Economy

Naira maintains stability, closes at 364 per dollar

The naira closed flat at 364 per United States dollar on Wednesday, the same rate it closed on Monday and Tuesday. This is despite a $414m injection into the foreign … Continue reading

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Nigeria’s debt hits N19trn

​Nigeria’s total indebtedness​​ to foreign and local creditors ​now stands at N19.16tn,​ according to latest figures by​ the Debt Management Office​, DMO. Figures show that the total debt ​was N12.06tn​ … Continue reading

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CBN releases more dollars to strengthen Naira

Relentless to achieve convergence of rates between the interbank and Bureau de Change segments of the foreign exchange market (FOREX), the Central Bank of Nigeria (CBN) has injected another 190 … Continue reading

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Jonathan led Nigeria into recession – Soludo

A former governor of the Central Bank of Nigeria (CBN), Prof Chukwuma Soludo, has revealed how Nigeria’s economy got into recession. He attributed the economic woes facing Nigeria to the … Continue reading

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OPEC to legalize oil cut with non-OPEC – Barkindo

Following the success of the second joint Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC meetings, the two organizations are presently looking into legalizing their new found relationship, says OPEC … Continue reading

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Dangote to invest $1billion dollars in rice cultivation

The Dangote Group said  it will  invest $1billion dollars in rice cultivation in five states to boost food self-sufficiency in Nigeria. The group made this known at the Gateway Fair … Continue reading

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CBN pursues elusive naira stability

As the Central Bank of Nigeria steps up efforts to achieve naira stability through the convergence of the official and unofficial exchange rates. Nigeria, the biggest economy in Africa, is … Continue reading

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Massive job creation, solution to economic recession – Sultan, Sanusi

The Emir of Kano, Mallam Muhammad Sanusi 11 and the Sultan of Sokoto, Alhaji Sa’ad Abubakar 111, on Tuesday said for the country to come out of economic recession, the … Continue reading

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FG to reduce petrol importation to 60%

Kachikwu expressed government commitment to the plan to reduce importation of petroleum products from the present 95 percent to 60 percent by 2018. The Minister of State for Petroleum Resources, … Continue reading

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NNPC to resume oil exploration in Borno as peace returns to the State

The Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Alhaji Maikanti Baru, has said the corporation has concluded arrangement to mobilize heavy and sophisticated equipment to resume oil … Continue reading

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