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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...
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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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Grid collapses, N4tr debt stall Nigeria’s transition to competitive market
Nigeria’s ambition to transition its electricity sector into a fully competitive bilateral market is faltering as systemic weaknesses, including an...
Read moreWorry for Federal Government, states as oil prices drop to $60
Crude oil prices have fallen below $60 per barrel, raising concerns about the federal and state governments’ ability to fund...
Read moreElectricity: Nigerian govt pledges to offset N4 trillion debt to GenCos
The federal government has pledged to address the N4 trillion debt owed to Power Generation Companies (GenCos) in the country....
Read moreNGX loses N116bn as market cap dips
The Nigerian Exchange Limited closed Tuesday’s trading session in the red, as investors booked profits on key tickers including MTN...
Read moreNon-oil export records 24.7% surge, hits $1.7bn
The Nigerian Export Promotion Council disclosed on Monday that Nigeria’s non-oil export sector recorded significant growth in the first quarter...
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World Bank sees poverty rising in Nigeria despite economic growth
The World Bank has predicted that Nigeria may likely see a rise in the levels of poverty over the next...
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Currency in circulation drops to N5tn – Report
The total amount of naira in circulation decreased to N5tn as of March 2025, marking a decline from N5.04tn recorded...
Read moreFederation Account allocation falls third straight month to N1.57tn
The Federation Account Allocation Committee has reported a further decline in monthly disbursements to the Federal Government, states, and local...
Read moreNigeria’s Oil Output Rises 8% in Q1, Despite Sinking to Five-month Low in March
Nigeria’s crude oil production grew by 8.13 per cent in the first quarter of 2025, despite the sharp fall in...
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Oil price slump as tariff tension pushes Nigeria’s FX market into turbulence
Nigeria’s foreign exchange (FX) market is once again facing renewed volatility as global economic uncertainties, driven by slumping oil prices and...
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Nigeria’s Microfinance Banks in a Cashless Economy: Evolving for a Digital-First Future
The implementation of the Naira redesign and cashless policy in early 2023 did not come out of the blue for...
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Passengers lament fare hikes amid fuel price cuts, CNG
Nigerians have continued to lament the sustained hike in transportation fares despite the reduction in fuel pump price and the...
Read moreCrude price crash: Petrol can drop below N400/litre — Refiners
Crude Oil Refinery Owners Association of Nigeria has said that the price of Premium Motor Spirit (petrol) can drop below...
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NNPCL increases petrol price to N950/litre
After holding back at first, the Nigerian National Petroleum Company Limited has raised the price of petrol to N925 per...
Read moreBanking Sector Strengthens as Capital Adequacy Ratio Hits 15.2%, Liquidity 49.06%
A report by the Central Bank of Nigeria (CBN), has revealed that the nation’s banking sector maintained its resilience in the fourth...
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NNPC revives long-delayed IPO, shops for advisers
The Nigerian National Petroleum Company Limited (NNPC Ltd.) is reviving plans for an Initial Public Offering (IPO), signalling a renewed...
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Naira-for-crude: Petrol price hike looms as talks drag, imports rise
The pump prices of Premium Motor Spirit (petrol) may rise further in the coming days as the landing cost of...
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Naira slides to N1,585/$ as CBN commits to FX stability
The rally the naira had enjoyed since the beginning of the year seems to have ended, perhaps in the short...
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At -7.82 YtD, OIl & Gas Index Emerges Worst Performing Indicator on NGX
Due to projected poor dividend payouts by Oil and Gas companies listed on the Nigerian Exchange Limited (NGX), the NGX...
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Dangote to Build 18m MTA Cement Plant in Itori, Largest Seaport at Olokola in Ogun State
President of Dangote Group, Alhaji Aliko Dangote, said by the time he was done with his cement plants across Ogun...
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Global trade war: Naira value depreciates amid forex outflows
THE uncertainty caused by the ongoing tariff war between the United States and some countries have triggered the exit of...
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Dangote refinery loses N32bn after petrol price cut
The Dangote oil refinery will lose up to N32.5bn from 500 million litres stock of premium motor spirit following the...
Read moreTariff increase will push available power generation to 7,000MW — Minister
Following a record peak electricity generation of 5,801.84 Megawatts achieved last week, the Minister of Power, Chief Adebayo Adelabu, has...
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