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Monday, August 8, 2022
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CATEGORY

Economy

Nigeria is in a Deeper Hole Than it Was in 2015 – Sanusi

His Highness, Sanusi Lamido Sanusi, CON, Mohammadu Sanusi II, the Khalifa of the Tijanniyah Sufi Order of Nigeria, on Thursday, expressed his angst at...

Nigeria Fails to Benefit From Higher Oil Prices

 …as Exxon, Chevron report record profits Nigeria is failing to benefit from higher oil prices as oil firms (some of which) have major operations in...

We Are Working To Avert Further Naira Fall – CBN

The Central Bank of Nigeria (CBN) has assured that it would continue to make deliberate efforts in the foreign exchange sector to avert further...

Naira Crashes to N710 per Dollar in Black Market

The naira has crashed further in the parallel market, trading for N710 against the U.S. dollar. The national currency, which traded for N670 against the...

Nigeria ECA Further Shrinks To $376,000 From $35.7 Million

The balance in Nigeria’s Excess Crude Account (ECA) has reduced significantly from the $35.7 million it was as of June 2022 to $376,655.09 as...

Dangote Petrochemical Plant to Position Nigeria as Polypropylene Hub in Africa

The Dangote’s $2 billion Petrochemical Plant located in Lagos when fully operational will position Nigeria as one of Africa’s largest petrochemicals hubs and boost...

Petrol Subsidy to Gulp N6.72trn in 2023 as Debt Service Cost Hits N1.94trn

The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed yesterday sounded the alarm bells as she revealed that a total of N6.72...

NCAA Suspends Dana Air Operations with Immediate Effect

The Nigerian Civil Aviation Authority (NCAA) has suspended Dana Airlines’ Air Transport Licence (ATL) and Air Operator Certificate (AOC) indefinitely, with effect from midnight...

CBN Raises Monetary Policy Rate to 14%

The Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate (MPR) from 13 percent to 14 per cent. The latest development was disclosed...

Nigeria Government Borrowing from Central Bank Hits Record High of N19.6trn

The Nigeria Government borrowing from its Central Bank hit a record high of N19.6 trillion as at May 2022. As of the end of 2021,...

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