The Central Bank of Nigeria (CBN) has lifted the forex ban on 43 items and also promised to intervene in the FX market from “time to time”. The apex bank had in 2015 restricted the items from accessing FX from the I&E window, saying they were “not valid for foreign exchange and could be […]
There are growing concerns over the rising price of cooking gas as a kilogramme is now sold for between N1,000 and N1,200 in parts of the country, checks by Daily Trust have shown. There are also fears that the price may rise further owing to the scarcity of the product, which marketers are attributing […]
The Federal Government earlier this week announced that it had issued licences to 17 Independent Electricity Distribution Network operators, among which 11 are currently operational. The PUNCH reported that this was disclosed by the FG in the 2022 Market Competition Report released on Tuesday by the Nigeria Electricity Regulatory Commission, an agency of the […]
The Nigerian National Petroleum Company (NNPC) Limited has refuted claims that it plans to increase its pump prices. The company’s management, in a statement shared Friday on X, said this was contrary to speculation. “Dear esteemed customers, we at NNPC Retail value your patronage, and we do not have the intention to increase our […]
BUA Cement PLC on Sunday announced the reduction of the price of its cement product to N3,500 per bag starting from Monday, October 2, 2023. It said the price reduction was in line with its commitment to spur development in the “building materials and infrastructural sectors”. The company announced the price reduction in a […]
The naira, on Monday, appreciated at the parallel market to trade at N993 per dollar. The figure signifies an appreciation of N2 or 0.20 percent from the N995 it traded last Friday. Bureaux De Change operators (BDCs) told TheCable that demand for the greenback had declined in the street market. The traders put the […]
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says it will sanction fuel stations operators who alters petroleum pumps. Mr Farouk Ahmed, NMDPRA Chief Executive, said this during an interactive session with commissioners of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) on Friday in Abuja. Ahmed said that petrol stations caught dispensing […]
Dr. Olayemi Michael Cardoso who was recently nominated by President Bola Ahmed Tinubu for the position of the Governor of the Central Bank of Nigeria (CBN) on Friday formally assumed duty, in an acting capacity. He is to act as the CBN Governor pending his confirmation by the Senate. According to a statement, the […]
The acting Comptroller-General of the Nigeria Customs Service, Adewale Adeniyi, on Tuesday, announced that Nigerian importers would soon be able to clear their goods from the ports in Cotonou, Benin Republic. He disclosed this in Abuja at the end of a two-day working visit by the director-general and senior officials of the customs service […]
Oil price, on Friday, edged up to over $9o a barrel for the first time since November 2022. Brent crude, the global oil benchmark, increased by 1.69 percent to $92.23 a barrel, while US West Texas Intermediate jumped 2.02 percent to $89.05 a barrel at 16.46 WAT. Last week, Brent reached $89 a barrel […]
