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Former Minister Accuses Diesel Suppliers and Generator Dealers of Sabotaging Power…
Barth Nnaji, a former minister of power in Nigeria, has alleged that diesel suppliers and generator dealers are…
Naira Strengthens at Official Market, But Hits All-Time Low of N1,100/$ in…
The naira experienced a 6.77 percent gain against the dollar at the official market, despite decreased liquidity.…
Nigeria’s Inflation Trends and Factors Driving Them
Nigeria's inflation rate has continued to rise, reaching 26.72% in September, with food inflation hitting a record…
Nigeria’s Emergence as a Hub for Pharmaceutical Manufacturing
Nigeria is poised to become a hub for Active Pharmaceutical Ingredients (API) manufacturing by early 2024, thanks…
Nigerian Farmers Express Frustration over Lack of Progress Following Food Security…
Despite President Bola Tinubu's declaration of a state of emergency on food security in July, farmers in Nigeria…
High Ship Berthing Costs in Nigeria Contribute to Soaring Petrol Prices
The cost of berthing a petrol-laden ship in Nigeria is substantially higher compared to its West African…
Food Inflation Crisis Worsens in Nigeria, Straining Households
Nigeria's food inflation has been on an upward trajectory since August 2019, accelerating further after the…
Naira Devaluation Spurs Export Demand, Eases Foreign Exchange Pressure on…
Nigeria's recent naira devaluation, while negatively impacting production capacity in the manufacturing sector,…
Nigerian Electricity Demand Projected to Reach 45,662 Megawatts by 2030, Exceeding…
The Nigerian Electricity Regulatory Commission (NERC) has stated that electricity demand in Nigeria is expected to…
Nigerian Ministers to Undergo Quarterly Performance Assessments Starting 2024
The Federal Government of Nigeria has announced plans to commence quarterly assessments of the performance of its…
Nigeria Boasts Over 100 Operational Mini-Electricity Grids, a Major Market in…
Nigeria is currently one of the largest mini-grid markets in Africa with over 100 operational mini-electricity…
Lagos Blue Rail Resumes Passenger Operations with Increased Trips
The Lagos Metropolitan Area Transport Authority (LAMATA) has announced the resumption of passenger operations on…
Naira Stabilization: IMF Encourages Nigeria to Consider Loan Options
The International Monetary Fund (IMF) has addressed the pressure on the Nigerian naira and indicated that Nigeria…
Soaring Power Costs Hit Nigerian Businesses, Posing Threat to Productivity
Rising power costs are posing a significant challenge to businesses in Nigeria, impacting their operations and…
Persistent Power Outages Plague Nigeria Despite Billions in Investments
Despite significant investments in Nigeria's power sector and its privatization in 2013, the country continues to…
Nigerian Banks Experience 50% Surge in Lending Despite Rising Interest Rates
Eleven banks in Nigeria collectively witnessed a 50% increase in lending during the first half of 2023, despite…
Nigeria Sets Ambitious Goal of 2 Million Barrels per Day in Oil Production by End…
The Nigerian government aims to achieve a daily oil production rate of 2 million barrels by December 2023. This…
Customer Complaints Surge by 117% in Nigerian Banks Amidst Challenges
The number of complaints lodged by customers in five Nigerian banks has surged by 117% to reach 6,865,217…
FBN Holdings Seeks Approval for ₦139 Billion Capital Raise Through Rights Issue
FBN Holdings Plc, a Nigerian financial services group, has applied for approval from the Nigerian Exchange…
Central Bank of Nigeria Removes Forex Restrictions on 43 Items
The Central Bank of Nigeria (CBN) has lifted foreign exchange restrictions on 43 items, allowing importers to…
EKEDC Assures Refund to Meter Scheme Participants
The Eko Electricity Distribution Company (EKEDC) has announced that customers who paid for meters under the Meter…
Central Bank of Nigeria Lifts Restrictions on 43 Prohibited Items, Aims to…
The Central Bank of Nigeria (CBN) has granted approval for the importation of 43 items previously prohibited from…
Export Expansion Grant Backlogs and Bureaucracy Hamper Nigeria’s Revenue…
The Export Expansion Grant (EEG), Nigeria's primary incentive scheme for exporters, has faced challenges including…
Nigeria Achieves Highest Crude Oil Output in 2023 at 1.35 Million Barrels/Day
Nigeria's crude oil production reached an all-time high of 1.35 million barrels per day in September 2023, marking…
Insurers Prepare for Transition to IFRS17 Reporting
As the December 31, 2023 deadline approaches, insurers are gearing up for the transition from the IFRS4 model to…
Citigroup Advises CBN to Remove Forex Restrictions on 43 Items
Citigroup has recommended that the Central Bank of Nigeria (CBN) should lift restrictions on foreign exchange…
Deployment of N50bn Modular Floating Dock to Prevent N300bn Capital Flight and…
Stakeholders in the maritime industry are advocating for the deployment of a N50 billion modular floating dock,…
Former CBN Deputy Governor Advises Against Free Floating Naira
Dr. Tunde Lemo, a former Deputy Governor of the Central Bank of Nigeria, has cautioned against allowing the naira…
Portfolio Investment in Nigeria Plummets by Over 80% in Q2 2023
According to the latest report from the National Bureau of Statistics, portfolio investment inflow into Nigeria…
Nigerian Domestic Airlines Advocate for Jet Fuel Importation License and Forex…
The Airline Operators of Nigeria (AON), representing domestic airlines, have urged the Federal Government to grant…