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Article 'Despite Price Hike, Nigeria Remains 13th in the World for Low Petrol Costs'- Nigeria News
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Article 'Nigerian Government Commits to Long-Term Naira-for-Crude Policy with Dangote Refinery'- Nigeria News
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Nigeria’s Economic Management Team (EMT) is reviewing the impact of the 14% U.S. tariff on Nigerian exports. Finance Minister Wale Edun emphasized that oil and mineral exports are exempt from the tariff. The government is also focusing on ramping up oil production and enhancing corporate...
Nigeria's economy faces rising risks from Trump’s tariffs and global economic downturns, with oil price drops and stock market slumps exacerbating the situation. Experts recommend diversification, strategic trade agreements, and policy adjustments to mitigate the damage to the naira and national...
Several African nations, including Tunisia, Libya, and Morocco, boast stronger currencies than Nigeria's Naira. The strength of these currencies is attributed to robust exports, sound fiscal management, and diversified economies. In contrast, Nigeria’s currency struggles with inflation and...
Dangote Industries is committed to making Nigeria self-sufficient in cement, petroleum, agriculture, and mining. The company’s investments, including Dangote Cement, Dangote Sugar, and Dangote Fertilizer, have created jobs, boosted local economies, and strengthened Nigeria's industrial capacity...
The Central Bank of Nigeria sold $197.71 million to banks to protect the FX market from the fallout of new U.S. tariffs and falling oil prices. The move aims to stabilize the naira and maintain liquidity amid global market adjustments. The CBN pledges continued vigilance and market support.
The...
Nyesom Wike, FCT Minister, appoints Monica Dongban-Mensem, President of the Court of Appeal, as Chairman of the IBB Golf Club Board of Trustees. Wike emphasizes the FCTA’s ownership of the club and urges the board to revitalize the prestigious facility, ensuring its recovery from recent crises...
Nigeria’s public debt reached N144.67 trillion ($94.23 billion) by the end of December 2024, marking a 48.58% increase from the previous year. The surge was largely driven by increased domestic borrowing to fund budget deficits and infrastructure projects, while debt at the state level saw a...
NNPC has appointed a new senior management team, led by Bayo Ojulari as GCEO. The team will focus on enhancing crude oil and gas production, with a goal to reach 200,000 barrels per day in refining by 2027 and boost production to 2 million barrels per day by 2027.
The Nigerian National...
![Today's Naira Rate [04-04-2025]: Naira Hits New Low, Official Exchange Rate Plummets to N1,600 per Dollar](/data/attachments/215/215127-da621b1781c7fb8e0597b4f7c3e7f9c2.jpg?hash=PERHMQHP25)
Nigeria
Today's Naira Rate [04-04-2025]: Naira Hits New Low, Official Exchange Rate Plummets to N1,600 per Dollar
The Naira has depreciated to N1,600 per dollar in the Nigerian Foreign Exchange Market, marking a N31 drop from the previous day. The widening gap between official and parallel market rates has raised concerns about inflation, foreign exchange reserves, and the broader Nigerian economy, with...
Oil prices fell sharply to $65 per barrel, the lowest since April 2021, due to escalating trade tensions and new tariffs imposed by China on U.S. goods. This drop coincided with OPEC's decision to increase oil output by 411,000 barrels per day, impacting global markets and Nigeria’s budget.
Oil...
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