Economy
Federal Government Reports $20 Billion Savings from Subsidy Removal
The Federal Government of Nigeria has announced a $20 billion savings following the removal of the petrol subsidy and the adoption of market-driven...
President Tinubu Seeks $2.2 Billion Loan Approval Amid Rising Debt Concerns
On Tuesday, November 19, President Bola Tinubu submitted a formal request to the National Assembly to approve an external loan of $2.2 billion....
Dangote Refinery Reduces Petrol Price Per Litre
The Dangote Group has announced a reduction in the price of Premium Motor Spirit (PMS), commonly known as petrol, to N970 per litre...
Naira Depreciates Further Against the Dollar Across FX Markets
The naira experienced renewed depreciation against the dollar on Wednesday at both the official and black market foreign exchange rates. Data from FMDQ...
Dangote Refinery Resumes US Crude Oil Purchases Amid Domestic Supply Challenges
The Dangote Refinery has resumed purchasing crude oil from the United States to increase its refining capacity and boost production levels. This marks...
Nigeria’s Inflation Hits 33.88% in October Amid Rising Food and Energy Costs
Nigeria’s inflation rate surged to 33.88% in October 2024, up from 32.70% recorded in September, driven by escalating food prices and soaring energy...
CBN’s Push for Financial Inclusion: Expanding Access to 28 Million Unbanked Nigerians
The Central Bank of Nigeria (CBN) has revealed that approximately 28 million Nigerians, primarily in rural areas, lack access to banking services. This...
CBN Maintains High Interest Rates to Tackle Persistent Inflation in Nigeria
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, recently highlighted the complexities surrounding Nigeria’s high-interest rate policies, pointing out...
CBN Confirms No Deadline for Old Naira Notes, Dispels December 2024 Rumors
The Central Bank of Nigeria (CBN) has clarified that there is no cutoff date for using the old N200, N500, and N1,000 Naira...
NNPC-Chevron Joint Venture Makes New Discovery Amid Declining Oil Exploration in Nigeria
The NNPC Limited – Chevron Nigeria Limited Joint Venture (NNPC-CNL JV) has achieved a significant milestone with the successful drilling of the Meji...
