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Category: Economy and Capital Markets
Nigeria’s GDP Grew By 3.46% In Q4 2023 — NBS
The National Bureau of Statistics has revealed that Nigeria's Gross Domestic Product experienced a year-on-year growth of 3.46 percent in real terms during the fourth quarter of 2023. In its…
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CBN To Banks: Notify Customers Before Debt Recovery Moves
The Central Bank of Nigeria has instructed regulated entities to provide customers with notices of outstanding obligations before beginning debt collection. This is to ensure that the debt recovery process…
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Why Dangote Refinery Cannot Commence Sale Of Products
Indications have emerged that lingering regulatory approvals have stalled Dangote Petrochemical Refinery’s plan to release aviation fuel (Jet A1) and diesel for sale in the Nigerian market in January. One…
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Food prices remain high globally – World Bank
The World Bank has said inflation in food prices remains high globally. The World Bank made this known in its latest Food Security Update report on Tuesday that available…
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Shareholders Of Chevron Paid $26bn Despite Declining Earnings
Chevron Corporation has said it returned $26bn to investors for the year 2023. This is despite the company’s declaration that its reported earnings declined compared to last year. “In 2023,…
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CBN To Banks: You Must Sell Excess Dollars In 24 Hours
Amid its fresh moves to stabilise the nation’s volatile exchange rate, the Central Bank of Nigeria has ordered Deposit Money Banks to sell their excess dollar stock latest February 1,…
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High Expectations As CBN Injects $500m Into Forex Market
With Monday’s injection of $500 million into the Foreign Exchange (forex) market, the Central Bank of Nigeria (CBN) has reduced the $10 billion backlog of verified forex transactions by $2.5…
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Experts Identify How The Naira Can Be Resuscitated
Worried by the parlous state of the economy, especially the unprecedented fall in the value of the nation’s legal tender in recent times, a cross section of experts have suggested…
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Foreign Exchange Crisis: How Guinness Posted Over N5bn Loss
Foreign exchange expenses eroded the operating profit of Guinness Nigeria Plc for the year ended December 2023, resulting in N5.233bn loss. This was contained in the unaudited interim financial statements…
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Delay In Fuel Supply By NNPCL Angers Marketers
Oil marketers under the aegis of the Independent Petroleum Marketers Association of Nigeria have berated the Nigerian National Petroleum Company Limited for alleged delay in the supply of petroleum products.…
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