Amid 27.50% MPR, Economic Challenges, Prime Lending Rate Rise to 18.19%
On the back of tightening stance by the Central Bank of Nigeria (CBN), average prime lending rate to bank customers...
FG fines Multichoice N766m over privacy breaches
The Federal Government, through the Nigeria Data Protection Commission, has imposed a fine of N766,242,500 on Multichoice Nigeria for breaching...
Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn
Despite a tumultuous economic climate, Nigeria’s non-pension asset management industry experienced remarkable growth in 2024, with total assets under management...
Food inflation: NSA, 36 states launch joint action
The 36 state governors have agreed to work closely with the Federal Government to harmonise levies, eliminate illegal checkpoints, and...
Petrol imports drop 54% as Dangote boost supply
Nigeria’s reliance on imported petrol dropped significantly in the first quarter of 2025, with the country’s petrol import bill crashing...
World Bank retains Nigeria’s growth at 3.6%
The World Bank has reiterated its projection that the Nigerian economy would grow by 3.6 per cent in 2025 despite...
Petrol: 6 depots slash prices as competition heightens in downstream sector
The Nigerian Upstream Petroleum Regulatory Commission says PE Energy Limited’s report will boost revenue generation. The body made this observation...
Market capitalisation hits N70.89tr as 36 stocks close in green
The Nigerian stock market sustained its upward momentum on Tuesday, gaining N259 billion as investor buying interest strengthened across key...
Sixteen years after meltdown, NGX market cap surges by 347.5%
Sixteen years after the 2008 global financial crisis that triggered a major downturn in Nigeria’s capital market, the Nigerian Exchange...
FG’s gas-powered vehicle scheme runs into major hitch nationwide
There are indications that the Federal Government’s (FG) scheme, designed to transition Nigeria’s vehicle transportation service industry away from fossil...
Nigeria’s money supply rises 4% to N119.1trn
Supply (M2) increased by 4.2 percent month-on-month, MoM, to N119.1 trillion in April 2025 from N114.2 trillion in March 2025....
We are ending era of wasteful, opaque tax waivers, says Tinubu
President Bola Tinubu says his administration is ending the era of wasteful and opaque waivers. Tinubu spoke at the second...
CBN introduces financial instruments to deepen non-interest banking sector
The Central Bank of Nigeria, CBN, has introduced three non-interest financial instruments with the aim of deepening the non- interest...
EFCC intervenes as hackers steal billions from six Nigerian banks
The Economic and Financial Crimes Commission (EFCC) has said it is currently working on helping six Nigerian banks recover billions...
NGX ends four weeks rally as investors lose N202 billion
The Nigerian Exchange Limited (NGX) reversed four consecutive weeks of a bullish trend, as investors’ wealth declined by N202 billion...
Dangote slashes petrol price again amid import glut
The Dangote Petroleum Refinery has announced a fresh reduction in the pump prices of Premium Motor Spirit (petrol) across the...
Naira appreciates to N1,615/$ in parallel market
The naira yesterday appreciated to N1, 615 per dollar in the parallel market from N1,620 per dollar on Tuesday. Similarly,...
MPC seeks fiscal support on naira stability, retains interest rate at 27.5%
New fiscal policies to boost local production, reduce foreign currency demand pressures and lessen the pass-through effect on prices received...
Naira-for-crude deal caused reduced petrol prices – Dangote
The Dangote Petroleum Refinery has said that the naira-for-crude deal allowed it to reduce the price of petrol, which translates...
Amid Improved Loan Quality, Banks’ Average Non-Performing Loans Increase to N2.59trn
On the back of improvement in loan quality, the average Non-Performing Loans (NPLs) of eight Deposit Money Banks (DMBs), increased...
Market rallies, gains N613 billion in one week ahead of MPC meeting
The rising confidence in the economy, coupled with strong 2025 Q1 corporate and easing inflation, continued to spur strong positive...
Home » News » High interest rate affecting manufacturing sector, SMEs — Reps to CBN Business May 19, 2025 High interest rate affecting manufacturing sector, SMEs — Reps to CBN
As the Central Bank of Nigeria (CBN) prepares to hold its 300th monetary policy committee (MPC) meeting this week, the House...
Stock market: Foreign investment outflow rises to 250.86% to N420.37bn in Q1’25
Foreign investment outflow from the nation’s stock market (NGXchange) rose by 250.86 percent, Quarter-on-Quarter, QoQ, to N420.37 billion in the...
CBN policies may lower inflation to 22.1% – W’Bank
The World Bank has projected that Nigeria’s inflation rate will average 22.1 per cent in 2025, attributing the anticipated decline...
CBN raises T-bills auction offer to N550bn – Report
The Central Bank of Nigeria raised its total Treasury Bills Primary Market Auction offer to N550bn, up from N400bn in...
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