Price of 50kg Rice Falls to ₦58,000 Nationwide – Report
The price of a 50kg bag of rice has dropped to around N58,000 in parts of Nigeria, especially in remote and border areas, following an influx of rice imports from…
SEC Raises Alarm: Ponzi Schemes Hindering Capital Market Growth
The Securities and Exchange Commission (SEC) has warned the public about the increasing threat of Ponzi schemes and other illegal investment platforms in Nigeria. According to the commission, these schemes…
New report: Nigeria’s Currency in Circulation has Dropped to N5 trillion, Raising Questions About Liquidity and Economic Activity
The total amount of naira in circulation fell to N5 trillion in March 2025, down from N5.04 trillion in February and N5.24 trillion in January, according to the Central Bank…
Money Supply Soars to ₦114tn Despite CBN’s Tight Monetary Policy
Nigeria’s money supply continued to rise in March 2025, hitting N114.22 trillion, despite strict monetary policies by the Central Bank of Nigeria (CBN), including a record high 50% Cash Reserve…
OPEC Slashes Global Oil Demand Forecast Amid Rising U.S. Tariffs
The Organisation of the Petroleum Exporting Countries (OPEC) has slightly lowered its oil demand growth forecast for 2025, citing rising global trade tensions and economic uncertainty. In its April Monthly…
NSIA Boosts Net Assets to N4.35 Trillion
The Nigeria Sovereign Investment Authority (NSIA) has announced its financial results for 2024, showing significant growth despite global economic challenges. The agency’s net assets nearly doubled, rising by 96% to…
CBN Moves to Curb Forex Speculation Amid Naira Decline
The Central Bank of Nigeria (CBN) has reiterated its commitment to stabilizing the foreign exchange market by identifying and eliminating individuals and businesses engaged in activities that weaken the naira.…
Naira Declines Further, Falls to ₦1,536/$ at Official Market
The naira weakened at the official market last week, losing 1.25% to close at ₦1,536.89/$ on Friday, according to the Central Bank of Nigeria (CBN). The currency had started the…
Fuel Prices May Rise as FG Halts Naira-for-Crude Sale to Dangote, Marketers Express Concern
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has criticized depot owners and filling station operators for stockpiling petrol in anticipation of a price hike. This comes after Dangote Petroleum…
Imported Petrol Landing Cost Drops to ₦797.66/Litre
The cost of importing Premium Motor Spirit (petrol) into Nigeria has dropped to ₦797.66 per litre, down from ₦817.82 per litre last week. This comes as oil marketers consider reducing…