By Sodiq Adelakun The naira experienced a further decline on Wednesday, with its value against the dollar dropping to N1,300 compared to the previous day’s rate of N1,250 in the parallel market. Meanwhile, the British pound was being traded at…
The Nigerian government’s efforts to boost revenue will help reduce its loan-service ratio by almost a half in the medium-term, the head of the nation’s Debt Management Office said. President Bola Tinubu’s government is targeting revenue growth to help fund…
By Sodiq Adelakun The country’s total money supply (M2) increased to N66.4 trillion in September 2023, according to data released by the Central Bank of Nigeria. M2 represents the total amount of money available in the economy at a given…
All is now set for the Fidelity International Trade and Creative Connect (FITCC) billed for Houston, Texas in the United States of America. Labeled as FITCC Houston, the second edition of the international expo will take place from the 24th…
Mobil Producing Nigeria Unlimited, on Wednesday, withdrew the suit it filed against the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). This followed the presidential policy directives that strengthened Nigerian Upstream Petroleum Regulatory Commission (NUPRC)’s power to approve and regulate…
By Sodiq Adelakun The Naira has hit a record low of N1,235 per dollar on the parallel market, also known as the black market, due to strong demand. This represents a 2.06 percent (N25) decrease from the previous day’s rate…
The Federal government has disclosed plans to borrow N9 trillion from the debt market to fund 35 percent of next year’s budget, according to the Director General of Budget of the Federation, Mr Ben Akabueze. Speaking on the sidelines of…
By Sodiq Adelakun President Bola Ahmed Tinubu has received an interim report on a new tax policy aimed at reducing the tax burden on poor Nigerians. The current tax to Gross Domestic Product (GDP) ratio is less than 8 percent,…
During the 29th Nigeria Economic Summit (#NES29), Wale Edun, the Minister of Finance and coordinating minister of the Economy, revealed plans for the federal government to automate transactions in the entire foreign exchange market. Speaking during the first-panel session, Edun…
By Sodiq Adelakun The Federal Government’s debt to the Central Bank of Nigeria (CBN) has decreased to N4.36trillion after a significant portion of it was restructured in June 2023, according to provisional data from the CBN’s quarterly statistical bulletin for…
