ECONOMY

Petrol Marketers in Nigeria Demand End to NNPC's Supply Monopoly Amid Subsidy Concerns - Petrol marketers in Nigeria have raised concerns over the monopoly in the petrol supply, highlighting that the...

Naira Weakens at Official FX Market, Strengthens in Parallel Black Market - In a day of contrasting performances, the Naira fell by 1.48% in the official foreign exchange market on Wednesday,...

Nigeria’s Industrial Ambitions Stalled Amid Economic Headwinds -- Despite 63 years since gaining its independence, Nigeria continues to struggle with fostering a robust industrial sector due to a heavy reliance on...

Tuesday Trading Sees Naira Rising Against Dollar as FX Market Reopens -- In a positive turn of events on Tuesday, the Naira witnessed a noteworthy appreciation of 0.79 percent (equivalent to...

Food Prices Soar by 31% in Nigeria with Ebonyi and Abia States Leading, Reports NBS - The National Bureau of Statistics (NBS) has reported a substantial 31% increase in food prices...

Nigerian Stock Trades Tumble to Four-Month Low Amid Market Uncertainties - August witnessed a significant dip in the stock trading volume recorded by the Nigerian Exchange Limited (NGX), plummeting by 62.65%...

Nigeria Secures $1.95bn in World Bank Loans Amidst Rising Debt Concerns - In the face of rising public concern over the nation's increasing debt profile, Nigeria has successfully secured a substantial...

Rate Hikes, Naira Devaluation Pummel FMCG Sector, Leading to Soaring Borrowing Costs - Leading Fast-Moving Consumer Goods (FMCG) firms in Nigeria are facing a financial crisis, as a surge in interest...

Cardoso Proposes Urgent Monetary Reset as Naira Tumbles to 1,000/$ - In a critical response to the naira plummeting to an unprecedented low of 1,000 per US dollar on the parallel...

Nigeria's Forex Crisis: Business in Peril as Foreign Suppliers Reject Letters of Credit -- Nigerian businesses, heavily dependent on imports, are facing an unprecedented crisis. Their foreign suppliers, skeptical of the...