Fuel Import Bill Explodes to N6trn in Five Months   Despite improved domestic refining capacity in Nigeria, major oil marketers have continued to import refined petroleum products, as they imported 6.38 billion litres of Premium Motor Spirit (petrol) and Automotive Gas Oil (diesel) in five months. But...

NGX Reverses Trend with N216bn March Gain   The Nigerian Exchange Limited (NGX) recorded its first gain in March as renewed investor interest drove the market capitalisation up by N216bn. Following the day’s gain, the total market capitalisation of the equity market now stands at N66.9tn. At the...

NCAA Reveals Nigerians Pay Highest Airfares in Africa   The Nigeria Civil Aviation Authority (NCAA) has complained about the treatment meted out to Nigerian passengers by some international airlines, insisting that Nigerians can not be paying the highest fee across Africa and still get maltreated. The aviation...

CBN Lowers T-Bill Rate to Below 18% to Stimulate Economic Growth   The Central Bank of Nigeria (CBN) has cut spot rates on Nigerian Treasury bills at the primary market auction on Wednesday in a bid to reduce its payment burden. The Apex Bank has been scaling...

Nigeria's Economic Woes Drive Foreign Investors to Dump N455bn Worth of Stocks   Foreign investors withdrew N455.62bn from the Nigerian stock market in 2024, significantly outpacing total inflows and reinforcing concerns about investor confidence despite the Central Bank of Nigeria’s efforts to stabilise the naira. Industry experts...

Bird Strikes Cost Domestic Airlines N3bn Revenue Loss Annually   Recent flight disruptions on domestic routes have been attributed to bird strikes, a persistent threat to flight operations. Despite ongoing efforts to mitigate the issue, bird strikes remain a significant challenge for Nigeria's aviation sector. The financial...