Economy
Nigeria’s GDP Could Rise to 5% with Structural Reforms, Says IMF
The International Monetary Fund (IMF) has indicated that Nigeria’s economy has the potential to grow at a robust rate of...
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Naira Nears N1,600/$1 as Daily Forex Turnover Hits 2024 Low
The Nigerian foreign exchange market is experiencing a significant downturn, with the average daily forex turnover hitting its lowest point...
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CBN Lifts Suspension on Standing Lending Facility, Adjusts Rates
The Central Bank of Nigeria (CBN) has lifted the suspension on its Standing Lending Facility (SLF) for authorized dealers, a...
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Domestic Air Fares Surge by 25% in July 2024 Amid Rising Tax Charges
Domestic air travel in Nigeria saw a significant rise in costs in July 2024, with airfares jumping by 25% year-on-year,...
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Nigeria’s Capital Outflows Surge to $1 Billion in April 2024, Driven by Capital Reversals
In April 2024, Nigeria experienced a notable surge in capital outflows, reaching a total of $1 billion, marking a significant...
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Nigeria’s GDP Grows by 3.19% in Q2 2024, Driven by Services Sector
Nigeria's Gross Domestic Product (GDP) recorded a robust growth of 3.19% year-on-year in real terms during the second quarter of...
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FG Threatens to Shut Down Fuel Stations as Petrol Prices Skyrocket to N1,000/Litre
In a dramatic surge, petrol prices at many independent filling stations across Nigeria have skyrocketed to between N900 and N1,000...
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Nigeria’s FX Turnover Hits $7.4 Billion in July, Reflecting Increased Trading Activity
Nigeria's foreign exchange (FX) market experienced a significant boost in trading activity in July 2024, with a turnover of N11.48...
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Nigeria’s World Bank Loan Disbursement Under Tinubu’s Administration Stands at Only 16%
Nigeria has so far received just 16% of the World Bank loans approved during the administration of President Bola Tinubu,...
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CBN Adjusts Customs Duty Exchange Rate, Reduces Costs for Importers
The Central Bank of Nigeria (CBN) has implemented a new exchange rate for calculating customs duties, offering relief to importers...
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Naira depreciates to N755/$ in the parallel market.
