Business

Nigeria’s Debt Management Office could only raise around half of its intended sale of N2.5 trillion in seven and 10-year bonds yesterday as the low-interest rates on…

Developers in the built industry have rejected the agreement reached between the Federal Government and cement manufacturers. At the meeting, it was resolved that prices of cement will be reduced to betweenN7,000 and…

Less than five days after it marginally reduced the Customs Exchange rate from N1515.48 to N1472.756 last week, the Central Bank of Nigeria (CBN) has again, for the umpteenth time, increased the rate to N1605.82 per…

https://youtu.be/JdbQYc6Rujs Sweat dripped down Kasim Yusuf's brow as he surveyed his land. A year ago, the scorching sun beat down on a meagre one-hectare farm, barely enough to feed…

The Nigerian naira, on Tuesday, depreciated further to N1,900 to the dollar at the parallel section of the foreign exchange (FX) market. The naira declined by 9.83 percent from the N1,730 recorded on Monday. Currency…

PZ Cussons Nigeria is facing possibly its biggest existential problem since setting foot in the country 125 years ago after Nigeria’s harrowing foreign exchange…

The Nigerian government is considering blocking the online platforms of Binance and other crypto firms to avert what it considers continuous manipulation of the forex market and illicit movement of funds, officials with…

Telecommunications operators in Nigeria are preparing to increase tariffs for voice and data services to reflect the current economic conditions in the country.   Nairametrics learnt that a cost-based study…

The leading banks by market capitalization showcase the dynamic global banking sector. With institutions from the United States, China, India, and the United Kingdom taking top positions. The global banking…

The federal government has threatened the possibility of opening the borders to cement importation if Nigerian cement manufacturers refuse to play ball on cement reduction in the country. It also said that although it…

On Tuesday, the naira dipped further, trading at N1,825 to a dollar, despite efforts by the Economic Financial Crimes Commission (EFCC) to disrupt the activities of perceived manipulators and speculators. On Monday, Peoples…

Nuhu Ribadu, the National Security Adviser, has instructed operatives of the Nigeria Police Force, the Economic and Financial Crimes Commission (EFCC), the Nigeria Customs Service and the Nigeria Financial Intelligence Unit…

The Nigerian equity market commenced the week on a bearish note, witnessing significant losses amounting to about N1.82 trillion as investors grappled with strong sell-offs across key stocks. Prominent securities like…

The Chief Executive Officer of Nigerian Breweries Plc, Hans Essaadi, has said that the economic situation in Nigeria has deteriorated to the extent citizens can no longer afford to buy beer. Essaadi said this on Monday at…

The Federal Government has announced plans to prioritize road repairs and explore solutions for reducing gas costs and import duties, aiming to decrease the soaring prices of cement across the country.  This resolution was…

Since the announcement by major feed producers in the country to suspend the purchase of maize and sorghum from farmers, prices of the grains have dropped by 21 percent as hoarders are releasing more of the commodities to…

Purple Real Estate Income Plc (Purple), is pleased to announce significant changes to its board, marking a pivotal moment in the company’s growth strategy. Alhaji Aminu Umar and Mr Olasunkanmi Oladimeji join the board as…

A senior aide to Nigerian President Bola Tinubu urged the central bank to pay attention to the political impact of its decisions, amid a public backlash over the fallout from recent economic reforms. In an article on…

The naira continued its freefall on Monday, dipping to N1,700 against the dollar and N2,100 to a pound sterling as Nigeria’s economy continues to hurt under President Bola Tinubu’s watch. This comes as the naira hits an…

Cement manufacturers have agreed to bring down the price of the product to between N7,000 and N8,000 per 50kg depending on the location nationwide. During a meeting initiated by the Minister of Works, David Umahi, and…

The Nigerian Breweries Plc recently announced an upward price change for its Stock-Keeping Units (STUs) with effect from February 19. A letter dated February 12 titled: ‘Price review notification,’ by the Zonal Business…

Nigeria’s local currency is currently exchanging above 2,000 naira against the Great Britain Pound at the parallel market. A Bureau de Change operator at Wuse Zone 4, Malam Ibrahim, confirmed the rates on Monday. He…

Credit rating agency, Fitch Ratings, has said that the proposed foreign currency gateway bank announced by the Central Bank of Nigeria may have a negative impact on the liquidity of Nigerian banks. This was revealed in the…

Olam Agri in Nigeria says it has suspended off taking maize and sorghum in Nigeria. The suspension follows the food security challenges being experienced by the country, according to the company. The company, one of…