Nigeria
Federation 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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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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Net forex inflow rises 44% to $41.89 bn
The net foreign exchange i nflows through the economy rose by 44.8 percent year-on-year (YoY) to $41.89 billion in the...
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Inflation drop: Experts demand lower interest rate
Financial and economic analysts expect the Monetary Policy Committee of the Central Bank of Nigeria to reduce the benchmark interest...
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After Rebasing, NBS Puts Headline Inflation at 24.48% in January from 34.80% in December
•Food index drops to 26.08% from 39.84% •Core inflation is now 22.59% from 29.28% •The new CPI reflects current inflationary...
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ATM withdrawal fee: CBN bets on breaking PoS monopoly, improving banks’ cash operations
To relieve banks of the burden of operating automated teller machines (ATMs) and handling cash, the Central Bank of Nigeria...
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NGX extends bullish run as investors gain N883 billion
The Nigerian Exchange Limited (NGX) sustained its positive momentum at the start of February, with the NGX all-share index gaining...
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Naira appreciates 0.78% against dollar
The naira further appreciated at the official market on Wednesday, trading at N1,510.72 to a dollar. Data from the FMDQ...
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Yuletide rally lifts capitalisation by N770 billion in one week
The upcoming yuletide period spurred transactions across sectors of the equities market last week, pushing market capitalisation up by N770...
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Nigeria Earns N73tn from Oil Export in 21 Months Amid Surging Govt Borrowing
Nigeria’s total crude oil export revenues hit N73 trillion in the 21 months spanning January 2023 to September 2024, today’s...
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OPS urges sustenance as naira gains N137/$
The naira appreciated by N137.69 against the United States dollar within a week, following the introduction of the Central Bank...
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Capitalisation dips by N19 billion, amid losses in 29 stocks
The Nigerian equities market, yesterday, reversed previous gains, as market capitalisation shed N19 billion, amid price depreciation in Aradel Holdings...
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Fuel imports hit 2.3bn litres despite local production
Despite the commencement of petrol production by two major refineries in Nigeria in the last three months, oil marketers have...
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Banks raise withdrawal limit to N50,000
Deposit Money Banks in the Federal Capital Territory have increased their maximum over-the-counter withdrawal limit to N50,000 per day, findings...
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CBN bans FX negotiation outside foreign exchange market
The Central Bank of Nigeria (CBN) has banned the negotiation of exchange rates with customers outside of the foreign exchange...
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