Naira Gains, Exchanges At N757.51/$   The Naira on Tuesday appreciated against the dollar, exchanging at N757.51 at the Investors and Exporters window. The Naira gained by 2.23 per cent when compared with N774.78 for which it exchanged for the dollar on Monday. The open indicative rate closed...

Stock Market Maintains Downward Trend, Declines By N15bn   The stock market of the Nigerian Exchange Limited (NGX) yesterday declined by N15 billion, maintaining downward trend over investors profit-taking in Geregu Power Plc and 23 others. The NGX All-Share Index (ASI) depreciated by 27.06 basis points or...

Banks Deposit With CBN Hits N822.34bn In July   Deposit Money Banks (DMBs) deposited N822.34 billion with the Central Bank of Nigeria (CBN) in July 2023, the apex banks’ Financial Data posted on its website has revealed. The N822.34 billion represents 42 per cent Month-on-Month (MoM) increase...

Saudi Arabia Commits $20m for Rwanda’s Mega Electricity Project   The Kingdom of Saudi Arabia is providing a soft loan of $20 million to fund an ongoing electricity project in Rwanda, that would help boost the latter's socio-economic development, the Press Agency yesterday reported. Economic Confidential gathered...

Manufacturing Output Declines By N720bn - MAN The Manufacturers Association of Nigeria (MAN) has said due to a harsh economic environment, the value of manufacturing production decreased from N7.39tn in 2021 to N6.67tn in 2022, indicating a decline of N720bn. The Chairman, MAN, Apapa branch, Frank...

Senate Appoints Committee Chairmen on Power, Foreign Debts, Appropriation, 71 Others The Senate has unveiled the chairmen of its 74 full-standing committees. The committee chairmen that were announced on Monday include; Abaribe Eyinnaya, Power; Solomon Adeola, Appropriation; and Aliyu Wammako, Local and Foreign Debts. Others are Constitutional...