Brent, Nigerian oil blends race to $80 per barrel amid Israel, Iran conflict
Brent and Nigerian oil blends recorded a rebound to around $78 per barrel on Friday from a low of $70…
Category: Business
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Electricity price cheapest in Nigeria – Adelabu
The Minister of Power, Adebayo Adelabu has said that electricity is cheapest in Nigeria compared to other African countries. Adelabu…
CBN introduces electronic foreign exchange matching to curb speculation
The Central Bank of Nigeria, CBN, has announced the introduction of the Electronic Foreign Exchange Matching System, EFEMS, for foreign…
Investors lose N671bn at NGX amid sell-offs
Investors in the Nigerian Exchange market lost N671 billion due to sell-offs in Dangote Cement, Dangote Sugar and tier one…
Food price: Cost of healthy diet drops – NBS
The National Bureau of Statistics has said the cost of a Healthy Diet declined on a Month-on-month basis to N1,255…
Keyamo explains what Emirates return means for Nigerians
Minister of Aviation and Aerospace Development, Festus Keyamo has said the return of flight operations by Emirates Airlines to Nigeria…
Fuel scarcity looms as NNPCL portal closure delays petrol supply
Petroleum marketers have raised an alarm that the Nigerian National Petroleum Company Limited, NNPCL, portal used for the purchase of…
Nigeria’s Galaxy Backbone announces digital portal to boost citizens’ engagement
Nigeria’s Galaxy Backbone has announced a government service portal to boost citizen engagement. The Spokesperson of the agency, Chidi Okpala…
Naira depreciates massively against dollar after Independence Day
The Naira depreciated significantly against the Dollar at the foreign exchange market upon resumption of trading after Nigeria’s 64th Independence…
Diesel import into Nigeria increases by 22.66 percent
The import of Automotive Gas Oil (Diesel) into Nigeria increased by 22.66 percent to 4.94 billion liters in 2023 from…
Investors at Nigerian Stock Exchange ranked N1.15tn in September
The Nigerian Exchange Market has refused to bow to the impact of the economic hardship in the country as investors…
Nigeria at 64: FG has cleared N30tn CBN Ways Means loan – Tinubu
President Bola Ahmed Tinubu said his administration has cleared N30 trillion ways and means loan from the Central Bank of…
Nigeria at 64: Tinubu announces employment scheme to create 2.5m jobs for Nigerians
President Bola Ahmed Tinubu has announced an employment scheme, known as Renewed Hope Labour Employment and Empowerment Programme, LEEP, to…
Nigeria at 64: Tinubu announces employment scheme to create 2.5m jobs for Nigerians
President Bola Ahmed Tinubu has announced an employment scheme, known as Renewed Hope Labour Employment and Empowerment Programme, LEEP, to…
Naira drops against dollar ahead of Nigeria’s 64th Independence Day holiday
The naira depreciated slightly against the dollar at the foreign exchange market ahead of Nigeria’s 64th Independence Day holiday on…
‘We’ve discussed’ – Marketers’ update on meeting with Dangote Refinery
Petroleum marketers said they are waiting for Dangote Refinery to get a final decision from the management of the $20…
World Bank approves additional $1.57bn loan for Nigeria
The World Bank announced that it has approved an additional $1.57 billion loan to the Nigerian government to fund three…
Tackle financial needs in Africa – Cardoso tells World Bank, IMF
The Governor of the Central Bank of Nigeria, Olayemi Cardoso has told the World Bank and International Monetary Fund to…
Nigeria’s money supply increased by 65% to N107.1tn in August – CBN
Nigeria’s money supply, M2 increased by 65 percent on a year-on-year basis to N107.1 trillion in August 2024 This is…
3 million barrels of oil production per day achievable – NNPCL
The Nigerian National Petroleum Company Limited, NNPCL, on Saturday, in Abuja said the production of 3 million barrels of crude…
Hardship: Yam, tomatoes record drop in prices – NBS
The National Bureau of Statistics has revealed that the prices of Tomatoes and Yam tubers dropped in August 2024 amid…
3 million barrels per day achievable without pipeline vandalism – NNPCL
The Nigerian National Petroleum Company Limited, NNPCL, has lamented the large scale vandalism that is causing economic sabotage to the…
UAE: Keyamo finalizes deal with Emirates Airlines ahead of flight resumption to Nigeria
Festus Keyamo, the Minister of Aviation and Aerospace Development, on Friday said he has finalized negotiations ahead of the resumption…
Fuel Price: Petrol landing cost drops – Nigerian Marketers
The Major Energies Marketers Association of Nigeria, MEMAN on Thursday revealed that the landing cost of Premium Motor Spirit dropped…
Hardship: Nigerian govt disburses N24.78bn to 991,261 households
The Nigerian Government has disbursed N24.78 billion to 991,261 poor households as part of efforts to tackle economic hardship. The…
Ebonyi lawmakers hold Quarter 3 budget performance hearing
Members of the Ebonyi State House of Assembly have concluded the 2024 third-quarter budget performance hearing for priority MDAs with…
Flour Mills of Nigeria bets big on pan-African expansion with strategic restructuring
As one of Nigeria’s oldest and most significant players in the food and agro-allied sectors, Flour Mills of Nigeria PLC…
NPA, NIMASA to begin fee collection in Naira rather than Dollar- Presidency
Nigeria’s Presidency has said the Nigerian Port Authority and Nigerian Maritime Administration and Safety Agency plan to begin the collection…
Don’t fall for Coca-Cola’s $1bn investment promise – CAPPA tells Tinubu
The Corporate Accountability and Public Participation Africa, CAPPA, has told President Bola Tinubu not to be deceived by Coca-Cola’s pledge…
Cardoso: CBN will inject N1.4tn to boost Nigeria’s liquidity, cautions banks
The Governor of the Central Bank of Nigeria, Olayemi Cardoso has said that the apex bank will inject N1.4 trillion…
Interest rate hike: CBN suffocating investors, businesses in Nigeria – CPPE
The Centre for the Promotion of Private Enterprise, CPPE, has tackled the Central Bank of Nigeria’s fifth interest rate hike…
Naira slumps massively against dollar in response to CBN’s interest rate hike
The naira crashed massively against the dollar in the foreign exchange market amid the Central Bank of Nigeria’s fifth interest…
Port Harcourt refinery: Niger Delta lawyers knock NNPCL over failed promises
The Coalition of Niger Delta Lawyers on Energy Reforms and Transparency in the Oil and Gas Sector, has urged the…
Hardship worsens as Nigeria’s unemployment rate rises to 5.3% in Q1 2024
Nigeria’s unemployment rate increased to 5.3 percent in the first quarter of 2024, rising by 0.3 percent from 5.0 percent…
Nigerian Telco, Airtel moves to dump diesel for solar energy as fuel costs hit N28bn
Airtel Nigeria has revealed a plan to turn to solar energy as a cost-effective solution to power its telecom infrastructure…
Direct lifting of Dangote Petrol will crash fuel prices in Nigeria – Marketers
Petroleum marketers have said that there will be a drop in prices of Premium Motor Spirit (Petrol) once they start…
Fuel price: Oil industry mafia stronger than drug cartel – Dangote
Aliko Dangote, the President of Dangote Group has said that the oil industry mafia is far stronger than the drug…
Naira depreciates as dollar supply drops on Monday
The naira depreciated against the dollar at the foreign exchange market to resume the week amid a drop in FX…
Libya sells cheapest petrol in Africa at N52 per litre as Nigeria’s fuel goes above N950
Libya sells Premium Motor Spirit (petrol) at the cheapest price in Africa at N52 ($0.031) per liter or 0.15 Libyan…
CBN: Naira fell by 51.5% against dollar in 12 months under Cardoso
Nigeria’s currency, the Naira depreciated by 51.5 percent against the dollar at the official market in the last year under…
12.5kg cooking gas price records 69% increase in August
The average cost for refilling a 12.5-kilogram Cylinder of Liquefied Petroleum Gas (Cooking gas) increased by 69 percent in 2024…
Nigeria’s revenue from passenger rail transport rises by 53.14% to hit N1.69bn – NBS
Nigeria’s revenue from Nigerian Railway Corporation on passenger transportation grew by 53.14 percent to hit N1.69 billion in the second…
Real Reason Wabara was denied job slots – FCC
The Federal Character Commission has said that former Nigerian Senate President, Adolphus Wabara was denied job placement because the request…
UNGA 2024: Tony Elumelu sets out Africa’s priorities
African philanthropist Tony Elumelu will make Africa’s transformative economic growth, youth employment, and energy transition central to the discussions at…
Dollar supply increases by 117% as Naira appreciates at FX market
The supply of the Dollar and other currencies increased by 117 percent at the foreign exchange market as the Naira…
Nigerian GenCo gives Borno flood victims N100m as donations rise to N12.5bn
Nigerian electricity generation company Mainstream Energy, operator of the Kainji, Jebba and Zungeru hydropower plants in Nigeria, has donated the…
There’s hardship in Nigeria — Tinubu
President Bola Tinubu has admitted that there is hardship in the country. He, however, blamed it on some actions and…
Fuel price hike: Nigerians buy petrol at N1,100 per litre
Most filling stations in the Federal Capital Territory have implemented the Premium Motor Spirit (petrol) third pump price hike under…
Naira appreciates against Dollar to end week on good note
The Naira appreciated against the Dollar at the foreign exchange market to end the week on a good note. FMDQ…
We’ve not reinstated Cybersecurity levy on Nigerians – CBN
The Central Bank of Nigeria (CBN) has not reinstated the cybersecurity levy that was previously suspended. The CBN had suspended…