Banks’ Borrowings From CBN Rise By 464% To N4.95trn   Banks’ borrowings from the Central Bank of Nigeria (CBN) Standing Lending Facility (SLF) rose year-on-year (YoY) by 464 percent to N4.95 trillion in the first quarter of 2023 (Q1’23) from N877 billion in the corresponding period...

Fuel Depots Shutdown Amid Scarcity   Motorists, workers and traders were yesterday caught unaware by the sudden reappearance of fuel scarcity across the states and the Federal Capital Territory (FCT). While at some bus stops, hordes of commuters struggled to board commercial buses, many filling stations were...

Report Reveals NGX Domestic Transactions Decline By 45%   The level of domestic transactions on the Nigerian Exchange Limited (NGX) has dropped by 45.30 per cent in 16 years, from N3.556tn in 2007 to N1.945tn in 2022. This was revealed in a report issued by the NGX...

Subsidy: NNPC Sells Petrol In Lagos For N488 And N537 In Abuja, PH N511   The long awaited price for petrol was effected by NNPC limited Wednesday morning providing clarity around prices post the removal of the controversial subsidy which cost almost $10bn annually. Economic Confidential also...

'N11trn Spent On Moribund Refineries In 13 Years'   The House of Representatives Ad Hoc Committee on the State of Refineries in the Country has said the Federal Government spent a total sum of N11,349,583,186,313.40 from 2010 to date. The Chairman of the committee, Ganiyu Johnson, however,...

Stock Market Gains N1.5trn After Tinubu’s Inauguration   The Nigerian stock market yesterday gave a rousing welcome to President Bola Ahmed Tinubu’s policy direction. Intense bargain-hunting for Nigerian equities rallied the market to a net capital gain of N1.51 trillion, its highest gain in a day in...