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Category: business news
Manufacturers Owe Banks N6.98 Trillion, Says CBN Report
From N5.56 trillion in January 2023 to N6.98 trillion in June 2023, the manufacturing sector's debt to Nigerian banks increased. The Sectoral Analysis of Deposit Money Banks' Credit from the…
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NNPC will supply six million barrels of crude oil to the Dangote Refinery.
In a major move, the Nigerian National Petroleum Company Limited (NNPC) will start supplying six million barrels of crude oil to Dangote Refinery and Petrochemicals Limited in December of this…
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Coffee Industry Eyes $2 Billion Revenue
The coffee industry in Nigeria is expected to generate $2 billion in revenue over the next two to three years, according to industry stakeholders. According to information gleaned from the…
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World Bank To Loan FG $3.45 Billion
The request for a $3.45 billion loan from the World Bank to pay for five items was approved by the Federal Executive Council on Monday. They consist of initiatives for…
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Tinubu Promises to Improve Foreign Exchange Liquidity
President Bola Tinubu, speaking at the 29th Nigerian Economic Summit, made several commitments to the business community and outlined his administration’s goals. He pledged to improve foreign exchange liquidity…
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Raw material export era is finished, according to Alake
Dr. Oladele Alake, Minister for Solid Minerals Development, reaffirmed the general policy of value addition by any enterprise with the necessary license and permissions to mine minerals, and he issued…
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Naira Depreciates to N1040 Per Dollar on the Exchange Market
The parallel market exchange rate for the naira is now N1040. The depreciation, according to Forex dealers who spoke with Nairametrics, is the result of heightened scarcity, with the influx…
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Naira is one of Africa’s worst-performing currencies, according to the World Bank
The Nigerian naira is one of the worst-performing currencies in Africa, according to the World Bank. Since a devaluation in mid-June, the currency, according to the study, has fallen by…
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Building Institute Urges FG To Reduce Cement Price
The Federal Government has been requested to intervene and lower the price of cement in the nation by the Lagos Chapter of the Nigerian Institute of Building. The institute made…
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Cement Cost Will Reach N9,000, Say Manufacturers
The Cement Producers Association of Nigeria has cautioned that the federal government's ongoing plan to install concrete roads will increase cement's price from its present level of N5,000 per bag…
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