Exchange rate falls to N900/$1 as operators ask ‘where is the dollar’
The exchange rate between the naira and the dollar plummeted to N900/$1 on the black market, based on quotes received by Nairametrics late on Tuesday. This represents a stark depreciation…
Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion – JP Morgan
JP Morgan Global financial service firm JP Morgan has estimated Nigeria’s net foreign reserve to be around $ billion. The figure is far below the $ billion as of August…
NNPC secures $3bn emergency crude repayment facility to stabilize naira
In what appears like a boost for the naira, the Nigerian National Petroleum Company (NNPC) Limited and the African Export-Import Bank (Afreximbank) have jointly signed a commitment letter and Termsheet…
Nigeria to experience stronger economic growth in 2023 – NESG
The Nigeria Economic Summit Group (NESG) revealed that Nigeria would experience stronger economic growth in 2023 as firms’ new orders, output growth rate, and inventory activities increase. This was disclosed…
Muda Yusuf urges FG to fix production, productivity constraints in supply side of the economy
Muda-Yusuf Chief Executive Officer, Centre for the Promotion of Private Enterprise (CPPE), Dr Muda Yusuf has said federal government must address the challenges bedeviling the supply side of the economy…
Current petrol pump prices will remain, says Tinubu
President Bola Tinubu has assured Nigerians that his administration is already taking steps that would curb the increase of fuel prices in the country without having to reverse the nation’s…
DMO raises N312 billion FGN Bond in August 2023 auction
The Debt Management Office (DMO) has announced the results of the August 2023 FGN bond auction. According to information seen on DMO website, the auction featured the re-opening of four…
Nigeria’s inflation rose to new high of 24.08% year on year in July
Kayode Ogunwale In July 2023, the headline inflation rate rose to relative to June 2023 headline inflation rate which was Looking at the movement, the July 2023 headline inflation…
CBN Promises To Improve Forex Liquidity In Coming Days
The acting Governor of the Central Bank of Nigeria (CBN), Folashodun Shonubi, says the apex bank will, in the next few days, be taking steps to improve the liquidity in…
CBN warns new FX Policy ‘coming soon’ will lead to losses for speculators
The acting governor of the Central Bank of Nigeria, CBN, Fola Shonubi warned speculators of potential losses as they implement a new policy to stabilize the exchange rate. According to…