CBN Devalues Naira, Peg $1 to N380 Across board
The Central Bank of Nigeria has technically devalued the Naira by pegging the exchange to the dollar at N380 across all the FX market. In a circular released on Friday,…
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Private Marketers Are Yet to Implement the New Pump Price of Petrol
A survey conducted in Lagos on Thursday morning showed that the Private Fuel Marketers have yet to reduce the pump price of Premium Motor Spirit (petrol) to N125 per litre…
Continue readingFG Reduces 2020 Budget by N1.5tn
Responding to the impact of coronavirus on the economy, the Federal Government of Nigeria on Wednesday announced a reduction in the 2020 budget by N1.5tn. Last week Monday, President Muhammadu…
Continue readingCrude Oil Price Drops To $28, As Economic Council Warn of Recession
The crude oil price of Brent grade continues to decline at the International market on Tuesday, the brent was traded around $28 per barrel. Brent oil fell by $1.40 to…
Continue readingHistory as First Maersk Line’s Direct Service Ship Berths At Onne Port
History was made, when the West Africa Container Terminal (WACT) received the First Maersk’s direct service container ship from Far East at the Onne Port in Rivers State. The vessel,…
Continue readingCBN Extend Loan Repayment for Businesses by One (1) Year – Reduces Interest rate
The Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele on Monday announced some new policy measures to tackle the impact of coronavirus on businesses and the country’s economy. Mr…
Continue readingCBN Extend Loan Repayment for Businesses by One-Year – Reduces Interest rate
The Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele on Monday announced some new policy measures to tackle the impact of coronavirus on businesses and the country’s economy. Mr…
Continue readingFederal Government Suspend plan to borrow $22.7 Billion Loan
The Federal Government of Nigeria has suspended its plan to borrow $22.7 billion loan due to current realities ravaging the global economic landscape. The Minister of Finance, Mrs. Zainab Ahmed…
Continue readingLoss of $8.63bn in Six Months May Slide Nigeria’s Economy into Another Recession
Should the price of Crude Oil stay around $30 per barrel range as predicted, a whopping sum of $8.63bn may be wiped from Nigeria’s expected earning in six months. Economic…
Continue readingNigeria Ports Witness High Cargo Traffic Over Benin Republic Border Closure
The operator of Nigeria’s largest container terminal APM Terminals is expanding operations to deal with a sharp increase in cargo traffic since the government closed the county border with Benin…
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