Business - Page 87

Inflation: Nigerian Money Supply Hits N99trn, Sparks Economic Worries

Nigerian Money Supply Reaches Record High In May 2024, Nigeria’s money supply (M3) hit an unprecedented high of N99.23 trillion, raising concerns about the naira’s stability and ongoing inflation. According to the

Emmanuel Ochayi

5 months ago

Nigerians Spend N16.5trn On Diesel, Petrol, Generators For Self-Generated Power In 2023- Report

Business·Latest News

Nigerians Spend N16.5trn On Diesel, Petrol, Generators For Self-Generated Power- Report

Informal Power Spending Soars In 2023 alone, Nigerians spent N16.5 trillion on diesel, petrol, and generators to meet their electricity needs. This figure dwarfs the N1 trillion revenue generated by the formal

Emmanuel Ochayi

5 months ago

Dangote Refinery To Begin Crude Oil Production By End Of 2024, Seeks Local Oil Supply Solutions

Business·Latest News

Dangote Warns High Interest Rates Will Hurt Local Manufacturers

Rising Interest Rates a Major Concern Aliko Dangote, Chairman and CEO of the Dangote Group, has highlighted the adverse effects of rising interest rates on local manufacturers. At the opening session of

Emmanuel Ochayi

5 months ago

EU-Nigeria Trade Volume Trade Volume Hits €24.6bn Amid 18.7% Drop

Business·Latest News

EU-Nigeria Trade Volume Reaches €24.6bn Despite 18.7% Drop From Previous Year

EU-Nigeria Business Forum Reveals New Agribusiness Platform Trade Volume Decline The volume of trade between the European Union (EU) and Nigeria reached €24.6 billion in 2023, despite 18.7% decrease from the previous

Emmanuel Ochayi

5 months ago

Banks’ Recapitalisation Drives 44% Surge In Nigerian Equities Market

Business·Latest News·Markets

Equity Market Records Positive Close As Stocks Show Mixed Performance

Nigeria’s equity market recorded its first positive close for the month on Tuesday, July 2, with a slight rise of 0.05 percent after a 0.04% decline from Monday trading as reported by

Emmanuel Ochayi

5 months ago

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 18th July 2024

Business·Markets

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 3rd July 2024

What is the Dollar to Naira Exchange rate at the black market also known as the parallel market (Aboki fx)? The exchange rate for the US dollar (USD) to Nigerian Naira (NGN)

Emmanuel Ochayi

5 months ago

Business·Latest News·Oil & Gas

We’ve Declared War Against Challenges Affecting Crude Oil Production – NNPCL Boss

In a bid to scale up crude oil production, the Nigeria National Petroleum Company Limited (NNPCL) says it has declared a state of emergency in the oil and gas industry. NNPCL Group

Victor Ezeja

5 months ago

Weak Naira: CBN Sells $543.5m To Boost FX Market

Business·Currency·Latest News

CBN Orders Banks, Forex Dealers To Accept Old, Lower Dollar Denominations

The Central Bank of Nigeria (CBN) has warned licensed forex dealers and Deposit Money Banks (DMBs) against rejecting older and smaller denominations of US dollars. The apex bank stated that they are

Victor Ezeja

5 months ago

Nigeria’s 1.8mbpd Oil Production A Drop In The Bucket – Economist

Business·Latest News·Oil & Gas

Nigerian Govt Halts Bidding For 5 Oil Blocks Over Litigation

The Nigeria Midstream and Downstream Petroleum Regulatory Commission (NUPRC), has reportedly removed five oil blocks from the 2024 licensing round due to legal disputes. According to NUPRC, the affected oil blocks are

Victor Ezeja

5 months ago

Business·World News

US Manufacturing Slips Further Into Contraction In June

Manufacturing activities in the United States further dropped in June, owing to what was attributed to a decline in demand. The Institute for Supply Management’s (ISM) Purchasing Managers Index (PMI), recorded 48.5

Victor Ezeja

5 months ago

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Business - Page 87

Inflation: Nigerian Money Supply Hits N99trn, Sparks Economic Worries

Nigerians Spend N16.5trn On Diesel, Petrol, Generators For Self-Generated Power- Report

Dangote Warns High Interest Rates Will Hurt Local Manufacturers

EU-Nigeria Trade Volume Reaches €24.6bn Despite 18.7% Drop From Previous Year

Equity Market Records Positive Close As Stocks Show Mixed Performance

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 3rd July 2024

We’ve Declared War Against Challenges Affecting Crude Oil Production – NNPCL Boss

CBN Orders Banks, Forex Dealers To Accept Old, Lower Dollar Denominations

Nigerian Govt Halts Bidding For 5 Oil Blocks Over Litigation

US Manufacturing Slips Further Into Contraction In June

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