Nigeria’s Trade Deficit Rises By 49% To $2.5bn     The nation’s trade deficit rose month-on-month by 49 percent to $2.5 billion in January from $1.69 billion in December last year even as foreign trade stood at $8.14 billion during the period. Also capital importation dropped by 31...

Forex: CBN Asks Exporters To Repatriate Proceeds The Central Bank Governor, Godwin Emefiele, has urged exporters to repatriate export proceeds in order to boost foreign exchange inflow in the country. He spoke while making a presentation at Zenith’s Bank’s 2021 export seminar on Tuesday. Emefiele...

FG Targets $504bn Goods In AfCFTA Deals The African Continental Free Trade Agreement (AfCFTA), when fully implemented, could afford Nigerian companies preferential access to African markets worth $504.17 billion in goods, the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, has said. Delivering his remarks at...

Higher Oil Prices Increase External Reserves By $409m The country’s external reserves returned to a growth path as it gained $409m in two weeks, latest figures from the Central Bank of Nigeria disclosed on Monday. According to the CBN’s figures on movement of reserves, the...

Manufacturing Sector Declines Further By 4.7 points — CBN The nation’s manufacturing sector has recorded further decline as the sustained Central Bank of Nigeria, CBN, latest sector report shows the Manufacturing Purchasing Managers Index (PMI) for January 2021 at 44.9 index points, a 4.7 points...

Oil Firms Borrowed N130bn From Banks In February – CBN     Operators in the downstream, natural gas and crude oil refining sectors of the Nigerian oil and gas industry borrowed N130bn from Nigerian banks in February amid the significant rise in global crude oil prices. The debt...