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![Today's Naira Rate [31-01-2025]: CBN Interventions Boost Naira as Exchange Rate Improves to N1,493/$](/data/attachments/212/212954-58e780ec025feefde8bfa331a3d70815.jpg?hash=PERHMQHP25)
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Mele Kyari, the Group Managing Director of the Nigerian National Petroleum Corporation Limited (NNPCL), asserted that everyone is implicated in crude oil theft within Nigeria.
Speaking during an oversight function with the House of Representatives Special Committee on Oil Theft, Kyari revealed...
President Bola Tinubu has recently approved the appointment of Dr. Dayo Mobereola as the Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA). This decision follows the conclusion of Mr. Bashir Jamoh's tenure, and Dr. Mobereola's mandate includes upholding...
The European Union and Economic Community of West African States (ECOWAS) delegation to Nigeria has criticized the country's Value Added Tax (VAT) system, stating that it falls below the ideal standard. Massimo De Luca, the Head of Cooperation of the EU and ECOWAS Delegation, highlighted the...
Nigeria
Consumers Brace for Impact as Nigerian Breweries Responds to Economic Pressures with Second Price Hike in Two Months
Nigerian Breweries Plc has announced another round of price increases for its products, marking the second adjustment in just two months. The company, in a review notification distributed to customers in the South-West zone, revealed that the new prices would come into effect from March 15...
The naira exhibited resilience as it appreciated to N1,600 per dollar at the parallel section of the foreign exchange (FX) market on Monday.
This marked a notable 1.23 percent gain from the N1,620/$ reported just a day earlier on March 8. Bureau De Change operators in Lagos quoted buying rates...
Nigeria
Economic Challenges Loom as EIU Forecasts Naira to Plummet Below N2,000 per Dollar by Year-End
In a recent report released by the Economist Intelligence Unit (EIU) in March 2024, the economic future of Nigeria is painted with uncertainties as the country faces five critical risks that could jeopardize peace, economic progress, and overall development in the coming months.
The EIU report...
Bitcoin reached a new all-time high, surging past $71,000 on Monday, driven by increasing demand for the cryptocurrency. The rally is fueled by optimism regarding potential interest rate cuts by the Federal Reserve later this year. According to Bloomberg data, Bitcoin hit its peak at $71,432...
Goldman Sachs anticipates strengthening of the Nigerian naira against the US dollar over the next twelve months, projecting an exchange rate of 1200 in the short term. The New York-based investment bank attributes this positive outlook to recent policy reforms aimed at supporting the currency's...
MTN Nigeria's Chief Financial Officer, Mr. Modupe Kadri, revealed in an exclusive interview with Nairametrics that the company invested over $120 million in expanding 5G coverage in the last two years. These investments boosted 5G coverage from 3% in 2022 to 11% in 2023, with plans for further...
The Nigerian Naira fell to N1,620 against the US Dollar at the parallel market, marking a N20 decrease from the start of March.
Bureau de Change operators quoted buying at N1,600 and selling at N1,620. The official exchange rate saw the Naira dip to N1,627.40 against the Dollar, a 1.57% fall...
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