Business News

The Minister of Power, Adebayo Adelabu, says the N225 Kilowatt-Hour being paid by electricity consumers on Band A will reduce if the exchange rate falls below N1,000 to a dollar....

Zenith Bank Plc has released its audited results for the fiscal year ending December 31, 2023, showing a spectacular triple-digit growth of 125% in gross earnings from NGN945.6 billion in...

The International Monetary Fund has said that most industrial policies rely heavily on costly subsidies or tax breaks, which could be detrimental to productivity and welfare if not effectively targeted....

The World Bank has said that the lower-than-average growth in Nigeria will hold back the sub-region’s economic performance. The Washington-based lender in a report on the economic outlook of Western...

Nigeria’s crude oil production witnessed the second consecutive monthly decline since the beginning of this year, as it dropped to 1.231 million barrels per day in March, the Organisation of...

The Federal Government’s total debt stock may experience a significant increase from N87.3tn (as of December 2023) to N111.4tn, following fresh borrowings in the first quarter of 2024. According to...

The International Monetary Fund has said that countries across the world must prioritise productivity reforms to revive medium-term growth. In a piece on its website on Wednesday, the IMF stated...

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mr Mele Kyari, has reiterated the crucial role of natural gas in fuelling economic growth and industrial development....

The Federal Government has raised the amount that it would save this year following the recent hike in electricity tariff for Band A customers to N1.5tn. It also stated that...

The Nigeria Customs Service (NCS) has adjusted the exchange rate for the clearance of goods and assessment of import duties, lowering it from N1,246.66/$ to N1,238.17 to the USD. This...