The Central Bank of Nigeria (CBN) has instructed banks to primarily distribute cash through Automated Teller Machines (ATMs). In a circular to banks on Friday, Solaja Olayemi, the acting director of the... Read more »
Nigeria’s inflation rate climbed for the second straight month in October, hitting 33.88%—an increase from 32.70% recorded in September 2024. This is according to the National Bureau of Statistics (NBS) Consumer Price... Read more »
The latest data from the Debt Management Office (DMO) shows that external debt for the states and the Federal Capital Territory climbed from $4.61 billion to $4.89 billion, reflecting a 6.14% increase... Read more »
The Nigerian National Petroleum Company Limited (NNPCL) says it has reached the mark of 1.8 million barrels per day of crude oil production. The state-owned oil company which made the announcement on... Read more »
The South African Pay-TV operator, Multichoice Group, said it has written off the N31.6 billion ($21 million) cash it had with the recently liquidated Heritage Bank. The Group disclosed this in its... Read more »
The Nigerian National Petroleum Company (NNPC) Limited has signed a 10-year gas supply agreement with Dangote Refinery, marking a significant boost for local production and industrial growth in Nigeria. The deal, signed... Read more »
The chairman of the Ogun State Manufacturers Association of Nigeria (MAN), George Onafowokan, has lamented the crisis in Nigeria’s manufacturing sector following the government’s decision to float the Naira in 2023. According... Read more »
Multichoice Group, the South African Pay-TV operator, has revealed that its Nigerian unit, Multichoice Nigeria lost 243,000 subscribers across its DStv and GOtv services in the six months spanning April to September... Read more »
The Independent Petroleum Marketers Association of Nigeria has secured an agreement with Dangote Petroleum Refinery to lift products directly. This, according to the association, will ensure the availability of petroleum to Nigerians... Read more »
The revenue of the Federation Account earnings (FAAC) rose to N6.28 trillion in the second quarter of 2024, driven by significant collections from Value Added Tax (VAT), customs, and excise duties. These... Read more »