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CBN not using foreign reserves to defend Naira — Cardoso

The Governor of the Central Bank of Nigeria (CBN) Mr. Olayemi Cardoso, said yesterday that the apex bank is not defending the Naira with the nation’s foreign reserves. He was speaking against... Read more »
Gabriel Ogbechie

FG Now Pays About ₦‎600 Billion Monthly For Fuel Subsidy – Rainoil CEO

Industry key player and CEO of Rainoil Limited, Gabriel Ogbechie, has claimed that the federal government has resumed the payment of the controversial fuel subsidy following the devaluation of the Naira in... Read more »
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Dangote crashes diesel to N1,000 per litre

Dangote Petroleum Refinery has announced a further reduction of the price of diesel from 1200 to 1,000 naira per litre. While rolling out the products, the refinery supplied at a substantially reduced... Read more »
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Naira strengthened against major currencies

The local currency exchanged at below N1000 at some segments of the parallel market as of late Sunday. Former presidential aide on digital communications, Bashir Ahmad, took to X to celebrate this,... Read more »
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Naira makes significant gain against dollar

The naira makes as much as 7.16 per cent gain against the dollar at the official market on Friday. The naira on Friday experienced huge appreciation at the official market, trading at... Read more »
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Naira jumps to 8-month high of 1,120/$ as dollars flood black market

The Naira on Thursday rose to an eight-month high of 1,120 per dollar on the parallel market, popularly called black market, driven by a series of foreign exchange (FX) reforms of the... Read more »
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Lower Fuel Costs From Refinery To Rapidly Reduce Inflation – Dangote

Billionaire industrialist Aliko Dangote has said his refinery’s ability to sell diesel at significantly discounted prices will provide immediate relief to Nigeria’s inflation woes.He disclosed this to newsmen on Wednesday after visiting... Read more »
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Value Of Naira Strengthens To N1,210/$1 at Parallel Market

This is surely not the best of times for currency speculators, as their bets on the Naira against the Dollar are getting their fingers burned too fast, and they seem helpless at... Read more »
Litre-Diesel

Dealers Demand ₦850/Litre Diesel As Dangote, Marketers Meet

Oil marketers have called for a downward review in the pump price of the Automotive Gas Oil, popularly called diesel, being produced by the Dangote Petroleum Refinery to between N700 and N850/litre,... Read more »
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Dollar To Naira Exchange Rate Today

Naira may be on course to regain N1000/$ (an exchange rate though implausible as early as a month ago) in the near time if the current bullish outlook of the market is... Read more »