Nigerian National Petroleum Company Seeks $3 Billion Loan from Afrexim Bank to Support Naira
The Nigerian National Petroleum Company Limited (NNPC) is in discussions with the African Export-Import Bank (Afrexim Bank) to secure a…
Day: September 28, 2023
Top Five Nigerian Exporters Earn $22 Million in April and May
According to figures from the Central Bank of Nigeria (CBN), the top five non-oil exporters in Nigeria collectively earned $22…
Access Holdings’ Net Foreign Exchange Gains Surge by 362% to N244 Billion in H1 2023
Access Holdings Plc has reported a remarkable increase in its net foreign exchange gains, which rose by 362% to N244…
New CBN Governor Olayemi Cardoso Aims to Address Naira Downturn
The foreign exchange (FX) market in Nigeria remained relatively calm on Thursday, with market participants eagerly awaiting the next policy…
Africa’s MSMEs Must Embrace Digital Transformation for Sustainable Growth
Professor Olajumoke Familoni, an expert in management and entrepreneurship, emphasized the need for African nations, particularly Nigeria, to proactively embrace…
FX Scarcity Drives Surge in Local Raw Material Sourcing in Nigeria
The Manufacturers Association of Nigeria (MAN) reports a significant increase in the utilization of local raw materials in the manufacturing…
Canadian Dollar Weakens Against US Dollar, Influenced by Robust USD Dominance
The Canadian dollar, also known as the “loonie,” has experienced a 0.5 percent decline against the US dollar, marking its…
Food Prices Surge by 31% in Ebonyi and Abia States Over 12-Month Period
According to the ‘Selected Food Price Watch’ report published monthly by the National Bureau of Statistics, food prices in Ebonyi…
IMF Urges Nigeria to Halt Tax Waivers and Prioritize Domestic Revenue amid Debt Crisis
The International Monetary Fund (IMF) has recommended that Nigeria and other Sub-Saharan African nations focus on abolishing tax exemptions and…
Nigerian National Petroleum Company Spends N34.47 Billion on Pipeline Repairs in 18 Months
The Nigerian National Petroleum Company Limited (NNPCL) has allocated nearly N34.47 billion towards the repair and management of pipelines over…
Oil Prices Surge to $95 per Barrel Amid Resurfacing Fuel Queues in Lagos
Oil prices experienced a notable increase of over $1 per barrel on Wednesday following the reappearance of fuel queues in…