The Naira has remained under huge pressure against the greenback owing mainly to the import-dependent structure of the Nigerian economy. While Agriculture, Mining and Oil…
View More Pressure on exchange rate from the aviation sector remains unabated
Category: Business
Elon Musk’s companies, Tesla and SpaceX slammed with $258 billion lawsuit
Elon Musk’s companies, SpaceX and Tesla have been sued for $258 billion by one Keith Johnson who claims that the companies and their owner illegally…
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Insurance company records N10.5bn gross premium
Consolidated Hallmark Insurance Plc’s gross written premium rose to N10.5bn by the end of 2021 financial period. The Chairman, Board of Directors of the company,…
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Why Abuja fuel scarcity won’t end soon – Marketers
Fuel marketers have identified high cost of transportation as a major cause of fuel scarcity in Abuja. A former chairman, Major Oil Marketers Association of…
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Inflation surges again, hits 17.71% amid rising prices
Nigeria’s inflation rate has again surged to 17.71 per cent, according to latest figures by the National Bureau of Statistics. In May 2022, the inflation…
View More Inflation surges again, hits 17.71% amid rising prices
NERC reveals when electricity supply will improve
Mr Sanusi Garba, Chairman, Nigerian Electricity Regulatory Commission (NERC), says Nigerians will witness improved power supply from July 1 following renewed efforts by industry stakeholders.…
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Nigeria repays five oil firms’ $3.7bn debt, owes $972m
Latest updates on Nigeria’s cash call arrears repayment showed that the country had so far repaid a total of $3.72bn to five international oil companies,…
View More Nigeria repays five oil firms’ $3.7bn debt, owes $972m
More Nigerians’ll fall into extreme poverty, World Bank predicts
The World Bank has predicted that more people in Nigeria and its Sub-Saharan neighbours are expected to fall into extreme poverty. According to a report…
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Nigerian banks increase interest rates on mortgage, personal, corporate loans by at least 2%
Commercial Banks in Nigeria have implemented interest rate hikes for loans raising rates by as much as 200 basis points (2%). The interest rate hike…
View More Nigerian banks increase interest rates on mortgage, personal, corporate loans by at least 2%
NGX ends 3-day winning streak by losing N41.46 billion
The Nigerian exchange today ended its three-day winning streak as it lost N41.46 billion in capitalization today, attributable to losses seen majorly from the Insurance…
View More NGX ends 3-day winning streak by losing N41.46 billion