economic policy
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Nigeria CBN Adjusts Import Duty FX Rate to N1,457/$ Amid Naira Depreciation
Amidst Naira's depreciation to N1,515/$, the Central Bank of Nigeria increases the import duty exchange rate to N1,457/$. This 3% hike poses challenges for importers, with the former Shippers Association president criticizing the instability. Analysts foresee continued Naira depreciation unless... -
Nigeria Nigerians Surprised As Dangote Labels Naira Devaluation Biggest Mess of 2023
During the Annual General Meeting of Dangote Sugar Refinery Plc, Aliko Dangote vehemently criticized the decision to float the naira, branding it as the most detrimental event of 2023. The abrupt devaluation of the naira, plummeting from N460 to N1,400 against the US dollar, wreaked havoc... -
Nigeria Suffering and Not Smiling: Nigerians Looking for Answers As IMF Confirm The Secret Return of Oil Subsidies
In a surprising turn of events, the International Monetary Fund (IMF) has confirmed that the Nigerian government, under President Bola Tinubu's administration, has quietly resumed the payment of subsidies on petrol, also known as premium motor spirit (PMS). This revelation comes just months...
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