Markets
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...
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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...
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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...
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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...
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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...
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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...
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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...
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The Central Bank of Nigeria (CBN), on 25 October 2022, announced that it would redesign the four higher value notes...
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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...
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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...
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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...
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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...
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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...
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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...
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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...
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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...
Read moreCBN plans Naira redesign to counter counterfeiting, kidnapping
The Governor, the Central Bank of Nigeria, Godwin Emefiele, announced on Wednesday that the bank would release re-designed naira notes...
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Breaking: CBN redesigns Naira
The Governor, Mr. Godwin Emefiele, who announced this at a press briefing in Abuja, said the exercise would affect the...
Read moreFuel scarcity grounds Lagos, Ogun, Abuja, commuters stranded
Petrol scarcity hit different parts of Nigeria on Tuesday, forcing motorists to spend hours at filling stations while battling to...
Read moreNigeria loses three million oil barrels monthly – FG
The Federal Government on Monday revealed that its latest findings showed that about 1.2 million barrels of crude oil was...
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Airfares rose by 96.87% in one year – NBS
The National Bureau of Statistics has stated that air transportation rose by 96.87 per cent in one year. In its...
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Stock investors lose N1.7tn in one week
Investors lost N1.7tn at the end of trading on the floor of the Nigerian Exchange Limited last week, following major...
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Obajana: Kogi Drags Dangote Group to Court
The Kogi State Government on Tuesday commenced legal action to reclaim ownership of former Obajana Cement Company which is now...
Read moreFG reopens Dangote Cement, parties to continue talks
The Dangote Cement Plant located in Obajana, Kogi State, has been reopened after being closed by the Kogi State Government...
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NNPC, PTI to deploy anti-theft systems on pipelines
The Nigerian National Petroleum Company Limited and the Petroleum Training Institute are to install anti-theft integrated monitoring systems on pipelines...
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