Business & Economy

Business & Economy

Minister blames naira fall on $6.8bn forex payment backlog

Plu Team -
Finance minister Olawale Edun says Nigeria has to clear a $6.8 billion backlog of...
Business & Economy

CBN postpones interest rate meeting as old leadership resigns

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

Naira at record low on black market, inches closer to 1000 to dollar

Olawale Afolabi -
Naira fell to a record low on the black market on Wednesday, edging closer...
Business & Economy

Crude oil surges to 10-month high, a headache for Nigeria

Olawale Afolabi -
Global oil prices surged close to the $95 per barrel mark on Monday as...
Business & Economy

Audit finds 38,000+ ton discrepancy in Nigerian mineral shipments

Olawale Afolabi -
Mining firms shipped more than 38,000 tons of solid minerals from Nigeria and were...
Business & Economy

Unemployment data: NBS faces more scrutiny, disowns comment

Olawale Afolabi -
Nigeria’s former statistician-general, Yemi Kale, has faulted the new methodology adopted by the National...
Business & Economy

Nigeria’s economic growth slows as oil sector shrinks

Plu Team -
Nigeria's economic growth slowed to 2.51% in the second quarter from 3.54% a year...
Business & Economy

NBS puts Nigeria unemployment at 4.1%

Jane Kalu -
Unemployment in Nigeria fell to 4.1% in the first quarter of 2023 and was...
Business & Economy

Naira tumbles to N900 after brief recovery

Jane Kalu -
The naira is on a downward spiral again after government’s intervention handed the currency...
Business & Economy

Nigeria shares N966 billion to states, LGAs as July revenue drops

Plu Team -
The Federation Account Allocation Committee said it has distributed N966.11 billion to the three...
Business & Economy

Tinubu halts petrol price rise – effectively reinstating subsidy

Plu Team -
President Bola Tinubu said his government will not allow a further rise in the...
Business & Economy

Nigeria annual inflation jump biggest in 7 years after subsidy removal

Plu Team -
Nigeria’s inflation rose to its highest level in at least 18 years in July,...
Business & Economy

Petrol going to N720 a litre as naira suffers, marketers say

Olawale Afolabi -
The retail price of petrol in Nigeria is bound to rise to between N680...
Business & Economy

CBN finally admits breaking law with N23 trillion loan to Buhari govt

Ini Ekott -
The Central Bank of Nigeria (CBN) has admitted for the first time it broke...
Business & Economy

Nigeria dollar bonds fall after CBN report reveals Goldman Sach, JP Morgan loans

Olawale Afolabi -
The Central Bank of Nigeria released its financial report on Friday for the first...
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,...
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