Business
The rhythm of Nigeria's business world
Tomato and pepper prices in Jos, Plateau State, have reached alarming heights, affecting consumers and businesses. Despite being a key producer, the region grapples with scarcity and inflated costs. Stakeholders urge government action to address the crisis and restore stability to the market...
The Ogun government announces plans for oil and gas exploration by NNPC Limited in the state, aiming to become an oil-producing region soon. The move follows discussions with stakeholders, highlighting the Dahomey Basin's potential.
The Ogun state government has announced the commencement of...
![Today's Naira Rate [31-05-2024]: Naira Steadies at N1,490/$ in Parallel Market, Slips Further to N1,486/$ at Official Window](/data/attachments/204/204507-bd899ca0c24b3b3c73ca8044710ce26b.jpg)
Nigeria
Today's Naira Rate [31-05-2024]: Naira Steadies at N1,490/$ in Parallel Market, Slips Further to N1,486/$ at Official Window
Nigeria's naira remained flat in the parallel forex market but depreciated slightly at the official window, highlighting the currency's volatility amid economic pressures. Experts weigh policy options to address the forex crunch.
The Nigerian naira exhibited contrasting trajectories in recent...
The Nigeria Customs Service adjusts import duty FX rate to N1,474.69 per dollar, marking a 23.2% increase from the previous rate. This change, reflected on the government's trade portal, aligns with customs' practice.
The Nigeria Customs Service (NCS) has increased the foreign exchange (FX)...
Nigeria
Temporary Relief for Helicopter Operators as FG Suspends Landing Levies Following Stakeholders Concerns
The Nigerian government has temporarily suspended helicopter landing levies after industry pushback. Aviation Minister Festus Keyamo announced the suspension and formed a committee to review stakeholders' concerns
The federal government of Nigeria has temporarily suspended the collection of...
![Today's Naira Rate [30-05-2024]: Naira Weakens as Dollar Rate Hits N1475 in Black Market](/data/attachments/204/204472-bd899ca0c24b3b3c73ca8044710ce26b.jpg)
Nigerian Naira's latest exchange rates against the US Dollar at the black market (Aboki FX) on May 30th. Explore the buying and selling rates, revealing disparities compared to the official CBN rates. Stay informed about forex market trends and the impact on currency exchange in Nigeria.
On May...
Nigerian tax reform committee proposes a fixed N800 per dollar rate for customs import duties, sparking concerns over potential economic disruptions and higher costs for businesses and consumers.
The presidential committee on fiscal policy and tax reforms has sent shockwaves through Nigeria's...
Nigeria
Economic Woes Force Huggies Maker Kimberly-Clark to Shut Down in Nigeria, Posing Threat to Local Jobs
Kimberly-Clark, renowned for Huggies diapers, to cease Nigerian production despite $100 million investment, citing economic challenges. Closure reflects broader trend of multinationals divesting due to high costs and market pressures. Impact on consumers and economy as diaper industry faces...
![Today's Naira Rate [29-05-2024]:Nigerian Naira Reverses Course, Dives to N1,329.65/$1 Despite Recent Surge](/data/attachments/204/204434-6e202405f2f497d63440ce71bc64dc98.jpg)
Nigeria
Today's Naira Rate [29-05-2024]:Nigerian Naira Reverses Course, Dives to N1,329.65/$1 Despite Recent Surge
The Nigerian Naira faced a sharp decline, falling to N1,329.65 against the US Dollar despite recent gains and CBN interventions. The abrupt reversal raises concerns about currency stability and prompts questions about the effectiveness of central bank measures. Market observers remain vigilant...
Elon Musk regains the title of the world's richest person, surpassing Bernard Arnault and Jeff Bezos with a net worth of $209 billion. Musk's AI startup, xAI, raises $6 billion, bolstering his fortunes alongside stakes in Tesla and SpaceX. Challenges loom with Tesla stock options invalidated...
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