The Central Bank of Nigeria (CBN) governor Yemi Cardoso says the apex bank’s FX reforms have made the naira the best-performing currency globally. Nigeria’s currency lost massively against major currencies in the... Read more »

The Economic and Financial Crimes Commission has instituted a further crackdown on currency speculators and cryptocurrency platforms manipulating the naira. Impeccable sources within the commission said the EFCC was not only going... Read more »

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 »

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 »

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 »

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 »

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 »

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 »

The Lagos State Government has mandated supermarkets and grocery stores throughout the state to display price tags on all products, warning that failure to comply may result in the sealing of non-compliant... Read more »

The Nigerian Electricity Regulatory Commission (NERC) on Wednesday approved an increase in electricity tariff for Band A customers.Band A customers are those that enjoy 20-24 hour electricity supply per day . Here’s... Read more »

The naira gained at the official market, trading at N1,278.58 to a dollar on Tuesday. Data from the official trading platform of the FMDQ revealed that the naira gained N30.81 or 2.35... Read more »