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The rhythm of Nigeria's business world
HerRyde, a women-only ride-hailing app in Nigeria, has temporarily suspended operations after a successful year-long trial in Abuja, aiming to improve its system and secure additional funding for future expansion. The app empowered women drivers and prioritized passenger safety.
In Nigeria's...
![Today's Naira Rate [14-05-2024]: Naira Depreciates to N1,520.40 Against USD, Amid Forex Shortage](/data/attachments/203/203959-8457c57119a478bc5717b11aa4a694ef.jpg)
Nigeria
Today's Naira Rate [14-05-2024]: Naira Depreciates to N1,520.40 Against USD, Amid Forex Shortage
The Nigerian Naira depreciates to a two-month low against the US dollar, hitting N1,520.40 at the official foreign exchange market. With a shortage of dollars affecting the market, the currency faces challenges, reflecting economic complexities. Analysts attribute the downturn to various...
Nigeria's inflation rate surges to 33.69% in April, up from 33.20% in March, exacerbating economic hardship as the cost of living soars.
Nigeria's economic woes have deepened as the country's inflation rate surged to a staggering 33.69% in April, up from 33.20% in March, according to the latest...
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...
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...
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