Petrol Imports: Marketers Worry Over Dollar Shortage   While the landing cost of petrol has tumbled on the back of the sharp drop in crude oil prices, major fuel marketers are not keen to resume the importation of the product as access to dollar is seen...

CBN Stops Dollar Sales To NNPC   Central Bank of Nigeria (CBN) has stopped local and international oil companies from selling dollars to the Nigerian National Petroleum Corporation (NNPC). The apex bank said the move is in line with the its determination to improve foreign exchange supply...

Oil Declines To $28, Dollar Exchanges For N369   The price of Brent crude oil, the international benchmark, extended its decline on Tuesday, trading around $28 per barrel. Brent, against which Nigeria’s crude is priced, fell by $1.40 to $28.65 per barrel as of 8:15 pm Nigerian...

Naira Now N413/$ At Forward Market   The naira on Friday depreciated past N400 to dollar at the forward market after Nigeria recorded its first case of coronavirus. The naira was priced much weaker at N413.55 to the dollar in a year, compared with the N399.73 it...

Analysts Forecast Naira Devaluation To N400/$   The naira has been tipped to depreciate by between 10 and 20 per cent next year as the impact of falling crude oil prices and foreign exchange reserves persist. Local and foreign analysts predicted that a decline by 10 per...

Dollar Rates: Nigeria Records Zero Rise In Budget, Capital Spending In 10 Yrs – Data   In terms of the foreign exchange (forex) rates in the United States dollars equivalent, Nigeria may not have increased its budgetary and capital spending in the last 10 years, data...