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![Today's Naira Rate[16-11-2024]: Nigerian Naira Faces Steep Decline, Parallel Market Hits N1,750/$](/data/attachments/210/210283-5e995ef978efd380c57591c54b3dddf2.jpg?hash=FHqxQvjPSE)
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The financial landscape of Nigeria presents a tale of contrasts. Recent reports highlight the top tier-one banks in Nigeria amassing a combined gross earning of N4.2 trillion in the first half of 2023. These figures, as reported by The Guardian Nigeria, are undeniably impressive, showcasing the...
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From Oil Rigs to Households: NNPC's Contract Revamp Promises to Benefit Every Nigerian's Pocket
NNPC Ltd, Nigeria's state oil firm, and leading oil companies have decided to streamline their contract discussions in a move that resonates with the aspirations of every Nigerian. According to Reuters, the negotiation period is set to be reduced from three years to just six months. This...
Nigeria's public debt has reached new heights, with each citizen now carrying a substantial debt burden of approximately N396,376.19, according to recent data from the National Bureau of Statistics (NBS). The figures, released by the NBS, underscore the alarming rise in the country's public...
The Cement Producers Association of Nigeria has expressed concern that the federal government's plan to introduce concrete roads may lead to a significant increase in cement prices, potentially reaching N9,000 per bag, up from the current N5,000. In a joint statement by the National Chairman...
Ethiopian Airlines Group is keenly awaiting approval from Nigeria's new administration to advance its partnership with Nigerian Air. As reported by The Reporter Ethiopia, the airline group had successfully secured a bid last year, agreeing to acquire a 49 per cent stake in Nigerian Air, the...
Nigeria's Finance Minister, Wale Edun, has underscored the critical importance of stabilising the naira before contemplating the termination of oil subsidies. In a recent dialogue with The Africa Report, Edun conveyed his mission to reassure global investors about Nigeria's unwavering commitment...
The World Bank has given the green light for a new $700 million loan to support the Adolescent Girls Initiative for Learning and Empowerment program in Nigeria. This initiative aims to enhance secondary education prospects for girls in targeted states.
With the additional financing, the project...
Nigeria has successfully garnered $13 billion in investment commitments within its oil and gas sector, with major international energy giants such as ExxonMobil, Shell, and TotalEnergies pledging their support, revealed Olu Verheijen, Special Adviser on Energy to Nigeria's President Bola Tinubu...
The foreign exchange crisis in Nigeria has deepened as the Nigerian naira surpassed the grim milestone of N1,000 to the US dollar in the parallel market, according to Daily Trust. A survey of popular black markets in Lagos showed that the dollar traded between N1,000 and N1,050 during the early...
Former employees of Honeywell Flour Mills (HFM) Plc staged a peaceful protest against Flour Mills of Nigeria (FMN) Plc's decision to deduct gratuity from their severance packages. The demonstration occurred at HFM's Tincan office, where more than 25 ex-workers held placards reading, "Our...
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