Nigeria is projected to slip to the fourth largest economy in Africa in 2024, behind South Africa, Egypt, and Algeria, according to IMF forecasts for April 2024. Nigeria which has held the... Read more »

The 650,000 barrels per day Dangote Petroleum Refinery has been able to ramp up production leveraging on cheaper crude imports from the United States, a report has said. The report by Bloomberg... Read more »

The naira recorded N81.34 depreciation against the US dollar in a single day at the foreign exchange market. FMDQ data showed that the naira tumbled to N1,154.08 per dollar on Thursday from N1,072.74 on... Read more »

The National Bureau of Statistics (NBS) has said that the average retail price of a litre of diesel increased from N840.81 in March 2023 to N1341.16 in March 2024. NBS stated this... Read more »

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 »

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 »

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 »

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 »

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 »