Fuel landing cost rises, marketers fear high Dangote petrol price
Oil marketers are concerned about the delay in announcing the price of Premium Motor Spirit, popularly called petrol, being produced...
CBN Raises N9.27tn via NTBs as Investors Seek Longer Maturities, Higher Returns
As investors seek higher returns and long-time maturities, the Central Bank of Nigeria (CBN) has raised a whooping N9.27 trillion...
Petrol price increase could force SMEs to shut down operations – MAN
The Manufacturers Association of Nigeria (MAN) has reacted to the increase in petrol prices stating that Small and Medium Scale...
Otedola hails Dangote on refinery petrol rollout, says it’s time to sell depots as scrap
Billionaire businessman Femi Otedola has lauded Nigeria’s richest man, Aliko Dangote, for advancing Nigeria’s economic independence through the successful commencement...
Petrol price seen hitting N1,300/litre on NNPC cash crunch
The premium motor spirit (PMS), also known as petrol, is expected to sell at N1,300 per liter, largely due to...
With Rising Subsidy Costs, NNPC Finally Admits Owing Foreign Petrol Suppliers Huge Debts
With petrol subsidy costs skyrocketing, after months of denial, the Nigerian National Petroleum Company Limited (NNPC), yesterday finally admitted that...
Economic analysis: Growth on paper, struggle on the ground: Nigeria’s economic paradox
Nigeria, Africa’s most populous nation, is grappling with a troubling paradox. Despite positive macroeconomic indicators, including a rise in GDP...
Inflation, high interest dangerous to economic growth – Analysts
Analysts have said that the multiple factors of persistent inflation, a high interest rate environment, and unemployment have eroded the...
GDP Grows By 3.19% in Q2
President Bola Tinubu welcomed the latest report by the National Bureau of Statistics (NBS) on the state of the economy,...
FX Turnover Increased to N110.35tn in Seven Months on Dollar Supply
The Nigerian official foreign exchange (FX) market witnessed a significant increase in turnover, rising to N110.35 trillion in seven months...
FX turnover hit $7.4bn in July – Report
The foreign exchange turnover in July stood at N11.48tn ($7.39bn) at the official trading window for the Nigerian currency, which...
Nigeria owes NNPCL N4.56 trillion for selling petrol at subsidized price
The Nigerian National Petroleum Company Limited (NNPCL) has informed the Federal Account Allocation Committee (FAAC) of an outstanding of N4.56...
Naira down to N1,610/$ in parallel market
The Naira yesterday depreciated to N1, 610 per dollar in the parallel market from N1,600 per dollar on Monday. Similarly,...
Stock Market Appreciates by N66.13bn on Investors’ Demand for Shares
The Nigerian stock market recovered from a bearish run yesterday, as investors’ investments went up by N66.13 billion, propelled by the demand for Seplat Energy...
Stock Market Drops by N790.38bn in Three Days as Investors Trade with Caution
The local stock market for the third consecutive session has recorded profit-taking, dropping by N790.38 billion as investors trade with blue...
Filling stations shut as depots battle fuel shortage
Nigerians are still struggling to get Premium Motor Spirit, popularly known as petrol, as depots continue to battle fuel shortage....
CBN eases FX pressure, sells $876.26m to end-users at N1,495/$
The Central Bank of Nigeria, CBN, in a bid to ease pressure in the foreign exchange (FX) market, sold $876.26...
Nigerians turn to local foods amid soaring inflation
In June, Nigeria’s inflation reached a 28-year high of 34.19 per cent, causing hardship for many Nigerians. The situation is...
EFC Report: Windfall Tax Amid Industry Recapitalisation Will Break Banks
A new report has warned that implementing a windfall tax amid a Central Bank of Nigeria (CBN) mandated recapitalisation could...
Bank directors disown chairmen’s views on windfall tax
The Bank Directors Association of Nigeria have distanced itself from the views of some bank chairmen on the proposed foreign...
Banks, others shut as hunger protest holds
Banks and other financial institutions in the country will be closed on Thursday, August 1, 2024, as the planned hunger...
Fuel crisis lingers as vessels berth at Lagos ports
The fuel crisis being experienced by Nigerians is yet to abate even as petrol vessels birthed at Lagos and other...
NCC orders telcos to reactivate all lines barred over NIN-SIM verification issues
The Nigerian Communications Commission (NCC) has ordered all telecommunication companies in the country to reactivate all lines they have barred...
Three Days to Nationwide Protests, Nigerians Still Divided on Action
Deji Elumoye, Chuks Okocha, Ikechukwu Aleke, Folalumi Alaran in Abuja, John Shiklam in Kaduna, Hammed Shittu in Ilorin, James Sowole in Abeokuta, Segun Awofadeji in Bauchi, Laleye Dipo...
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