FG Begins 10,000MT Wheat Cultivation To Cut Imports
The Federal Government has announced the commencement of dry season wheat cultivation to produce 10,000 metric tonnes of the commodity and…
Category: Market
Agric Fund Diversion May Attract Five-Year Jail Term – CBN
The Central Bank of Nigeria has said borrowers who divert the funds provided under the Agricultural Credit Guarantee Scheme may…
Net Forex Inflow Rose To $2.77bn July, Says CBN
The net foreign exchange inflow into the Nigerian economy rose slightly to $2.77bn in July from $2.27bn in June, the…
CBN Orders Farmers To Insure ACGSF Loans
The Central Bank of Nigeria has said farmers must have an insurance cover for loans to be disbursed to them…
Investors Lose N18bn As 49 Stocks Drag Market Lower
Investors in the equities market of the Nigerian Exchange Limited saw an N18.05bn weekly loss at the end of trading…
China Evergrande EV Unit To Raise $347 Mln From Share Sale To Fund Production
China Evergrande’s electric vehicle division is raising about HK$2.7 billion ($347 million) from a share sale to fund production of…
External Reserves Resume Decline, Lose $410m In 17 Days
After rising by a record $5.05bn last month, Nigeria’s external reserves dropped by $410m in the past 17 weeks, the…
Remove Fuel, Electricity Subsidies Early 2022, IMF Tells FG
The International Monetary Fund said on Friday that the Nigerian government should remove fuel and electricity subsidies completely early next…
Investors Lose N33bn, Banking, Industrial Stocks Decline
Stock investors in the Nigerian Exchange Limited recorded a loss of N33.36bn at the end of trading on Thursday as…
Experts Blame High Unemployment, Inflation as GDP falls to 4.03%
Nigeria’s recovery from the fallout of the COVID-19 pandemic slowed sharply in the third quarter of this year, with economists…
Obasanjo Advocates Made-in-Africa Brand
A former President of Nigeria, Chief Olusegun Obasanjo, has called for a special ‘Made-in-Africa’ brand to promote intra-African trade and…
Nigeria’s GDP Growth Fell To 4.03% In Q3 -NBS
The nation’s economy grew more slowly in the third quarter of the year than it did in the second quarter,…
Turkish Lira Hits All-Time Low Before Country’s Central Bank Meeting
The Turkish lira on Thursday continued its slide ahead of the country’s central bank meeting. The currency fell to a…
Ford Partners With GlobalFoundries To Increase Chip Supplies
Ford Motor plans to increase its short- and long-term supply of semiconductor chips through a new partnership with GlobalFoundries. The…
Bitcoin Needs To Drop 80% Before Marathon Loses Money On Mining
Bitcoin has a long way to drop before mining the digital token becomes unprofitable for North America’s largest crypto mining…
Alibaba Misses Expectations As Earnings Plunge 38% In The September Quarter
Alibaba on Thursday missed revenue and earnings expectations for the September quarter, as slowing economic growth in China and the country’s…
Emirates Could Return To Nigeria Under New Testing Agreement
The end of a travel ban between The United Arab Emirates (UAE) and Nigeria could happen if both countries are…
China’s WeRide To Launch Robotaxis On GAC’s Ontime Ride-Hailing App
WeRide, a China-based autonomous driving startup, said on Thursday it plans to make its robotaxis available for booking by the…
Nigeria To Exploit $10.5bn Potential In Shipping Industry
With its long coastline, unique location, large oil and gas deposit, large and growing population, among others, the Nigerian shipping industry…
Fuel Scarcity Looms Across Nigeria As Abuja Groans
Scarcity of Premium Motor Spirit (PMS) worsened in Abuja, yesterday, amid signs the trend could spread across the country. Motorists…
U.S. FTC Says Court Should Allow Antitrust Lawsuit Against Facebook To Proceed
The U.S. Federal Trade Commission said on Wednesday that a federal court should allow an antitrust lawsuit it filed against…
CBN Signs Up 488,000 ENaira Wallets, 78,000 Merchants Globally
Transactions cross N60m as experts express reservation over economic impacts Apex Bank explains its intervention programme to editors The Central…
Oil Exploration: NNPC Gets $1.04 Billion Facility From Afreximbank
The African Export-Import Bank, Afreximbank, has signed a $1.04 billion dollar facility with the Nigerian National Petroleum Corporation, NNPC, to…
Ardova Issues N25.3bn Bonds, Completes Enyo’s Acquisition
Ardova Plc has issued N25.3 billion fixed-rate bonds to fund its expansion project in the downstream petroleum sector of the…
Nigeria’s Remittance Inflow Rebounds, Hits $17.6bn, Says W’Bank
Nigeria’s remittance inflow is set to hit $17.6bn and push inflows to Sub-Saharan Africa to $45bn in 2021, a new…
Inflation May Push 91 Million Nigerians Below Poverty Line – W’Bank
The World Bank says the general increase in food prices which occurred between June 2020 and June 2021 may have…
ENaira Will Reduce Tax Evasion, Says CITN
The President, Chartered Institute of Taxation of Nigeria, Mr Adesina Adedayo, has said the introduction of eNaira into the Nigerian…
25 Million Nigerians Will Be Taken Out Of Poverty’ – Osinbajo
The Vice President, Professor Yemi Osinbajo, has said that the Nigerian Diaspora Investment Summit (NDIS) is one of the surest…
Nestle Loses N7.93 Billion In Market Value As Share Price Drops By N10
At the end of today’s trading session, Nestle Plc share price depreciated by 0.71% to close at N1390.00 per share,…