The International Monetary Fund (IMF) has acknowledged that the Nigerian government has taken bold steps toward economic stabilisation, but the effects of these reforms have yet to be felt by ...
Nigeria’s power generation companies (GenCos) have issued a serious warning about an impending nationwide electricity shutdown, citing a staggering ₦4 trillion debt owed by the Federal Government for energy generated ...
Despite a sharp decline in the U.S. dollar index—down more than 2% in just two days—the Nigerian naira has yet to capitalize on the global currency shift. As of recent ...
The Federal Executive Council (FEC) has officially directed the full implementation of the Naira-for-Crude policy, aiming to enhance local refining capacity and reduce Nigeria's reliance on foreign exchange for petroleum ...
In March 2025, the Nigerian naira depreciated by 2.4% at the Nigerian Autonomous Foreign Exchange Market (NAFEM) window and by 2.6% in the parallel market, closing at ₦1,536.82/$ and ₦1,530.00/$ ...
The Nigerian naira has experienced a significant depreciation against the U.S. dollar, coinciding with the recent announcement of new tariffs by U.S. President Donald Trump. On Thursday, April 3, 2025, ...
The Naira strengthened in the parallel market on Thursday, appreciating to ₦1,560 per dollar from ₦1,570 per dollar recorded the previous day. However, in the Nigerian Foreign Exchange Market (NFEM), ...
The cost of Premium Motor Spirit (PMS), commonly known as petrol, is expected to increase in the coming days as the landing cost of imported fuel has surged once again. ...
The Nigerian naira faced continued pressure in the official foreign exchange market last week, depreciating by 1.25% to settle at ₦1,536.89/$ on Friday. Data from the Central Bank of Nigeria ...
The Dangote Refinery has recently received additional crude oil shipments from the Nigerian National Petroleum Company Limited (NNPCL). This development follows a meeting of the Technical Sub-Committee on the Naira-for-Crude ...
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