Business News

The Central Bank of Nigeria has paid $2bn to clear a part of its backlog of matured foreign exchange obligations to the Deposit Money Banks. Reports have put CBN’s forward...

The naira has depreciated by 38.9 percent against the United States dollar at the official I&E window of the Central Bank of Nigeria in the past three months, according to...

The Nigerian Electricity Regulatory Commission has expressed concern over the electricity load rejection by power distribution companies despite the blackout witnessed in many parts of Nigeria. It threatened to enforce...

The global premium smartphone (with wholesale price ≥$600) market’s sales have been projected to grow by six percent in 2023 to hit a new record, according to Counterpoint Research’s Market...

The Minister of Agriculture and Food Security, Abubakar Kyari, on Friday, said the Federal Government had commenced the massive production of food crops in order to bring down the prices...

Some major fast-moving consumer goods companies, including Cadbury, Guinness Nigeria and Nestle lost the sum of N472.3bn to naira depreciation during the first nine months of 2023, according to a...

The Nigerian Exchange Limited (NGX) concluded the first week of 2024 on a positive note, with sustained investor confidence driving a 6.54% increase in the All-Share index, closing at 79,664.66...

No fewer than nine Ogun communities are currently experiencing power outages due to the drop in power generation from the Egbin power station. The Ibadan Electricity Distribution Company announced this...

The Management of Kaduna Electric has announced the resignation of its Managing Director, Yusuf Yahaya. This was made known in a statement issued by the Head, Corporate Communications, Abdulazeez Abdullahi,...

Dangote Petroleum Refinery, on Thursday, received the fifth crude oil shipment of one million barrels of Bonny Light supplied by the Nigerian National Petroleum Corporation Limited. The company is already...