What your CHANGE now means to us – Nigerians tell Buhari
•Plead he fights hunger too, not only corruption •Past govt failed to save for rainy day—FG •Says genuine effort being made to revamp economy By Read more
Nigerian economy
Nigeria has suddenly become poor – Buhari
Olalekan Adetayo, Abuja President Muhammadu Buhari on Thursday said Nigeria has suddenly become a poor country as a result of the sharp drop in price Read more
Saudi Arabia to work with OPEC and non-OPEC members to help stabilise oil markets
DUBAI Aug 11 (Reuters) – Saudi Arabia will work with OPEC and non-OPEC members to help stabilise oil markets, it said on Thursday a month Read more
South Africa overtakes Nigeria as Africa’s largest economy
• Experts fault assessment criteria Nigeria has lost its position as Africa’s largest economy to South African in dollar terms. This came as the rand Read more
Chevron Evacuates Staff As Protesters Ground Operations
Militants Bomb Oil Installations Shell Declares Force Majeure On Gas Supply United States major oil company, Chevron, yesterday evacuated workers from its Escravos tank farm Read more
No Plans To Further Increase Fuel Price – NNPC
Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has said that the Federal Government was not contemplating any further Read more
Nigeria to allow banks to write-off some bad loans this year
By Chijioke Ohuocha LAGOS (Reuters) – Nigeria’s central bank is to allow banks to write-off bad loans this year that they have already made provisions Read more
Dollar scarcity: Petrol price hike looms, marketers say
Nigerians should prepare for another increase in the pump prices of petrol, due to the continued scarcity of foreign exchange to finance the importation of Read more
More Job Cuts Loom As Shell, IOCs’ Debts Hit $138bn
More oil workers, specifically big shots, are expected to join over 20,000 workers sacked in the oil industry, as the debt woes of International Oil Read more
Customs impound over 60,000 rounds of ammunition
The Nigerian Customs Services has seized arms and ammunition imported into the country from the United States and Europe, on 17 different occasions at the Read more
Herdsmen/Farmers clash: I won’t tolerate acts of criminality- Buhari
Following the incessant clashes between herdsmen and farmers across the federation, President Muhammadu Buhari has said that his administration would not tolerate any acts of Read more
Nigerians condemn FG for dollar subsidy to Hajj pilgrims
Many Nigerians have condemned the Federal Government for selling forex exchange to Hajj pilgrims at a subsidised rate of N197 to the dollar. The Central Read more
Prices of rice, beans, maize soar at Lagos market
The prices of commodities like imported rice, maize , beans, palm oil, sorghum and others have continued to rise at the Mile 12 Market in Read more
Kerosene is N150 per litre from NNPC depots, says NUPENG
The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) says the Nigeria National Petroleum Corporation (NNPC) has fixed N150 per litre as the official Read more
Mbaka to Buhari: “there is hunger on the streets. I can’t keep quiet when things are going wrong.”
Many Nigerians on Wednesday overwhelmingly backed the Enugu Catholic priest and Spiritual Director of the Adoration Ministry, Enugu State, Rev. Fr. Ejike Mbaka, for his Read more
The naira continued its slide today, dropping to 390 against USD
The naira continued its slide on Wednesday, dropping to 390 against the United States dollar at the parallel market as foreign exchange scarcity persisted. The Read more
Nigeria’s Economic Woes Affecting African Nations
The nation’s dwindling economy, which the government has confirmed is technically in recession, is currently affecting other African countries. President of Benin Republic, Patrice Talon, Read more
Nigerian Banks’ Woes worsen following Continuous Economic Downturn
With concern growing over the impact of naira devaluation on lenders’ capital adequacy, leading financial experts, including the Chief Executive Officer, Financial Derivatives Company (FDC), Read more
Buhari’s Govt Ammased N2.2trn In One Year
President Muhammadu Buhari’s administration received a total of N2,203,573,573,563.25 from the Federation Account as allocation between June 2015 and May 2016. In a recent survey Read more
FG extends online N-Power job application
The Federal Government on Monday extended the timeline for the N-Power online jobs and training applications till the end of August. The Senior Special Assistant Read more
CBN directs banks to review foreign currency loans
Lagos (NAN) – The Central Bank of Nigeria (CBN) on Wednesday urged banks to review foreign currency denominated loans in line with the Prudential Guidelines Read more
Naira hits all time-low at bank rate 334.50 per dollar
[ Oyetunji Abioye – PUNCH ] The naira fell against the dollar at the interbank foreign exchange market to an all-time low of 334.50 on Read more
Fix the economy now, Gowon tells Buhari
[By Gbenga Olarinoye – Vanguard] Osogbo — Former Head of state , General Yakubu Gowon (retd), yesterday, took a retrospective look at the situation in the Read more
Nigeria Is Learning From Iran To Diversify Its Economy – Buhari
[Channels Television] President Muhammadu Buhari says that the Federal Government is understudying the experiences of countries like Iran who thrived in adversity to diversify the Nigerian Read more
Banking sector may face more challenges – Soetan
[PUNCH] The President, Institute of Chartered Accountants of Nigeria, Mr. Titus Soetan, says the various problems facing the economy may make the banking industry to Read more
Mr. President and an economy in recession
The Nigerian economy is in recession, or “technically in recession”, as the Minister of Finance, Kemi Adeosun, put it last week, and seems to be Read more
Practical solutions to Nigeria’s electricity crisis
[By Ikenna Ifedobi – Vanguard ] For the first time in the nation’s history, Nigeria, Africa’s most populous black nation and the bedrock of the Read more
CBN resumes sale of forex to BDCs
The Central Bank of Nigeria (CBN) has given a lifeline to Bureau De Change (BDC) operators by allowing them buy forex from international money transfer Read more
Sterling Bank dumps Keystone acquisition plan
Sterling Bank Plc has withdrawn its bid to buy Keystone Bank Limited over the price sought for the lender rescued bridge bank. “We felt we Read more
We’ll explore opportunities in gas, technology to resuscitate economy- Buhari
President Muhammadu Buhari Thursday in Abuja said his administration will continue to welcome innovative ideas in the gas, technology and agricultural sectors to reposition the Read more