June 20, 2023
Nigeria: U.S., Nigeria Partner to Develop Energy Sector
An official said the move is a reflection of President Joe Biden and the U.S. government's commitment to partner with Nigeria. Read more »
Nigeria: Airtel Africa Expects Fresh Blow to Financial Performance Amid Nigeria's Forex Market Reforms
Airtel Africa, the continent's unit of New Delhi's telecommunications titan Bharti Airtel, is the biggest company in Nigeria by market value, currently worth N4.8 trillion ($7… Read more »
Niger: Naira Plunges to New Low On I&E Window
Naira plunged on the official market to trade at N770.38 per $1 on Monday Read more »
Nigeria: Economy 360 - Fashola, Dangote Refinery, and Nigeria's 'Pathetic' Free Trade Zones
" ... the reality isn't different in many other parts of the world where the free trade zones scheme has recorded success and aided economic development. Read more »
June 19, 2023
Nigeria: Access Free Power Without Refueling Your Generator With Pricey Petrol
Due to a weak grid power supply, 40% of Nigerian households use generators and spend $14bn on fuel, according to a report. Read more »
Nigeria: Petrol Subsidy - Court Reaffirms Order Stopping NLC, TUC From Embarking On Strike
NLC, TUC had, on Monday, asked the court to vacate its earlier order restraining them from embarking on strike over the recent removal of petrol subsidy. Read more »
Nigeria: ExxonMobil Announces New Managing Director for Mobil Producing Nigeria
"I look forward to the work that lies ahead and continuing the company's outstanding relationships." Read more »
Nigeria: We Have Invested Over $4 Billion in Nigeria - Airtel
"...I think the future will be glorious for this country," the Airtel boss said. Read more »
Nigeria: Central Bank Lifts Cash Deposit Restriction On Domiciliary Accounts
The CBN disclosed this in a press statement after deliberating at an extraordinary Bankers' Committee meeting Read more »
June 18, 2023
Nigeria: Cost of Development? How Lagos $1.5 Billion Seaport Altered Fortunes of Local Communities
There was Lekki, a seashore of abundant fishes, aquatic splendour and comfortable fishing communities. Then came a seaport, a government-backed investment, at a cost to humans and… Read more »
June 16, 2023
Nigeria: Exchange Rate to Ease At About N600/$ in Coming Months, Says JP Morgan
Analysts see the devaluation of the naira as crucial to stabilising the local currency and winning investors' confidence. Read more »
Nigeria: Naira Extend Losses At I&E Window
Naira weakened further on the official market to trade at N702.19 per $1 on Thursday. Read more »
June 15, 2023
Nigeria: We're No Longer Sole Supplier of Petrol - NNPCL
President Bola Tinubu had, in his inaugural address on 29 May, announced the removal of fuel subsidy. Read more »
Nigeria: How Govt's New Forex Regime Will Impact Investment, Petrol Pump Price - Experts
"You know the pump price is not just a function of our exchange rate; it is also a function of the crude oil price. Especially now that we are still importing petroleum products,"… Read more »
Nigeria: Alleged N7.9bn Fraud - Again, Court Suspends Stella Oduah's Arraignment
Former Senator Stella Oduah and others are facing N7.9 billion fraud charges. Read more »
Nigeria: Experts Raise Concerns Over Govt's Borrowing Limit From CBN
Nigeria's Senate approves bill to raise government borrowing from the central bank, sparking concerns over accountability and economic implications. Read more »
Nigeria: Reps Reject Move to Declare 'Japa' National Emergency
The motion was rejected because the 1999 Constitution guarantees the freedom of movement of Nigerians to live and earn a living anywhere if they are qualified and normal. Read more »
Nigeria: Subsidy Removal - Petroleum Marketers to Begin Fuel Importation in July - NMDPRA
The NMDPRA boss did not reveal the identity of the three marketers expected to begin importing petrol into the country. Read more »
Nigeria: Nigeria's Inflation Hits 22.41% As Food Prices Rise
The NBS said food inflation was 24.82 per cent in May, up from 24.61 per cent in April. Read more »
Nigeria: Power Restored in 330kv Alagbon Substation After Fire Incident - TCN
The fire incident at about 4.32 p.m. on Wednesday affected one of the 60 MegaVolt Ampere (MVA) power transformers in the TCN substation. Read more »
Nigeria: Subsidy Removal - NLC Proposes Wage Award - Chris Ajaero
Mr Ajaero said the proposal was part of the agreement reached with the government during the negotiation on the removal of fuel subsidy. Read more »
Nigeria: ExxonMobil Butane Lifting At Bonny Terminal Approved By NUPRC - Official
"It is important to state that ExxonMobil formally applied to NUPRC for approval of its operations as an integrated operation...," an official said. Read more »
June 14, 2023
Nigeria: CBN Announces Unification of Forex Windows, Stops Naira4dollar Scheme
The apex bank stopped the RT200 programme and the naira4dollar remittance scheme effective 30 June Read more »
Nigeria: Naira Records Biggest Fall As Nigeria Eyes Monetary Policy Reset
Naira touched an all-time low at the official market to trade at N664.04 per $1 on Wednesday Read more »
Nigeria: All You Need to Know About Green Hydrogen, Relevance to Energy Transition Drive
There are, however, concerns that fossil fuel firms could lock in the blue hydrogen policy to extend the life of their current assets. Read more »