•Strongest in over 3 yrs   By Emma Ujah, Abuja Bureau Chief   The Central Bank of Nigeria (CBN) yesterday said that the nation’s Net Foreign Exchange Reserve (NFER) rose by 479 per cent to $23.11 billion in 2024 from $3.99 billion in 2023.   The CBN disclosed this in   a statement explaining   that the increase reflected a substantial […]

•But revenue grew 34.8% to N8.6trn By Elizabeth Adegbesan The Federal Government (FG) recorded a N12.95 trillion budget deficit in 2024. This represents a 41 percent increase from its N9.16 trillion budgeted deficit for the review period. Details of data from the Central Bank of Nigeria, CBN, Quarterly Economic Reports for 2024 showed that the deficit […]

By Elizabeth Adegbesan The Naira yesterday appreciated to N1, 560 per dollar in the parallel market from N1,570 per dollar on Wednesday. But the Naira depreciated to N1,540 per dollar in the Nigerian Foreign Exchange Market (NFEM). Data published by the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira […]

By Elizabeth Adegbesan The Naira yesterday depreciated to N1, 585 per dollar in the parallel market from N1,580 per dollar last weekend. But the Naira appreciated to N1,533 per dollar in the Nigerian Foreign Exchange Market (NFEM). Data published by the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira […]

Nigeria’s manufacturers are counting their losses to the drastic macroeconomic changes being executed by the Federal Government, FG.

By Elizabeth Adegbesan The Naira yesterday appreciated to N1, 590 per dollar in the parallel market from N1,600 per dollar last weekend. However, the Naira depreciated to N1,549 per dollar in the Nigerian Foreign Exchange Market (NFEM). Data published by the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira […]

THE uncertainty caused by the ongoing tariff war between the United States and some countries have triggered the exit of foreign exchange outflow from Nigeria

Chief Operating Officer of Bi-Courtney Aviation Services Limited, Mr Remi Jibodu, has said Nigerian airlines will struggle to make profit despite implementation of the Cape Town Convention Practice Direction.

The Lagos Chamber of Commerce and Industry (LCCI) has said that the drop in inflation rate for January as reported by the National Bureau of Statistics (NBS) is only a reflection of different measurement and not an actual drop in prices.

NBS also said that the food inflation rate fell to 26.08 per cent in January 2025 from 39.84 per cent in December 2024.