External reserves hit 22-month high amid naira struggles
Nigeria’s external reserves have surged to a 22-month high of $37.31 billion as of September 2024, driven by significant foreign…
Category: Business
Cooking gas price rose by 69% in August 2024
The price of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, has seen a significant increase in Nigeria over…
Nigerian economy to hit $400bn by 2026 – Rewane
Bismarck Rewane, the Managing Director of Financial Derivatives Company, forecasts Nigeria’s economy to grow by 3.5% by 2026, increasing the…
Dangote officials, refiners tackle marketers over imported PMS
Officials of the Dangote Petroleum Refinery and the Crude Oil Refiners Association of Nigeria (CORAN) have opposed the importation of…
FG eyes economy revamp with single-digit rates, tax incentives
The Nigerian government has introduced key economic reforms aimed at stimulating growth by reducing corporate taxes, offering single-digit interest rates,…
Why Coca-cola suspended its 5-year $1 billion investment pledge to Nigeria in 2021 – Presidency
The Nigerian presidency has clarified the reasons behind Coca-Cola’s initial withdrawal of its $1 billion investment pledge, made in 2021,…
What Exactly Is Cardoso Doing At The CBN
Yemi Cardoso is marking his first year as Governor of the Central Bank of Nigeria (CBN) amid tough economic conditions.…
11 plc, Total Energies, AA. Rano, others pay N766 to lift Dangote petrol
Petroleum marketers like 11plc, Total Energies, and AA Rano have started lifting petrol from Dangote Refinery through NNPC Trading Limited…
Jega Submits Recommendations For Livestock Reforms To Tinubu
Former INEC Chairman, Prof. Attahiru Jega, has presented a 152-page report to President Bola Tinubu, detailing recommendations for a 10-year…
World Bank to approve $1.5bn loan to Nigeria by September 26
The federal government is poised to secure a $1.5 billion loan from the World Bank, with approval expected on September…
Sterling Holdco boosts recapitalisation with N75b capital
Sterling Financial Holdings Company (Sterling Holdco) has successfully raised N75 billion to support the recapitalisation of its banking subsidiaries, including…
Nigerian Customs Apapa Command hits record N1.5 trillion revenue in 9 months
The Nigeria Customs Service (NCS) recorded significant growth in revenue with ₦277.5 billion in import duties and ₦15.8 billion in…
Over $500 million investment attracted through Public-Private Partnership projects – Infrastructure Commission
The Nigerian government, through the Infrastructure Concession Regulatory Commission (ICRC), has attracted over $500 million in investments through Public-Private Partnerships…
We inherited N13 billion unpaid pension, gratuity arrears in Zamfara – Governor Lawal
Governor Dauda Lawal of Zamfara State revealed that his administration inherited N13 billion in unpaid pensions and gratuities from previous…
Naira gains N116.84 on increased dollar supply
The Nigerian naira appreciated by 7.59% against the U.S. dollar on Wednesday, closing at N1,539.65 in the Nigerian Autonomous Foreign…
Regulatory clampdown fails to drown crypto excitement
Nigeria has retained its number two spot on the 2024 Global Crypto Adoption Index, trailing only India, according to Chainalysis.…
With Fed’s rate cut at hand, debate swirls over how big a move
As the U.S. Federal Reserve prepares to begin its rate-easing cycle, investors and analysts predict that future interest-rate cuts may…
EU court confirms Qualcomm’s antitrust fine, with minor reduction
Europe’s second-highest court upheld a European Commission antitrust fine against U.S. chipmaker Qualcomm for predatory pricing, though it reduced the…
Teamsters to meet on Wednesday to consider potential US presidential endorsement
The Teamsters executive board is meeting in Washington on Wednesday to decide its endorsement for the 2024 U.S. presidential election.…
Exclusive: Commerzbank poised to put CFO Orlopp in charge of talks with UniCredit
Commerzbank is set to appoint CFO Bettina Orlopp to lead discussions with UniCredit, following the Italian bank’s acquisition of a…
CBN pegs BDC forex sales at $5,000
The Central Bank of Nigeria (CBN) has introduced a new policy limiting the foreign exchange cash sales by Bureau de…
Three marketers to import 141m-litres petrol
Three major oil marketers are set to import about 141 million litres of Premium Motor Spirit (PMS) into Nigeria this…
N599bn rights issue to cut FX losses, says NB
Nigerian Breweries Plc has announced plans to reduce its foreign exchange (forex) losses and local debt burden through a N599.1…
Emirates’ bookings slow on dollar charges, visa – Travel agents
Travel agents in Nigeria report that bookings for Emirates flights have slowed down despite the airline’s scheduled resumption of services…
CBN to fine banks delaying customers’ complaints resolution
The Central Bank of Nigeria (CBN) has introduced stringent measures against commercial banks, payment service providers, and financial institutions that…
Tinubu never asked CBN Gov, Cardoso to resign – Presidency
The Presidency has clarified that President Bola Tinubu has not requested Yemi Cardoso to resign from his position as the…
Naira falls to N1,656 at I&E Window amid volatility, but hope for recovery grows as U.S Fed decision looms
The naira weakened to N1,656.49 per dollar at the official exchange window on September 17, 2024, marking a 7.12% drop…
Dangote’s 1,200km gas pipeline abandonment was a business decision, not govt policies- Petroleum Ministry
The Ministry of Petroleum Resources (Gas) has clarified that Dangote Group’s decision to abandon a proposed 1,200km subsea gas pipeline…
Inflation drops to 32% despite petrol price hike — NBS
Nigeria’s inflation rate fell to 32.15% in August 2024, marking a 1.25% drop from July’s 33.40%. However, the rate remains…
IPPIS not compromised –FG assures
The Office of the Accountant General of the Federation (OAGF) has assured Nigerians that the personal data of employees on…