Business

Nigeria is prioritising engagement with banks to securitise five years of dividends from the Nigeria LNG Limited (NLNG) and turn this into as much as $7 billion to ease the country’s acute foreign exchange shortage…

Nigeria is engaging with banks to securitise five years of dividends from the Nigerian LNG Limited (NLNG) to raise some seven billion dollars to ease the country’s acute foreign exchange shortage. The government’s…

The Special Assistant to the President on Special Duties and Domestic Affairs, Toyin Subaru, has assured Nigerians that the planned rollout of Compressed Natural Gas buses will reduce CNG price to N230 per kg. This is…

…Energy, mining, utilities record $7.8bn deals in Sub-Saharan Africa Investors, representing 50 percent of respondents choose South Africa as a future investment destination in Sub-saharan Africa, over Nigeria…

Marketers of petroleum products in Nigeria have hinted that the pump price of petrol in the country could rise further to between N700 and N800 per litre, up from the current…

Dollar shortage in Argentina has left oil ships stranded at sea, forcing some fuel stations in the south-american country to shut down. This has led to long queues in petrol and gas stations that are still in operation,…

Nigeria is reportedly holding sizable crude overhangs for loadings scheduled for November just as crude  premiums to benchmark prices have come down by $1 to $2 a barrel depending on the grade, traders said. A similar…

The naira within a span of hours appreciated by N166 to the dollar in the P2P market, as currency traders re-evaluate their strategies. The naira peaked at N1279/$ on Thursday evening but settled at N1113/$ as of…

*To utilise proceeds to settle backlog of FX forwards, flood market with dollars  *FX speculators may suffer losses As part of efforts to boost foreign currency liquidity in the economy and strengthen foreign…

Tomatoes have become more expensive in Lagos in recent weeks, putting many Nigerian households under increasing pressure amid mounting economic headwinds. “I used N6,500 worth of tomatoes to cook a pot of soup – the same…

Amid inflation concerns, devaluation of Naira, Nigeria’s total money supply (M2) grew to N66.4 trillion, from N65.15 trillion recorded in August 2023,…

     ​​​   …….. Reports Profit Before Tax of ₦433.2billion Guaranty Trust Holding Company Plc (“GTCO” or the “Group”) has released its Unaudited Consolidated and…

Hassan Abdulrasheed, a senior developer with a commercial bank in Nigeria, had his old laptop replaced by the company with a new one. Everything was…

Economic experts have identified some of the major reasons behind the worsening situation of foreign exchange crisis in Nigeria. As of Tuesday, the exchange rate stood at over N1,200/$ at parallel market as the dollar…

The Economic and Financial Crimes Commission (EFCC) has charged Point of Sale (POS) operators to have a database for details of their customers. The Ilorin Zonal Commander of EFCC, Michael Nzekwe, disclosed this…

In 2018, the mere thought of visiting a bank branch was a nightmare for many Nigerian bank customers. The queues were unending and did not respect…

Naira on Tuesday fell to a record low of N1,310 per dollar following strong demand on the parallel market, also known as the black…

The House of Representatives on Tuesday, October 24, asked its committees on finance as well as Customs and Excise to investigate the recent lifting of the forex ban on some items by the Central Bank of Nigeria (CBN).…

Nigeria’s currency will stabilise in the short-term if the expected $10 billion flows through the economy, analysts said on Monday. Naira on Monday strengthened against the…

Stakeholders in the financial sector have released a communique that will ensure the blacklisting of criminals in the financial sector. The communique was issued…

The naira, on Monday, continued its depreciation streak at the parallel section of the foreign exchange (FX) market. The local currency began the week at N1,225 per dollar —…

The Nigerian government is planning to raise $10 billion to address the country’s foreign exchange crisis that has sent the naira tumbling on both the official and parallel markets, worsening a cost-of-living…

Gas marketers under the platform, the Nigerian Association of Liquefied Petroleum Gas Marketers have blamed the terminal operators for the high cost of gas in the country. President of the (NLPGM) Oladapo Olatunbosun…

…..President understands role of private sector – GMD The Dangote Group yesterday received accolade from President Bola Ahmed Tinubu, who expressed government’s position over the company’s numerous strides in Nigeria…