Nigeria Lost 167.2m External Reserves as Naira Falls Further The Central Bank of Nigeria recent data shows that Nigeria's external reserves lost $167.2m in July, as the naira fell further to the dollar. The report on movement of external reserves revealed that the reserves which ended...

Palliatives: Sanwo-olu Slashes Bus Fares by 50 Percent By Juliet Agoyi The Lagos State Government has slashed the cost of transportation on all its transport systems by 50 per cent as a palliative measure to cushion the effect of fuel subsidy removal. The state governor, Babajide Sanwo-Olu,...

We'll Energise MSMEs with N125bn - Tinubu President Bola Ahmed Tinubu has announced plan to energise the micro, small and medium-sized enterprises (MSMEs) with 125 billion naira as part of measures to strengthen the informal sector and make it more productive. Addressing the nation in a...

Petrol Price Rises By 20% Globally   Price of petrol may to rise further as international market data revealed that the commodity has gained 20 per cent. At the beginning of 2023, Brent crude traded around $78 per barrel. However, last week, the international benchmark hit $83...

Subsidy Removal: Nigeria Risks Losing Billions As State Govts Reduce Working Days   Nigeria stands the risk of losing billions of Naira in revenue over some state government’s plan to reduce working days by civil servants. This is coming after two states – Edo and Kwara reduced...

Currency in Circulation Now N2.26trn - CBN   Currency outside banks rose to N2.26tn at the end of June 2023, according to the latest figures from the Central Bank of Nigeria (CBN). According to figures obtained from the CBN, the currency outside banks rose by 185.68 per...