Minister of Information and National Orientation, Mohammed Idris, has said that the Tinubu administration is committed to implementing macroeconomic reformsaimed at curbing inflation, easing the cost of living and stabilising the foreign exchange, as part of broader objectives of boosting…
Forex turnover on Tuesday rose by 460.52 percent/ to $147.81. This is as the Nigerian naira advanced against the dollar on Tuesday, January 16th, 2024 in both the official and black markets depreciating to N878.57 The Naira depreciated 4.72 percent…
Persistent inflation and foreign exchange challenges are expected to impact the fourth-quarter financial results of companies in the consumer goods sector in 2023, according to a report by Meristem Securities Limited. The report, titled ‘Consumer Goods Sector Update for December…
Following the declaration by the Federal Government to achieve between $650 – $750/Naira exchange rate by the end of the year, Forex experts have expressed skepticism on the actualisation of the target set. The Chairman of the Presidential Committee on…
By Sodiq Adelakun In light of the recent unification of foreign exchange rates, six Nigerian Ministries, Departments, and Agencies have earmarked a total of N244 million to mitigate anticipated foreign exchange losses. This financial strategy is detailed in the proposed…
Multichoice has jacked up the prices of its offerings in Nigeria days after announcing a $72 million loss in its financial statement for the third quarter of the year. Checks on the company’s reviewed price list showed a 20 percent…
…Promises to boost liquidity to ensure stability of prices By Matthew Denis The Central Bank of Nigeria (CBN) has restored access to forex to importers of rice, palm oil and 41 others items earlier prohibited. This was disclosed in a…
…Aims to strengthen financial stability By Sodiq Adelakun Commercial banks in Nigeria have been instructed by the Central Bank of Nigeria (CBN) to refrain from using their foreign exchange revaluation gains for dividends and operational expenses. The directive, which was…
Economic issues recently have become more windy with confusing side to the masses who just want to see the hardship of recent woes of the economy distilled for a drastic turnaround. Recently, the cost of petroleum products has made earlier…
The Natural Oil and Gas Suppliers Association of Nigeria (NOGASA) have urged the Federal Government to fix bad roads and encourage private and modular refineries to enable affordable petroleum products. NOGASA also called on the government to reduce Value Added…
