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The rhythm of Nigeria's business world
ABCON official highlights inadequate CBN forex allocation as the main driver of Naira depreciation, refuting claims of BDC involvement. Learn about the challenges faced by operators and the broader economic implications of the currency's decline.
A senior official from the Association of Bureau...
Bua Cement Plc secures approval from the Federal Executive Council to fund critical road infrastructure projects, including the Lokoja-Benin road, under the tax credit scheme. Valued at N120 billion, this initiative aims to enhance transportation networks and stimulate economic growth, signaling...
Nigeria
Nigeria's Most Expensive University? Late Herbert Wigwe's Institution Eyes N12m School Fees in August
Wigwe University introduces unprecedented course fees and luxury accommodation options, including a premium plan priced at N1 million monthly. Discover the institution's academic programs spanning four colleges and delve into the economic impact of its establishment in Isiokpo, Rivers State, set...
OpenAI has unveiled ChatGPT-4o, a breakthrough AI model capable of handling text, speech, and video in real time, delivering lightning-fast performance and enhanced intelligence across multiple modalities.
OpenAI has unveiled ChatGPT-4o, a revolutionary AI model that takes the capabilities of...
Amidst Naira's depreciation to N1,515/$, the Central Bank of Nigeria increases the import duty exchange rate to N1,457/$. This 3% hike poses challenges for importers, with the former Shippers Association president criticizing the instability. Analysts foresee continued Naira depreciation unless...
![Today's Naira Rate [13-05-2024]: Nigerian Naira Weakens to 1,515/$ Despite Marginal Reserve Growth, Concerns Linger](/data/attachments/203/203891-bd899ca0c24b3b3c73ca8044710ce26b.jpg)
Nigeria
Today's Naira Rate [13-05-2024]: Nigerian Naira Weakens to 1,515/$ Despite Marginal Reserve Growth, Concerns Linger
Naira weakens to 1,515/$ despite marginal external reserves growth. Continuing its decline against the US dollar, the Nigerian currency faces challenges amidst market volatility. Analysts anticipate further depreciation without intervention
The Nigerian Naira continues its decline against the...
Nigeria
N140K for a Small Generator: Lagos Residents Struggle as Tiny Generators Become Luxury Items
Tiny generators in Lagos, Nigeria, have seen a 40% price surge to N140,000, putting them out of reach for many. Once a modest status symbol, these generators are now a luxury item due to unreliable power supply and inflation. The surge highlights the challenges faced by Nigerians in affording...
NNPC E&P Ltd and NOSL mark a significant milestone with the commencement of oil production at OML 13 in Akwa Ibom. This achievement underscores Nigeria's drive for economic growth and energy self-sufficiency. The partnership aims to ramp up production to 40,000 barrels per day, promising...
![Today's Naira Rate [11-05-2024]: Naira's Downward Spiral: Hits Month-Low at N1470 Against Dollar](/data/attachments/203/203848-147ab142f8cf48479284e57b3d23fc38.jpg)
Nigeria
Today's Naira Rate [11-05-2024]: Naira's Downward Spiral: Hits Month-Low at N1470 Against Dollar
Amid evolving market dynamics, Nigeria's currency breached the N1,500 mark against the US dollar on the black market, highlighting fragile FX conditions. With the naira's downward trend from March, concerns rise over its ability to sustain gains without fiscal policy intervention. Analysts...
![Today's Naira Rate [10-05-2024]: Nigerian Naira Hits One-Month Low of 1,470 Against Dollar Amidst Economic Turbulence](/data/attachments/203/203812-8457c57119a478bc5717b11aa4a694ef.jpg)
Nigeria
Today's Naira Rate [10-05-2024]: Nigerian Naira Hits One-Month Low of 1,470 Against Dollar Amidst Economic Turbulence
Nigeria's naira plunges to a one-month low of 1,470 against the dollar on the black market. Discover the factors driving this decline, including dollar shortages and speculative trading, and explore expert insights on potential solutions to stabilize the currency amidst growing concerns.
The...
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