Money supply falls to N92.3tn in March – CBN Nigeria’s Money Supply has dropped marginally from N93.9tn in February to N92.3tn in March 2024, according to data from the Central Bank of Nigeria (CBN). Money supply refers to the total amount of monetary assets available in...

CNG Pump Dispensers Increase by 233% in Nigeria The deployment of dispensing pumps for Compressed Natural Gas, CNG, have risen by 233 per cent in six months since November last year. Coordinator and Chief Executive, Presidential Initiative on CNG, Pi-CNG, Mr. Michael Oluwagbemi, disclosed this while...

Naira Depreciates, Now N1,540/$ in Parallel Market The Naira yesterday depreciated in the parallel market to N1,540 per dollar from N1,530 per dollar on Wednesday. Similarly, the Naira yesterday depreciated to N1,533.99 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Data from FMDQ showed that...

FIRS Generates N3.94trn in Q1 The Federal Inland Revenue Service (FIRS) has fallen short of its tax revenue target for the first quarter of 2024, generating N3.94 trillion as against N4.8 trillion. Zacch Adedeji, the chairman of FIRS made this known while hosting a delegation from...

FG to Settle N130bn Debt to Gas Suppliers – Power Minister The Minister of Power, Adebayo Adelabu, has announced the readiness of the Federal government to payoff N130 billion to gas suppliers from over N2 trillion debt owed to them. Adelabu disclosed this at the ongoing...

NEC Resolves to Support MSMEs Growth The National Economic Council (NEC) yesterday deliberated on the state of the nation’s economy. It resolved to improve the situation, especially by supporting the growth of Micro, Small, and Medium Enterprises (MSMEs). NEC said by providing 49 percent of the...