Business

The rhythm of Nigeria's business world
Amidst efforts to stabilize the Nigerian economy, the Nigeria Customs Service (NCS) has made a significant adjustment in the foreign exchange (FX) rate for duties, setting it at N1,147.02 per dollar. This marks a notable decrease of 7.3 percent compared to the previous rate of N1,238.1/$...
Nigeria News
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The Federal Government of Nigeria, under the auspices of the Federal Ministry of Industry, Trade, and Investment, is introducing two initiatives aimed at mitigating the impact of the fuel subsidy removal: the Presidential Conditional Grant Programme and the Presidential Palliative Loan...
As Africa's economic landscape undergoes a significant shift, Nigeria, once the continent's largest economy, is poised to slip to fourth place this year, according to projections from the International Monetary Fund (IMF). In a surprising turn, Egypt, which briefly held the top position in 2023...
Oil prices surged by nearly 4 percent following reports of Israel launching missile attacks on targets in Iran. International media outlets reported explosions in Isfahan province, central Iran, heightening tensions in the region. Israel's actions were seen as a response to missile and drone...
The management of Landmark Beach Resort has come forward with a significant revelation regarding the original route designated for the Lagos-Calabar Coastal Highway. According to Ms. Elsie Ogianyo, the Brand and Corporate Communications head at Landmark Africa, the 1.5km stretch through the...
The Association of Bureau De Change Operators of Nigeria (ABCON) has revealed that BDC operators are now purchasing dollars at the rate of N980 to a dollar, marking a significant appreciation of the naira. This revelation was disclosed by the President of ABCON, Aminu Gwadebe, during a recent...
In a bid to address growing concerns over Nigeria's foreign reserves and the performance of the Naira, Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN), offered insights during the ongoing Spring Meetings of the International Monetary Fund (IMF) and the World Bank. Cardoso...
The current Naira-Dollar exchange rate has sparked mixed reactions among Nigerians. Some express surprise at the apparent stability, while others recall past fluctuations. Amidst the discussion, there's speculation about recent trends, with comments on both upward and downward movements...
The Dangote refinery has announced a significant reduction in the price of automotive gas oil (diesel), dropping it from N1,200 to N1,000 per litre. This move, described as unprecedented by the refinery, follows its recent supply of diesel at a reduced price of N1,200 per litre three weeks ago...
The Port Harcourt Refining Company Limited (PHRC) remains dormant despite assurances from authorities that it would commence operations approximately two weeks ago. Citizens, anticipating relief from the energy crisis, were disappointed by the delay in the refinery's activation. Stakeholders...
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