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Nigeria’s inflation rate to remain high in 2024 — World Bank
The World Bank has projected a lower inflation rate compared to February 2024, which stood at 31.7 percent. In its…
Forex losses hit currency dealers as CBN slashes BDC rate to N1,117.5/$
Currency dealers expressed concern over mounting losses and decreasing demand for the dollar as the naira…
Stock market investors record N623 bn loss
Last week, stock market investors in Nigeria experienced losses amounting to N623 billion as fund managers…
Testing begins on 700 megawatts zungeru hydroelectric power plant
The Federal Government has announced the commencement of testing on the 700 megawatts Zungeru Hydroelectric Power…
Petrol: Oil marketers propose N550/litre price to Dangote
As the Nigerian National Petroleum Company, NNPC Limited, works to alleviate petrol scarcity in Lagos and its…
$200 million Landmark Beach Resort to be demolished for costal highway project
The Lagos State Government has issued a notice to demolish the $200 million Landmark Beach Resort, citing…
Equity market faces third consecutive weekly loss
The Nigerian equities market faced its third consecutive weekly loss as investors grappled with the potential…
High costs push manufacturing exports down 62% in 4yrs
The manufacturing sector's contribution to Nigeria's non-oil exports has experienced a significant decline of 62%…
Cashew farmers see low output on harsh harmattan
Cashew farmers in Nigeria anticipate a slight decrease in output for the 2024 season due to the severe harmattan…
CBN’s policy reforms propel naira to high, but challenges remain
The Central Bank of Nigeria (CBN) has successfully implemented most of its long-awaited monetary policy reforms,…
Indonesia reconsiders export regulations after business group raise concerns
Indonesia is reviewing regulations aimed at limiting imports of over 3,000 products, according to a senior trade…
United Capital Plc records 70.9 percent revenue increase
United Capital Plc, a prominent financial and investment services company in Nigeria, has experienced a remarkable…
Petrol queues returns as NNPC struggles to meet demand
Motorists in certain parts of Lagos encountered renewed queues at petrol stations on Thursday, attributed to…
Nigeria’s raw material imports surge by 25%
In 2023, imports of raw materials into Nigeria witnessed a substantial increase of 25%, totaling N3 trillion, as…
Stock market sees investor losses on bearish trading
Stock investors faced losses totaling N252 billion as the Nigerian Exchange sustained a bearish trend on Thursday,…
Ekiti varsity unveils N1bn agro-tech fund
Dr. Tunji Olowolafe, the Chancellor of Ekiti State University, has announced the establishment of a N1 billion…
FG to issue foreign currency denominated bonds in June
The Federal Government has announced intentions to launch domestic bonds denominated in foreign currency in the…
Stanbic IBTC bank upgrades mobile app
Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings, introduced an upgraded version of its mobile app…
Less than 30% of taxable citizens pay tax in Nigeria
The Christian Aid UK Nigerian Programme has disclosed that less than 30% of taxable citizens in Nigeria contribute…
ThinkBusiness Africa faults proposed sugar tax hike
ThinkBusiness Africa, an economic analysis and policy advocacy group, has raised concerns regarding the assertions…
Customs Q1 revenue surpasses N1tn
The Nigeria Customs Service (NCS) has announced a significant increase in its revenue for the first quarter of…
SME agency tightens credit facility process for small businesses
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has implemented a new selection process…
Nigeria’s business activity remains steady in March: Stanbic
According to the latest Purchasing Managers' Index (PMI) published by Stanbic IBTC, business activities in Nigeria…
Transcorp plc reports 93% profit growth in 2023
Transnational Corporation Plc (Transcorp) witnessed a substantial increase in its profit before tax, soaring by…
Power outages hit Abuja, Lagos, and Nasarawa communities
Several communities in Abuja, Lagos, and Nasarawa are currently experiencing power outages as a result of…
FX volatility forces 28 changes in Customs duty rate
The Nigeria Customs Service (NCS) is grappling with significant challenges due to instability in customs duty…
NERC announces tariff hike impacting over 1.9 million consumers
The Nigerian Electricity Regulatory Commission (NERC) has revealed that a total of 1,974,385 electricity consumers…
Dangote sugar refinery launches N50bn commercial paper offer
Dangote Sugar Refinery PLC (DSR) has introduced Series 2 and 3 Commercial Paper offers totaling up to N50 billion…
Stock market starts week with bearish trend, investors lose N24.83
The Nigerian Exchange (NGX) All-Share Index began the week's trading on a downward note, shedding 4 basis points…
CBN increases customs exchange rate by 2.1%
The Central Bank of Nigeria (CBN) has raised the exchange rate used to calculate Customs duties at the nation's…