresh charge on Emefiele for printing N684.5m with N18.9bn
The Economic and Financial Crimes Commission, EFCC, has slammed a fresh charge at the High Court…
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…