WHO IS AFRAID OF FIDELITY BANK -By Udeme Etukeyen
Leading up to the recent superlative annual reports showcasing one of the most significant growth experienced by a Nigeria Financial…
Category: Business
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CBN’s interest rate hike will worsen imbalances in real sectors — CPPE
The Centre for the Promotion of Private Enterprise, CPPE, said the continued hawkish stance of the Central Bank of Nigeria,…
Naira appreciates against dollar amid CBN interest rate hike
The naira appreciated against the dollar at the foreign exchange market amid the Central Bank of Nigeria’s interest rate hike.…
BREAKING: CBN raises Nigeria’s interest rate
The Central Bank of Nigeria’s Monetary Policy Committee has raised the country’s interest rate by 25 basis points to 27.50…
BREAKING: Port Harcourt Refinery commences production
Nigeria’s owned Port Harcourt Refinery has commenced processing crude oil production. The spokesperson of the Nigerian National Petroleum Company Limited,…
Dangote petrol: Nigeria’s fuel price may crash to N900/litre by Yuletide – Marketers
Nigeria’s petroleum marketers said that the Premium Motor Spirit (Petrol) price may be reduced to between N900 and 1000 per…
GDP growth: Reforms now yielding fruits – Tinubu
President Bola Tinubu has expressed happiness at the economy’s third-quarter growth statistics as revealed by the National Bureau of Statistics,…
Naira crashes against dollar on FX markets
The naira crashed against the dollar at both official and parallel foreign exchange markets to begin the week on a…
Nigerian govt excited over GDP growth of 3.46% despite inflationary trends
A marginal growth in Nigeria’s Gross Domestic Product, GDP, which grew by 3.46%, compared to the 3.19% recorded in the…
Nigeria’s unemployment rate drops to 4.3% as hardship lingers
Nigeria’s unemployment rate dropped to 4.3 percent in the second quarter of 2024, signalling improved labour market conditions under President…
Subsidy removal, Naira floating brought Nigeria to its knees —Ologbondiyan
Former Spokesperson for the Peoples Democratic Party, PDP, Kola Ologbondiyan, has said that the removal of fuel subsidy and floating…
CBN holds MPC meeting to decide Nigeria’s interest rate
The Central Bank of Nigeria Monetary Policy Committee holds its meeting on Monday 25 and Tuesday 26, 2024, DAILY POST…
Nigerian govt won’t approve Int’l flights without patronage of local caterers — Keyamo
The Minister of Aviation and Aerospace Development, Festus Keyamo, has insisted that from January 2025, the Nigerian government will not…
Hardship: Muslim group sets up market for cheaper prices in Lagos
Some Muslim scholars under the umbrella of the League of Islamic Leaders in Mushin, Lagos, have established a market called…
Naira appreciates against dollar
The naira appreciated against the dollar at the foreign exchange market at the close of business on Thursday. FMDQ data…
North-Central Assembly Speakers task Nigerian Govt on economic development in region
Speakers of the North Central States; Benue, Kogi, Nassarawa, Niger, and Plateau, who gathered in Lokoja, the Kogi State Capital…
Dangote refinery resumes crude oil import from US – Report
Dangote Refinery has resumed the purchase of crude oil from the United States to ramp up refining capacity and production.…
Non compliance: CAC publishes names of companies stricken-off register
Corporate Affairs Commission, CAC, says it has stricken-off the names of the companies that have failed or refused to update…
Import licence: NNPCL asks court to strike out Dangote Refinery’s suit
The Nigeria National Petroleum Corporation Limited, NNPCL, has asked a Federal High Court sitting in Abuja to strike out a…
Oil thieves barons in Lagos, Abuja want me dead – Tompolo
The owner of Tantita Security Services Nigeria Limited, Government Ekpemupolo, popularly known as Tompolo, has claimed that top oil thieves…
Nigeria’s Dangote Refinery allegedly begins petrol exports to West Africa – Report
Nigeria’s Dangote Refinery, owned by Africa’s richest man, Aliko Dangote, has begun the export of refined petroleum products to neighbouring…
Naira appreciates against dollar
The naira appreciated against the dollar at the official foreign exchange market for the first time since last week. FMDQ…
CBN uncovers fake SWIFT messages fraud, warns Nigerians
The Central Bank of Nigeria, CBN, has uncovered a fresh fake SWIFT message scheme and warned Nigerians and the general…
Energy group laments high importation of fuel amid NNPCL decision to patronise local refineries
The Energy Reforms Advocates of Nigeria (ERAN) has raised concerns over the increasing importation of petroleum products in Nigeria, despite…
Road now clear for private investors to invest in Nigeria – Minister of Finance, Edun
The Minister of Finance and Coordinating Minister of the Economy, Dr. Wale Edun, has declared that the road is now…
Dangote targets billions in loans to boost crude supply – Report
Africa’s richest man, Aliko Dangote, is seeking billions in loans to boost crude supply for his newly built refinery in…
Petrol price drop: Dangote, IPMAN sign 60m litres weekly fuel deal
Dangote Refinery and the Independent Petroleum Marketers Association of Nigeria have signed a 60 million-litre weekly Premium Motor Spirit supply…
World Bank uncovers $32m missing funds in Nigeria’s water project
The World Bank has uncovered $32 million in unaccounted funds in Nigeria’s water project. This was disclosed in the banks’…
Trouble looms as Nigeria’s external debt may hit $45.1bn by end of 2024
There are indications of a looming debt crisis as Nigeria’s external debt may rise to $45.1 billion by the end…
NMDPRA seals oil, gas retail outlets in Delta over sharp practices
The Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, has sealed petroleum retail outlets and gas plants over sharp practices…
Retire, go home – Inibehe Effiong slams Adeboye over ‘God saved Naira’ comment
A human rights lawyer, Inibehe Effiong, has told Pastor Enoch Adeboye of the Redeemed Christian Church of God, RCCG, to…
Rewane raises concern over Nigeria’s 2025 N47.9tn budget proposal
An economist, Bismark Rewane, has faulted the $75 per barrel crude oil price benchmark for Nigeria’s N47.9 trillion 2025 budget…
Maiduguri airport set to commence first international flight operations
The General Muhammadu Buhari International Airport, Maiduguri, is set to commence full international operations by January 1, 2025, DAILY POST…
EKEDC denies extorting customers over ongoing STS 2-meter upgrade
The management of Eko Electricity Distribution Company (EKEDC) has denied extorting customers over the ongoing STS 2-meter upgrade. It insisted…
Why FEC approved fresh $2.2bn borrowing plan for Nigeria – Finance Minister, Edun
The Minister of Finance, Wale Edun, has explained that the Federal Executive Council approved a fresh $2.2 billion borrowing plan…
Naira resumes depreciation against dollar
The naira returned to depreciation against the dollar at the foreign exchange market barely 24 hours after respite. FMDQ data…
Crude oil production: We’ve reached 1.8m barrels per day – NNPCL
The Nigerian National Petroleum Company Limited, NNPCL, has said it has reached the mark of 1.8 million barrels per day…
Nigeria Customs secured N28.1bn worth of seizures in 2024 — Adeniyi
The Comptroller General of Nigeria Customs Service, Bashir Adeniyi, said the service made N28.1 billion worth of seizures as of…
BREAKING: Fuel crisis: NNPC announces fresh appointments
The Nigerian National Petroleum Company Limited has announced key leadership appointments, DAILY POST learnt. The company on Wednesday named Adedapo…
Naira appreciates against dollar first time in a week
The naira appreciated against the dollar at the foreign exchange market for the first time since last week. FMDQ data…
Electricity: Enugu DisCo vows to end estimated billing
Mainpower Electricity Distribution Limited (MEDL), a subsidiary of Enugu Electricity Distribution Company, has vowed to eliminate estimated billing with the…
Nigerian Govt to commence payment of pension backlog – Finance Minister Edun
The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has assured that the Federal Government will…
Inflation in October expected — CBN
The majority of Nigerians believed that the country’s inflation would rise further in October 2024. This is according to the…
Nigeria’s foreign reserves rise to $40.167bn
Nigeria’s foreign reserves increased to $40.167 billion as of November 11, 2024, for the first time since 2022. This is…
Nigerian Govt mulls single-digit taxes for citizens
The Federal Government is considering a single-digit tax regime to reduce the burden of multiple taxations on Nigerians. The Chairman…
Naira begins week with depreciation
The naira continued to depreciate against the dollar in the foreign exchange market on Monday. FMDQ data showed that the…
IPMAN dumps fuel import for Dangote Petrol
The Independent Petroleum Marketers Association of Nigeria, IPMAN, directed all its members to lift Premium Motor Spirit, PMS, exclusively from…
BREAKING: Dangote, IPMAN finally reach agreement to lift PMS, others directly
The Independent Petroleum Marketers Association of Nigeria, IPMAN, has finally secured an agreement with Dangote Refinery to lift products directly.…
NDIC begins sale of Heritage Bank assets
The Nigeria Deposit Insurance Corporation, NDIC, has commenced a national auction of landed properties and physical assets belonging to the…
Export processing terminal to link with domestic export warehouse – NPA
The Export Processing Terminal (EPTs) is to be linked with the Domestic Export Warehouse (DEW), the Nigerian Ports Authority (NPA),…