CBN denies claims of withholding FX transfers
The Central Bank of Nigeria has denied claims that it is preventing Nigerians from transferring money into their accounts. The CBN also…
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Nigeria remains third-largest IDA debtor with $17bn debt – Report
Nigeria remains the third-largest debtor to the World Bank’s International Development Association, with its debt reaching $17.1 billion as of September 30,…
NACCIMA warns against unauthorised operations of NIBC-India in Nigeria
The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture has raised concerns with the Federal Government over the illegal operations…
FG to begin vehicle spare parts production
The Federal Government, through the National Automotive Design and Development Council, has announced plans to begin local manufacturing of 10 essential vehicle…
FG to rebase GDP, inflation data in 2025
The Nigerian government is planning to rebase its Consumer Price Index and Gross Domestic Product by 2025 to improve the accuracy of…
FX crisis stalls SMEs’ expansion, operators lament
Operators of Small and Medium Enterprises in Nigeria are expressing growing concerns about the feasibility of expanding their businesses due to a…
Subsidy removal ended fuel smuggling, says Ribadu
Nigeria’s National Security Adviser, Mal. Nuhu Ribadu, announced on Wednesday that the removal of the country’s fuel subsidy under President Bola Tinubu’s…
28m Nigerians lack access to formal financial services – CBN
The Central Bank of Nigeria announced on Tuesday that despite a significant reduction in the country’s financial exclusion rate, from 46.3% in…
NNPC ends fuel importation, to source locally
The Nigerian National Petroleum Company has ceased importing refined petroleum products and has begun sourcing fuel from local refineries, including the newly…
IPMAN signs agreement to buy petrol directly from Dangote refinery
The Independent Petroleum Marketers Association of Nigeria has secured an agreement with Dangote Refinery to directly purchase petroleum products, including petrol, diesel,…
FG to spend N5.4tn subsidy savings on projects
The Federal Government has announced that an estimated N5.4 trillion in savings from the 2024 subsidy removal will be allocated towards infrastructure…
Petrol landing cost falls to N971/litre – Report
The cost of landing Premium Motor Spirit, or petrol, in Nigeria has dropped by 20.34% over the past three months, now standing…