Nigeria’s Foreign Debt Servicing Costs Surge by 96% to $2.19 Billion by May 2024
Nigeria has experienced a substantial increase in its foreign debt servicing expenditures, escalating by 96% year-on-year, according to recent data...
FX Turnover Plummets After Afreximbank’s $925 Million Disbursement
The Nigerian foreign exchange (FX) market experienced a significant downturn on Monday, with turnover plummeting by 39.95%. The drop saw...
Naira Gains Strength as Euro Falters Amidst European Political Shifts
The Nigerian naira has demonstrated resilience in the face of European political turmoil, gaining ground against the euro in the...
Nigerian Banks Adjust Lending Rates in Response to Central Bank’s Policy
In reaction to the Central Bank of Nigeria's (CBN) recent hike in the Monetary Policy Rate (MPR), the financial services...
Oando Announces $550 Million Participation in NNPC’s Project Gazelle
Oando Plc, a prominent indigenous energy company, has disclosed its successful involvement in the Project Gazelle financing deal with a...
NGX Ends First Week of June with Losses; Select Stocks Gain Over 20%
The Nigerian Exchange (NGX) closed the first week of June on a broadly negative note, with the market experiencing a...
Nigeria’s Fuel Import Bill Soars to N2.6 Trillion in Q1 2024
Nigeria's expenditure on fuel imports surged to N2.6 trillion in the first quarter of 2024, marking a 46% increase from...
Nigeria’s Trade Surplus Reaches Record N6.52 Trillion in Q1 2024
Nigeria’s trade surplus soared to a record N6.52 trillion in the first quarter of 2024, driven by significant export growth,...
Exchange Rate Gains Now Account for 20% of FAAC Allocations: Report
Exchange rate gains have significantly contributed to the Federation Account Allocation Committee (FAAC) disbursements over the past year, rising from...
Federal Government Ban on LPG Exports Lowers Cooking Gas Prices To N900\KG
The recent ban on the export of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, by the Nigerian Federal...
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