The naira, Nigeria’s currency remained weak on Wednesday, trading at between N1,498 and N1,505 per dollar at the parallel market, popularly called the black market, despite $24 billion inflows recorded in the first quarter of 2024. During an interview with Bloomberg on Tuesday, Olayemi Cardoso, governor of the Central Bank […]

The Central Bank of Nigeria has reported a $172m increase in direct remittances in one month. The latest CBN data analysed by PUNCH Online showed that the remittances totalled $138.56m in January, $39.14m in February, $104.90m in March, $193.31m in April, and $365.44 m in May 2024. The data indicates […]

The Federal Government, on Tuesday, declared that there was no importation of dirty fuel into Nigeria, countering the recent position of an official of the Dangote Petroleum Refinery. It declared this after meeting with oil marketers and local refiners of crude oil in Abuja, where parties at the meeting discussed issues about […]

Dangote Refinery contains minor fire at its effluent treatment plant  “We have swiftly contained a minor fire incident at our effluent treatment plant (ETP), today Wednesday, 26th June. There is no cause for alarm as the refinery is operating and there is no recorded injury or body harm to all […]

The combined average prices of tomatoes, garri and beans rose 205.36 percent in May 2024 compared with May 2023, according to a recent report by the National Bureau of Statistics (NBS). NBS’s price watch for selected food in May revealed that on a year-on-year basis, the average price of 1kg […]

Professional firm, PwC, has urged the federal government to halt plans for further increase in taxes as businesses and households still grapple with the effects of its different market reforms. PwC, in its latest economic outlook, “Navigating Economic Reforms”, said adding more taxes may lead to a decline in reinvestment and […]

Nigerians are making Canada their new home in record numbers. The country has now recorded its highest number of Nigerian permanent residents (PRs) in over a year. According to recent data from Immigration, Refugees and Citizenship Canada, up to 1,905 Nigerians permanently reside in Canada as of April 2024, its highest since […]

…Says Tinubu inherited N22.7 T in Ways and Means The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said the current prudent management of the federal government income has helped to stabilize the economy, this leading to less reliance on borrowing to fund government activities. The Minister […]

Professional services firm, PwC, has stated that the interventions by the Central Bank of Nigeria will stabilise the naira in the long run. That was indicated in its latest Nigeria economic outlook, titled ‘Navigating economic reforms’. PwC said, “Interventions by CBN may cause the Naira to stabilise in the long-term. […]

Barring any last-minute change of plan, the Federal Executive Council (FEC) is expected to meet today to deliberate on salient matters aimed at tackling some of the problems bedevilling the country. Daily Trust gathered that the meeting is expected to consider some serious matters of state including the vexed issue […]