Business News

The naira has shown resilience in the unofficial market, appreciating against the dollar as the dollar index saw some losses due to profit-taking. On Friday, the naira was valued at...

In the first quarter (Q1) of 2024, Nigeria's gross domestic product (GDP) increased by 2.98%, up from 2.31% in Q1 2023. However, this slightly decreased from the 3.46% growth in...

Nigerian Aviation Handling Company Plc has set an N100bn revenue target within the next five years. The projection was made known by the Group Chairman of the company, Dr Seinde...

The demand for foreign exchange by individuals and companies seeking to do importation and other forex-related activities fell 42 per cent year-on-year, latest data from the Central Bank of Nigeria have...

The Federal Government says it has procured 50,000 prepaid electricity meters to be installed in military barracks and establishments across the country. The Minister of Power, Adebayo Adelabu, disclosed this...

President Bola Tinubu has approved a $100m investment by Nigeria for class A shares in the proposed African Energy Bank, the Federal Ministry of Petroleum Resources announced on Friday. It...

Nigeria is going to generate 6,000 megawatts of electricity before the end of this year, the Federal Government declared on Friday. Nigeria’s power generation currently hovers around 4,000 and 4,500MW...

The recent 150 basis points hike in the Central Bank of Nigeria's (CBN) Monetary Policy Rate (MPR) to 26.25% will exacerbate the already high cost of doing business in Nigeria,...

On May 24, 2024, Nigeria's foreign exchange market experienced a dramatic increase in turnover on the Nigerian Autonomous Foreign Exchange Market (NAFEM) window, surging by 231.99%. This occurred alongside the...

Food prices, the National Bureau of Statistics (NBS) reports that rice, garri, tomato, beans, yam, and other food prices would rise in April 2024. The NBS stated this in its...