Economic News

Transnational Corporation of Nigeria (Transcorp) Plc has released its third-quarter results for the fiscal year ending September 30, 2022, showing significant improvement across its major income lines. Despite the extremely...

During the nine months ending September 30, 2022, Dangote Cement Plc and BUA Cement Plc spent a whopping N263.157 billion on fuel and power. This is a 44.31% increase over...

According to the Nigeria Inter-Bank Settlement System (NIBSS), bank customers in Nigeria transferred a total of N12.8 trillion using mobile devices between January and September of this year. The NIBSS...

According to Lagos State Governor Babajide Sanwo-Olu, the $2.9 billion Badagry Deep Seaport is expected to generate more than $53 billion during its concession period. According to a statement issued...

Nigeria and Egypt's current annual trade volume has risen to $141 million, as both countries prepare to host the inaugural Nigeria-Egypt Trade Conference and Exhibition (NETCE) on Monday in Cairo....

Mixta Real Estate PLC, a real estate company with offices in Lagos, has been given a USD19.5 million credit line by Shelter Afrique. Mixta has designed the seven-year facility with...

In the nine months leading up to September 2022 (9M'22), the amount of dollars exchanged in the Investors and Exporters (I&E) window of the Nigerian foreign currency (Forex) market increased...

The execution of foreign exchange reforms to regain the confidence of investors in the economy is a prerequisite for Nigeria's pursuit of rapid economic growth and greater foreign exchange inflows....

Nigeria's foreign reserves fell by $2.202 billion to $38.318 billion on September 29, 2022, from $40.520 billion on December 31, 2021. Foreign reserves have decreased by 5.42%. Billions have depleted...

The Nigerian National Petroleum Company Limited (NNPC) announced yesterday in Abuja the acquisition of Oando's OVH Energy, a move aimed at expanding the national oil company's portfolio. The licensee of...