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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…