Naira appreciates significantly against dollar as FX supply rises
The naira appreciated significantly against the dollar in the foreign exchange market as FX supply surged. FMDQ data showed the…
Category: Business
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US election: Dollar surges, Bitcoin hits record high as Trump declares victory
The dollar on Wednesday set for its biggest one-day rise since March 2020 against major peers. Bitcoin also jumped to…
Tax reform bills not South vs North issue – FIRS
The Coordinating Director of Compliance and Enforcement Group of the Federal Inland Revenue Service, FIRS, Mathew Gbonjubola, has urged Nigerians…
Naira appreciates against dollar as FX supply rises
The naira appreciated against the dollar at the official foreign exchange amid a rise in FX supply. FMDQ data showed…
Nigerian Govt to disburse N1bn loan to 1,000 MSMEs in Bauchi
The Federal Government, through the Bank of Industry, BOI, is set to inject N1 billion in loans to support 1,000…
Dangote Refinery: Petrol marketers deny importing substandard fuel into Nigeria
The Independent Petroleum Marketers Association of Nigeria has denied an allegation by Dangote Group that its members import substandard Premium…
Dangote petrol price at N990/litre reason Nigerians can’t buy cheaper fuel – IPMAN
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has stated that Nigerians should be able to buy Dangote Refinery’s locally…
Unknown company near us blends, sells substandard products — Dangote Refinery alleges
Dangote Refinery has alleged that an international trading company recently acquired a depot for blending and selling substandard products in…
Petrol pricing: We sell fuel at N960 per litre – Dangote Refinery
Dangote Refinery has finally made its petrol prices public following the Independent Petroleum Marketers Association of Nigeria, IPMAN, and Petroleum…
We’re committed to ending power outage in Enugu – Mainpower MD, Mupwaya
The Managing Director, Mainpower Electricity Distribution Limited, MEDL, Ernest Mupwaya, has committed to improving power supply in Enugu State. Mupwaya…
Nigerian businesses deteriorate in October 2024 — Report
Nigerian businesses recorded significant deterioration in October 2024 as the purchasing manager index dropped to 46.9 from 49.8 recorded in…
Imported fuel not cheaper, unless you stole crude oil from Nigeria – Kalu Aja
Kalu Aja, a financial analyst and educator, has dismissed the claim by some oil marketers suggesting it is cheaper to…
Serving NYSC members can apply – FIRS gives update on recruitment exercise
The Federal Inland Revenue Service has announced that servicing National Youth Service Corps members can apply for its ongoing recruitment…
Tax Reform Bill: North can’t reap where it didn’t sow – Imirhobo backs Tinubu
A popular Nigerian lawyer, Malcolm Imirhobo, has backed President Bola Ahmed Tinubu’s Tax Reform Bill. The lawyer made his stance…
Tinubu’s govt started on wrong footing, lacks experts’ input – BudgIT founder Onigbinde
The founder of civil advocacy and pro-accountability organisation, BudgIT, Seun Onigbinde, says the administration of President Bola Tinubu started on…
Dangote: We make only N350,000 profit from N50m truckload of fuel – IPMAN
The Independent Petroleum Marketers Association of Nigeria, IPMAN, on Friday said its members make only about N350,000 profit from a…
Price of Dangote’s fuel higher than other sources, we have to pity Nigerians – IPMAN
The Independent Petroleum Marketers Association of Nigeria, IPMAN, on Friday said that the price of fuel from Dangote Refinery, as…
Forex crisis: FG gives Nigerians 9 months to deposit dollars in bank
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has revealed a new government policy that would permit…
NGX stocks drop as investors record losses
The Nigerian Stock Exchange market recorded a bearish run as investors’ stocks declined slightly on Wednesday by 0.04 percent. This…
Nigeria’s money supply rises by 62% to N108.9tn as govt spending surges
Nigeria’s money supply (M3), which indicates a rise in liquidity, government spending, has grown by 62.8 percent year-on-year (YoY) in…
FCCPC uncovers cartels inflating food prices in Nigeria
The Federal Competition and Consumer Protection Commission, FCCPC, claimed it has uncovered cartels responsible for prices of goods and food…
Naira appreciates against dollar as FX supply rises
The naira appreciated against the dollar on Tuesday at the official foreign exchange market. FMDQ data showed that the naira…
Fuel price hike: Nigeria’s daily petrol consumption stands at 50m litres – NMDPRA
The Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has said Nigeria’s daily Premium Motor Spirit (Petrol) consumption is between…
Ghana to buy Dangote Petrol to reduce $400m monthly import expenditure
Ghana has said it plans to buy petroleum products from Nigeria’s Dangote Refinery to cut down on import expenditure. Reuters…
Naira depreciates massively as FX supply drops
The naira massively depreciated against the dollar at the foreign exchange market to kick off the week on a negative…
Dyque Energy recognised as “Most Innovative Energy Brand of the Year” at 2024 Brandcom Awards
Dyque Energy, a royal clean energy solution provider in Nigeria, has been awarded the Most Innovative Energy Brand of the…
Naira: CBN signs agreement with IFC
The Central Bank of Nigeria (CBN) said it has signed an agreement with the International Finance Corporation (IFC) to boost…
Marketers slam Dangote Refinery for opposing petrol imports
Petroleum Oil marketers have faulted Dangote Refinery over its stance against the importation of Premium Motor Spirit (Petrol). The President…
IFC partners CBN to improve local currency financing in Nigeria
The International Finance Corporation, IFC, has signed an agreement with the Central Bank of Nigeria, CBN, to increase local currency…
Fuel price: Why marketers requested N100bn intervention from Nigerian Govt
Petroleum marketers have explained that they requested N100 billion intervention from the Nigerian Government to save businesses from collapse in…
Naira appreciates slightly to end week on positive note
The naira appreciated consecutively against the dollar at the official foreign exchange market to close the week on a good…
Enugu disco clears air on Mainpower takeover
The Enugu Electricity Distribution Company PLC (EEDC) has clarified that it is still in existence amid claims rounds that the…
BREAKING: No deadline on circulation of old N200, N500, N1000 notes – CBN
The Central Bank of Nigeria has announced that there is no deadline on the circulation of old N200, N500 and…
Tinubu asks livestock investors to slash Nigeria’s $1.5bn annual dairy imports
Nigeria’s seat of power, the Presidential Villa was quite busy on Thursday, as stakeholders in the livestock value chain converged…
PTD-NUPENG threatens strike over IGP team’s seizure of loaded trucks
The National Secretariat of the Petroleum Tankers Drivers Branch of Nigeria Union of Petroleum and Natural Gas Workers, PTD- NUPENG,…
NNPCL has commenced process of paying $6 billion debt – Nigerian govt
The Nigerian government, through the Finance Ministry, has announced that the Nigerian National Petroleum Company Limited (NNPCL) has commenced the…
Afrexim Bank commits $200m as FEC okays Creative Economy Development Fund
The Federal Executive Council meeting presided over by President Bola Tinubu has approved the establishment of the Creative Economy Development…
Naira drops by N52 against dollar in 48 hours as FX supply plunges
The Naira dropped by N52.24 against the dollar at the foreign exchange market in the last 48 hours as FX…
BREAKING: Fuel import court case against NNPCL, marketers overtaken by event — Dangote Refinery
Dangote Refinery has said that there is no fresh case against the Nigerian National Petroleum Company Limited and other petroleum…
BREAKING: Dangote Refinery in court seeking annulment of import licences to NNPCL, others
Dangote Refinery has approached the Abuja branch of the Federal High Court, seeking to annul the import licences granted to…
Nigerian Customs generates N4.2tn revenue in 9 months
The Nigerian Customs Service said it has generated N4.2 billion as revenue in the first nine months of 2024. The…
Naira appreciates significantly to end week on good note
The naira appreciated significantly against the dollar at the foreign exchange market to end the week on a good after…
Naira depreciates further against dollar
The naira further depreciated against the dollar in the foreign exchange market. The FMDQ data showed that the naira again…
Nigeria no longer blacklisted in global aviation as rating hits 75.5% – Keyamo
The Minister of Aviation and Aerospace Development, Festus Keyamo has said Nigeria is no longer blacklisted globally as its rating…
Nigerian Govt signs circular for cancellation of leased aircraft
The Federal Government has signed the Irrevocable Deregistration and Export Request Authorization, IDERA, Advisory Circular for the recordation and cancellation…
Naira loses N106.7 in 48 hours
The naira lost N106.7 against the dollar in the last 48 hours at the official foreign exchange market. This comes…
Nigeria spends increased revenue on cash transfers – Finance Minister Edun
Nigeria’s Minister of Finance, Wale Edun, said the country is spending its increased revenue on social investment, such as cash…
Bonga Oil Spill: Group accuses Shell, partners of $1bn insurance claim diversion
Executive Director of Oil Spill Victims Vanguard (OSPIVV), Harrison Jalla, has accused the Shell Trading and Shipping Company Limited (STATSCO)…
Aviation: Air Peace boss, Onyema seeks Nigerian Govt intervention over multiple charges
The Chief Executive Officer of Air Peace, Allen Onyema, has appealed to the federal government to facilitate the removal of…
FIRS allays fears over tax reform, denies new taxes
The Federal Inland Revenue Service, FIRS, has allayed fears over tax reforms that would lead to new taxing systems, stating…