Nigeria Customs Seize N1.975bn Worth of Goods in Six Weeks
In a span of six weeks, the Nigeria Customs Service has reported a staggering N1.975 billion in revenue from confiscated […]
African Business News
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Cement Prices Skyrocket in Nigeria’s Capital, Abuja
The price of a 50-kilogram bag of cement has surged to between N10,000 and N15,000 in the Federal Capital Territory,
CBN Raises Price Verification System Limit to 15%
The Central Bank of Nigeria (CBN) has announced a significant increase in the Price Verification System (PVS) limit from 2.5%
Kaduna Electric Boosts Employee Morale Amidst N110 Billion Debt
The Kaduna Electricity Distribution Company has taken a significant step by increasing its employees’ salaries by 10 percent despite grappling
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
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,