Business News

Yemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), has responded to concerns regarding the dwindling external reserves, asserting that the decline is not a result of the...

Apparently worried by the country’s dwindling oil revenue, the Federal Government says it has concluded plans to take over all idle oil wells from operators holding on to them. The...

The International Monetary Fund has reviewed upwards Nigeria’s economic growth forecast for 2024 from three per cent to 3.3 per cent. This revision was announced in the IMF’s World Economic...

Gabriel Ogbechie (rainoil), Chief Executive Offthe federal government now spends N600 billion every month on petrol subsidies. Speaking at the Stanbic IBTC Energy and Infrastructure Breakfast Session in Lagos, Ogbechie...

The Organised Private Sector in Nigeria (OPSN) has stated that the recent increase in energy tariffs may cause more than 65 percent of the country's firms to close, and has...

In a recent release of its Global Economic Outlook at the International Monetary Fund/World Bank Spring Meetings in Washington D.C., on Tuesday, the IMF provided projections for Nigeria’s economy, indicating...

The $20 billion Dangote Petroleum Refinery has reduced diesel prices by 16.6% to N1,000 per litre, down from N1,200 per litre, in an effort to boost Nigeria's domestic economy. Diesel...

The Federal Ministry of Finance has launched the Incentive Monitoring and Evaluation Platform, a state-of-the-art electronic system designed to enhance the oversight of tax expenditures associated with import duty exemption...

Foreign Direct Investments into Nigeria fell by $19bn in 10 years, from $22.7bn in 2014 to $3.7bn in 2023, it has been learnt. This was contained in a presentation made...

The Premium Breadmakers Association of Nigeria, or PBAN, has revealed the causes of rising bread costs, the country's most popular basic meal. According to PBAN, currency rate volatility has affected...