Naira Continues Depreciation Against Dollar, Records Highest Decline Weekly
Business
2 min read
98

Naira Continues Depreciation Against Dollar, Records Highest Decline Weekly

March 10, 2025
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The Nigerian naira continued depreciation on Friday at the foreign exchange market to end the week on a negative note. According to the Central Bank of Nigeria’s exchange rate data, the Naira fell to N1,517.24 on Friday from N1,512.30 exchanged on Thursday. On a day-to-day basis, this showed that the

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Dangote Refinery Suffers As Nigeria’s Petrol Import Jumps 105% To N15.4tn
Business
3 min read
50

Dangote Refinery Suffers As Nigeria’s Petrol Import Jumps 105% To N15.4tn

March 10, 2025
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Nigeria’s cost of importing premium motor spirit and other petroleum products soared to N15.4 trillion in 2024 from N7.5 trillion despite the commencement and restart of local refineries in 2024. This is according to the National Bureau of Statistics combined foreign trade data for 2024. The petrol imports dominated foreign trade

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Naira Records Highest Depreciation Against Dollar Across Official, Black Markets
Business
1 min read
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Naira Records Highest Depreciation Against Dollar Across Official, Black Markets

March 6, 2025
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The Nigerian naira recorded the highest depreciation against the dollar across official and parallel foreign exchange markets on Wednesday. This comes as the Central Bank of Nigeria’s exchange rate data showed that the Naira fell to N1,500.8 per dollar on Wednesday from N1,498.98 traded on Tuesday. The development means that

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Trade War: Pressure, Threats Won’t Work – China To US
Business
1 min read
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Trade War: Pressure, Threats Won’t Work – China To US

March 5, 2025
7

The United States should work with China in the same direction to resolve trade disputes through equal-footed consultation, a Chinese spokesperson advised on Tuesday, stressing that pressure or threat will not work. Lou Qinjian, the spokesperson for the third session of the 14th National People’s Congress, China’s national legislature, made

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Dangote, NNPCL Price War: Fuel May Drop To N650/Litre – Analyst
Business
2 min read
54

Dangote, NNPCL Price War: Fuel May Drop To N650/Litre – Analyst

March 5, 2025
7

Financial analyst and Chief Economist at SPM Professionals, Paul Alaje, has said that the price of Premium Motor Spirit (petrol) may drop to between N650 and N800 per litre if the price war or competition between Dangote Refinery and the Nigerian National Petroleum Company Limited, NNPCL, continues. Alaje, speaking in

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Naira Appreciates Against Dollar To End Week On Good Note
Business
1 min read
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Naira Appreciates Against Dollar To End Week On Good Note

March 3, 2025
4

Naira appreciated against the dollar to end on positive note at the official foreign exchange market on Friday. The Central Bank of Nigeria’s exchange rate data showed that the Naira strengthened to N1,492.49 per dollar on Friday from N1,499.07 recorded on Thursday. Accordingly, this showed that the Naira appreciated by

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Nigerian Banks Begin Implementation Of New ATM Withdrawal Charges
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1 min read
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Nigerian Banks Begin Implementation Of New ATM Withdrawal Charges

March 3, 2025
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The new Automated Teller Machine, ATM charges imposed on Nigerians by the Central Bank of Nigeria, CBN, came into effect on Saturday. This follows the apex bank’s announcement on 11 February 2025 that, from 1 March 2025, N100 and N450 fees would apply to ATM withdrawals. The CBN explained that the

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Elumelu Commits To Boosting Gabon’s Infrastructure, Youth Empowerment
Business
3 min read
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Elumelu Commits To Boosting Gabon’s Infrastructure, Youth Empowerment

March 3, 2025
7

The Chairman of United Bank for Africa (UBA) Group and Founder of the Tony Elumelu Foundation (TEF), Tony Elumelu, has once again reaffirmed his commitment to the development of Gabon’s economy development following a high-level meeting with the President of Gabon, Brice Oligui Nguema earlier this week. Elumelu who was

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Nigerian Government: Fear Of Massive Job Losses Is Why We Allow 50% Telecom Tariff Hike
Business
3 min read
343

Nigerian Government: Fear Of Massive Job Losses Is Why We Allow 50% Telecom Tariff Hike

February 28, 2025
99

The Federal Government has defended its decision to approve a 50 per cent tariff hike for telecommunications services, citing job protection for Nigerians and the need to prevent multinational firms from leaving the country. The Minister of Communications and Digital Economy, Dr Bosun Tijani, provided this clarification on Thursday, shortly

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Naira Continues Depreciation Against Dollar At The Black Market
Business
1 min read
54

Naira Continues Depreciation Against Dollar At The Black Market

February 28, 2025
3

The Naira continued its depreciation against the dollar at the parallel foreign exchange market on Thursday. A Bureau de Change operator in Wuse Zone 4, Abuja, Abubakar Alhasan, told DAILY POST that the Naira dropped to N1500 per dollar on Thursday from N1490 exchanged on Wednesday. This showed that the

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