Nigeria’s Oil Production Falls Below the Target Set by OPEC.
According to data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Nigeria’s oil production has fallen below the target set…
Year: 2023
Nestle increases its sourcing of Nigerian raw materials as the cash crunch hits
Nestle, a major food company, is increasing its sourcing of local raw materials such as starch and turmeric in Nigeria…
Nigeria’s Oil Output is Under Danger Due to Disruptions-EIA
The Energy Information Administration (EIA), a US agency, has stated that disruptions in Nigeria’s oil production have led to the…
According to FG, Discos Failed to Remit N208bn in 2022.
According to the Federal Government of Nigeria, power distribution companies (Discos) failed to remit a total of N208.8 billion to…
CBN and Bill Gates Collaborate on Financial Inclusion
The Central Bank of Nigeria (CBN) and the Bill and Melinda Gates Foundation (BMGF) have finalized their plans to enhance…
Debt Servicing Surged by 55.71% to N1.24tn.
Nigeria’s debt servicing costs have surged by 55.71% to N1.24tn within a three-month period, as revealed by data from the…
European stock markets experience losses to start the new week.
The new week brought losses to European stock markets, mirroring the decline in Tokyo, as investors monitored inflation updates and…
Travelers Lament as the Devaluation of the Naira Raises Airfares.
The decision by the Central Bank of Nigeria to devalue the naira has caused a significant increase in airfares, negatively…
FG, the States, and LGAs Split May’s Income of N786 billion.
The Federation Account Allocation Committee (FAAC) announced that it distributed a total of N786.16 billion among the three tiers of…
DMO is Alarmed by Low Revenue as Nigeria’s Debt Approaches N81 trillion.
According to findings, Nigeria’s total public debt is projected to reach N81.64tn this year, based on the 2022 Debt Sustainability…
Paris Summit: Tinubu Promotes the Removal of Subsidies and the Adoption of an FX Policy.
President Bola Tinubu of Nigeria expressed the country’s readiness to engage in business and attract foreign investments. He emphasized ongoing…
50 New Power Generation and Metering Licenses are Issued by NERC.
The Nigerian Federal Government granted 50 new power generation and metering permits in the last quarter of last year, according…
BoG Anticipates that Inflation would Stay Over 10% Until 2025.
Barring any unexpected shocks, the Bank of Ghana (BoG) expects inflation to be on the decline through the end of…
PPI Falls to 30.3% in May 2023, According to GSS.
According to recent information from the Ghana Statistical Service (GSS), the Producer Price Inflation (PPI) for the month of May…
The Budget Controller Reports Sh5.7 billion in Salaries Paid Outside of Payroll.
In the first nine months up to March, the Controller of Budget (COB) reported Sh5.66 billion in salary payments made…
TransCentury Shares Decline 10% Amid Conflict.
The Nairobi Securities Exchange (NSE) saw a 10% decline in TransCentury Plc’s stock in its first transaction following the disclosure…
According to NBS, Discos made N480 billion in Six Months.
According to the National Bureau of Statistics’ latest Electricity Report for the first quarter of 2023, despite a 1.74 percent…
NMDPRA Permits Six Enterprises to Import Petrol.
Six companies have been granted licenses by the industry regulator, the Nigeria Mainstream and Downstream Petroleum Regulatory Authority (NMDPRA), to…
Convergence of Currency Rates through FX Reforms.
Within one week of their implementation, the current FX reforms at the Central Bank of Nigeria (CBN) led to a…
78 Initiatives are Prioritized by the FG to Change the Food System.
The Federal Government has identified 78 priority measures that, when completed, will overhaul the entire food system, from farm to…
Dollar Trades at A Discount Against Naira in Black Market.
The naira is trading higher on the black market for the first time since 2015, exactly one week after the…
FG and Others Share N2.84 trillion in FAAC.
In the first four months of this year (January to April), the Federal Government (FG), 36 States, and 774 Local…
Food Export Rejection: Nigeria Sets Up Quality Center, Attempts To Reverse N539 Billion Losses
In December 2022, Prof. Benedict Oramah, the chairman of the African Export-Import Bank (Afrixembank), revealed that Nigeria lost an estimated…
Leading Imports Include Wheat, Sugar, and Petroleum Goods.
Despite the limited access to petroleum products that Nigerians had in the first quarter of 2023 (Q1’23), With a total…
FGN Bonds’ Value Decreased by 93.2% to N183 billion.
In comparison to the same period in 2022, the value of listed Federal Government of Nigeria bonds on the Nigerian…
States start the process of establishing utility commissioners under the Electricity Act of 2023.
There are significant signs that the state governments, which are considered to be federating units under the constitution, may have…
Removal of Subsidies: NEITI Investigates Gasoline Usage Data.
Despite the criticism to the action, the Federal Government shouldn’t reverse its decision to end subsidies on Premium Motor Spirit,…
Nigeria’s Exports Increase to N42 trillion as a Result of the Naira’s Depreciation.
After the Central Bank of Nigeria floated the naira, the value of Nigeria’s exports might increase to at least N41.99…
UK to Lower Import Taxes on Nigerian Goods.
The UK has stated that it is prepared to lower tariffs on goods coming from Nigeria and other emerging nations.…
Operators Attribute Airfare Increase to Currency Fluctuations and a Shortage of Aviation Fuel.
The recent increase in airfares was caused by a paucity of foreign currency and aviation fuel, according to the Airline…