Dangote, MTN, others lose N1.7tn to naira depreciation
Dangote Group, Nestle Nigeria and MTN Nigeria, alongside four of Nigeria’s most capitalised companies, lost N1.7tn to the depreciation of the naira in 2023. According...
Business
FID on $25bn Nigeria-Morocco pipeline for Dec — Kyari
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari has said that the Final Investment Decision for the $25bn Nigeria-Morocco...
Power station collapses, blackout hits Abuja, Kogi
Some residents of the Federal Capital Territory, Abuja and some areas in Kogi State are currently experiencing power outages due to technical glitches. The two...
CBN holds 294th MPC meeting Monday
The Central Bank of Nigeria has announced the 294th meeting of the Monetary Policy Committee, a crucial gathering that shapes the nation’s economic policies. The...
Cable cut: Telcos pledge 100% voice, data service today
The Association of Licensed Telecommunications Operators of Nigeria has said voice and data services affected by the cut in the undersea fibre optics along the...
Pension funds fall by $6bn over naira depreciation
The value of the pension fund in dollar terms declined by 29 per cent to $14.39bn in January 2024 compared to $20.41bn in December 2023....
Equity market dips 0.40% on sell-offs
The Nigerian exchange declined by 0.40 per cent as investors reacted to the latest Consumer Price Index figures from the country’s statistics bureau. At the...
African ESG bonds hit $4.4bn, says report
The value of international loan securities issued by African entities to raise funds for investments complying with Environmental, Social, and Governance principles has hit $4.4bn...
PH refinery: Marketers eye fuel price reduction, ready to load
The Independent Petroleum Marketers Association of Nigeria and the Major Energy Marketers Association of Nigeria have projected a marginal reduction in the pump price of...
Naira depreciation pushes Nigeria’s imports to N35tn
Nigeria’s total imports grew to N35.9tn in 2023, from N25.5tn recorded in 2022, according to data by the National Bureau of Statistics. A breakdown of...