External reserves drop by $1.02bn – CBN report Nigeria’s foreign exchange reserves have taken a significant hit, dropping by approximately $1.02bn within 18 days as the Central Bank of Nigeria steps up efforts aimed at defending the naira. On March 18, 2024, the FX reserves stood...

Crude Oil Price Hits $91 per Barrel  Brent Crude price has surpassed the $90 per barrel threshold and surged past the $91 per barrel mark as of Sunday. Global crude oil prices reported a second straight weekly gain and hit six-month high levels as markets watched...

Transformers, Substations for $2.3bn Siemens Power Project Arrive Nigeria Electricity transformers and substations meant for the $2.3bn Siemens power project have arrived in the country as the project gains traction, Minister of Power, Adebayo Adelabu, said on Sunday. The development came a few months after the...

Nigeria Manufacturing Export Decline by 62% – Report The contribution of the manufacturing sector to Nigeria’s non-oil exports has declined by 62 percent in four yearsas operators battle rising expenses amid high borrowing costs and low consumer spending. Data from the most recent foreign trade report...

Why Critics of Hajj Subsidy Missed the Point – NAHCON Boss The Chairman of the National Hajj Commission of Nigeria (NAHCON), Alhaji Jalal Arabi, has justified the release of funds for pilgrims by federal and state governments to support intending pilgrims who were asked to...

Over 50,000 Nigerians to Perform 2024 Hajj - NAHCON The Chairman of the National Hajj Commission of Nigeria (NAHCON), Alhaji Jalal Arabi, has said despite the initial hiccups and uncertainties that surrounded this year’s Hajj preparations, more than 50,000 Nigerians have been cleared to perform...