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Article 'CBN: Dangote Refinery to Lower Transportation Costs and Food Inflation'- Nigeria News
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Article 'CBN’s 27.25% Interest Rate Hike: How It Affects Inflation, SMEs, and the Naira'- Nigeria News
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![Today's Naira Rate[25-09-2024]: Naira Depreciates to N1,658.48 as CBN Raises Interest Rates for Fifth Time in 2024](/data/attachments/208/208624-4803cd99f027345ad0bd4f909c6fbdcc.jpg?hash=PERHMQHP25)
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Jumia is closing operations in South Africa and Tunisia to concentrate on profitable markets, especially Nigeria. CEO Francis Dufay states this shift will help the company streamline costs and strengthen its core e-commerce offerings across regions with greater growth potential, like Egypt...
Aliko Dangote, the president of the Dangote Group, has reached a significant milestone, now ranking as the 65th richest person globally, with a net worth of $28 billion. This achievement follows the successful launch of his expansive Petrochemical refinery, which has proven to be a game changer...
![Today's Naira Rate[17-10-2024]:Naira Depreciates Further to ₦1,705 Against the Dollar in Black Market](/data/attachments/209/209264-75239364762d3e0f4a7e85481c4aa046.jpg?hash=PERHMQHP25)
Nigeria
Today's Naira Rate[17-10-2024]:Naira Depreciates Further to ₦1,705 Against the Dollar in Black Market
The naira’s value has dropped to ₦1,705 per dollar in the parallel market, reflecting a continued decline due to high demand for U.S. dollars and limited foreign exchange inflows. This latest depreciation highlights the naira's vulnerability amidst Nigeria’s foreign exchange challenges.
The...
Deji Adeleke, the father of Nigerian artist Davido, revealed that his company, Pacific Energy, generates 15% of Nigeria’s electricity. During the Seventh-Day Adventist Church's General Conference, he announced plans for Nigeria's largest thermal power plant, set to launch in January 2025, with a...
Finance Minister Wale Edun acknowledged the pain of recent economic reforms in Nigeria but emphasized their necessity for growth. Key changes include subsidy removal and foreign exchange market unification, resulting in doubled revenue. Initiatives such as the Nigeria Education Loan Fund aim to...
Following GTBank’s system upgrade, Lagos customers have faced challenges accessing accounts and completing transactions. Despite assurances, customers report ongoing issues with digital banking and ATM services. The bank extended branch hours and apologized for the inconvenience, ensuring that...
Adedeji Adeleke, the father of music star Davido, shared his experience securing a $2 billion environmental permit for Nigeria’s largest power plant. Facing obstacles from uncooperative officials, he turned to prayer and strategic partnerships, ultimately gaining approval for the 1,250-megawatt...
The Nigerian Naira ranks among sub-Saharan Africa's weakest currencies, alongside the Ethiopian Birr and South Sudanese Pound, depreciating by 43% by August 2024. The World Bank attributes this to high dollar demand, limited inflows, and rising inflation, with Nigeria’s economic growth...
Nigeria's inflation surged to 32.70% in September 2024, influenced by a rise in fuel prices, with food inflation also increasing to 37.77%. The National Bureau of Statistics reported a 0.55% month-on-month rise, prompting the Central Bank to raise interest rates to 27.25% to combat inflation...
The Nigerian National Petroleum Company (NNPC) will sell petrol to the Independent Petroleum Marketers Association of Nigeria (IPMAN) at N995 per litre. This agreement, facilitated by the Department of State Services, aims to resolve pricing disputes and reduce fuel costs, addressing ongoing...
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