adminFG okays $3.45bn W’Bank loan application for power, others
The Federal Executive Council on Monday approved the application for a $3.45bn loan to finance five items. They include projects in the power sector, renewable energy, states’ resource mobilisation…
Nigeria’s economy on “warning” status – Report
SBM Intelligence, a leading research and risk consultancy firm in Nigeria, has stated that Nigeria’s economy is on ‘warning’ status as it ranked 60% in the “Economy” macro-risk indicator.…
Fuel Queues: NNPC Cautions Against Panic Buying, Confirms 30-Day Sufficiency
The Nigerian National Petroleum Company (NNPC) Limited says it has noted the appearance of fuel queues in some parts of Lagos and a few other locations around the country.…
Naira records 9% depreciation, trades N848/$ at I&E window
The naira, on Tuesday, fell to N848 at the investors’ and exporters’ (I&E) window — the country’s official trading window. The local currency fell by 8.9 percent from the…
FG projects N26trn for 2024 budget
The Federal Government is projecting a sum of N26 trillion as the estimate for the 2024 appropriation budget, with the intention of submitting the proposal to the National Assembly…
Nigeria inflation climbs to 26.72%
Nigeria’s inflation rate has climbed to 26.72 per cent, marking a 0.92 per cent increase from the previous month’s 25.80 per cent. The National Bureau of Statistics disclosed this…
Fuel Scarcity Looms In Lagos, Abuja, Others As Marketers Shut Filling Stations
In a report by Journalist101, only Nigerian National Petroleum Corporation (NNPC) stations were noticeably opened in parts of Lagos and Abuja during the weekend, raising concerns that petrol scarcity…
Why Forex restrictions on 43 items was lifted — CBN
The Central Bank of Nigeria (CBN) has stated that the restriction on forex for 43 import items led importers to resort to the parallel market, contributing to a surplus…
NUPRC grants first post-PIA petroleum exploration licence
The Nigerian Upstream Petroleum Commission (NUPRC) says it has granted a petroleum exploration licence (PEL) to TGS-PetroData Offshore Services Limited (TGS-PD). The commission, in a statement on Thursday, said…
FULL LIST: CBN lifts FX ban on 43 items
The Central Bank of Nigeria (CBN), on Thursday, announced the lifting of the ban on 43 items previously restricted from accessing foreign exchange (forex) from the investor’s and exporters’…
CBN Lifts Forex Ban On 43 Items, To Intervene In FX Market
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…
Oil production hits 1.35million barrels/day, highest in 2023
Nigeria’s crude oil output rose to an all-time high of 1.35 million barrels per day in September 2023, as the country pumped its highest volume of crude oil so…
LOOMING FUEL SCARCITY: Queues return
Seven oil marketers, who imported Premium Motor Spirit, popularly called petrol, about a month ago, have stopped bringing in the commodity into the market, leading to pockets of scarcity…
DMO offers N150bn Sukuk bond for subscription at N1,000 per unit
The Debt Management Office (DMO) on Tuesday offered for subscription, Ijarah Sukuk valued at N150 billion. According to a statement by the DMO, the Sukuk is issued by Federal…
Only 40m Nigerians pay taxes – FG
The Chairman, Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Mohammed Bello Shehu, has said that out of 200 million Nigerians, only 40 million pay tax. Speaking with Daily Sun,…
