Nigeria’s economy grew 3.46% in the fourth quarter (NGGDPQ=ECI), opens new tab, a similar pace as it did a year earlier, data showed on Thursday, as oil output picked up and government... Read more »
The federal government on Thursday, February 23, announced that it has stopped the exportation of Liquefied Petroleum Gas (LPG) also known as cooking gas, to reduce the scarcity and soaring price in... Read more »
Black market racketeers are currently taking advantage of the few day’s strike actions by tanker drivers, as the price of Premium Motor Spirit popularly known as petrol skyrocketed, hitting ₦1000 per litre... Read more »
The naira Tuesday slid further at the parallel market in spite of the clampdown the federal government ordered on foreign exchange market speculators. Bureau De Change (BDC) hubs were raided in Abuja,... Read more »
Dangote Cement Plc has vehemently denied accusations of attempting to export cement to the Republic of Cameroon via Adamawa State, Nigeria. The company clarified that two of its trucks, each laden with... Read more »
Food prices have begun to decrease at major grain markets in Kano, Taraba, and Niger states.In recent weeks, there have been protests in Lagos, Kano, and Niger states, as well as in... Read more »
The Federal Government on Monday vowed to address the concerns of oil transporters and distributors to ensure smooth operation despite the high cost, especially in the maintenance of trucks used in the... Read more »
The Naira experienced a sharp depreciation against the US dollar on February 19, 2024, reaching an intra-day high of N1,712. The domestic currency depreciated by 3.78% to close at N1,598.54 to a dollar at the... Read more »
The Airline Operators of Nigeria (AON) have raised concerns about the industry’s existential threat, attributing it to difficulties in accessing foreign exchange for maintenance and other dollar-based activities. Handling companies, airports, and... Read more »
In a bid to accumulate tax returns, Bola Ahmed Tinubu has issued a directive mandating all self-funded agencies, including the Nigeria Civil Aviation Authority (NCAA), to remit 50% of their revenue to... Read more »
President Bola Tinubu has announced Nigeria’s preparedness to host the African Central Bank in alignment with the vision outlined in the Abuja Treaty. Speaking at the 37th Ordinary Session of the Assembly of Heads... Read more »
Nigerian Breweries Plc has recorded a net loss of N106 billion for the year ended 2023, as against N13.93 billion posted in its 2022 financials, indicating 860 per cent loss. Company Secretary,... Read more »
The Central Bank of Nigeria (CBN) says it has stopped the payment of personal and business travel allowances (PTA/BTA) by banks in the country. This is part of the apex bank measure... Read more »
The Independent Petroleum Marketers Association of Nigeria has said that its members cannot afford to purchase 45,000 litres of petrol due to the removal of fuel subsidy by President Bola Tinubu. A... Read more »
The Naira experienced a significant depreciation, reaching its lowest point in recent times, with an exchange rate of N1,043.09 to the dollar in the official foreign exchange market on Thursday. This is... Read more »
The Nigerian National Petroleum Company Limited and fuel marketers under the aegis of the Independent Petroleum Marketers Association of Nigeria, on Tuesday, clashed again over the removal of subsidy on petrol. ... Read more »
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1215 and sell at N1220 on Tuesday 2nd January 2024, according to sources... Read more »
The increasingly high cost of production, transportation and other factors have caused the price of one kilogramme of local rice to jump by 73.2 per cent in one year. This happened despite... Read more »
There is a growing concern among workers as the Central Bank of Nigeria, CBN, commenced the decongestion of its head office in Abuja, affecting 1,533 staff. A circular dated January 12, 2024,... Read more »
Shell Plc has reached an agreement to sell its Nigerian onshore oil assets to a local consortium for over $1.3 billion, pending government approval. Shell’s Integrated Gas and Upstream Director, Zoe Yujnovich,... Read more »