Economy and Business
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JUST IN: CBN posts N38.8 billion profit in 2024, recovers from N1.55 trillion loss
The Central Bank of Nigeria (CBN) has reported a profit after tax of ₦38.8 billion for the 2024 financial year,…
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Major Restructuring in NNPC as New MD Bayo Ojulari Sacks Bala Wunti, 200 Others
Bayo Ojulari, the newly appointed Managing Director of the Nigerian National Petroleum Company (NNPC), has removed over 200 staff members,…
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NNPCL’s $897m Warri Refinery Renovation Fails as Facility Remains Shut
The Warri Refining and Petrochemical Company has remained shut since January 25, 2025, despite the Nigerian National Petroleum Company Limited…
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Nigerians borrow N470 billion in personal loans as economic hardship bites harder
The Central Bank of Nigeria (CBN) has revealed that Nigerians borrowed a staggering N470 billion in personal loans from banks…
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NSCDC Busts Illegal Crude Oil Reservoir in Ondo
Emmanuel Oghenero The Nigeria Security and Civil Defence Corps (NSCDC) in Ondo State has uncovered of an illegal crude oil…
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Inside Business: Shareholders worry as Boardroom Crisis cripples 9Mobile
The ongoing leadership crisis at 9mobile, one of Nigeria’s leading telecommunications companies, has snowballed, and may be taking a toll…
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JUST IN: As Expected, Nigeria’s Inflation Rate Drops to 24.48%
Nigeria’s inflation rate has dropped to 24.48% year-on-year in January 2025, according to the latest report from the National Bureau…
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JUST IN: Nigeria’s stock market kicks off 2025 with N1.95 trillion gain
Despite global and domestic uncertainties, the Nigerian equities market started 2025 on a positive note, recording a N1.95 trillion gain…
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Naira appreciates to N1,630/$ in black market, gains N12.7 in official market
The Naira has appreciated, rising to N1,630 per dollar in the black market from N1,640 previously. Similarly, in the official…
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JUST IN: CBN directs FX market participants to submit compliance reports
The Central Bank of Nigeria (CBN) has issued a directive requiring all foreign exchange (FX) market participants to conduct a…
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Dangote Cement, FBNHoldings, others Lift Equity Market by N53 Billion
The equity market rebounded on Thursday from its previous session’s loss, gaining N53 billion. Investor interest in key stocks such…
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“Nigeria’s economy on the rise with 3.6% growth projection” – World Bank
The World Bank has projected an average economic growth rate of 3.6% for Nigeria between 2025 and 2026, attributing the…
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From dust to development: How Bua Cement is building a new era in partnership with Edo state
In the quiet, lush landscapes of Okpella, Edo State, a visible transformation is underway. Once a sleepy community, it has…
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JUST IN: Inflation rises to 34.60% in November
Nigeria’s inflation rate has surged to 34.60% in November, according to the National Bureau of Statistics (NBS). This represents a…
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Yuletide: More woes for Nigerians as cash shortage bites harder amid economic hardship
Nigerians are bracing for a challenging Christmas season as a worsening cash shortage grips the nation, leaving families, small businesses,…
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BREAKING: Naira Reverses Earlier Gains, Drops to N1,745/$1
The Naira has suffered a fresh setback, reversing its recent gains and sliding back to around N1,745/$1 on the parallel…
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More Details Emerge as Port Harcourt Refinery Struggles with Non-Operational Conversion Units, Fail to Produce Petrol
Despite claims by the Nigerian National Petroleum Company Limited (NNPCL) that the Port Harcourt Refinery is back and running, emerging…
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JUST IN: CBN raises interest rate again to 27.50%, retains cash reserve ratio for banks
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has increased the Monetary Policy Rate (MPR) by…
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National Assembly Faces Backlash as Nigeria’s Debt Climbs to N138tn
The National Assembly has come under heavy criticism for the swift approval of President Bola Tinubu’s loan requests, raising Nigeria’s…
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Minister Edun Blames Past Administrations for Nigerians’ Economic Pain
Minister of Finance Wale Edun has attributed the economic challenges Nigerians face under President Bola Ahmed Tinubu’s administration to past…
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