The International Monetary Fund, IMF, has said that import restrictions and foreign currency scarcity make it difficult for businesses to thrive in Nigeria and other Sub-Saharan...
The Nigerian government has said that successfully adopting Compressed Natural Gas can reduce inflation, which soared to 33.69 per cent in April 2024. The Programme Director...
Aliko Dangote, the Chairman of the Dangote Group, has said that all things being equal, Nigeria will not need to import Premium Motor Spirit, known as...
The Biafra Republic Government In-Exile, BRGIE, has said that the Biafra struggle is a selfless movement. Speaking in apparent response to those who feel he has...
President Bola Tinubu has told Chinese executives that Nigeria is a safe investment hub. Ajuri Ngelale, Special Adviser to the President on Media and Publicity, disclosed...
The Federation Account Allocation Committee, FAAC, shared N1.149.816 trillion in revenue with the federal, state, and local governments in April 2024. The Director of Press and...
The Federal government has been told to release the details of the N100 billion 2024 zonal intervention project budget. Head of Tracka, Ayomide Ladipo, made this...
The Nigerian government has said the country’s N20 trillion pension fund is safe and secure. The Minister of Finance, Wale Edun, disclosed this in a statement...
The Nigerian government has finally announced that the application portal for the much-awaited student loan will open on Friday, May 24. The spokesman of the Nigerian...
The Naira has returned to depreciation against the dollar in the foreign exchange market. FMDQ data showed the Naira dropped to N1533.99 per dollar on Thursday...
The Slovakia government says the surgery on its Prime Minister Robert Fico, who was shot at close range in an assassination attempt, was successful. Fico’s Deputy,...
Kogi, Kwara, and Ondo are the three states in Nigeria with the highest food prices amid worsening hardship. This is according to the latest National Bureau...
The Nigerian government lost billions of Naira annually for not applying airport tolls to Very Important Persons and VIPs. The Minister of Aviation and Aerospace Space...
Bureau De Change operators have blamed the continued depreciation of the naira in the foreign exchange market on the Central Bank of Nigeria’s insufficient allocation of...
The fire on Tuesday in Shell’s Gbaran facility in Bayelsa may raise the price of Liquefied Natural Gas in Nigeria. This comes against the backdrop of...
Naira devaluation and Central Bank of Nigeria’s interest rate hikes tripled the earnings of some of Nigeria’s biggest banks in the first quarter of 2024 despite...
The Nigerian government raised N380.76 billion in bond auctions, with the lowest subscriptions this year. This is according to May’s bond auction, conducted on Monday. The...
Naira’s woes continue for the second week as legitimate operators of Bureau De Change, BDC, await the Central Bank of Nigeria’s intervention. FMDQ data showed that...
The Nigerian Federal Government said it is launching a Special Purpose Vehicle, SPV, to deliver an additional 90,000 kilometres of fibre optic cable to complement existing...
The Chairman and Founder of Tinubu Media Support Group, Jesustega Onakpesa, has assured Nigerians that President Bola Ahmed Tinubu’s administration will bring down Nigeria’s soaring inflation....
The Nigerian government will release its April inflation figure on Wednesday, May 15. This development comes as the National Bureau of Statistics usually unveils its monthly...
The Nigerian government has announced that it has commenced bidding for 12 oil blocks listed for sale. The Chief Executive of the Nigerian Upstream Petroleum Regulatory...
Foreign remittances from abroad to Nigeria declined by 6.28 per cent in the first quarter of 2024. According to the latest data from the Central Bank...
The controversy surrounding last month’s electricity tariff hike is yet to fade as the Nigerian workers, on Monday, disrupted activities in the power sector, demanding its...
The naira continued its depreciation against the US dollar in the foreign exchange market. Data from the parallel market section and FMDQ showed further depreciation against...
Governor of the Central Bank of Nigeria, CBN, Olayemi Cardoso has said that the members of the Monetary Policy Committee, MPC, would do whatever is necessary...
The Nigerian Customs Service, NCS has signed a Memorandum of Understanding (MoU) with the General Administration of Customs of the People’s Republic of China (GACC) to...
Dana Air has laid off several of its workers weeks after suspension by the Nigerian government. In a statement on Saturday, the Head of Corporate Communications...
The average price of refilling a 12.5-kilogram Cylinder of Liquefied Petroleum Gas, Cooking gas, has surged by 55.22 per cent to N15,929.04 in March from N10,262.56...
Billionaire businessman and founder of Starlink, Elon Musk, says the telecommunications firm is under pressure due to the geomagnetic solar storm ravaging the Earth. Musk disclosed...
The Naira’s woes against the US dollar continued as the currency lost a significant N160 in seven days at the foreign exchange market. Mistila Dayyabu, a...
The United Kingdom’s economy has overcome recession earlier than expected in the first quarter of 2023. The economy grew by 0.6 per cent between January and...
President Bola Tinubu has conferred Nigeria’s second highest national honour, Grand Commander of the Order of the Niger, on the Awujale and paramount ruler of Ijebuland,...
Nigerians are choking as the price of rice, garri, yam, beans, and other food items surged by over 100 per cent annually. The National Bureau of...
The Nigerian government has spent around $1.12 billion on foreign debt service payments in the first quarter of 2024. Data from the Central Bank of Nigeria,...
The Nigerian federal government says it plans to commence a fresh audit of the N2.8 trillion fuel subsidy claim by the Nigerian National Petroleum Company Limited....
The naira further depreciated against the US dollar despite the Economic and Financial Crimes Commission’s clampdown on foreign currency speculators in the FX market. FMDQ data...
The Central Bank of Nigeria, CBN has eased its restrictions on repatriating oil and gas export foreign exchange proceeds by International Oil Companies, IOCs operating in...
The Centre for the Promotion of Private Enterprise, CPPE, says the Nigerian federal government will rake in between N3 trillion and N7.75 trillion in one year...
Nigerian government received $1.36 billion and $1.09 billion in corporate taxes and royalties from Shell Nigeria through its operations of the Shell Petroleum Development Company of...
Biafra Republic Government in Exile, BRGIE, has condemned the alleged attack on Igga community in Uzo-Uwani local Government Area of Enugu State by security operatives. Reports...
The Central Bank of Nigeria has ordered banks to stop charges on cash deposits. The apex bank disclosed this in a May 6, 2024, circular signed...
The Centre for the Promotion of Private Enterprise, CPPE, has asked the Nigerian government to suspend its 0.5 per cent cybersecurity levy on all electronic transactions...
The naira depreciated by N63.36 per dollar at the foreign exchange market in the last 24 hours. FMDQ data showed that the day closed at N1416.57...
Bayo Onanuga, the spokesperson to President Bola Ahmed Tinubu, has clarified that the recently introduced cybersecurity levy to all banks and financial services is 0.005 per...
The Central Bank of Nigeria, CBN, has asked all banks in Nigeria to collect and remit a 0.5 per cent cyber security levy to the office...
The naira appreciated significantly against the US dollar at the foreign exchange as trade resumed on Monday. FMDQ data showed that the Naira appreciated N1353.21 per...
The Ibadan Electricity Distribution Company, IBEDC, has begun the implementation of a downward review of tariff from N225/Kwh to N206.80/Kwh for band A customers. This review...
The Nigerian Stock Exchange Limited recorded its first weekly gain after losing N3.54 trillion in April 2024. This is according to last week’s data from NGX....
The value of Nigeria’s Currency in Circulation, CIC, increased to N3.87 trillion at the end of the first quarter of 2024 as money outside the banking...
The Nigerian government plans to impose stricter rules on cryptocurrency platforms to defeat the Naira against the dollar in the foreign exchange market. The development comes...
Petroleum marketers have said the Nigerian National Petroleum Company Limited, NNPCL, has opened its reserves across the federation to end the lingering fuel scarcity. The National...
The Naira ended the week by appreciating marginally against the dollar in the official and parallel foreign exchange markets. FMDQ data at the close of Friday...
The Naira has resumed depreciation against the Dollar in the foreign exchange market. FMDQ data showed that the Naira depreciated to N1402.67 per Dollar on Thursday...
The Nigerian federal government has shifted the application deadline for companies interested in managing the $10 billion Diaspora Fund. Minister of the Federal Ministry of Industry,...
Paul Alaje, Chief Economist and Partner at SPM said that the federal government’s minimum wage review should be at least N100,000. Alaje disclosed this during an...
Peter Obi, the Presidential candidate of Labour Party in the 2023 election, has blamed bad road infrastructure and insecurity under President Bola Ahmed Tinubu’s administration for...
The Centre for the Promotion of Private Enterprise, CPPE, has asked the Nigerian federal government to fix customs duty exchange at N1000 per dollar amid fluctuations...
The Naira lost N112.38 against the US dollar at the foreign exchange market in April 2024. FMDQ data showed that the Naira traded at N1,390.96 per...
President Bola Ahmed Tinubu has told Nigerian workers that an upward review of minimum living wage is imminent. Ajuri Ngelale, Special Adviser to the President on...
The President of the Trade Union Congress, Festus Osifo, has explained that the Nigerian federal Government is currently applying quasi-subsidy on fuel. Osifo, who doubles as...
Deputy governor of Financial System Stability of the Central Bank of Nigeria (CBN), Philip Ikeazor, has said that the rise in non-performing loans in the Nigerian...
The naira recorded its first gain against the US dollar at the official foreign exchange Market this week. FMDQ data showed an appreciation of N1,390.96 per...
Nigeria’s financial technology bank, Opay, said it has closed non-compliant accounts amid the recent Central Bank of Nigeria’s restriction. According to Nairametric, Opay disclosed this in...
The Nigerian Exchange Market Limited investors lost N3.57 trillion in market value in April as the All-Share Index experienced a significant decline amid the Central Bank...
The President of the African Development Bank, Dr Akinwumi Adesina has said the continent needs $277 billion yearly to address Climate Change. Adesina disclosed this in...
The naira depreciated by N79.88 against the dollar at the official foreign exchange market. FMDQ data showed that the naira closed at N1,419.11 per US dollar...
Nigeria’s Debt Management Office, DMO, sold treasury bills valued at N2.669 trillion across its auctions in March 2024.FMDQ disclosed this in its recent Markets Monthly Report...
After days of depreciation, the naira bounced back against the US dollar in the parallel market. A Bureau De Change operator, Mistila Dayyabu, said in an...
The Central Bank of Nigeria has said it is all out to tackle rising inflation in Nigeria. The acting director of the Banking Supervision Department of...
The Nigerian government has said the N50,000 Conditional Grant Scheme to Nigerians is ongoing as 150,000 of one million targeted citizens have received disbursement. The Minister...
The naira recorded a weekly depreciation of N169.24 against the US dollar in the foreign exchange market on Friday. FMDQ data showed that the Nigerian currency...
President Bola Tinubu has approved the appointment of the new heads for the National Environmental Standards and Regulation Enforcement Agency, NESREA and Niger Delta River Basin...
President Bola Tinubu has approved the appointment of Mr. Jim Ovia, a renowned banker and businessman, as the chairman of the board of the Nigerian Education...
ByteDance, the Chinese parent company of TikTok, refuted on Thursday that it is considering selling the popular social media platform, dismissing media speculation in the wake...
The Netherlands plans to invest another $250 million in Nigeria in the coming months. Prime Minister of the Netherlands, Mark Rutte, disclosed this when President Bola...
The Nigerian Exchange Limited, NGX, has returned to positive sentiment as investors gained N26 billion on Thursday. Accordingly, the market capitalization, which opened at N55.494 trillion,...
The Naira has slumped seven times in recent days against the US dollar at the foreign exchange. FMDQ data showed that the Naira recorded a seventh...
Multichoice Nigeria, owners of Nigerian pay television, DStv and GOtv, have announced a price increase for its packages. According to a notice to customers on Wednesday,...
The Association of Bureau De Change Operators of Nigeria, ABCON, has blamed peer-to-peer cryptocurrency platforms like Binance for the recent depreciation of the Naira against the...
Dangote Petroleum Refinery said its N940 per litre diesel price cut is only applicable to customers buying five million litres and above. The Head of Communication,...
The naira has continued its depreciation against the US dollar for the fifth time despite the Central Bank of Nigeria’s sale of foreign currencies to legitimate...
The Nigerian Electricity Regulatory Commission, NERC, has transferred regulatory oversight of the electricity market in Ekiti State to the Ekiti State Electricity Regulatory Bureau, EERB, amid...
The Lead British International, LBI, Abuja, has said it will take disciplinary measures against students seen in a viral video bullying their peer. Abraham Ogunkanmbi, Head...
The rising price of malaria, antibiotics, anti-diabetes, hypertension drugs and other pharmaceutical products have heightened the fears of increased mortality and reduced life expectancy among Nigerians....
Again, the Naira lost N64.5 against the US dollar in the foreign exchange market. FMDQ data indicated that the Naira depreciated to N1,234.49 per US dollar...
Following the Enugu State Electricity Law signed by Governor Peter Mbah and the recent constitution of the Enugu State Electricity Regulatory Commission, ESERC, by the Mbah...
West Power & Gas Limited, WPG, the majority shareholder of Eko Electricity Distribution Company, EKEDC, has terminated the appointment of the former managing director of the...
Former Super Eagles coach, Samson Siasia, has revealed that Mikel Obi is stubborn. Siasia disclosed this during a podcast with ex-international Emmanuel Babayaro and journalist Mathew...
The price of Household Kerosene (HHK) paid by consumers in Nigeria rose to N1,354.40 in March 2024. The National Bureau of Statistics, NBS, disclosed this in...
Nigeria targets up to $30 billion from its inaugural foreign currency-denominated bond issuance planned for June, 2024. Patience Oniha, Director-General of the Debt Management Office, disclosed...
Dangote refinery will start supplying petrol in the fourth quarter of 2024, according to Standard and Poor’s’ Global Commodities, S & P. Kelly Norways, an African...
Nigeria’s leading commercial bank, First Bank of Nigeria Limited has appointed Olusegun Alebiosu as its acting Managing Director with effect from April 2024. First Bank’s acting...
President Bola Tinubu will on Monday, April 22, open the African Counter-Terrorism Summit in Abuja. Ajuri Ngelale, Special Adviser to the President on Media and Publicity...
The Air Transport Service Senior Staff Association of Nigeria, ATSSSAN, has threatened to ground aviation operations in Nigeria over the Federal government’s 50 per cent internal...
President Bola Tinubu has approved the appointment of the Board of the Securities and Exchange Commission, SEC. Presidential spokesperson Ajuri Ngelale, who disclosed this in a...
The Nigerian National Petroleum Company Limited, NNPCL and its joint venture partner in OML 85, First Exploration and Petroleum Development Company Limited, First E&P, have commenced...
Minister of Finance, Wale Edun, has said that the Nigerian Government issued N8 trillion in government security, known as treasury bills, to stabilize and boost the...
The price of Brent crude is now $90.54 per barrel, up from $87 days after the war between Israel and Iran escalated. Oil prices jumped more...