Naira weakens to 770.38/$ at official market
The naira slumped further to the dollar after closing at 770.38/$ at the end of trading on the investor &...
Power supply dream and new electricity law
President Bola Tinubu’s assent, the other day, to the electricity bill passed in July 2022 seeking to repeal the Electricity...
FG grants six companies license to import petroleum products
The Federal Government of Nigeria (FGN) has approved the issuance of licenses to six new companies to import petroleum products...
Inflation rose 67 times under Emefiele, says report
Nigeria’s inflation rate rose not less than 67 times since June 2014, according to findings by The PUNCH. Analysis of the...
CBN removes saving, withdrawal limits on domiciliary accounts
The Central Bank of Nigeria has lifted the limits placed on domiciliary accounts. In a statement by the CBN on...
Subsidy Removal: Marketers Demand Release Of N30.96trn Worth Of Fuel From NNPCL
As the Nigerian National Petroleum Company Limited (NNPCL) hands-off the monopoly of petrol importation, petroleum marketers have demanded immediate release...
Unified Exchange Rate Will Yield Positive Results, Enhance FDI
Sustenance of the implementation of the unification of the foreign exchange rate, which is one of the several policy announcements...
World Bank: Direct Subsidies on Oil, Gas, Coal Cost Govts $1.25tn Annually
The burning of oil, gas and coal causes seven million premature deaths around the world annually through bad air that...
Naira weakens to 702/$, CBN fresh FX supply likely
The naira traded at 702.19/dollar at the close of business on Thursday, as the Central Bank of Nigeria has allowed...
FG issues two oil export terminal licences, eyes $11bn
The Federal Government, on Tuesday, issued and signed licences for the establishment of two crude oil export terminals, capable of...
Nigeria increases oil export storage capacity by 4m barrels
The Federal Government, yesterday, offered its first terminal establishment licences under the Petroleum Industry Act (PIA) to Nigeria National Petroleum...
FG eyes N124bn from new import tax
The Federal Government is set to make about N124.26bn in a year from the imposition of a 0.5 per cent...
Nigeria Earns N5trn From Oil Sales In Q1
Nigeria recorded N5.14 trillion from crude oil sales in the first three months of 2023, from N4.9 trillion realized over...
Amid Crude Oil Production Decline, Nigeria’s Condensate Output Falls by 400,000 Barrels
Data released by the Nigerian Upstream and Downstream Petroleum Regulatory Commission (NUPRC), has revealed that Nigeria’s condensate production dipped 400,000...
Naira Falls 1.02% After Closing Steady For 7 Days At Official Market
Nigeria’s currency yesterday depreciated by 1.02 per cent (N4.83/$1) at the Investors and Exporters (I&E) forex window, Nigeria’s official foreign...
Prof-taking Persist as Stock Market Depreciates by N37bn
Investors' profit-taking continued to dominate the stock market of the Nigerian Exchange Limited (NGX) as capitalization extended losses for a...
Nigeria, others slow Africa’s GDP growth by 65% – Report
Nigeria, Egypt, and South Africa were responsible for 65 per cent of Africa’s Gross Domestic Product slowdown, McKinsey has disclosed....
Subsidy: Reps demand NNPCL audit over unaccounted N2tn assets
The House of Representatives has called for a forensic audit of the Nigerian National Petroleum Company Limited to determine its...
International airlines eye $803bn revenue, 4.5 billion passengers
The International Air Transport Association announced an expected strengthening of airline industry profitability in an upgrade of its outlook for...
Foreign trade declines by N2.6tn over FX shortage – NBS
The total value of foreign trade has declined by N2.55tn as Nigeria recorded lower exports within a year, according to...
NNPC To Discontinue Crude Swap, Targets Cash Payments For Petrol Imports
With the removal of subsidy on petrol in the country, the Nigerian National Petroleum Company Limited (NNPC) is set to...
Fuel Subsidy: Electricity Workers Back Planned Labour Strike
The National Union of Electricity Employees (NUEE) has directed its members to withdraw their services nationwide over the sudden removal...
Fuel importation: Marketers demand equal access to forex
Oil marketers have projected that the ex-depot price of Premium Motor Spirit, popularly called petrol, would hit N515/liter once they...
Nigeria’s Tax-To-GDP Ratio Rises To 10.86%
Nigeria’s tax-to-Gross Domestic Product (GDP) ratio, which in the last 12 years hovered around five to six percent, has risen...
Subsidy Removal: Nigerians May Pay N700/Litre For Petrol From July
Hard times await motorists as the cost of any other users of Premium Motor Spirit, (PMS), otherwise called petrol as...
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