Nigeria’s oil production climbs to 1.6m barrels
Nigeria’s crude oil production is recovering, climbing right back to about 1.6 million barrels. Chief Upstream Investment Officer, NNPC Upstream...
59% of Nigerian E-banking Customers Have Been Victim to Fraud
A survey carried out by Agusto&Co has revealed that 59 per cent of bank customers sampled indicated that they have...
Nigeria’s foreign trade declines by N1.24tn
Nigeria’s total merchandise trade fell by N1.24tn, from N12.84tn in the second quarter of 2022 to N11.59tn in the third...
Nigerians with NIN rise to 92 million
The number of individuals with National Identification Numbers grew to 92.63 million in November, according to new industry statistics from...
Naira depreciation adds N9tn to foreign debt burden
The value of naira to dollar fell from N196.92 in June 2015 to N414.72 in June 2022, worsening Nigeria’s foreign...
Roads are depreciating assets, says Fashola
The Minister of Works and Housing, Babatunde Fashola, has described roads as depreciable assets that must be maintained in order...
Fuel scarcity: We have 2billion litres available – NNPC
The Nigerian National Petroleum Company Limited says it has two billion litres of Premium Motor Spirit in stock. This is...
Fuel Scarcity: No planned price hike, says FG, queues spread
For the first time in weeks since the scarcity of Premium Motor Spirit, popularly called petrol, began, the Federal Government...
TAX BURDEN: Beverages sector revenue to decline 40%
The Manufacturers Association of Nigeria, MAN has said that the Nigerian beverage subsector will decline by 40 percent and lose...
FG canvasses alternative funding for public varsities
Minister of Works and Housing, Babatunde Fashola, has said that alternative funding remains a viable solution for public universities to...
Marketers warn of possible petrol price increase
Oil marketers, on Thursday, issued a stern warning to the public, asking them to expect to buy petrol at ‘any...
Excess Crude Account falls by 89% to $472,513
Nigeria’s excess crude account has declined by 89 per cent in the last eight years, moving from $4.1bn in November...
Buhari unveils new Naira notes
President Muhammadu Buhari has unveiled the new currency notes on Wednesday morning before the federal executive council (FEC) meeting at the...
New naira notes for circulation before Dec 15
The Governor of the Central Bank of Nigeria, Godwin Emefiele, has announced that the President, Major General Muhammadu Buhari, will...
Oil theft: Nigeria loses $2bn in eight months
The ad-hoc committee set up by the Senate to investigate oil theft and consequent damage on the nation’s economy said...
16.5% interest rate: Private sector predicts factories shutdown, higher bad loans
The Monetary Policy Committee of the Central Bank of Nigeria has raised the benchmark interest rate from 15.5 to 16.5...
Senate Backs CBN on Naira Redesign After Rowdy Session
The Senate has resolved to provide legislative support to the Central Bank of Nigeria (CBN) for the redesign of the...
FG disagrees as court stops Nigeria Air deal
The Federal High Court, Lagos Judicial Division, on Tuesday, issued an order of interim injunction restraining the Federal Government from...
FX scarcity, fuel hike push inflation to 21.09%
The increase in the price of fuel, scarcity of foreign exchange, and disruption in food supply chain pushed headline inflation...
Dollar demand surge on new naira hits small businesses
Many micro, small and medium enterprises as well as retail traders are reviewing the prices of their products or temporarily...
CBN releases $3.5bn for foreign education under Buhari
Data obtained from the website of the Central Bank of Nigeria on Sunday revealed that Nigeria’s educational sector suffered massive...
Naira redesign: CBN directs banks to accept deposits beyond cashless policy limit
As part of efforts to ensure full compliance with the Naira redesign deadline, the Central Bank of Nigeria (CBN) has...
Telcos, banks to collect VAT on taxable supplies
MTN, Airtel and deposit money banks in Nigeria have been appointed by the Federal Inland Revenue Service to withhold or...
Marketers say tough times as petrol hits N200/litre
The cost of Premium Motor Spirit, popularly called petrol, has risen to as high as N200/litre at depots, which means...
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