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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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The Nigerian National Petroleum Company Limited (NNPCL) attributes the recent petrol price hike to foreign exchange rates and market forces, raising prices to N855-N897 per liter. NNPCL's Adedapo Segun assures the scarcity will ease soon. Labor unions demand a reversal, condemning the impact on...
Dangote Group has clarified that NNPC has not yet lifted petrol from its refinery, disputing claims made in a recent article. The company emphasized that no contracts have been finalized and reiterated that petrol pricing is regulated by government authorities, assuring the public of the high...
Dangote Refinery's new transparent petrol, unlike the traditional yellow, features a high ethanol content. This enhances engine efficiency, extends longevity, and reduces carbon monoxide emissions. Learn about the benefits of this clear fuel, its environmental impact, and how it compares to U.S...
The recent hike in petrol prices in Nigeria has led to over a 50% increase in transport fares nationwide. Commuters are struggling to afford transportation, prompting protests from students and unions demanding a reversal of the price hike. The economic impact is expected to exacerbate inflation...
![Today's Naira Rate[04-09-2024]: Rising Inflation Looms as Naira Trades at Six-Month Low of N1,625.88/$1](/data/attachments/207/207981-14653f6b81669f690c028af5c37d80bb.jpg?hash=PERHMQHP25)
Nigeria
Today's Naira Rate[04-09-2024]: Rising Inflation Looms as Naira Trades at Six-Month Low of N1,625.88/$1
Nigeria's exchange rate fell to a six-month low of N1,625.88 per dollar on August 4, 2024, indicating ongoing economic challenges. The naira's depreciation coincided with rising petrol prices, contributing to inflation and tightening liquidity in the foreign exchange market, which saw a...
Nigeria
NEC Meeting: Bill Gates and Aliko Dangote Join VP Shettima, Nigerian Governors for Key Discussions
Bill Gates and Aliko Dangote attended the National Economic Council (NEC) meeting in Abuja. The meeting, led by Vice President Kashim Shettima, focused on economic and public health issues, including the polio eradication efforts in Nigeria. Their participation highlights the collaboration...
Nigeria has become the third-largest borrower from the World Bank's International Development Association, with loans rising to $16.5 billion as of June 2024. This increase raises concerns about the country's debt management strategies as it surpasses other nations in borrowing.
As of June 30...
The Manufacturers Association of Nigeria warns that the recent petrol price hike from ₦568 to ₦855 per litre may lead to rising inflation, increasing costs for transportation and goods. This could particularly impact small and medium-sized enterprises, reducing consumer demand and threatening...
Femi Otedola praises Aliko Dangote for starting petrol production at the Dangote Refinery. Otedola describes this achievement as a landmark moment for Nigeria’s energy sector, ending decades of dependence on foreign fuel. The refinery, set to supply 25 million liters daily, symbolizes a...
Aliko Dangote's refinery has launched its first Premium Motor Spirit (PMS), promising fuel quality on par with global standards. This development aims to stabilize Nigeria's economy by reducing reliance on imports, saving foreign exchange, and alleviating fuel shortages amid ongoing financial...
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