Jigawa, Akwa-Ibom Lead as States Record $910m Forex Gain   No fewer than 13 state governments recorded significant Foreign exchange revaluation profits worth N71.59 billion in three months. This was disclosed through data obtained from the third quarter budget implementation report (July to September) on each state’s...

Fuel Scarcity: Queues Return to Abuja as Price Increases Long queues for petrol resurfaced in Abuja and environs yesterday, amidst speculations about a possible pump price increase. Reports revealed that many independent marketers’ stations have already raised the price of premium motor spirit (PMS) popularly called...

Nigeria’s Inflation Hits 27.33% as Food Prices Soar   Nigeria’s annual inflation rate rose to 27.33 per cent in October from 26.72 per cent in the previous month, the National Bureau of Statistics (NBS) said Wednesday. The statistics office said the October 2023 headline inflation rate showed...

Price of Rice Increases 60%, Yam 45% as Transport Fare Spikes — NBS Report   The National Bureau of Statistics (NBS) yesterday, said the price of one kilogram (kg) of local rice sold loose increased year-on-year (YoY) by 60.5 percent to N757.06 in September 2023 from...

Foreign Investments in Manufacturing Hit $861m   Total inflow of foreign investments into the Nigeria’s manufacturing sector increased by 88.17 percent year-on-year (YoY) to $861.16 million in the first half of 2023 (H1’23) from $457.66 million in the corresponding period of 2022 (H1’22). This also indicates 75.47...

CBN Slashes Cash Mop by 82% to N150bn   In a bid to stimulate economic growth worsened by unprecedented rise in prices of goods and services, the Central Bank of Nigeria (CBN) reduced its cash mop up operation by 82 per cent to N150 billion in...