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Category: Economy and Capital Markets
Nigerians groan as Naira scarcity persists nationwide
Few days into the Christmas and New Year celebrations, Nigerians are again faced with the scarcity of Naira notes. The development is coming despite the assurance of the Central Bank…
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NNPC, partners commit to reduce methane emissions
Nigerian National Petroleum Company (NNPC) Limited has stated that it is committed to advancing the cause of methane emission reduction in oil and gas operations by collaborating with international partners.…
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How collaboration between FG and stakeholders will guarantee food sufficiency
In line with the directive of President Bola Ahmed Tinubu, GCFR, at the declaration of food security emergency, the Federal Ministry of Agriculture and Food Security has synergized with the…
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Federal Government vows to make food available for Nigerians
The Federal Government of Nigeria has disclosed its intention to provide food to its citizens in the upcoming year. The FG revealed that it is aiming to produce about 31…
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FX backlog: 31 banks receive tranche payment from CBN
According to information released by the Central Bank of Nigeria (CBN), 31 banks have received tranche payments from the CBN to settle outstanding foreign exchange forward obligations. In order to…
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For the second time in a week, the value of the Naira falls against the dollar.
The naira, Nigeria’s currency, depreciated against the US dollar on Wednesday at the foreign exchange market. Official data from FMDQ showed that the country’s currency depreciated to N840.53 against the dollar…
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In three months, banks provide Nigerians N290 billion in loans – Report
According to the Central Bank of Nigeria's (CBN) Economic Report for the Second Quarter of 2023, Nigerians have borrowed over N290 billion from banks in the last three months. Consumer…
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AfDB set to disburse $618 million to Nigeria
Nigeria will receive $618 million from the African Development Bank (AfDB) as part of the Investment in Digital and Creative Enterprise (i-DICE) program. In an interview with the News Agency…
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FG Will Shock Speculators Hoping Dollar Value Will Increase Against Naira – VP Shettima
The vice president asserts that Tinubu has far more forward-thinking ideas than currency speculators. Vice President, Kashim Shettima has assured that the new monetary policies rolled out by his…
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Manufacturers Owe Banks N6.98 Trillion, Says CBN Report
From N5.56 trillion in January 2023 to N6.98 trillion in June 2023, the manufacturing sector's debt to Nigerian banks increased. The Sectoral Analysis of Deposit Money Banks' Credit from the…
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