CBN Reveals Reasons Behind Oil Revenue Crash The Central Bank of Nigeria (CBN) has attributed the significant decline in oil revenue for the third quarter of 2024 to ageing pipeline infrastructure and operational inefficiencies. According to the apex bank’s latest economic report for the third quarter...

Why Forex Market Turnover Hit N23.9tn The FMDQ Exchange reported a significant rise in turnover in its foreign exchange market for November 2024, totalling N23.95tn ($14.39bn). This is according to the FMDQ Markets Monthly Report obtained on Wednesday. FMDQ is a financial market infrastructure in Nigeria that...

Financial inflows Increased by 335% in Q3 – CBN Nigeria’s economy experienced a notable boost in financial inflows of 335 percent increase in the third quarter of 2024, reaching $6.44 billion compared to $1.48 billion in the preceding quarter. The increase, as highlighted in the Central...

Nigeria Receives $285m Foreign Capital from African Investors, Says NBS The National Bureau of Statistics says African investors contributed a notable $285.11m in foreign capital to Nigeria in the third quarter of 2024. This contribution accounted for 22.76 per cent of the total foreign capital inflow...

2025 Budget: FG to Allocate N1tn for Special Power Interventions The Ministry of Power plans to allocate a significant portion of its N1.2tn 2025 budget towards financing a range of multilateral and bilateral loan projects to enhance electricity generation and distribution nationwide. It allocated N810bn to...

W’Bank Stops Loan Fees to Ease Borrowing for Poor Nations  The World Bank has announced the removal of several loan fees to make borrowing more affordable for vulnerable countries. The move is part of broader efforts to expand financial capacity and address urgent global challenges, including...