Category: Business News

Without substantial FX management reforms, the World Bank predicts that Nigeria's foreign reserves will not experience any growth and remain unchanged in 2023. In its recently released report titled ‘Macro Poverty Outlook for Nigeria : April 2023’, the Bretton Woods institution said fiscal and external pressures are expected to persist due to...

The Naira, the official currency of Nigeria, has been on a remarkable upswing in recent days. Investors have been keeping a close eye on the currency's performance, and their confidence has not been misplaced. The Naira has experienced yet another surge in value at the official market, cementing its position as a strong and stable currency. This upward trend is a testament to the resilience of the Nigerian economy, and it bodes well for the country's future.  Data from FMDQ securities where Naira is officially traded showed that on Wednesday, it increased in value by 75 Kobo or 0.16 percent to trade at N462.50/$1 compared with...

The Nigeria Civil Aviation Authority (NCAA) has assured the public that the ongoing amendment of the Nigeria Civil Aviation Regulations (Nig.CARs) 2015 guarantees full refunds to passengers in case of...

Nigerian Breweries Plc has reiterated that access to foreign exchange remained a major impact on the company’s profitability in 2022, however, despite the challenges, it retained its leadership position in...

Professor Chukwuma Charles Soludo, the Governor of Anambra State, has given the commitment of the State Government to partner with the Manufacturers Association of Nigeria (MAN) and the organized private...

Major General Muhammadu Buhari (retd), the President of Nigeria, on Monday, said the Federal Government under his watch made over N203bn from the sale of petroleum prospecting licenses to 161...

Billionaire businessman Femi Otedola has further increased his stake in blue-chip companies with a recent acquisition of 5.52% in Transnational Corporation Plc. This acquisition, valued at N2.245 billion, was made...

The Nigeria Sovereign Investment Authority (NSIA) has reported impressive results for 2022, generating over 245,000 direct and 315,300 indirect jobs, and achieving a 10.5% growth in assets. Despite facing economic...

Textile imports into Nigeria have reached a 15-year high, doubling in just two years, despite efforts by the federal government to revive local production. Data from the National Bureau of...