Oil Can No Longer Sustain Nigeria Economy, Kogi Agric Commissioner Warns
The Kogi State Commissioner For Agriculture, Mr David Apeh, has warned that the continuous dependence on crude oil by the…
Category: Local
Nigeria Spends Over N370b On Palm Oil Importation
Despite the restriction placed by the Federal Government on palm oil importation, the inflow of the edible product has soared…
Rewane Speaks At FMDA Webinar, Predicts 16% Inflation Rate By 2021
The Managing Director, Financial Derivatives Company Limited, Bismarck Rewane has predicted 16 per cent inflation figure by 2021. The economist…
Investors Split On Duty Cut For Imported Vehicles
The proposed policy in the 2020 Finance Bill that seeks to slash duties and levies on imported vehicles has raised…
Why Eight States Landed In Financial Distress —Report
FOR their inability to generate enough revenue to pay workers, other debts, and prioritizing recurrent over capital expenditures, eight states…
Nigeria’s, Others’ Mobile Money Transaction Value Hits $130b
The value of mobile money transaction in Nigeria and other West African countries peaked at $130billion last year with a…
CBN Reiterates Commitment To Tackling Cyber-Fraud
In a bid to tackle the increasing threats of cyber-attacks in the financial sector, the Central Bank of Nigeria (CBN)…
OPEC+ Fails To Agree On Output-Hike Delay Before Big Meeting
A panel of OPEC+ ministers couldn’t reach an agreement on whether to delay January’s oil-output increase, leaving the matter unresolved…
Nigeria’s Half-Year Export Earnings Slump 37 Percent On Declining Oil Price
The decline in earnings was worsened by the impact of COVID-19 which dampened the global demand, plummeting crude oil prices…
Oil Prices Slip In Cautious Trade Ahead Of OPEC+ Meet
Crude oil prices fell on Monday, amid investor jitters ahead of a meeting of producer group OPEC+ to decide whether…
Naira Crashes To N500/$1 At Black Market As CBN Adjusts Exchange Rates
The Naira crashed again to an over 3-year low against the dollar, closing at N500/$1 at the parallel market. Forex…
Fear Of Further Devaluation Rife As Naira’s Slide Continues
The naira hit record lows at the weekend as market forces continued to force downward shift in Central Bank of…
IMF Seeks Unified Exchange Rate For Naira
THE International Monetary Fund (IMF) has urged the Central Bank of Nigeria (CBN) to get the country a unified exchange…
Nigeria Weakens FX Rate For Exchange Bureaux To Ease Pressure On Naira
Nigeria’s central bank has weakened the naira by 1.5% to 390 per dollar for exchange bureaux, in an attempt to…
Nationwide Blackout In Nigeria As Electricity Grid Collapses
The Transmission Company of Nigeria (TCN) says the nation’s electricity grid on Sunday experienced multiple tripping, leading to the collapse…
Things Are Looking Up For Oil, But Opec Can’t Uncross Its Fingers Just Yet
Despite good vaccine news and price rises, the cartel could still meet a few bumps in the road – some…
Five Greek Sailors Held Hostage In Nigeria
In good health are five Greek sailors whose ship was attacked by pirates in Nigeria. The pirates took hostage of…
CBN Set To Screen Bank Workers For Competence
Bank workers are about to have their capabilities to work in the industry reviewed. This means that only those with…
CBN Devalues Naira, Fixes Dollar Sale At N392
The Central Bank of Nigeria (CBN) has devalued the Naira by N6 to Dollar. This brings the Naira closer to…
Buhari To Roll Out Auto-Gas Scheme For Cars In December— Official
President Muhammadu Buhari will on December 1 roll out the auto-gas scheme in Abuja as the Federal Government moves to…
Naira To Now Trade At N392/$
The Central Bank of Nigeria (CBN) has directed bureau de change operators in the country not to sell dollars higher…
Nigeria: Apapa Gridlock To Disappear Q1, 2021 — NSC
The Nigerian Shippers’ Council on Friday said that the Council has set machineries in motion to put an end to…
Border Closure: Manufacturers Losing Market Share Daily
Manufacturers Association of Nigeria says its members are losing market share daily to other African countries due to the closure…
Naira Devalued, Now N390/$1 As Black Market (Wired) Hits N503/$1
Nairametrics can confirm that the exchange rate between the naira and dollar has depreciated to N390/$1. Nairametrics can confirm that…
CBN Devalues Naira By N6 In Move To Unify Exchange Rates
The Central Bank of Nigeria (CBN) on Friday devalued the naira by N6 to dollar. The naira devaluation has brought…
Qatar Airways Touches Down For The First Time In Abuja
Qatar Airways is pleased to announce it will operate three weekly flights from Abuja, Nigeria via Lagos, becoming the sixth…
Why Prices Of Food Items Have Increased In Nigeria
Prices of food items have skyrocketed by as much as 30 per cent in many parts of Nigeria in the…
Diaspora Remittances: A Pathway For National Development
A pathway for national development depends on the recognition of how we entice, nurture and manage our second source of…
$35bn External Reserves Sufficient For Seven-Month Imports
The Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, has said Nigeria’s external reserves, which currently stand at…
Nigerian Supreme Court Upholds Oil Spill Award Against Shell
Nigeria’s Supreme Court dismissed an application by Royal Dutch Shell Plc’s local unit to review a $467-million award for damages…