Business & Economy

Business & Economy

Naira’s fall continues as CBN releases another $500 million for forex backlog

Plu Team -
The Central Bank of Nigeria (CBN) says it has released $500 million to various...
Business & Economy

Naira tumbles to new low as dollar scarcity persists

Olawale Afolabi -
The naira plunged to a new record low on Thursday, inching closer to the...
Business & Economy

Central Bank of Nigeria reveals its inflation target figure

Plu Team -
In his first public address on the economy since November, Central Bank of Nigeria...
Business & Economy

Nigeria’s inflation surges to 27-year high

Plu Team -
Nigeria's inflation crisis reached a fever pitch in December 2023, soaring to a staggering...
Business & Economy

House member questions EFCC raid on Dangote over forex

Plu Team -
A member of the House of Representatives says a raid by anti-graft officials on...
Business & Economy

National Assembly approves Tinubu’s N28.8 trillion budget for 2024

Plu Team -
The National Assembly approved a revised budget of N28.8 trillion naira (approximately $34 billion)...
Business & Economy

Nigeria mandates oil firms to supply Dangote, other local refineries 483,000 barrels daily

Plu Team -
Oil producers in Nigeria will be required to supply 483,000 barrels per day (bpd)...
Corruption

Seven most shocking CBN probe findings: $6.2m for election observers, others

Olawale Afolabi -
The special investigator appointed by President Bola Tinubu to investigate the activities of the...
Business & Economy

Nigeria’s unemployment woes deepen despite govt’s revised data

Olawale Afolabi -
Nigeria’s unemployment problem worsened in the second quarter of 2023 despite the government’s new...
Business & Economy

Naira falls to new intraday low on official market

Plu Team -
Naira dipped to its lowest official mark ever on Tuesday, briefly touching 1,248 against...
Business & Economy

Cash from abroad slows: Nigeria’s remittance growth hits 3-year low

Olawale Afolabi -
Growth in remittance flows to Nigeria, a crucial lifeline for millions, stumbled in 2023,...
Business & Economy

Nigeria’s revenue to GDP too low, IMF warns

Eric Ojo -
The International Monetary Fund (IMF) expressed concern about Nigeria's low revenue-to-GDP ratio, urging the...
Business & Economy

Tinubu proposes N4.6 trillion deficit reduction in 2024 budget

Plu Team -
President Bola Tinubu plans to reduce federal budget deficit in 2024, aiming to bring...
Business & Economy

Central Bank of Nigeria postpones interest rate meeting again

Plu Team -
The Central Bank of Nigeria has again postponed a meeting of its monetary policy...
Business & Economy

Nigeria inflation soars again – driving more people into poverty

Eric Ojo -
Nigeria's inflation rate soared for the 10th straight month to an 18-year high in...
Business & Economy

Nigerian govt watchdog wants NNPC probe over Buhari era’s subsidy surge

Eric Ojo -
The Nigerian government’s extractive industry watchdog has demanded an investigation after records showed that...
Business & Economy

Naira resumes decline as CBN faces more FX backlog

Plu Team -
The naira weakened on Wednesday despite efforts by the central bank to clear a...
Business & Economy

Nigeria launches new crude oil grade “Nembe” to compete in Europe

Plu Team -
Nigeria has launched a new low-sulfur grade of crude oil which is particularly suited...
Business & Economy

Why naira is suddenly gaining against dollar

Plu Team -
The injection of dollars into the Nigerian foreign exchange market and the central bank’s...
Business & Economy

CBN begins clearing forex contracts, easing naira pressure

Jane Kalu -
The Central Bank of Nigeria (CBN) has cleared matured forward foreign-exchange contracts with an...
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