February 01
Nigeria: Facing Fx Crisis, Nigeria's Central Bank Lifts Exchange Rate Restrictions for Imtos
IMTOs are hereby allowed to quote exchange rates for naira payout to beneficiaries based on the prevailing market rates at the Nigerian Foreign Exchange Market on a willing seller,… Read more »
Nigeria: NSCDC Arrests Six Suspects for Illegal Dealing in Petroleum Product
NSCDC says the suspects disguised as a joint task force of a security agency and were found with a truck conveying about 45,000 litres of diesel to an unknown destination without… Read more »
Nigeria: Electricity Consumers Increase to 11.71m in Q3 2023 - NBS
The NBS review focuses on energy billed, revenue generated, and customers by DISCOS under the reviewed period. Read more »
Nigeria: Tinubu Orders AGF, EFCC, Others to Resolve $1.3 Billion Malabu Oil Deal Saga
An official said that parties involved in the deal were negotiating to end the more than 28 years crisis and litigation surrounding the prolific Malabu oil block located in… Read more »
January 31
Nigeria: Senate Panel Summons CBN Governor Over State of Economy
The committee asked the CBN Governor to appear before it on Tuesday next week. Read more »
Nigeria: Nigeria's Electricity Customers Rose to 11.7 Million in Q3 2023 - Report
"Total customer numbers in Q3 2023 stood at 11.71 million from 11.47 million in Q2 2023, showing an increase of 2.08 per cent," NBS said. Read more »
Nigeria: Sanwo-Olu in China, to Seal Deals On Lagos Rail Services
Mr Akosile noted that, while on the trip, the governor would also hold technical discussions on the DMUs for the Red Line and EMUs for the Blue Line between the Lagos Metropolitan… Read more »
January 30
Nigeria: CBN Clears Verified Fx Claims By Foreign Airlines
The latest payment brings the total amount disbursed to the aviation sector to $136.7 million, effectively settling all verified claims. Read more »
Nigeria: NNPC in Talks With South Korean Investors for Gas Projects
"The talks will pave the way for the execution of a Memorandum of Understanding (MoU) that will unlock strategic foreign direct investment...," the statement said. Read more »
January 31
Nigeria: Naira Hits All-Time Low At Forex Markets
Naira slipped to an all-time low at the official and unofficial markets on Tuesday to trade N1,482.57 and N1,491.00 respectively Read more »
January 30
Nigeria: Community Guidelines - Nigerian Govt to Revoke Mining Licences
"Any company that fails to sign their community development agreement stands the risk of having its licences revoked," Mr Alake said. Read more »
January 29
Nigeria: CBN Injects Additional $500m to Clear Fx Backlog
The CBN's focus is on addressing fundamental issues that have hindered the effective operation of the Nigerian FX markets over the years. Read more »
Nigeria: Dangote Refinery to Import U.S. Crude
Dangote Petroleum Refinery had earlier in the month commenced production of diesel and aviation fuel Read more »
Nigeria: Mining Sector - Govt, RMAFC to Deepen Collaboration On Revenue Leakages
Mr Alake restated the resolve of the government to sanitise the mining environment, ensure it contributes substantially to the nation's revenue, and ultimately make the sector… Read more »
Nigeria: High Costs of Drugs: Declaring a State of Emergency Before Many Die
The situation is more terrifying with major drug manufacturing companies folding up their operations in Nigeria as the environment for business becomes more difficult. Read more »
January 28
Nigeria: Data Story - What Figures Tell Us About Life Expectancy Across Nigeria
While the life expectancy for a man is estimated at 58.2 years in the South-west, it is 50.8 years in the North-east. Read more »
January 26
Nigeria: Lagos to Set Up Own Airline - Governor
What is being considered, the governor said, is the federal government's approval and operational contingency for the airline. Read more »
Nigeria: Yaba Hustlers - Lagos Market Where You Don't Need Shop, Goods to Become a Millionaire
In Yaba Market, hustlers are often relentless, as they earn their livelihood by convincing a shopper to go with them into a shop and make a purchase. Read more »
January 25
Nigeria: Atiku Asks Tinubu to Explain NNPC's $3.3bn Repayment Loan Deal
NNPCL had on 16 August 2023 said it would secure a $3.3 billion loan to give support to the Naira and stabilise the foreign exchange market Read more »
Nigeria: Sanwo-Olu Sets Date for Groundbreaking of 4th Mainland Bridge
To cushion the effect of the harsh economy on people, Mr Sanwo-Olu revealed that about N50 billion has been budgeted for distribution to support vulnerable residents and take them… Read more »
Nigeria: Ndume Faults Plan to Relocate CBN Departments, Faan Headquarters to Lagos
"This is one of the mistakes and I'm sure Mr President will reverse it because it doesn't work. You can't have two capitals," Mr Ndume said. Read more »
January 24
Nigeria: Presidency Explains Movement of FAAN, CBN Dept to Lagos, Refutes Plan to Move Nigeria's Capital
The status of Abuja as the Federal Capital has come to stay. It is backed by law. Read more »
Nigeria: Nigerian Stock Index Crosses Record 100,000 Points As Big Gains Continue
The index has returned 31.9 per cent since the start of the year. Read more »
Nigeria: American Businesses Eager to Invest in Nigeria but... - U.S. Secretary of State
"American entrepreneurs and American companies are eager to partner with and invest in Nigeria's economy, particularly in the tech sector...," he said. Read more »
January 23
Nigeria: Tinubu Meets Chevron Executives, Hails Company's Ongoing $1.4bn Drilling Project With NNPC
President Tinubu said the federal government's interventions in the oil and gas sector will safeguard and enhance the value of investments. Read more »