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Article 'Dangote Refinery Ships Petrol to Cameroon, Ghana, South Africa, and Angola'- Nigeria News
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Article 'Shocking NBS Report: Nigerians Spent Over N2 Trillion on Kidnapping Ransoms in 12 Months'- Nigeria News
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Article 'Dangote Cuts PMS Price to N899.50 per Litre, Introduces Special Holiday Offer'- Nigeria News
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NNPCL has reduced petrol prices to ₦899 per litre, aligning with Dangote Refinery's recent price cut. This move, reflecting the impact of deregulation in Nigeria's fuel sector, is expected to foster competition and lower prices further, benefiting consumers. Price reductions continue to be...
Dangote Refinery has partnered with MRS to sell petrol at ₦935 per litre nationwide. This price reduction follows the Nigerian National Petroleum Company’s recent price cuts, reflecting the positive impact of the naira-for-crude swap deal on the Nigerian economy. The initiative aims to provide...
NNPC has denied reports claiming the Old Port Harcourt refinery has shut down. The refinery, which resumed operations in November 2024, is running at 70% capacity, producing kerosene, diesel, LPFO, and petrol. NNPC urges the public to ignore false claims and emphasizes efforts to ensure a steady...
![Today's Naira Rate [21-12-2024]: Naira Weakens to N1,775 on Parallel Market Amid Forex Challenges](/data/attachments/211/211635-7bc2edcd76b77152035dcdd2d60b7d74.jpg?hash=PERHMQHP25)
Nigeria
Today's Naira Rate [21-12-2024]: Naira Weakens to N1,775 on Parallel Market Amid Forex Challenges
The naira weakened against the dollar, closing at N1,541.68 in the official market and N1,775 in the parallel market. Despite weeklong volatility, the currency saw some gains. President Tinubu’s 2025 exchange rate benchmark of N1,500 per dollar hints at efforts to stabilize Nigeria’s economy...
The Port Harcourt Refinery has halted operations just weeks after a $1.5 billion rehabilitation. Petrol lifting stopped, and loading bays remained empty, raising concerns about the refinery's output. Critics accuse the government of staging a public show, while production of diesel and kerosene...
The Central Bank of Nigeria has introduced a new policy setting daily cash-out limits for PoS operators at N100,000 per customer, aiming to promote digital payments, reduce fraud, and enhance operational efficiency. The initiative also includes weekly withdrawal caps and enhanced monitoring...
The Central Bank of Nigeria (CBN) has granted Bureau De Change (BDC) operators temporary access to purchase $25,000 weekly from banks to meet increased foreign exchange demand during the yuletide period, from December 19, 2024, to January 30, 2025. This aims to stabilize the retail market and...
Forbes’ inaugural list of the 50 Wealthiest Black Americans for 2024 features three Nigerians: Wemimo Abbey, Tope Awotona, and Adebayo Ogunlesi. Recognized for their innovative contributions in fintech, tech, and infrastructure, these industry leaders stand out for their impact beyond financial...
![Today's Naira Rate [20-12-2024]: Naira Strengthens to N1,540 with Support from Diaspora and CBN Policies](/data/attachments/211/211612-69b6f5ae7bef1c4982940c2a5eefc526.jpg?hash=PERHMQHP25)
Nigeria
Today's Naira Rate [20-12-2024]: Naira Strengthens to N1,540 with Support from Diaspora and CBN Policies
The naira has stabilized at N1,540 in the official market, supported by diaspora remittances, Eurobond proceeds, and the Central Bank of Nigeria’s (CBN) EFEMS system. These factors have improved liquidity and market confidence, with external reserves standing at $40.73 billion, enhancing the...
PoS operators in Nigeria have increased withdrawal charges due to the N50 electronic money transfer levy imposed by the Central Bank of Nigeria (CBN) and cash shortages. The hike, caused by rising operational costs, affects transactions and has led to higher fees for customers, especially during...
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