Nigerian stock market rebounds, gains N66bn
The Nigerian equity market, on Thursday, recovered from the previous session’s decline, recording a N66 billion gain. According to NAN,…
Category: Business
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Nigeria’s inflation decline in July shows monetary measures yielding results – CBN
The Central Bank of Nigeria has said the decline in headline inflation in July 2024 is an indication that its…
CBN records all-time high remittance inflows of $553m in July
The Centre Bank of Nigeria said it recorded an all-time high remittance inflows of $553 million in July 2024. The…
IPMAN reveals solution to end fuel scarcity in three days
The Independent Petroleum Marketers Association of Nigeria, IPMAN, has said the Nigerian National Petroleum Company Limited, NNPCL, should allow its…
Sell-offs in Dangote Cement, Nigerian banks push NGX to N750bn loss Monday
The Nigerian Stock Exchange started the week on a bearish trend as investors lost N750 billion from their port portfolios.…
Fuel Scarcity: NNPCL begs Nigerians for understanding
The Nigerian National Petroleum Company Limited has appealed to Nigerians for understanding over the ongoing fuel scarcity. The spokesperson of…
Nigerian Govt moves to introduce new tax law
The Executive Chairman of the Federal Inland Revenue Service, FIRS, Zacch Adedeji, says there are plans to introduce a law…
Petrol price hits N950 per liter in Nigeria
The Nigeria Bureau of Statistics said the highest price of Premium Motor Spirit (Petrol) stood at N950 per liter in…
Nigeria’s petrol price records increase in July – NBS
The average retail price of Premium Motor Spirit (petrol) increased by 2.72 percent to N770.54 per liter in July 2024…
Nigeria’s price of diesel decreases in July – NBS
The average retail price of Automotive Gas Oil (Diesel) sold in Nigeria decreased by 5.71 percent in July, 2024 compared…
NNPCL denies $6.8bn indebtedness, speaks on remittances to Nigerian govt
The Nigerian National Petroleum Company Limited has denied owing international oil traders $6.8 billion. This is as the firm clarified…
Inflation: Fix import duty exchange rate at N1000 per dollar – CPPE to Nigerian govt
The Centre for the Promotion of Private Enterprise has reiterated the call for the Nigerian government to peg the custom…
Nigerian government rakes in N582bn from FX difference
The Nigerian government raked in N581.710 billion in revenue from foreign exchange differences in July 2024. This is according to…
Be wary of money-for-job fraudsters – NNPC warns
The Nigerian National Petroleum Company Ltd., NNPCL, has cautioned members of the public, especially job seekers, to be wary of…
TCN commences reconstruction of destroyed Tower 16 in Kano
The Transmission Company of Nigeria, TCN, said its staff has commenced the dismantling and re-erection of its collapsed Tower 16…
Breakdown of FAAC’s N1.358tn July allocation to FG, states, LGs
The Federation Account Allocation Committee said it disbursed N1.358.075 trillion to the three tiers of Government in Nigeria as July…
Nigerian govt warns against illegal sale of fuel as scarcity lingers
The Federal Government, through the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, has warned Premium Motor Spirit (Petrol) retailers…
Naira fell against dollar to end week on negative note
The naira fell against the dollar on Friday at the official foreign exchange market to end the week on a…
![NPA announces new appointments [FULL LIST]](https://nigerdeltanews.ng/wp-content/uploads/2024/08/Nigerian-Ports-Authority.jpg "NPA announces new appointments [FULL LIST]")
NPA announces new appointments [FULL LIST]
A leading revenue-generating agency, the Nigerian Ports Authority, NPA has announced seven new Port Managers. According to NAN, the new…
Transfer N2.5 mining support fund to SMDF – Nigerian Minister tells Bank of Industry
The Minister of Solid Minerals Development, Dele Alake has approved the transfer of N2.5 billion mining sector support fund from…
Nigerian govt to issue $500m dollar-dominated bond Monday
The Federal Government of Nigeria plans to issue a $500 million dollar-denominated domestic bond next week Monday to attract both…
Naira appreciates massively amid first decline in Nigeria’s inflation since 2022
The Naira appreciated massively against the dollar at the foreign exchange market in a swift response to the first decline…
Hardship: NBS reveals 3 most affordable states to live in Nigeria
The National Bureau of Statistics, NBS, said Benue, Delta, and Borno states are the least expensive states to live in…
Prices of Garri, Fufu, and others drop as Nigeria’s food inflation fall
The reduction in the prices of Garri, Akpu(fufu), milk, and other items pushed Nigeria’s food inflation to fall by 39.53…
BREAKING: Nigeria’s inflation drops for first time since 2022
Nigeria’s inflation fell to 33.40 percent in July 2024 from 34.19 percent in June on a year-on-year basis. This is…
Depot owners deny opposing local refineries
The Depot and Petroleum Products Marketers Association of Nigeria, DAPPMAN, has strongly denied accusations that it is hindering the operations…
‘It’s false’ – GTB debunks hackers seizing website, customers’ data
Nigeria’s leading commercial bank, Guarantee Trust Bank, has described as entirely false report of its website being seized by hackers.…
Maiduguri inland port to begin operations in 6 months – Gov Zulum
Borno State Governor Babagana Umara Zulum said the Maiduguri dry inland port will begin operations in six months. Zulum made…
Naira’s depreciation against dollar continues as FX turnover drops on Thursday
The naira continued to depreciate against the dollar at the foreign exchange market at the close of Thursday’s trading. This…
BREAKING: Customs releases guidelines for 150-day import waiver on staple foods
The Nigeria Customs Service has announced guidelines for the implementation of a 150-day tariff waiver on selected staple foods. This…
Inflation: Economic activities in Nigeria decline for 13th consecutive month
The volume of economic activities in Nigeria declined for the thirteenth month in July as inflation weakened purchasing power. This…
US inflation rises to 2.9% in July
The United States all-items inflation increased to 2.9 percent in July 2024 on a year-on-year basis. This is according to…
Shell blames oil thieves for leak in Imiringi community, Bayelsa
The Shell Petroleum Development Company of Nigeria, SPDC has said that the reported oil spill from its facility in the…
Crude sales in Naira to Dangote Refinery, others will crash petrol price – Marketers
Nigeria’s oil marketers have said the sale of crude oil to Dangote Refinery and other local refineries in Naira would…
Dollar supply drops by 18.26% to $201m as Naira depreciates
Dollar supply at the official foreign exchange market dropped by 18.26 percent to $201 million as the Naira depreciated on…
‘IPMAN can’t speak for us’ – Dangote Refinery disowns N600/litre claims
Dangote Refinery has denied fixing the company’s petrol price. In a statement signed by Anthony Chiejina, Group Chief Branding and…
Naira slumps against dollar first time in two weeks
The naira slumped on Tuesday against the dollar at the official foreign exchange market for the first time in two…
Dangote creates problems with those who should help his refinery – Marketers
Nigeria’s oil marketers have said that the President of Dangote Group, Aliko Dangote has created problems with actors in the…
Pressures easing as Nigeria’s budget deficit drops by 29% to N2.83tn
Nigeria’s fiscal pressures seem to be easing as the country’s budget deficit dropped by 29 percent to N2.83 trillion in…
CBN re-introduces publication of key economic reports
The Central Bank of Nigeria, CBN, has reintroduced the publication of several key economic reports. The apex bank in a…
US, Nigeria to release July’s inflation Wednesday, Thursday
The United States and Nigeria will be releasing their inflation figure for July 2024 on Wednesday and Thursday, this week.…
Azman Air grounds operation, tells staff to proceed on leave without pay
Nigerian airline, Azman Air has suspended operation as it told entire staff members to embark on compulsory leave without pay.…
FCCPC to probe market leaders over exploitive food prices in Nigeria
The Federal Competition and Consumer Protection Commission has vowed to probe market leaders across the country over exploitative food prices.…
Dangote Refinery: Don’t suffocate manufacturers, investors – CPPE advises regulatory agencies
The Centre for the Promotion of Private Enterprise, CPPE, has lamented the growing incidents of regulatory irritations and distractions inflicted…
Heritage Bank: Payments other than insured deposits subject to asset liquidation
The Nigeria Deposit Insurance Corporation, NDIC, has notified customers of the defunct Heritage Bank that all payments other than that…
Tinubu told to probe FG, 36 states over $1.5bn World Bank, $3bn Chinese loans
The Socio-Economic Rights and Accountability Project, SERAP, has called on President Bola Tinubu to “direct the Attorney General of the…
Nigerian govt will soon disburse N150bn palliatives to Manufacturers, MSMEs – Minister
The Nigerian government says it would soon commence disbursement of the N150 billion presidential palliative program to manufacturers and micro,…
Dutch Auction: CBN sells $815.36m to 26 banks at N1495 per dollar
The Central Bank of Nigeria sold $815.36 million to end users through 26 banks in its inaugural Retail Dutch Auction…
We are yet to receive 29m barrels crude allocation – Dangote Refinery counters NUPRC
The crisis rocking Nigeria’s oil and gas sector is far from over as Dangote Refinery said it is yet to…
PH refinery: Again, Nigerians knock FG over endless take-off announcement
On Thursday, August 8, the Independent Petroleum Marketers Association of Nigeria, IPMAN, announced to Nigerians that the Port Harcourt Refinery…