The Central Bank of Nigeria (CBN) has extended the Foreign Exchange (FX) sale period to Bureau de Change (BDC) operators until May 30. This aims to better serve retail market demands. The…
Category: Business
Naira depreciates by 1.4% as CBN extends FX sales deadline Grace
The Naira depreciated at the official market on Monday, trading at N1,495.60 to a dollar. Data from the FMDQ Security Exchange official forex trading platform revealed that the Naira lost N20.82. This…
Nigeria committed to balancing trade, strengthening local industry – Minister Trade
The Minister of State for Industry, Trade, and Investment, Sen. John Enoh, says the Federal Government is commitment to balancing trade through policies that support local production while managing imports. Enoh said…
Boost oil exploration with licenses, financing – Experts urge FG
Some oil and gas experts have called on the Federal Government to take decisive steps to boost crude oil supply in Nigeria. They emphasised the need for allocating more licenses, facilitating new…
BREAKING: Dangote Refinery Reduces Petrol Ex-Depot Price to N890
Dangote Petroleum Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from N950 to N890 per litre, effective Saturday, February 1, 2025. According…
Tariffs to stoke U.S. food inflation despite pledge to lower costs – Experts
U.S. consumers will face even higher costs for meat, vegetables, and fruit if President Donald Trump imposes tariffs on Canadian and Mexican imports, economists and food industry executives said. U.S. consumers are…
FG slams 3-month suspension on Max Air after Kano incident
The Federal Government, through The Nigeria Civil Aviation Authority (NCAA), has announced the suspension of operations by Max Air following Tuesday’s night incident involving the airline’s aircraft in Kano. A Max Air…
FG inaugurates fashion hub in Borno, targets 48,000 jobs
The Federal Government has launched a massive ultramodern fashion manufacturing hub in Maiduguri, which is expected to create over 48,000 jobs in Borno. Vice-President Kashim Shettima inaugurated the facility on Tuesday. He…
Lilypond Customs processes 30,979 containers, $2.1bn exports in 2024 – Controller
The Nigeria Customs Service, Lilypond Export Command, Lagos, says it facilitated the export of agricultural produce and manufactured goods valued at $2.1 billion in 2024. The command’s Area Controller, Comptroller Ajibola Odusanya,…
Governor Yusuf to Create Over 63,000 Jobs in Kano’s Garment Industry in 2025
The Kano State Governor Alhaji Abba Kabir Yusuf, is set to create 63,360 jobs for youth in the garment industry across the state’s 44 local government areas. Governor Yusuf disclosed this today…
Kano Gov’t Pledges Equal Opportunities for Business Growth
By Mustapha Salisu The Government of Kano State under the leadership of Governor Abba Kabir Yusuf has reiterate it commitment to provide an enabling playing field for businesses to thrive while ensuring…
Kaduna, 2nd PH refineries undergoing comprehensive overhaul – NNPC
The Nigerian National Petroleum Company Limited (NNPC Ltd.), says the 150,000 barrels per day (bpd) Port Harcourt Refinery and Kaduna Refinery are undergoing a comprehensive overhaul, designed to meet world-class standards. The…
JUST IN: Warri Refinery Resumes Operations
Barely a month after the commencement of operations at the 60,000-barrel-per-day Port Harcourt Refinery, the Nigerian National Petroleum Company Limited (NNPCL) has announced the operational restart of the 125,000-barrel-per-day Warri Refining &…
Foundation Partners with Tubless Makeup School to Train 100 Women
Tubless Makeup School, in collaboration with a foundation supporting orphans, has announced a free makeup training program for 100 women in Kano. According to the organizers, registration forms for the program are…
“Azman Air Refutes Allegations of Smuggling Aircraft to Iran, Pursues Legal Action
By Muhammad Kabir, Kano The management of Azman Air has strongly denied allegations of smuggling and selling its aircraft to the Islamic Republic of Iran, describing the claims as baseless and defamatory….
Jaiz Bank Concludes N10.04 Billion Private Placement, Meets CBN’s Revised Capital Requirements
Jaiz Bank has successfully listed N10.04 billion from its private placement on the Nigerian Exchange Group (NGX), following regulatory approvals from the Central Bank of Nigeria (CBN), Securities and Exchange Commission (SEC),…
WhatsApp, Facebook, Instagram down in global outage
On Wednesday evening, Downdetector shows big spikes for Instagram with 70,000 outage reports above average and Facebook, which had over 100,000 outage reports. Several users have taken to X, formerly known as…
Intervention fund: BOI disburse N22.89bn to 29 manufacturers
The Bank of Industry (BOI) says it has disbursed N22.89 billion out of the N75 billion manufacturing sector intervention fund to 29 manufacturers. Its Managing Director, Dr Olasupo Olusi, made this…
NDIC Advises Closed Banks’ Customers Yet To Receive Payment
By Abdullahi Yusuf The Nigeria Deposit Insurance Corporation (NDIC) has advised customers of closed banks yet to receive their payment to visit the bank with their evidence to claim their funds. The…
Gov. Mutfwang Celebrates Okonjo- Iwela’s Reappointment As WTO Director- General
From Tongnaan Bawa, Jos Plateau State Governor, Barr. Caleb Manasseh Mutfwang, has congratulated Dr. Ngozi Okonjo-Iweala on her unanimous reappointment as Director-General of the World Trade Organization (WTO). In a congratulatory message…
Jigawa Governor’s Wife Applauds JIWEN for Hosting First Women’s Trade Fair
From Mika’il Tsoho, Dutse The wife of Jigawa State Governor, Hajiya Amina Umar Namadi, has commended the Jigawa Women Entrepreneurs Network (JIWEN) and Jigawa Invest for organizing the first-ever women’s trade fair…
FG, KACCIMA, Extol Dangote Over Sponsorship Of Kano Fair
The Dangote Industries Limited has received a torrent of accolades for sponsoring the 45th edition of the Kano International Trade Fair, which opened at the weekend. Minister of Defence, Mohammed Badaru Abubakar and…
Dangote Pavilion Turns Focal-Point At Kano Fair
The pavilion of the Dangote Group at the ongoing 2024 Kano International Trade Fair has become Mecca of a sort, attracting a torrent of customers excited to make inquiries and purchases as…
JUST IN: Nigeria’s Unemployment Rate Drops to 4.3% in Q2 2024 – NBS
The National Bureau of Statistics (NBS) says Nigeria’s unemployment rate was 4.3 percent in the second quarter (Q2) of 2024. In a report on Monday, the NBS said the unemployment rate decreased…