FX
29 Dec
The year 2023 began on a bumpy ride for the motoring sector even as the sector witnessed a challenging year. The year was characterised by challenges of inflation, naira devaluation, low purchasing power, customers’ priority among others.
13 Nov
The naira has continue to gain momentum against the United States currency, US dollar, after the Central Bank of Nigeria (CBN), intensified the clearance of backlog of foreign exchange forward.
9 Nov
Nigeria's alignment with the current economic reality, coupled with rising inflation, slow growth, floating of exchange rate and volatility in global oil prices, may have exposed the fragility of her economic model and affected its global trade standing.
1 Nov
With the Federal Ministry of Finance's disclosure of receiving $10 billion forex inflows any time from now targeted at cushioning the effect of market squeeze and stimulate growth in the economy, the Manufacturers Association of Nigeria...
26 Oct
The free fall of the Naira continued yesterday as it fell to N1, 290 to $1 in Abuja and other markets.
23 Oct
Steady free-fall of the naira value to dollar has registered new odd records in the air transport sector, with aviation fuel now almost N1000/litre and operators cum travel agencies in a pricing dilemma.
12 Oct 2023
The fast depletion of the indigenous telecommunications firms is unsettling Nigeria’s telecommunications market with fear that falling foreign capital inflow into the sector, high cost of energy and foreign exchange (FX) market crisis...
27 Sep 2023
Key performance indicators of the manufacturing sector suffered negative growth in the first half (H1) of the year, the Manufacturer’s Association of Nigeria (MAN) review of the economy has shown.
18 Sep 2023
Last week, the presidency announced that some Indian investors have made significant investment pledges during the just concluded Nigeria-India Presidential Roundtable and Conference held on the sidelines of the G-20 Summit that took place in New Delhi, India.
11 Sep 2023
Poor consumer spending, local consumption and weakening sales and low consumption are currently reducing the chances of survival and shrinking the profit margin of companies in the fast-moving consumer goods (FMCG) sector...
1 Sep 2023
Nigeria’s local capacity utilisation nosedived further by 5.6 per cent in the second quarter, showing the economy’s ability to create jobs is getting increasingly weaker.
Latest
17 mins ago
The Kaduna State House of Assembly, on Tuesday, set up a 13-man adhoc committee to investigate financial transactions, loans, grants, and project execution under the immediate-past Governor of the State, Malam Nasir El-Rufai. Specifically, Yusuf Mugu, a member representing Kaura constituency, moved the motion on a matter of public importance that the loans borrowed by…
30 mins ago
Gunmen on Tuesday invaded the Secretariat of Ilejemeje local government area in Ẹda-Oniyọ, Ekiti State, vandalized the council buildings and injured one person. The hoodlums who were heavily armed with dangerous weapons like guns, charms, and cutlasses invaded the Secretariat at about 10:am. An eyewitness who did not want his name mentioned told newsmen that…
50 mins ago
The ruling All Progressives Congress (APC) is unhappy with the Governor Abba Yusuf led New Nigeria Peoples Party (NNPP) administration of Kano state for allegedly masterminding what it termed as "the political persecution" of its National Chairman, Dr Abdullahi Umar Ganduje. APC, in a statement by its national publicity secretary, Mr Felix Morka, described the…
59 mins ago
Members of the Peoples Democratic Party (PDP) caucus in the House of Representatives have issued President Bola Tinubu a three three-month ultimatum to resolve the worsening insecurity across the country or face mass from Nigerians. The minority lawmakers said they remained united, indivisible, and committed to acting as a watchdog on behalf of the Nigerian…
1 hour ago
The Federal Government has announced it has kicked off the disbursement of the N50,000 Presidential Conditional Grant Scheme to nano businesses nationwide. Minister of Industry, Trade and Investment, Doris Uzoka-Anite, dislcosed this in a statement on Tuesday. According to the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Nano businesses are enterprises that have…
1 hour ago
Former campaign spokesman President Bola Tinubu in southeast and current Chairman of Forum of Former Members of Enugu State House of Assembly (FOF-MENHA), Dr. Josef Onoh has through his weight behind the Minister of State for Defence, Alhaji Bello Matawalle, in urging the president’s appointees from the northern extraction to stand up in Defence of…
1 hour ago
Some suspected hoodlums from Obbo-Aiyegunle in Kwara State on Tuesday attacked Ilejemeje Local Government Secretariat and some residents of the town over a land dispute. The News Agency of Nigeria (NAN) reports that the alleged hoodlums were heavily armed and fired gunshot to scare residents. The local government secretariat windows and doors were vandalised as…
3 hours ago
A Muslim pupil lost a UK court challenge Tuesday against a top London school's ban on prayer rituals, in a case about freedom of religion in schools that captured national attention. The student, who cannot be named, took legal action against Michaela Community School in northwest London, claiming the policy was discriminatory and "uniquely" affected…
3 hours ago
Hajia Asma’u Malami, the wife of late Nigerian Ambassador to South Africa, Alhaji Shehu Malami, has dragged her stepson and stepdaughter to Court over her husband’s will. Other plaintiffs are Mustapha, Sadiq, Amina, Zainab and A’isha, children of the late Malami and Asma’u The respondents are also deceased children, Aminu and Hafsat. At the resumed…
3 hours ago
On Tuesday, the People's Democratic Party (PDP) faced a fresh crisis during the House of Representatives' caucus meeting. Allegedly, lawmakers aligned with the party's acting Chairman, Umar Damagun, and FCT Minister Nyesom Wike attempted to express confidence in Damagun, but their efforts were unsuccessful. The failed plot was as a result of resistance from a…