Naira To Sustain Depreciation In 2024 – Analysis Reveals
A grim forecast by Bloomberg L.P. has surfaced, signaling a continued slump of the Naira throughout 2024.
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Nigerians Grapple With Soaring Living Costs, Borrow N740bn Amidst Inflation Surge
Nigerians have borrowed approximately N740 billion from banks between January and September this year, according to the Central Bank of Nigeria's quarterly economic reports.
BUA Group Chairman Reaffirms Commitment To Slashing Cement Price To N3,500
Abdul-Samad Rabiu, Chairman of BUA Group, has reiterated the company's pledge to sell cement at N3,500 per bag starting January 2024.
Nigerian Naira Plummets To New Low, Hits N1,043.09/$ In Official Market
The Nigerian Naira plunged to a troubling low, closing at N1,043.09 against the dollar, marking a depreciation of 16.35% and signaling deep concerns for the country's economy just days before 2024.
NGX Bounces Back: All-Share Index Surge By 0.99% As MTN, Dangote Top Gainers
The All-Share Index surged by 0.99% to hit a historic high of 74,502.58 points, marking an upturn. Market capitalization also saw a notable climb, closing at N40.769 trillion, up from yesterday’s figures. The Nigerian stock market rebounded on Thursday, showcasing resilience after
Bearish Trends Persist In Post-Christmas Trading As ASI Dip By 0.34%
The first trading day post-Christmas saw the Nigerian Stock Exchange All-Share Index dip by 0.34%, closing at 73,768.64 points, marking a bearish start after the festive break. According to market analysis, the NSE market experienced a decline, shedding N143 billion in market
Dangote Refinery Moves Closer To Begin Full Operations As It Receives Third Crude Shipments Of 1 Million Barrels
The Dangote Petrochemical Refinery has received its third consignment of one-million-barrel crude oil cargo from Shell International Trading and Shipping Company Limited (STASCO), marking a progression in its quest to commence petroleum refining in Nigeria. “We’re more than ready and you will
eNaira Sees Surge In Transaction Volume, Yet Adoption Lags Behind
The Central Bank of Nigeria (CBN) has revealed 284.6% increase in eNaira transaction volume for August 2023, reaching N9.78 billion, as reported in its Monthly Economic Report. Despite this spike, eNaira’s ratio to Currency-In-Circulation (CIC) remains at a modest 0.37%. “eNaira experienced
Nigeria’s Riverside LNG To Supply Gas To South Africa
Nigeria-based Riverside LNG is engaging in discussions to supply gas to South Africa, marking the potential initiation of the first-ever gas deal between the two nations. Bloomberg reported on Wednesday that the company, led by Chief Executive Officer David Ige, who spearheaded
CBN Lifts Restrictions On Cryptocurrency Transactions In Banks
The Central Bank of Nigeria has announced a review of its restrictions on cryptocurrency transactions in the country.
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