Petrol Landing Cost Hits N216, Daily Subsidy Now N4.64bn The landing cost of Premium Motor Spirit (petrol) imported into Nigeria has jumped to N216.31 per litre on the back of the recent increase in global oil prices and the depreciation of the naira against the...

Consumer Credit Hits N1.6trn In January The value of consumer credit in the Nigerian economy fell by four per cent to N1.593 trillion in January 2021. The Central Bank of Nigeria (CBN) revealed this in its monthly economic report for January. It noted that at the aforementioned...

We Are Working With Stakeholders To End Subsidy, Says Kyari  The Group Managing Director, Nigerian National Petroleum Corporation, Mele Kyari, on Tuesday disclosed that the Federal Government is currently engaging with stakeholders on the process that will lead to the removal of subsidy on...

Nigeria, Others Lose N380bn Annually To Gulf Of Guinea Piracy Nigeria and other countries in the Gulf of Guinea have lost N380 billion yearly to sea robbers and pirates between 2015 and 2019. Data presented at the Nigerian Admiralty Colloquium in Lagos also showed that...

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...