A new report by the Nigeria Extractive Industries Transparency Initiative has indicated that Nigeria lost 362.28 million barrels of crude oil due to measurement errors, sabotage, and production adjustments between…
Category: BUSINESS
Stock Market Gains N121bn WoW Despite Interest Rate Hike
Amid interest rate hike by Central Bank of Nigeria (CBN) to 27.25 per cent at the last week’s Monetary Policy Committee (MPC) meeting, the Nigerian equities market gained N121 billion…
Credits to govt rose by over N11tn in August — CBN
The Central Bank of Nigeria disclosed that credit to the Federal Government increased by N11.33tn or 57.11 per cent to N31.15tn in August from N19.83tn in July. The latest Money…
FG targets 40% transport fare cut with CNG expansion
The Federal Government of Nigeria has announced a plan to increase compressed natural gas infrastructure and cut transportation fares by over 40 per cent. This initiative was formalised during a…
Stock Market Defies Odds, Gains N15.6 Trillion in Nine Months
Amidst turbulent economic challenges, Nigeria’s stock market has demonstrated remarkable resilience, posting impressive gains that underscored investor confidence and market vitality. Precisely, with just one trading day left to the…
Q2 2024: Rail Revenue Rises by 53.14% to N1.69bn
As Nigerians begin to gravitate towards rail transportation as a result of the high cost of airfares, the sector generated N1.69 billion revenue from passengers in the second quarter of…
Petrol landing cost drops to N981/litre
The landing cost of Premium Motor Spirit, popularly called petrol, has dropped to N981/litre, according to data released by the Major Energies Marketers Association of Nigeria on Thursday. The petrol…
Banks’ credit to private sector grows 33.6% YoY
Banks’ credits to the private sector, CPS rose 33.6 % Year-on-Year, YoY, to N75.5 trillion in July 2024 from N56.5 trillion in same period of 2023, indicating a bright prospect…
Electricity consumers lament DisCos’ exploitation amid service failures
Electricity consumers are unhappy over what they describe as exploitation by electricity distribution companies in the country. Issues such as delayed access to prepaid meters, requests for bribes, and illegal…
NNPCL, FIRST E&P, NCF move to restore local biodiversity
The Nigerian National Petroleum Company Limited (NNPCL) and FIRST Exploration and Petroleum Development Company Limited (FIRST E&P) Joint Venture, in partnership with the Nigerian Conservation Foundation (NCF), have announced the…
