Economy
World Bank Expresses Doubts on CBN’s Monetary Policy Impact on Nigeria’s Inflation
The World Bank has raised concerns over the effectiveness of the Central Bank of Nigeria’s (CBN) monetary policy tightening in...
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Nigeria’s Crude Oil Production Falls to 1.25 Million BPD in May – OPEC Report
Nigeria's average crude oil production dropped to 1.25 million barrels per day (bpd) in May, down from 1.28 million bpd...
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VAT Collection Rises by 19.21% to N1.43 Trillion in Q1, Reports NBS
The Value Added Tax (VAT) collected in Nigeria saw a significant increase in the first quarter of 2024, rising by...
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TotalEnergies and Presco Surge as MTN Nigeria’s N195 Billion Loss Drags Market Down
The Nigerian Stock Exchange (NGX) witnessed notable movements today with TotalEnergies Marketing and Presco leading the gains, but the overall...
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Naira Shows Stability as FX Turnover Surges by 138.67%
The naira exhibited signs of moderate stability as foreign exchange (FX) turnover on the Nigerian Autonomous Foreign Exchange Market (NAFEM)...
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Naira Shows Resilience Amidst Forex Market Fluctuations
Recent data from the Financial Markets Dealers' Quotation (FMDQ) platform has revealed notable fluctuations in Nigeria's foreign exchange market, highlighting...
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Allegations of further license revocations are baseless fabrications – CBN
The Central Bank of Nigeria (CBN) has reiterated its commitment to ensuring the safety of depositors' funds and the resilience...
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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...
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NNPC Refutes Allegations of Inflating Petrol Subsidy by N3.3tn
The Nigerian National Petroleum Company Limited (NNPCL) has categorically denied allegations that it inflated petrol subsidy claims by N3.3 trillion...
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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...
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