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Economy

Exchange rate falls to N900/$1 as operators ask ‘where is the dollar’

Business Standard August 22, 2023 Exchange rate falls to N900/$1 as operators ask ‘where is the dollar’2023-08-22T20:16:05+00:00 Economy No Comment
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…
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Economy

Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion – JP Morgan

Business Standard August 22, 2023 Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion – JP Morgan2023-08-22T18:54:59+00:00 Economy No Comment
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…
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Economy

NNPC secures $3bn emergency crude repayment facility to stabilize naira

Business Standard August 16, 2023 NNPC secures $3bn emergency crude repayment facility to stabilize naira2023-08-16T20:55:08+00:00 Economy No Comment
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…
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Economy

Nigeria to experience stronger economic growth in 2023 – NESG

Business Standard August 16, 2023 Nigeria to experience stronger economic growth in 2023 – NESG2023-08-16T20:52:44+00:00 Economy No Comment
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…
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Economy

Muda Yusuf urges FG to fix production, productivity constraints in supply side of the economy

Business Standard August 16, 2023 Muda Yusuf urges FG to fix production, productivity constraints in supply side of the economy2023-08-16T20:40:46+00:00 Economy No Comment
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…
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Economy

Current petrol pump prices will remain, says Tinubu

Business Standard August 15, 2023 Current petrol pump prices will remain, says Tinubu2023-08-15T19:15:31+00:00 Economy No Comment
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…
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Economy

DMO raises N312 billion FGN Bond in August 2023 auction

Business Standard August 15, 2023 DMO raises N312 billion FGN Bond in August 2023 auction2023-08-15T18:48:18+00:00 Economy No Comment
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…
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Economy

Nigeria’s inflation rose to new high of 24.08% year on year in July

Business Standard August 15, 2023 Nigeria’s inflation rose to new high of 24.08% year on year in July2023-08-15T18:45:42+00:00 Economy No Comment
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…
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Economy

CBN Promises To Improve Forex Liquidity In Coming Days

Business Standard August 14, 2023 CBN Promises To Improve Forex Liquidity In Coming Days2023-08-14T20:28:16+00:00 Economy No Comment
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…
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Economy

CBN warns new FX Policy ‘coming soon’ will lead to losses for speculators

Business Standard August 14, 2023 CBN warns new FX Policy ‘coming soon’ will lead to losses for speculators2023-08-14T20:22:26+00:00 Economy No Comment
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…
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Featured News

  • Oando’s after tax profit surges by impressive 267%, reaching N220bn in 2024
    Oando’s after tax profit surges by impressive 267%, reaching N220bn in 2024
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  • Oando’s after tax profit surges by impressive 267%, reaching N220bn in 2024 June 4, 2025
  • Seplat Energy is Redefining Nigeria’s Energy Destiny – Roger Brown, CEO May 30, 2025
  • SEC Warning on Ponzi Schemes, Demands Vigilance to Protect Investors, Economy May 30, 2025
  • Dangote Cement Rewards Distributors, Customers with CNG-Trucks, Cash Gifts Worth N11 billion May 28, 2025

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