Business News

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...

The National Bureau of Statistics (NBS) reports that the average price of 5kg cooking gas fell from N6,591.62 in March 2024 to N6,521.58 in April 2024. This is mentioned in...

The Manufacturers Association of Nigeria has said manufacturers were forced to cut production and jobs in the first quarter of the year due to macroeconomic-related headwinds. MAN’s Director of Research...

The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, on Monday, announced that about $16.6bn investments had been committed to Nigeria’s oil and gas sector in the past one...

Nigeria's first Compressed Natural Gas (CNG) vehicle manufacturer, Innoson Vehicles Manufacturing Company Ltd (IVM), based in Nnewi, Anambra State, has built a new multi-billion naira plant. This facility will produce...

Kerosene price, the average retail price per litre of household paraffin (HHK) in Nigeria increased by 6.29 percent month on month to N1,439.64 from N1,354.40 in March 2024. The National...