Petrol landing cost drops to N981/litre
The landing cost of Premium Motor Spirit (PMS), also known as petrol, has dropped to N981 per litre, as of…
Category: Local
Oil companies owe govt over $6bn – NEITI
In Nigeria, oil companies owe a lot of money to the government—about $6.175 billion! This money is for things like…
Nigeria’s exports to six countries hit N8.88tn in Q2 – Report
In the second quarter of 2024, Nigeria sold a lot of goods to six major countries: Spain, the USA, France,…
Equity market halts gaining streak with N267bn loss
On Thursday, the Nigerian Exchange faced a setback, losing N267 billion and ending its three-day rally. This drop was mainly…
Retirees park N798bn in pension for life
Many people who have retired in Nigeria are saving their money in something called “life annuity.” This means they give…
Breaking: FG increases NYSC monthly allowance to N77,000 effective July 2024
The Nigerian government has decided to give more money to young people who are part of the National Youth Service…
Nigeria to widen tax net over revenue shortfall
The Nigerian government wants to get more people and businesses to pay taxes. This will help the country get more…
PENGASSAN to Fed Govt: increase stake in Dangote Refinery to 45%
PENGASSAN, a group for oil and gas workers in Nigeria, wants the government to own more of the Dangote Refinery.…
Fed Govt okays N158b for Lekki Port service lanes
The Nigerian government has approved a big project costing N158 billion. This project will build new service lanes, or extra…
CBN boosts FX market with $20,000 to BDCs
The Central Bank of Nigeria (CBN) has decided to help people and businesses get U.S. dollars more easily. They will…
ExxonMobil mulls $10b investment in Nigeria’s deep-water
Nigeria’s economy is getting stronger because two big companies are planning to invest a lot of money in the country.…
CBN sells dollars to BDCs at N1,590/$
The Central Bank of Nigeria (CBN) has decided to help people and businesses get more foreign money by allowing bureau…
Tinubu vows to restore federal authority amid economic challenges
President Bola Tinubu’s government is working hard to strengthen Nigeria’s economy and improve security. To help with this, his administration…
Oyetola promises zero piracy incidence in Nigerian waterways
The Nigerian government is working hard to make sure its maritime agencies follow global standards, especially when it comes to…
FG explains minimum wage July 29 backpay
The Federal Government has announced that payments for the new minimum wage will begin on July 29, 2024, following President…
CBN, banks sell $9.9bn as naira weakens to N1,670/$
In August 2024, foreign exchange turnover through Nigeria’s Autonomous Foreign Exchange Market surged to N15.74 trillion ($9.90 billion), a 33.88%…
Domestic air fare rises 25% to N123, 700 in one month
In August 2024, the average fare for air travel in Nigeria surged to N123,700.14, a sharp 25.51% increase from N98,560.28…
Nigeria’s unemployment rate rose to 5.3% in Q1 – Report
Nigeria’s unemployment rate increased slightly to 5.3% in Q1 2024 from 5.0% in Q3 2023, with females facing higher unemployment…
Aviation stakeholders back Emirates on dollar airfares
Aviation experts have expressed support for Emirates Airlines’ decision to charge Nigerian passengers in dollars, citing the airline’s dollar-denominated expenses…
FG raises N2.75bn via savings bond
The Federal Government’s savings bond for September 2027 has attracted successful subscriptions worth N2.75 billion, with a coupon rate of…
Legal implications of CBN’s 5% borrowing Cap: Agbakoba and Ozekhome weigh in
Legal experts have examined the implications of the Central Bank of Nigeria’s (CBN) reaffirmation to maintain its Ways and Means…
PZ Cussons cuts pre-tax losses by 86%, boosts revenue for period ending August 31
PZ Cussons Nigeria Plc reported a pre-tax loss of N5.2 billion in its interim financial statements for Q2 2024 (ending…
Ethiopian Plans 10 weekly Flights To Rome, Celebrates Six Decades of Services
Ethiopian Airlines has announced plans to expand its weekly flights to Rome, Italy, increasing the frequency to 10 flights per…
Car-Free-Day: Lagos, group, restate commitment to NMT infrastructure devt
The Lagos State Government has announced its plans to integrate Non-Motorised Transport (NMT) infrastructure into its road planning and design…
Dangote: NNPC Made Huge Mistake By Reducing Stake in Our Refinery from 20% to 7.2%
Aliko Dangote, Africa’s wealthiest man and President of Dangote Group, has criticized the Nigerian National Petroleum Company (NNPC) for reducing…
FG Offers N150bn in Bonds for September Auction with Competitive Rates
The Debt Management Office (DMO) has announced that the Federal Government of Nigeria is offering N150 billion worth of bonds…
APM Terminals Apapa sees 25% non-oil exports
APM Terminals Apapa announced a 25% increase in non-oil export throughput for the first half of 2024, handling 51,000 TEUs…
NSIA Insurance grows premium to N22.3bn
NSIA Insurance has reported a 24% growth in Gross Written Premium (GWP), rising to N22.3 billion in 2023 from N18…
Multilateral banks’ climate financing hit $125bn – AfDB
Multilateral development banks, including the African Development Bank (AfDB), have reached a record $125 billion in climate financing for 2023,…
Equity market starts week with N79bn gain
The Nigerian equity market started the week on a positive note, gaining N79 billion on Monday due to the appreciation…