Naija247news | Tracking Nigeria Business News, Financial News

ABUJA, Oct 4 – Nigerian private sector activity grew for the second consecutive month in September, driven by an increase in new orders, particularly in...

Investigative News and Reports

Nigerian Citizen Sentenced to 142 Months in U.S. for Fraud Scheme Targeting North Dakota Law Firm

BISMARCK – Nigerian national Christopher Agbaje has been sentenced...

Investigative News and Reports

Former Glencore Oil Chief Faces Bribery Charges Tied to Nigerian Operations

LONDON – Alex Beard, Glencore’s former head of oil,...

The BigRead

The Big Read

Xi Wants Bigger Returns, Fewer Headaches From African Debt Deals

September 4, 2024 0

When Chinese President Xi Jinping welcomes African leaders to...

The Big Read

China-Africa Relations at a Crossroads

September 3, 2024 0

China’s $170 Billion Investment in Africa: Debt, Strategic Interests,...

The Big Read

China Captures 72% of DRC’s Cobalt Mines, $300M Zimbabwe Lithium Plant as Influence grows

September 3, 2024 0

China-Africa relations have seen significant growth over the past...

The Big Read

Ownership Dispute: Femi Otedola vs. Barbican Capital Over Largest Stake in First Bank

August 14, 2024 0

Explainer: Ownership Battle at Nigeria’s Oldest Bank What’s Happening? A significant...

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Consumer + Price

Food Inflation

Nigeria Reports Soaring Prices of Beans, Eggs, Bread, Rice, Yam, and Tomatoes in August 2024

Industrial Inflation

Benue Records Highest Cooking Gas Price at N7,000, Taraba Lowest at N5,600.67 in August – NBS

Retail & Households inflation

Benue Tops Petrol Prices at N941.24, Delta Records Lowest at N667.50 in August – NBS

Industrial Inflation

Core Inflation Edges Up to 27.58% in August Amid Rising Housing and Transport Costs

Benue Tops Petrol Prices at N941.24, Delta Records Lowest at N667.50 in August – NBS

Retail & Households inflation

Staple Food Prices Surge 141% in One Year

Retail & Households inflation

Diesel Prices in Nigeria Surge by 68.01% Year-on-Year, Reaching N1,415.06 per Litre in April 2024

Retail & Households inflation

Economists attribute Nigeria’s 28-year high inflation rate of 33.69% to collapse of security infrastructure

Analysis

MRS Oil Slashes Diesel Price to N1,050/Litre Nationwide Following Dangote’s Price Cut

Retail & Households inflation

Fuel Scarcity Grips Kaduna Metropolis, Black Market Prices Soar Above N1000 per Litre

Retail & Households inflation

Fuel Price Rise Again in Onitsha and Environs, Anger Brews Among Anambra State Residents

Retail & Households inflation

Multichoice Nigeria, hikes Dstv Gotv subscription fees by 25%

Retail & Households inflation

The Nigerian Economy

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NDIC Boosts Judicial Collaboration, Secures 100% Liquidation of N2 Trillion Uninsured Deposits

By Naija247news - October 1, 2024

Lagos State Urges Property Owners to Comply with Land Use Charge as Land Fraud Losses Reach N1.27 Trillion

By Naija247news - October 1, 2024

Restaurant Owners in FCT Call for Government Action as Fuel Prices Drive Food Costs Up by 50%

By Naija247news - October 1, 2024

CBN Partners with Microfinance Banks to Drive Financial Inclusion, Targeting N1.12 Trillion in Loans for MSMEs

October 1, 2024

World Bank Approves $1.57 Billion for Nigeria As Rising Flood Threats, as Calls for Accountability Grow

September 30, 2024

69.2% of Children in Kano State Face Multi-Dimensional Poverty, UNICEF Reports

September 28, 2024

Over 60% of Bank Customers Uninformed About Products, CBN Warns

September 28, 2024

FCT Chosen as Tax Harmonization Model; Committee Advocates Technology in Revenue Collection

September 28, 2024

Over 70% of Annual Insurance Contributions Come from Brokers, Says NAICOM Commissioner

September 28, 2024

Insurance Sector Faces Inflation Challenges as Claims Costs Rise

September 28, 2024

BRIPAN Calls for Collaboration with Access Holdings and Stanbic IBTC to Enhance Business Recovery Practices

September 27, 2024

Economic Diversification: Experts advocate exploration of non-metallic industry frontiers

September 27, 2024

Markets + Investing
Markets & Investing

GX Market Capitalisation Gains N57 Billion as All-Share Index Rises 0.10%

Emman Tochi - October 1, 2024

Lagos, Sept. 30, 2024 (NAN) — The Nigerian Exchange...

SEC Warns Against Illegal Fund Managers Amid Stock Market Fraud Losses of Over N1.23 Trillion

Babatunde Akinsola - October 1, 2024

Abuja, Sept. 29, 2024 (NAN) — The Securities and...

Nigerian Exchange Faces Sell-Offs from Tier-One Banking Stocks

Kudirat Bukola - September 28, 2024

: Zenith Bank and FBN Holdings Among Major Contributors Lagos,...

Nigeria’s Stock Market Decline Driven by MTN Nigeria, Oando, UBA, and Fidelity Bank

Charles Akpeji - September 27, 2024

Lagos, Sept. 26, 2024 (NAN) — The stock market...

We’ll provide regulatory support for SMEs to access capital – SEC

By Naija247news - September 27, 2024

By Rukayat Adeyemi Lagos, Sept. 25, 2024 (NAN) The Securities...

NGX Market Capitalization Rises by N79 Billion as FBN Holdings, UBA, and Fidelity Bank Drive Gains

Godwin Okafor, The Naija247news - September 23, 2024

Lagos, Sept. 23, 2024 — The Nigerian Exchange...

Monetary + Fiscal Policy

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Nigeria’s Central Bank to Automate Forex Trading by December; Naira Hits 1,634/USD

Emman Tochi - October 5, 2024

ABUJA, Oct 4 Nigeria’s central bank will automate...

Naira gains 2.24% against dollar at official market

By Naija247news - September 28, 2024

By Grace Alegba Lagos, Sept. 27, 2024 (NAN) The Naira...

Naira Plummets to ₦1,677 per Dollar Despite 50 Basis Point Rate Hike

Godwin Okafor, The Naija247news - September 26, 2024

Naira Hits Record Low Against Dollar Despite Interest Rate...

Lifting petrol from Dangote refinery ‘ll moderate FX pressure, says Cardoso

By Naija247news - September 24, 2024

By Kadiri Abdulrahman Abuja, Sept. 24, 2024 (NAN) The Governor...

Naira Depreciates to N1,610/$ in Parallel Market

Naira Appreciates to N1,600 /$ in the Parallel Market

Naira depreciates to N1,615 /$ in parallel market

Naira Weakens to N1,610/$ in parallel market

Naira Depreciates to N1,600/$ in Parallel Market

Naira depreciates to N1,590/$ in black market

Naira Appreciates to N1,564.48/$1 at the NAFEM Window

Naira Extends Loss at Official Market to N1,586/$1

Commodities

Nigeria’s Cocoa Exports Surge 304% in Q1 2024 Amid Strong Global Demand and Record Prices

Joseph Adam - September 28, 2024

Cocoa harvests are looking promising for the upcoming season,...

Nigeria’s Corn Acreage Drops to 5.1 Million Hectares for 2024/2025, Lowest in 14 Years

Babatunde Akinsola - September 3, 2024

Nigeria’s corn acreage has fallen to 5.1 million hectares...

Nigeria Leads African Nations in Building Gold Reserves to Cut Dependance on U.S Dollars

Godwin Okafor, The Naija247news - July 26, 2024

Nigeria, along with other African nations, is rushing to...

Nigeria’s Cocoa Processing Industry Slumps to 8% Capacity Amid Economic Challenges

Godwin Okafor, The Naija247news - July 25, 2024

Nigeria’s cocoa processing sector has dwindled to just 8%...

FG Targets 500,000 metric tonnes of cocoa production by 2025

Commodity Market Update: June 21, 2024

Nigeria Partners IFC to Expand Cocoa Operations with $23.3 Million Investment

Commodity Prices Show Mixed Performance as of June 14, 2024

Nigeria Gold Reserve Bill Passes Second Reading in Senate

Commodity Market Report: Weekly Performance and Trends

Global Commodity Prices: Mixed Movements Recorded as of 3:30 PM GMT+1, Friday, May 24, 2024

Ivory Coast Leads with 2.2 Million Tons of Cocoa Annually, Far Outpacing Nigeria’s 340,163 Tons

Oil + Renewable

Nigeria’s NNPC and Chevron Convert 5 Assets Under PIA, Targeting 165,000 bpd by Q4, 2024

In alignment with the provisions of Nigeria’s Petroleum Industry Act (PIA) 2021, state-owned NNPC and its Joint Venture partner, Chevron Nigeria Ltd (CNL), have successfully...

News Analysis

Nigeria’s Gas Fuels Equatorial Guinea’s Energy Hub as Chevron Tops $1.15 Billion Payments

Following ExxonMobil’s exit from Equatorial Guinea, Nigeria’s role as...

News Analysis

Nigeria Approves ExxonMobil’s $1.28 Billion Asset Sale to Seplat Amid $30 Billion in New Investments

ABUJA, Oct 1 – President Bola Tinubu announced...

Oil Markets

Exxon Mobil Proposes $10 Billion Offshore Oil Investment in Nigeria

ABUJA, Sept 26 – Exxon Mobil Corp (XOM.N) has...

Big Oil

Chevron Paid $6.25B Taxes in Nigeria, African States in 2023, Tripling U.S. Payments

Chevron Pays Nigerian Government Triple the U.S. Contribution in...

Companies + Finance
Companies & Markets

Access Bank Relaunches ‘W’ Initiative in Zambia and Botswana, Empowers 3.6M Women with N338.6 Billion

Banks & Finance

By Naija247news - October 1, 2024

Lagos, Sept. 30, 2024 (NAN) — Access Bank Plc has relaunched its ‘W’ Initiative in Zambia and Botswana to promote women’s empowerment across Southern...