The Governor of the Central Bank of Nigeria, Olayemi Cardoso, says the apex bank remains resolute in its commitment to maintaining order in the country’s foreign exchange market by identifying and eliminating bad actors whose activities undermine the stability of the naira. This came as findings showed that the naira depreciated slightly at the official […]
President of Dangote Group, Aliko Dangote, has said that his company decided to go back and invest in Ogun State because of the Governor Dapo Abiodun-led administration’s vision and deliberate policies that focus on attracting investors as well as the investor-friendly climate that exists in the state. Dangote, who stated this, yesterday, during a courtesy […]
The central parity rate of the Chinese currency Renminbi, or the Yuan, strengthened 45 pips to 7.1696 against the dollar on Wednesday. This is according to the China Foreign Exchange Trade System. The central parity rate of the Yuan against the dollar is based on a weighted average of prices offered by market makers before […]
The Federal Government is charting new ways to improve sanitary and phytosanitary (SPS) compliance to boost non-oil exports. Focusing on sesame and cowpea produce, both critical pillars of the economy, the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, said both produce contribute significantly to Nigeria’s foreign exchange earnings, and provide livelihoods for thousands of […]
The Federal Government has announced plans to regularize electricity tariffs in a bid to address disparities in the current billing system as well as encourage investment in the power sector. The Minister of Power, Adebayo Adelabu, made this known at the ongoing public presentation of the National Integrated Electricity Policy and Nigeria Integrated Resource Plan […]
The Secretary-General of the Organization of the Petroleum Exporting Countries, Mr Haitham Al-Ghais has tasked Africa to unlock its proven oil y of over 120 billion barrels. Al-Ghais, made this known while delivering a keynote address titled “Driving Cross-Continental Investments: Scaling Africa’s Energy Frontier”, at the ongoing Nigeria International Energy Summit 2025 in Abuja, Nigeria […]
Ogun State, Nigeria’s top investment destination, is set to reap huge benefits as the world’s largest protein producer, JBS of Brazil, has indicated interest in investing $2.5 billion in the livestock subsector of the economy. Controlling Shareholder of the company, Wesley Batista, said this when officials of his firm, led by the Controlling Shareholder of […]
Nigeria’s central bank CBN is expected to hold interest rates steady at 27.5% on Thursday, pausing its aggressive tightening cycle following a sharp decline in inflation, driven by a revision in data calculation methods. A Bloomberg poll of nine economists found that seven anticipate the Central Bank of Nigeria (CBN) will maintain the current rate […]
The National Bureau of Statistics (NBS) has announced a decline in Nigeria’s headline inflation rate to 24.48% for January 2025, following the rebasing of the Consumer Price Index (CPI). This marks a decrease from December 2024’s 34.80% under the old inflation template. The CPI rebasing reflects updated consumer spending patterns, replacing outdated goods and services […]
Airtel Nigeria, the country’s second-largest telecommunications operator (Telco) has announced a significant adjustment to its data pricing structure. A check by the News Agency of Nigeria (NAN) using the *312# code and on the Airtel website showed the revised data prices. According to the telco’s website, the revision, which affects various data bundles, is aimed […]
