Naira Falls To N705/$ At Black Market.
On Tuesday, August 30, 2022, the Naira reversed its almost miraculous comeback to trade over the N700/$1 mark once again. This is…
Category: Local
Nigerian Economy Shrinks By N63bn, 28 Sectors Struggle.
Twenty-eight sectors of the economy declined in the second quarter of 2022 as real Gross Domestic Product shrunk by N63.49bn…
Nigeria’s Electricity Sector Dips By 11.5% In Q2 2022 Following Multiple Grid Collapses.
The latest GDP report for the second quarter of 2022 released by the National Bureau of Statistics (NBS); showed that…
CBN Recorded $2.4bn Diaspora Remittances In 2022.
The Central Bank of Nigeria (CBN) says the country has recorded $2.4 billion in diaspora remittances through its ‘Naira 4…
According To The NNPC Chief, Churches And Mosques Are Housing Stolen Nigerian Petrol.
Every section of Nigerian society is complicit in the theft of millions of barrels, the head of state oil company…
Trapped Fund: Respite As CBN Releases $265m To Foreign Airlines.
In a move to check a brewing crisis in the country’s aviation sector, the Central Bank of Nigeria (CBN), released…
Flight suspension: British Airways Says Its Operations Would Continue As Scheduled.
British Airways has restated its commitment to fully serve the Nigerian market. Recall that Nairametrics had earlier reportedthat the airline was…
Nigerias GDP Increases By 3.11% In Q1 of 2022, Says NBS.
The National Bureau of Statistics says Nigeria’s Gross Domestic Product grew by 3.54%. This growth is in the second quarter…
FAAC: Nigeria FG, States, LGs Share N954bn
The Federation Account Allocation Committee, on Wednesday, said it shared N954.09n to the three tiers of government; as allocation for…
Naira Depreciates To N692.9/$1 At P2P Forex Market.
Wednesday, 24th August 2022: The exchange rate between the naira and the US dollar closed at N431/$1; at the Investors and…
Stanbic IBTC Posts N31 Billion PAT In H1 2022.
Stanbic IBTC Holdings Plc has posted a profit of N31 billion for the first half of the year 2022; a…
Nigerian Stocks: List Of Dividends Announced In 2022.
As audited accounts start to trickle in, companies will propose dividend payments to their shareholders; as recommended by their respective…
Stanbic IBTC Announces Interim Dividend Of N1.50 Per Ordinary Share Of N50k.
Stanbic IBTC Plc has announced an interim dividend of N1.50 per ordinary share of 50 kobo each; subject to deduction…
Zenith Bank Announces Interim Dividend Of N0.30k For Every 50k Share Held By Shareholders.
Zenith Bank plc has announced an interim dividend of N0.30k for every share of 50k held by shareholders of the…
So That One Dollar Does Not Sell For N1,000 By 2023.
The dollar has risen more than 100% to the naira since 2015 and seems poised to continue value addition against…
Food Prices Rose In July 2022 – NBS.
The National Bureau of Statistics says prices of selected food items increased in July. It made the declaration in its…
Nigeria FG Records N643.09bn Fiscal Deficit In One Month.
The Federal Government’s fiscal deficit rose from N491.28bn in March to N643.09bn in April, according to the Central Bank of…
5G: New Operator Won’t Launch In August.
Mafab Communications Limited is set to miss the Nigerian Communications Commission 5G rollout commencement date of August 24, 2022. This…
Why Nigeria Exports Electricity To Niger, Benin, Togo — TCN.
As Nigerians continued to worry about the continued exportation of electricity to neghbouring countries amid shortage in national supply; the…
Undisbursed Loans Raise Nigeria’s World Bank Debt To $21.15bn.
Undisbursed loans may drive Nigeria’s debt to the World Bank from $12.72bn to $21.15bn, the PUNCH has learnt. This shows…
Nigeria FG Concludes Takeover Of Four DisCos.
The Federal Government has completed the takeover of four electricity distribution companies; and constituted the board of the Nigeria Electricity…
Power Production Was Reduced By Striking Workers To 43 MW-FG.
The recent one-day strike by workers of the Transmission Company of Nigeria crashed Nigeria’s power generation from a peak of…
FG To End Petrol Subsidy In June 2023.
The House of Representatives’ Ad Hoc Committee to Investigate the Petroleum Products Subsidy Regime from 2013 to 2022; grilled the…
ENaira Records 200,000 Users, N4bn Transactions Value – Emefiele
The Central Bank of Nigeria (CBN), digital currency, eNaira has recorded 200,000 volumes; and four billion Naira value of transactions…
FG Spends N18.397bn On Petrol Subsidy Daily –Minister
The House of Representatives’ Ad Hoc Committee to Investigate the Petroleum Products Subsidy Regime from 2013 to 2022; grilled the…
Nigeria’s Inflation Rate Ballooned By 170% Under President Buhari In 7 Years.
Nigeria’s consumer price index (CPI), which is use to measure the level of inflation in the country has risen by…
Seme Customs Intercepts 119,940 Litres Of Petrol Worth N28.924m – Nigeria.
The Seme Command of the Nigeria Customs Service (NCS) has intercept 3,998 jerry cans of Premium Motor Spirit (PMS); equivalent to 119, 940…
Why We Can’t Generate 5,000mw Of Power – Nigeria FG
The Federal Government blamed its inability to reach the target of 5,000 megawatts of electricity generation as promised on shortage of…
Naira Appreciates Slightly At Black Market, Trades At N677/$1.
Wednesday, 17th August 2022: The exchange rate between the naira and the US dollar closed at N429.38/$1 at the Investors and…
Electricity Workers Suspend Strike Amid Blackout- Nigeria.
The National Union of Electricity Employees (NUEE) has suspended its nationwide strike for two weeks. The secretary-general of the union, Joe…