Economy
Nigeria’s Domestic Debt for States and FCT Rises by N198.96 Billion in Three Months
The domestic debt of Nigeria's 36 states and the Federal Capital Territory (FCT) increased by N198.96 billion within the last...
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Naira Falls to N1,740 per Dollar in Parallel Market Amid Rising Dollar Turnover
The Nigerian naira has dropped to N1,740 per dollar in the parallel market, a decline from the rate of N1,725...
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Nigeria’s Fiscal Deficit Exceeds Projections, Reaches 7.6% of GDP
Nigeria’s fiscal deficit has soared to 7.6% of GDP as of August 2024, far surpassing the initially approved target of...
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FIRS Chairman Dismisses Fears Over Proposed Tax Reform Bills
The Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, has reassured Nigerians that the proposed tax reform bills...
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Banks Granted Flexibility to Trade Foreign Currency Deposits Under New CBN Guidelines
The Central Bank of Nigeria (CBN) recently released new guidelines allowing commercial, merchant, and non-interest banks more flexibility in managing...
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Naira Hits Record Low of N1,681 per Dollar as Exchange Rate Pressures Mount
The Nigerian naira reached an unprecedented low of N1,681 per U.S. dollar on the official Investor and Exporter (I&E) window...
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Federal’s Budget Deficit Rises to N4.53 Trillion Amid Revenue Challenges
Federal government reported a fiscal deficit of N4.53 trillion in the second quarter of 2024, up from N3.88 trillion in...
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Nigerians Pay Down N4.05 Trillion in Personal Loans Amid Rising Interest Rates
Nigerians reduced their personal loan debts significantly in the second quarter of 2024, repaying a total of N4.05 trillion and...
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Dollar Turnover in Nigerian FX Market Jumps by 63% Amid Naira’s Depreciation
Dollar trading volume surged by 63% in the Nigerian Foreign Exchange Market (NAFEM) during October, with turnover reaching $5.4 billion...
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Nigerian Stock Market Downtrend Continues as Investors Lose N318bn
The Nigerian stock market's losing streak has now extended into a sixth day, with investors seeing losses of around N318...
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