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Nigeria’s Over-Reliance on Imports Hinders Industrialization Efforts
After 63 years of independence, Nigeria is still heavily reliant on imports, which is impeding efforts to boost!-->…
Nigeria’s Equities Market Starts Q4 Positively, Anticipating Q3 Earnings…
Nigeria's equities market has begun the fourth quarter of 2023 on a positive note, aiming to recover recent!-->…
Rising Inflation Forces Nigerians to Opt for 2G Devices as Buying Power Shrinks
Inflation in Nigeria has surged to an 18-year high of 25.80% in August, impacting consumers' purchasing power.!-->…
Chairman of Fiscal Policy Committee Urges Sale of Non-functional Nigerian…
Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, suggested selling Nigeria's!-->…
First Bank and Lafarge Africa Pledge Support for Cement Distributors Amid…
First Bank Plc and Lafarge Africa have expressed their commitment to continue supporting their cement distributor!-->…
Nigeria Aims to Boost Startup Funding to $5 Billion Annually by 2027
Nigeria has set an ambitious goal to facilitate startups in raising a total of $5 billion annually by 2027. Dr.!-->…
Impact of Central Bank’s Exchange Rate Unification Policy in Nigeria
The Central Bank of Nigeria's exchange rate unification policy has resulted in significant financial shifts. The!-->…
Nigerian Stock Exchange Records Loss of N516 Billion in One Week
Investors on the Nigerian Exchange Limited (NGX) experienced a loss of N516 billion in one week of trading, with a!-->…
Nigeria’s President Tinubu Faces Scrutiny Over Economic Reforms and…
Nigeria's President Bola Tinubu, in office for just over four months, has made significant economic reforms,!-->…
Nigeria’s Labour Unions Suspend Nationwide Strike for 30 Days Following…
Nigeria's Labour Congress (NLC) and Trade Union Congress (TUC) have agreed to suspend the planned indefinite!-->…
Nigerian Banks’ Borrowing from Central Bank Drops Sharply in May 2023
Deposit Money Banks (DMBs) in Nigeria borrowed significantly less from the Central Bank of Nigeria (CBN) in May!-->…
Decline in Nigerian Banks’ Borrowing from Central Bank Indicates Improved…
In May 2023, Deposit Money Banks (DMBs) in Nigeria borrowed significantly less from the Central Bank of Nigeria!-->…
Nigerian Banks Record ₦154 Billion in Fees for Electronic Banking Services in H1…
Customers of nine leading Nigerian commercial banks paid ₦154 billion in fees for using electronic banking!-->…
JPMorgan Extends Lead in Investment Banking Fees Amid Deal-Making Drought
JPMorgan has strengthened its position at the forefront of the investment banking fee rankings, securing 8.6% of!-->…
Closure of Lagos Markets Impacts Traders’ Revenue Amid Waste Management…
The Lagos Waste Management Authority (LAWMA) has temporarily closed the Oyingbo and Alayabiagba markets on the!-->…
Rising Crude Oil Prices Prompt Concerns Over Subsidy Costs and Manufacturing…
The Federal Government of Nigeria is expected to incur additional subsidies on premium motor spirit (PMS), also!-->…
Nigerian Investors Experience N112 Billion Loss in Bearish Trading
Investors on the Nigerian Exchange Limited (NGX) faced sustained losses as the market saw a decline of N112!-->…
Foreign Investors Decrease Control in Nigerian Stock Market Transactions in August
In August 2023, foreign investors traded 14.15 percent of the overall N262.56 billion in the Nigerian stock!-->…
Nigerian Exchange Group (NGX) Records 25% Surge in Other Income Despite Marginal…
Despite a marginal decline in revenue during the first half of 2023, the Nigerian Exchange Group (NGX) experienced!-->…
National Economic Council Confirms $3 Billion Emergency Loan for Crude Oil to…
The National Economic Council has affirmed that the $3 billion emergency loan-for-crude oil, secured by the!-->…
Nigerian National Petroleum Company Seeks $3 Billion Loan from Afrexim Bank to…
The Nigerian National Petroleum Company Limited (NNPC) is in discussions with the African Export-Import Bank!-->…
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!-->…
Access Holdings’ Net Foreign Exchange Gains Surge by 362% to N244 Billion in…
Access Holdings Plc has reported a remarkable increase in its net foreign exchange gains, which rose by 362% to!-->…
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!-->…
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!-->…
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!-->…
IMF Urges Nigeria to Halt Tax Waivers and Prioritize Domestic Revenue amid Debt…
The International Monetary Fund (IMF) has recommended that Nigeria and other Sub-Saharan African nations focus on!-->…
Nigerian National Petroleum Company Spends N34.47 Billion on Pipeline Repairs in…
The Nigerian National Petroleum Company Limited (NNPCL) has allocated nearly N34.47 billion towards the repair and!-->…
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!-->…
BUA Foods Achieves Remarkable 182.8% Growth in Cash and Cash Equivalents in H1…
BUA Foods, a fast-moving consumer goods company in Nigeria, has reported an impressive 182.8% increase in its cash!-->…