Economy
BoI Grows Total Assets 67% To N3.3trn In H1
The total assets of the Bank of Industry (BOI) has hit N3.3 trillion as at June 30 2023, which represents...
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Presidential panel plans 83% cut in taxes, levies
The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr Taiwo Oyedele, has said Nigeria has over...
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Nigeria’s Power Sector Records 11.4m Customers in Q2
The total customer numbers in Nigeria’s electricity supply industry rose to 11.47 million in the first quarter of 2023, from...
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Husk Launches Initiative to Mobilise $500m for Mini-grids in Africa
Husk Power has officially launched the ‘Africa Sunshot initiative,’ committing to mobilise $500 million over five years to rapidly scale...
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PENGASSAN reacts as Dangote refinery misses production deadline
The 650,000 barrels per day Dangote Refinery is yet to begin production after the August commencement date, earlier announced by...
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Operators excited as UAE lifts visa ban on Nigerians
The United Arab Emirates, on Monday, lifted its months-long visa ban on Nigerians. Consequently, Etihad and Emirates Airlines will resume...
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Stock Market Down N464bn on Profit-taking in GTCO, Zenith Bank, Others
Investors’ profit-taking activities in Guaranty Trust Holding Company (GTCO), Zenith Bank Plc, Dangote Sugar Refinery, and 40 others depreciated the...
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Unity Bank grows deposits to N333bn in H1
Unity Bank Plc has said its deposits grew marginally by two per cent to N333.38bn in the first half of...
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BREAKING: CBN directs banks to stop spending FX revaluation gains
The Central Bank of Nigeria issued a directive instructing commercial banks on Monday to refrain from utilizing their foreign exchange...
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Zenith Bank Delivers Phenomenal Triple-digit Growth in First Half 2023
Zenith Bank Plc has announced its audited results for the half-year (H1) ended 30 June 2023, recording an astounding triple-digit...
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FG delists 37 illegal loan apps
The number of delisted loan apps rose from nine to 37, according to the Federal Competition and Consumer Protection Commission’s...
Read moreCBN directs banks to stop spending FX revaluation gains
The Central Bank of Nigeria issued a directive instructing commercial banks on Monday to refrain from utilizing their foreign exchange...
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Banks, Discount Houses’ Deposit with CBN Down 16% to N738.03bn MoM
Banks and discount houses deposit with Central Bank of Nigeria (CBN), depreciated by nearly 16 per cent Month-on-Month (MoM) to...
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Nigeria’s Oil Production Growth May Lead To Output Cut By OPEC
The output from other countries that had witnessed downward production is squaring up which may likely lead to output cut...
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Nigeria’s Crude Oil Production Fell To 1.29mbpd In July
The most recent data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reveals that Nigeria’s daily production of crude oil...
Read moreNigeria Among Top 3 Countries With Highest Oil Discovery In 2023
Nigeria has been named among the three top countries in terms of highest oil reserves discovered owing to 2023 investments....
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Naira tumbles to 900/$, CBN vows BDC operators clampdown
The naira tumbled against the United States dollar at the parallel market on Wednesday, closing at 900/dollar. This came barely...
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Currency in Circulation Declined by N7.51bn to N2.6tn in July
Money and credit data released by the Central Bank of Nigeria (CBN) for the month of July 2023 has revealed that currency...
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Nigeria’s inflation to hit 28% by year end, J.P. Morgan projects
J.P. Morgan says Nigeria’s headline inflation will continue to trend upwards as policy reforms “feed through” and that it could...
Read moreAmidst Weak Business Activity, Credit to Private Sector Up 30.3% to N54.16trn
Despite the slow business activities in the country, Private sector credit surged to N54.16 trillion, marking a notable increase of...
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Nigeria lost N249bn in July as oil output drops
Nigeria lost about N249bn crude oil revenue in July following a plunge in the country’s oil output by over four...
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Naira gains about 15% as dealers dump dollar, count losses
Naira inched close to a 15 per cent gain against dollar in the parallel market within a week, trading around...
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Fuel marketers kick as FG rules out price hike
Oil marketers, on Tuesday, advised President Bola Tinubu to gradually relax the removal of subsidy on Premium Motor Spirit, popularly...
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Naira slump: CBN clamps down on speculators, restricts diaspora remittances
Following the tumbling of the naira at the parallel market in recent times, the Central Bank of Nigeria has started...
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Fresh fuel price hike looms as landing cost rises by 37.4%
There are strong indications that pump price of petrol is expected to record another round of increases, the third within...
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