Business & Economy

Business & Economy

Naira could take 18 months to stabilize after reforms, IMF says

Plu Team -
Stabilizing Nigeria's economy and the naira exchange rate could take up to 18 months...
Business & Economy

Nigeria currency traders want Binance banned

Oge Udegbunam -
The Association of Bureaux De Change Operators of Nigeria (ABCON) has urged the Nigerian...
Business & Economy

Nigerians may pay more as Tinubu seeks higher tax-to-GDP

Olawale Afolabi -
President Bola Tinubu says his administration aims to rapidly increase Nigeria’s tax coverage as...
Business & Economy

S&P upgrades Nigeria outlook from ‘negative’ to ‘stable’ on reforms

Jane Kalu -
S&P Global Ratings revised its outlook on Nigeria to stable from negative on Friday,...
Business & Economy

Naira down to record low on black market

Jane Kalu -
The Nigerian naira plummeted to an all-time low on the black market on Friday,...
Business & Economy

Loans, buses, farms….A breakdown of Tinubu’s subsidy ‘palliatives’

Olawale Afolabi -
President Bola Tinubu gave a televised speech to the nation Monday evening in an...
Business & Economy

CBN raises interest rate as Tinubu seeks lower borrowing costs

Plu Team -
The Central Bank of Nigeria raised its key lending rate by 25 basis points...
Business & Economy

Governors denied full N1.9 trillion FAAC money; Tinubu creates infra fund

Plu Team -
The Federation Account Allocation Committee will not share the entire N1.9 trillion that accrued...
Business & Economy

Naira hits N860 at black market, a blow to moves to unify exchange rates

Olawale Afolabi -
The naira fell to its lowest on the parallel market on Wednesday, trading at...
Business & Economy

NNPC increases price of petrol to N617

Plu Team -
The Nigerian National Petroleum Corporation has increased the price of petrol from N537 to...
Business & Economy

Nigeria monthly inflation at 7-year high after fuel subsidy removal

Plu Team -
Nigeria recorded its highest monthly inflation rate in seven years in June, after President...
Business & Economy

Naira’s rapid fall prompts CBN intervention

Plu Team -
The Central Bank of Nigeria is intervening to prevent the naira from falling more...
Business & Economy

Tinubu seeks N500 billion support for Nigerians after fuel subsidy removal

Plu Team -
President Bola Tinubu has asked the National Assembly to authorize his government to spend...
Business & Economy

Only 9 Nigerian states got foreign investments in first quarter of 2023

Plu Team -
Capital inflows into Nigeria declined 28% in the three months through March to $1.1...
Business & Economy

Tinubu appoints PwC partner Taiwo Oyedele as tax reforms chair

Plu Team -
President Bola Tinubu has set up a tax reform committee and has appointed Taiwo...
Business & Economy

Petrol use in Nigeria falls after subsidy removal, regulator says

Jane Kalu -
Average daily petrol consumption in Nigeria has fallen by 28 percent after President Bola...
Business & Economy

Bank of America sees Nigeria inflation at 30% after subsidy removal

Jane Kalu -
Consumer prices in Nigeria are likely to rise by 30% by the end of...
Business & Economy

Nigeria projected to spend entire revenue on debt in two years

Jane Kalu -
Nigeria could spend more than its entire revenue on debt payment by 2025 if...
Business & Economy

Naira touches record lows on spot and forwards market

Plu Team -
The naira closed at another record low against the dollar Thursday at both spot...
Business & Economy

Naira: CBN says more action coming in “weeks”

Plu Team -
The Central Bank of Nigeria (CBN) plans to announce further measures to loosen foreign...
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