Business News

Nigeria’s economy, which ranked as Africa’s largest in 2022, is set to slip to fourth place this year after a series of currency devaluations, International Monetary Fund forecasts show. The...

Nigeria is moving to criminalise the destruction of broadband fiber cables in response to ongoing grievances from major telecommunications companies like MTN Nigeria Communications Plc. Sources familiar with the situation...

The Federal Government of Nigeria will need to come up with the sum of N3.2trn in 2024 to reverse the recent hike in electricity tariff, the Chairman of the Nigeria...

In a communication to its shareholders, Nestle Nigeria Plc disclosed that a substantial portion, 94%, of its N195 billion foreign exchange (FX) losses comprises "unrealized exchange losses." Specifically, N184 billion...

China has forgiven an undisclosed amount of Zimbabwe's interest-free loans and pledged assistance to help the country address its ongoing debt crisis. However, Zimbabwean activists caution against falling into a...

Yesterday, the Naira strengthened to N1,060 per dollar on the parallel market, up from N1,105 per dollar on Wednesday. However, it fell to N1,154.08 per dollar on the Nigerian Foreign...

The Central Bank of Nigeria (CBN) has denied claims that it is selling foreign exchange (FX) to bureau de change (BDC) operators at a rate of N1,001 every $1. The...

The National Bureau of Statistics (NBS) reported that the average retail price of a litre of petrol jumped from N246.29 in March 2023 to N696.79 in March 2024. The agency...

Google announced on Thursday that it has let go of 28 workers after some of them took part in demonstrations against the Israeli government's cloud contract. A tiny number of...

The Nigerian Ports Authority says has secured a $700m loan from Citibank for the rehabilitation of the Apapa and Tincan Island Ports in Lagos. The loan was funded by the...