Nigeria inflation soars again – driving more people into poverty
Nigeria's inflation rate soared for the 10th straight month to an 18-year high in October, driven by weaker naira, low food production and the...
Nigerian govt watchdog wants NNPC probe over Buhari era’s subsidy surge
The Nigerian government’s extractive industry watchdog has demanded an investigation after records showed that fuel subsidy payments rose 1,433% within a year under former...
Naira resumes decline as CBN faces more FX backlog
The naira weakened on Wednesday despite efforts by the central bank to clear a backlog of matured foreign-exchange forward contracts. The naira fell to...
Nigeria launches new crude oil grade “Nembe” to compete in Europe
Nigeria has launched a new low-sulfur grade of crude oil which is particularly suited to the European market as it seeks to produce and...
Why naira is suddenly gaining against dollar
The injection of dollars into the Nigerian foreign exchange market and the central bank’s interest rate hikes are working in favour of the naira,...