Naira gains against US Dollar amid rising inflation
On Wednesday, the Nigerian currency, the naira, showed resilience against the US Dollar, despite the country experiencing a significant inflation rate. According to FMDQ data, […]
Business
CBN Refutes Currency Redenomination; Committee Promises Naira Stability by December
The Central Bank of Nigeria (CBN) has confirmed that it does not have any plans to redenominate the Nigerian currency, the Naira. CBN’s Director of […]
Military foils N1.2bn crude oil theft as production increases
The Defence Headquarters announced on Thursday that in the past two weeks, Nigerian troops intercepted stolen crude oil worth N1.2 billion, while the country’s oil […]
IMF projects South Africa will displace Nigeria as continent’s largest economy in 2024
The International Monetary Fund (IMF), in its recent World Economic Outlook, has predicted that South Africa is poised to overtake Nigeria as the largest economy […]
BREAKING: Nigeria’s headline inflation rises to 26.72% in September
In September 2023, Nigeria’s headline inflation rate experienced a 0.90 percent increase, reaching 26.72 percent, up from 25.80 percent in August 2023. The National Bureau […]
Households in Taraba groan as prices of Kerosene, cooking gas soar
The soaring prices of kerosene in Taraba State are adversely impacting the lives of its residents, particularly those in low-income households. At the time of […]
127 poultries shut down, over N5bn lost to economic hardship – Farmers lament
The Poultry Farmers Association of Nigeria (PAN) has reported a loss exceeding five billion Naira and the closure of more than 127 poultry farms due […]
IMF downgrades Nigeria’s economic growth by 0.3% for 2023, lauds Tinubu reforms
The International Monetary Fund (IMF) has revised Nigeria’s economic growth downward by 0.3 percent. The ‘2023 World Economic Outlook’ report, released during the annual meetings […]
Nigerian government to invest $617.7 million in digital and creative industries in November
Vice President Kashim Shettima has instructed the Investment in Digital and Creative Enterprises (i-DICE) team to ensure the program begins no later than the end […]
Naira among worst-performing currencies in Africa – world bank
The World Bank has described the Nigerian naira as one of the worst-performing currencies in Africa. The, according to the report, weakened by nearly 40 […]