Naira Plunges at NAFEM, Parallel Market The Naira value weakened by 1.9% or N28.73 against the United States Dollar on Thursday, February 22 on the Nigerian Autonomous Foreign Exchange Market (NAFEM) despite unconventional approaches to ease the free fall of the currency. It closed at...

Oil Prices Rise As Houthis Strengthen Their Attacks On Thursday, oil prices rose as Iran-aligned Houthis stepped up their attacks in the Red Sea near Yemen while the market faced a large build in crude inventories in the world’s largest producer, the United States. During the...

Forex Crisis: Harsh Operating Environment Collapsed 70% Businesses – Oil Dealers Oil and gas dealers in the country have declared that the harsh operating environment in the downstream oil sector has led to the collapse of about 70 per cent of businesses in the industry,...

‘Grow Nigerian’ Agenda Will Accelerate SMEs Growth, SMEDAN Says The Director-General of the Small and Medium Enterprises Development Agency (SMEDAN), Charles Odii, has pledged to accelerate growth and prosperity for small businesses in the country through the agency’s ‘Grow Nigerian’ agenda. Odii gave the assurance when...

Investors Gain N165bn in Equity Market The equity market on Tuesday returned to the green zone following two days of bearish activities. Investors saw N165bn added to their wealth, having lost about N2.5tn during the two previous trading sessions. The Nigerian Exchange rose by 0.30 per cent,...

After Subsidy Removal Fuel Import Decline by 1billion Litres – NBS The country’s monthly petrol import was reduced by about 1 billion litres after President Bola Tinubu removed fuel subsidy in June, a report by the National Bureau of Statistics has shown. The NBS report indicated...