The thirty-six states of the federation and the Federal Capital Territory have an outstanding liability of N1.72tn to the Federal Government in budget support facilities. This was disclosed in a statement by the state house in the aftermath of the National Economic Council held Thursday. A budget support facility typically refers to a financial arrangement […]

The naira fell, on Thursday, to N956/$ on the official Investor and Exporter forex window as dollar supply declined by 46.77 per cent. This is a 13.78 per cent decline from the N840.53/$ the naira closed trading on Wednesday according to data from the FMDQ Securities Exchange. Also, the turnover of dollars traded in the […]

Nigeria’s Gross Domestic Product remained subdued in the third quarter, growing marginally by 2.54 per cent year-on-year in real terms in the third quarter of 2023, the National Bureau of Statistics has disclosed. This growth rate is higher than the 2.25 per cent recorded in Q2, 2022, and higher than the second quarter 2023 growth […]

Winners have emerged in the hackathon session of the Second Edition of the Zenith Tech Fair, themed “Future Forward 3.0” A total sum of N59m in prize money was won by the successful contestant at the event which was held on Wednesday and Thursday, November 23-24 2023, at the Eko Convention Centre, Eko Hotels & […]

The Nigerian National Petroleum Company Limited, on Thursday, said it would end the importation of refined petroleum products by December 2024 as all the country’s refineries would be operational by then. It also projected that the national oil firm would grow its revenue to N4.5tn at the end of 2023 adding that the rehabilitation of […]

In what could be described as a joint commitment to turn around the socio-economic fortune of the country, the newly-created Federal Ministry of Marine and Blue Economy, yesterday, signed a performance bond with the heads of agencies and departments under the ministry for Ministerial Deliverables from 2023-2027. The minister, Adegboyega Oyetola, signed for the ministry while […]

The Nigerian Exchange Limited (NGX) has indicted 30 quoted companies for breach of its corporate governance rule in respect of filing their financial statements. The companies are  Fidelity Bank Plc, Access Bank Plc, FBN Holdings Plc, Unity Bank Plc, Ecobank Transnational Incorporated (ETI) Plc, Jaiz Bank Plc, Wema Bank, Guaranty Trust Company (GTCo) Plc, NPF Microfinance […]

The National Bureau of Statistics says the average retail price of a litre of petrol increased from N195.29 in October 2022 to N630.63 in October 2023. It made the declaration in its Petrol Price Watch for October 2023 released in Abuja on Wednesday. NBS stated that the October 2023 price of N630.63 represented a 222.92 […]

The market capitalisation of the Nigerian Exchange Limited slid by N35bn on Wednesday as MTN Nigeria (-0.63 per cent), Dangote Sugar (-1.64 per cent), Lafarge Africa Plc (-1.34 per cent), United Bank for Africa(-0.24 per cent) and FBN Holdings (-4 per cent) reduced in share value at the close of trading. Both the All-Share Index […]

The price of Liquefied Petroleum Gas, LPG, otherwise known as cooking gas, rose by 9.6 percent month-on-month, MoM, to N5,000.00 (5kg) in November 2023 from N4,562.51 recorded last month. Checks by Vanguard indicated that the current price was not fixed as some other gas stations were seen selling at N6,000 for a 5kg Cylinder in Lagos […]