CBN Disburses N41.2bn To Cut Wheat Imports   The Governor of the Central Bank of Nigeria, Godwin Emefiele, has said the bank has disbursed N41.2bn under its intervention schemes to cut wheat production. Speaking after the Monetary Policy Committee meeting in Abuja...

NERC Renews NBET’s Licence For Three Years   The Nigerian Bulk Electricity Trading company on Tuesday announced that its operating license had been renewed for additional three years by the Nigerian Electricity Regulatory Commission. It said in a statement issued by the...

Nigeria’s Trade Deficit Drops By 61% To $340m   The nation’s trade deficit fell year-on-year (YoY) by 61 per cent to $340 million in July 2021 from $880 million in July 2020. However, receipts from crude oil and gas exports rose by...

FG To Replace Fuel Subsidy With N5,000 Transport Grant To Nigerians The Minister of Finance, Budget and National Planning, Zainab Ahmed, has disclosed that the Federal Government will remove fuel subsidy by 2022 and replace it with a N5,000 monthly...

CBN Retains Lending Rate At 11.5%   The Monetary Policy Committee of the Central Bank of Nigeria has left the Monetary Policy Rate unchanged at 11.5 per cent. The CBN Governor, Godwin Emefiele, disclosed this after the committee’s two-day meeting in Abuja...

Capital Inflow Crashes By 80% As Foreign Investors Shun Nigerian Market   Capital inflow to Nigeria has crashed by 80 per cent in two years, the Central Bank of Nigeria reports have indicated. Specifically, capital inflow to Nigeria fell from $17.1bn in...