Naira Appreciates Against US Dollar Amid Central Bank Interventions
Data from FMDQ revealed that the Naira strengthened against the US dollar, reaching N1,498.25 per dollar on Thursday, up from […]
African Business News
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Bola Tinubu Vows to End Food Importation and Combat Hoarding
During a meeting with government officials, President Bola Tinubu made a bold statement declaring his refusal to approve food importation
We’re poised to make Nigeria a global shipping hub – Reps Speaker Abbas
February 15, 2024 The Speaker of the House of Representatives Rt. Hon Abbas Tajudeen, has said that the 10th House
Nigerian Think Tank Urges Government to Peg Import Duty Exchange Rate at N1,000 per Dollar to Combat Soaring Inflation
The Centre for the Promotion of Private Enterprise (CPPE) has recommended that the Nigerian Federal Government fix the exchange rate
Food Prices Soaring in Nigerian States: Latest Rankings
The latest data reveals the Nigerian states experiencing the fastest rise in food prices. Topping the list are Kogi, Kwara,
Naira Plunges: CBN Restricts International Oil Companies from Repatriating Full Forex Revenue
The Central Bank of Nigeria (CBN) has implemented new regulations prohibiting international oil companies (IOCs) operating in Nigeria from immediately
CBN’s New Directive: Naira’s Plunge Prompts Shift to Electronic Travel Allowances
In response to the continued devaluation of the Naira in the foreign exchange market, the Central Bank of Nigeria (CBN)
Nigeria’s Inflation Rate Surges to 29.90% in January
In January 2024, Nigeria’s inflation soared to 29.90%, up from 28.92% in December 2023, largely driven by escalating food prices,
Nigerian Government Commits to Settle N3 Trillion Inherited Power Sector Debt
The Minister of Power, Adebayo Adelabu, announced the Federal Government’s dedication to addressing the inherited N3 trillion debt in the
Dangote Refinery Set to Export First Fuel Cargoes
The Dangote Petroleum Refinery has initiated the sale of two fuel cargoes for export, marking a significant milestone for the
Naira Weakens Against US Dollar Amid Decline in Foreign Exchange Supply
The Nigerian Naira faced depreciation against the US dollar with a 56.58% drop in foreign exchange supply to $117.87 million.
Nigeria’s Dangote Refinery Set to Export First Fuel Cargo
Nigeria’s Dangote refinery, with a production capacity of 650,000 barrels per day, is poised to make its inaugural fuel cargo