Naira Gains by 0.6% in Parallel Market The naira gained strength on Monday, appreciating to N1,650 per dollar in the parallel market, as the U.S. dollar experienced its most significant weekly loss. This marked a 0.6 percent gain, or N10, from the N1,660 per dollar recorded...

CBN Sells N756bn Treasury Bills – Afrinvest The Central Bank of Nigeria (CBN) sold Treasury bills worth N756bn last week following a subscription at its primary auction. The apex bank offered N530bn across 91-day, 182-day, and 364-day maturities, with oversubscription primarily driven by long-dated bills. Out of...

Food Import Gulps $1.8bn in Nine Months – CBN The Central Bank of Nigeria allocated $1.87bn for food imports in the first nine months of 2024, representing a $235.11m increase compared to the $1.64bn recorded in the same period of 2023. This marks a 14.37 per...

CNG, Electric Vehicles Attract $700m Investment – FG The Federal Government has said that about $700m in investment was made in Compressed Natural Gas and electric vehicles last year. The Special Adviser on Energy to President Bola Tinubu, Olu Verheijen, said this was made possible by...

Report Reveals Nigeria’s 2mbpd Oil Plan May Cause Showdown With OPEC   A recent report by Bloomberg suggests that Nigeria's ambitious plan to boost crude oil production to 2.062 million barrels per day may put it at odds with the Organization of the Petroleum Exporting Countries (OPEC)....

CBN Survey Reveals Optimistic Outlook for Naira in 2025   According to the Central Bank of Nigeria's (CBN) December 2024 Business Expectations Survey (BES), a significant majority of respondent businesses expressed a positive outlook on the nation's macroeconomic prospects, indicating a growing sense of optimism among Nigerian firms. Precisely,...