Category: Economy and Capital Markets

Inflation Climbs to 28.92%, Closes At 21-Year High — NBS

Food inflation continues to outperform general inflation. In December 2023, the food inflation rate was 33.93 per cent. Inflation has continued to rise, according to a report by the National…

Read More Arrow

As Naira Loses 39%, Manufacturers May Embark On Mass Retrenchment

The naira has depreciated by 38.9 percent against the United States dollar at the official I&E window of the Central Bank of Nigeria in the past three months, according to…

Read More Arrow

Report Reveals How Cadbury, Guinness Others Lost N472bn To Naira Depreciation

Some major fast-moving consumer goods companies, including Cadbury, Guinness Nigeria and Nestle lost the sum of N472.3bn to naira depreciation during the first nine months of 2023, according to a…

Read More Arrow

Naira slumps to N1,043 at official market

The Nigerian Naira reached a new low on Thursday, closing at N1,043.09 per dollar in the official market.   The domestic currency depreciated by 16.35% to close at N1,043.09 to…

Read More Arrow

OPEC : 2.2 million barrels per day 2024 growth expectations, key to shaping oil market

The Organisation of the Petroleum Exporting Countries said its 2.2 million barrels per day expectations for economic growth in 2024 is expected to play a defining role in shaping global…

Read More Arrow

In-depth Investigation Reveals Alleged N22.7 Trillion ‘Ways and Means’ Scandal Involving Former CBN Governor Emefiele

An explosive report has surfaced, casting a damning shadow over the tenure of former Central Bank of Nigeria (CBN) governor, Godwin Emefiele. The special investigator appointed for the probe, Jim…

Read More Arrow

Rise in Nigeria’s Domestic Borrowing Soars to N52 Trillion in 2023

Nigeria’s domestic debt stock surged by an astonishing 134%, soaring to a staggering N52 trillion by the end of 2023. This revelation was made by Patience Oniha, the Director-General of…

Read More Arrow

World Bank : Over 100 million Nigerians living in poverty

An unprecedented 104 million Nigerians have slipped into poverty since the announcement of president Bola Ahmed Tinubu's economic reforms.   The World Bank's Nigeria Development Update (NDP) report, which was…

Read More Arrow

Nigerians groan as Naira scarcity persists nationwide

Few days into the Christmas and New Year celebrations, Nigerians are again faced with the scarcity of Naira notes. The development is coming despite the assurance of the Central Bank…

Read More Arrow

NNPC, partners commit to reduce methane emissions

Nigerian National Petroleum Company (NNPC) Limited has stated that it is committed to advancing the cause of methane emission reduction in oil and gas operations by collaborating with international partners.…

Read More Arrow