Inflation: Manufacturers' Unsold Goods Rise 45% to N272bn The Manufacturers Association of Nigeria (MAN) has revealed that the inventory of unsold finished products in the manufacturing sector rises significantly by 45.4 percent in the first half of 2023 (H1’23) to N271.96 billion from N187.08 billion...

Currency Outside Banks Hit N2.29trn in H2 - Report Currency Outside Banks, CoB, rose Month-on-Month (MoM) by N90 billion or 4.09 percent to N2.29 trillion in August from N2.2 trillion in July 2023. Currency Outside Banks, CoB has been on the increase since March reflecting the...

Afreximbank Engages Oil Traders in NNPCL $3bn Loan Funding The African Export-Import Bank, Afreximbank, has commenced talks with oil traders for the execution of the $3 billion emergency loan to Nigeria through the NNPC Limited. An authoritative oil market source told Reuters this yesterday. The loan comes...

E-banking Services Gulp N154bn from Bank Customers in Q1, 2023 Customers of nine leading commercial banks paid N154 billion fee for using electronic banking services in the first half of the year (H1’23). Details of the banks’ financial statements for H1’23 showed that the fee represents...

FG Spends N34bn on Vandalised Pipelines in 18 Months -Report The Nigerian National Petroleum Company Limited spent almost N34.47bn to repair and manage pipelines in 18 months due to the pipeline vandalism challenges faced in the country. The latest Oil and Gas Report released by the...

Food Prices up 31% in 1 Year - NBS The National Bureau of Statistics report says food prices jumped by 31 per cent in 12 months from July 2022 to July 2023. According to the analysis of NBS report titled ‘Selected Food Price Watch,’ Ebonyi and...