Nigeria’s Net Foreign Reserves Drop to $3.7bn in 2022 – JP Morgan An American multinational financial services firm, JP Morgan, has estimated that Nigeria’s net foreign exchange (FX) reserves drop to $3.7 billion as of the end 2022. This is contained in the firm’s latest report...

FG to Revive Ajaokuta Plant, Develope Steel Sector - Audu The Minister of Steel Development, Shuaibu Audu, has vowed resuscitate the Ajaokuta Steel Company. During a press briefing in Abuja on Monday, Audu affirmed his commitment to restoring the moribund steel plant. According to him, he will...

Wike Vows to Demolish Illegal Structures, Revoke Land Allocations The Minister of the Federal Capital Territory (FCT), Nyesom Wike, says he will demolish all illegal buildings and structures in the territory as part of efforts to restore the Abuja Master Plan. Mr Wike stated this at...

In 7 Days, Stock Investors Lose N150bn   Investors on the Nigerian Exchange Limited, suffered N150bn loss last week as bears dominated trading, halting consecutive weeks of upward movement. The dip was attributed to sell-offs and profit-taking in high-priced and blue-chip stocks. The market sentiment was also attributed...

Daily Petrol Consumption Drops To 52m Litres   Average daily consumption of premium motor spirit (petrol) in Nigeria has dropped from 64,964,000 per day recorded on June 30, 2023 to 52 million. Daily truck out as at August 14 stands at 1,306 trucks carrying a total of...

How Nigeria Lost N249bn In July Due To Oil Output Shortage   Nigeria lost about N249bn crude oil revenue in July following a plunge in the country’s oil output by over four million barrels in the same month, latest oil production data seen on Sunday showed Data...