Category: Local
Nigeria Borrows $1.71 Billion: Impact on Exchange Rates
In the first nine months of 2023, Nigeria secured $1.71 billion in foreign loans to enhance the country’s foreign exchange…
NAFDAC Reduces Licencing Fees to N44, 200
The National Agency for Food and Drug Administration and Control (NAFDAC) has announced a significant reduction in processing fees for…
SON Intensifies Fight Against Substandard Goods: A Commitment to Quality
The Standards Organisation of Nigeria (SON) is ramping up efforts in the battle against fake and substandard goods across the…
Pledge to Boost Agriculture and Trade for Economic Growth- Ekiti State’s Gov.
In a New Year statewide broadcast, Ekiti State Governor, Mr. Biodun Oyebanji, affirmed his administration’s commitment to partnering with the…
Niger State Governor Seals TGI’s Partnership Over Food Security
In a significant move to bolster food security and stimulate economic growth, Governor Mohammed Umaru Bago of Niger State has…
Assessing Nigeria’s Economic Performance in 2023: A Year of Challenges and Reforms
The Nigerian economy faced a challenging year in 2023, marked by a notable decline compared to the previous year. The…
Bitcoin Surges Above $45,000 in New Year Rally
Bitcoin made a strong start to the New Year by surpassing $45,000 on Tuesday, marking its highest point since April…
BYD Produced 3 Million New Energy Vehicles in 2023, Challenging Tesla’s Dominance
Chinese electric car giant BYD announced on Monday that it produced over 3 million new energy vehicles in 2023, setting…
Tensions in Red Sea Elevate Oil Prices in Iran
Oil prices surged on Tuesday as Iran deployed a warship to the Red Sea amidst ongoing tensions in this crucial…
Global Regulatory Landscape for Cryptocurrencies in 2023
In 2023, regulators worldwide, including those in Europe and Asia, intensified their efforts to establish formal laws governing digital currencies.…
“Tough Time Never Last”- Tinubu Addresses Nigeria’s Socio-economic Issues
During the New Year address delivered by the president, Bola Ahmed Tinubu, he identified six socio-economic challenges in Nigeria, reassuring…
Dangote Refinery Recieves Fourth Supply of Crude Oil
To enhance the commencement of Dangote Petroleum Refinery and petrochemicals, NNPC supplied one million barrels of crude to the refinery.…
President Tinubu Signs N28.78 Trillion Budget: Charting Priorities for 2024
On January 1, 2024, President Bola Tinubu signed the N28.78 trillion budget for the year, marking a pivotal moment in…
Nigerian Stock Market Projections for 2024: A Gradual Yet Promising Rally
The Nigerian stock market, which experienced a remarkable 45.90% return in 2023, is poised for continued growth in 2024, albeit…
Nigeria’s Finance Minister, Wale Edun, Outlines Strategy to Reduce Reliance on Borrowing for 2024 Budget Implementation
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has unveiled the government’s approach to finance the…
Naira Remains Near Lows on P2P Market as Dollar Inflows Remain Weak
The Nigerian Naira is struggling to gain strength against the US Dollar, particularly on the Peer-to-Peer (P2P) market, which is…
Nigeria to Launch Passport Application Automation, Review Immigration Policy
The Minister of Interior, Olubunmi Tunji-Ojo, has announced the commencement of the passport application automation process in Nigeria, scheduled to…
IFC Invests $50 Million in EMIF II Fund to Address Infrastructure Gaps in Asia and Africa
The International Finance Corporation (IFC), a member of the World Bank Group, has committed a $50 million equity investment in…
2023, A Challenging Year for Businesses- Expert
During an interview with Daily Trust, Adewale-Smatt Oyerinde, the Director General of the Nigeria Employers’ Consultative Association (NECA), highlighted the…
NIMASA Urges Shipowners to Unite for Accessing $360 Million Fund
The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Jamoh, has called on indigenous shipowners…
Cement Prices to Drop at N3500 in 2024- BUA Chairman
BUA Chairman Abdul-Samad Rabiu recently reaffirmed his commitment to selling a bag of cement at N3500 in 2024, as promised…
Impact of Naira Devaluation: Winners and Losers Among Nigerian Companies
The liberalization of Nigeria’s foreign exchange regime in 2023, resulting in a significant devaluation of the Naira, has created a…
Naira Hits Low Against Dollar: Implications for the Nigerian Economy
The Naira reached a historic low of N1,043.09 per dollar on Wednesday due to robust demand for the greenback amidst…
Demand Amid UK’s Cost of Living
Dame Clare Moriarty, CEO of Citizens Advice, emphasized the worsening situation in UK as many individuals demand assistance in accessing…
Rail Fares to Rise by 4.9% in England
Rail fares in England are set to rise by 4.9% in March, following the government’s decision to tackle the planned…
Nigeria’s Struggle to Diversify Economy Despite Pledges
Despite governmental assurances to diversify Nigeria’s economy away from overreliance on oil exports, recent data reveals the nation remains heavily…
Dashed Hopes in Aviation for 2023- Mr Fortune Idu
The Chief Executive Officer of FCI International, Mr. Fortune Idu, characterizes the year 2023 in aviation as one of dashed…
Naira to Dollar Exchange Rate will Improve in 2024- FG
Ben Akabueze, the director-general of Nigeria’s budget office, recently expressed optimism about the Naira gaining strength in the foreign exchange…
Intra-City Bus Fares in Nigeria Decline for Second Consecutive Month Despite Rising Fuel Costs
Despite the increasing pump prices of petrol and diesel in Nigeria, intra-city bus fares dropped for the second consecutive month…