External Reserves Fall $77m in December The external reserves of Africa’s largest economy recorded a drop to the tune of about $77.23m or 0.23 per cent in December 2023 due to the lingering foreign exchange instability in the country. As of December 28, 2023, according to...

MAN Appeals to FG to Clear $7bn Debt to Boost Production  The Manufacturers Association of Nigeria has urged the Federal Government to clear the current $7bn Forex Backlog to boost production. it said 2024 may not be a good year for manufacturers and that it foresees...

NRC to Begin Night Operations in Q2 The Nigeria Railway Corporation has concluded plans to launch night operations before the second quarter of 2024. The Managing Director of NRC, Fidet Okhiria, disclosed this during an interview with the News Agency of Nigeria on Monday. He started, “What...

Consumer Credit Increases By 32% To N3.05trn In 9 Months   Consumer credit rose by 32 per cent to N3.05 trillion in the nine months to September 2023, 9M ‘23 from N2.31 trillion at the end of December 2022. The Central Bank of Nigeria, (CBN) disclosed this...

Dangote Refinery Receives Another One Million Crude Barrels   The Dangote Petroleum Refinery, on Monday, received the fourth shipment of one million barrels of bonny light crude oil, supplied by the Nigeria National Petroleum Corporation Limited. A statement from tne $20bn firm stated that the oil company...

NNPC Oil Revenue Remittance Raises Fresh Questions   The Nigerian National Petroleum Corporation Limited’s alleged failure to remit enough oil revenues to the federation’s coffers has sparked concerns about the organisation’s transparency. Experts suggest auditing the corporation’s books to enhance transparency and strengthen the naira. The Nigerian...