nigerian economy
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Nigeria Peter Obi Slams Tinubu's Government for Burdening Nigerians with Cybersecurity Levy
Former presidential candidate Peter Obi criticizes the Tinubu-led government's imposition of the Cybersecurity Levy, denouncing it as burdensome on Nigerians already grappling with economic hardships. Obi highlights the contradiction between this move and the government's pledge to streamline... -
![Today's Naira Rate [07-05-2024]: Naira Slips to N1,415/$ in Parallel Market Amid Economic Uncertainties](/data/attachments/203/203712-147ab142f8cf48479284e57b3d23fc38.jpg)
Nigeria Today's Naira Rate [07-05-2024]: Naira Slips to N1,415/$ in Parallel Market Amid Economic Uncertainties
Amid economic uncertainties, the Nigerian Naira has depreciated to N1,415 per dollar in the parallel market, while in the Nigerian Foreign Exchange Market (NAFEM), it stands at N1,416.57. This decline reflects ongoing challenges in the economy, impacting exchange rate stability and financial... -
![Today's Naira Rate [04-05-2024]:Naira Holds Steady at 1,380 Against Dollar Amid Currency Market Turmoil](/data/attachments/203/203601-8457c57119a478bc5717b11aa4a694ef.jpg)
Nigeria Today's Naira Rate [04-05-2024]:Naira Holds Steady at 1,380 Against Dollar Amid Currency Market Turmoil
Amidst mounting demand and scarcity, the naira holds firm at N1380/$1 in Nigeria's parallel market. Traders report high demand driven by individuals and importers, maintaining a flat rate amidst fluctuating currency values. Concerns rise over the impact of dollar shortages on the country's... -
Nigeria Nigerians Speculate on Political Consequences of Aliko Dangote's Naira Devaluation Statement
Aliko Dangote's statement on the naira devaluation has sparked varied reactions among Nigerians. While some attribute the economic challenges to the previous administration, others speculate about Dangote's interests in the matter, citing alleged benefits he may have received during the period... -
![Today's Naira Rate [29-04-2024]: Naira Weakens Further: BDC Operators Face Challenges as Dollar Hits N1,350](/data/attachments/203/203446-6e202405f2f497d63440ce71bc64dc98.jpg)
Nigeria Today's Naira Rate [29-04-2024]: Naira Weakens Further: BDC Operators Face Challenges as Dollar Hits N1,350
Amidst ongoing economic uncertainties, the Nigerian naira witnessed a further depreciation against the US dollar, reaching N1,350 per dollar at the parallel segment of the foreign exchange (FX) market on Monday. This marked a 2.27 percent decline from the rate of N1,320/$ recorded on April 26... -
Nigeria Bag of Rice Allegedly Price Plummets: Nigerians React to Reported Drop from 84K to 60K
Recently, news circulated that the price of a bag of rice in Nigeria dropped from 84,000 Naira to 60,000 Naira, sparking various reactions across social media platforms. Nigerians took to Twitter to express their sentiments, with a wide range of responses reflecting skepticism, disbelief, and... -
Nigeria Back and Bigger: El Rufai Confirms Nigerians' Concern On Fuel Subsidy Under President Tinubu
Former Kaduna State Governor, Mallam Nasir El-Rufai, has made startling allegations, claiming that the Bola Tinubu-led Federal Government is subsidizing Nigerians' fuel. Addressing journalists in Maiduguri, El-Rufai asserted that the government is now paying more for fuel subsidies than before... -
![Today's Naira Rate [13-04-2024]: Nigerians Question When Prices of Goods Will Drop as Naira Hits N1,070 to $1](/data/attachments/202/202782-8457c57119a478bc5717b11aa4a694ef.jpg)
Nigeria Today's Naira Rate [13-04-2024]: Nigerians Question When Prices of Goods Will Drop as Naira Hits N1,070 to $1
As the Nigerian Naira reached a staggering N1,070 to $1, many citizens took to social media to express their concerns about the increasing exchange rate and its impact on the cost of living. Despite the significant devaluation of the currency, there has been no noticeable decrease in the prices... -
Nigeria EFCC Vows to Jail Offenders Charging in Dollars: Crackdown on Currency Violations
The Economic and Financial Crimes Commission (EFCC) has issued a stern warning to various establishments, including schools, supermarkets, and hotels, cautioning against the use of the dollar or any foreign currency for transactions within the country. In the latest edition of the commission's... -
Nigeria Peter Obi Calls for Electricity Tariff Subsidies to Alleviate Strain on Less-Privileged Nigerians
Former presidential candidate of the Labour Party (LP), Peter Obi, has urged the Federal Government to introduce subsidies on electricity tariffs to alleviate the financial burden on less-privileged Nigerians. Speaking during a visit to Bauchi State, Obi emphasized the importance of targeted... -
Nigeria Traders on Edge as Customs FX Rate Surges to N1,330/$, Exceeding Official Market
Recent developments in Nigeria's foreign exchange landscape reveal a noteworthy surge in the customs exchange rate for import duties, exceeding the official market rate. The rate for cargo clearance currently stands at N1,330.36 per USD, significantly higher than the official market's N1,278/$1... -
Nigeria Currency Traders Cheer as Naira Strengthens to N1,250 Per Dollar
The Nigerian naira saw an appreciation to N1,250 per dollar in the parallel foreign exchange market on Monday, marking a 0.43 percent increase from the N1,280 recorded on March 29. Bureau de Change operators in Lagos quoted the buying rate of the dollar at N1,230 and the selling price at... -
Nigeria Naira Gains: Nigerians Demand Immediate Price Reduction In Goods and Services
In response to the fluctuating dollar exchange rate, Nigerians are expressing frustration over the reluctance of sellers to immediately reduce prices despite the recent decrease in the value of the dollar. The sentiment stems from the observation that when the dollar surges, sellers swiftly... -
Nigeria Nigeria's Central Bank Initiates Dollar Sales to BDCs to Boost Forex Liquidity
Amidst Nigeria's evolving economic landscape, the Central Bank of Nigeria (CBN) has taken significant steps to bolster liquidity in the foreign exchange market, signaling a potential shift in the nation's currency dynamics. In a recent circular addressed to Bureau De Change operators (BDCs)... -
Nigeria Binance Ban: Government Spokesman Onanuga Warns Nigerians Platform Could Destroy THE ECONOMY
Amidst growing concerns over the impact of cryptocurrency trading on Nigeria's economy, Presidential spokesman Bayo Onanuga has issued a stern warning against the popular exchange platform Binance, alleging its potential to dismantle the country's financial stability. Speaking on a televised... -
Nigeria Dano Milk Shock: Nigerians Outraged as Price Soars to 11k, Reflecting Economic Struggles
In the heart of Ikeja, the recent spike in the cost of Dano Milk has left Twitter influencer Yeankhar (@Yeankhar) lamenting, with prices soaring from less than 5k to a staggering 11k. This surge adds to the ongoing challenges faced by Nigerians grappling with the increasing cost of living, where... -
Nigeria Nigerians Divided Over FG's Announcement of Cash Transfer to 12 million People
In response to the escalating cost of living and the hardships faced by millions, the federal government is gearing up to restart direct cash transfers, targeting the poorest and most vulnerable Nigerians. The revelation came from the Minister of Finance and Coordinating Minister for the... -
Nigeria Economic Struggles: Nigerians Echo PDP's Concerns, Urging Action from Tinubu
PDP governors have called on President Bola Tinubu to find sustainable solutions to the nation's challenges or consider stepping down. Emphasizing that the APC sought power to address Nigeria's problems, not exacerbate them, the governors expressed concern over the universal impact of hardship... -
Nigeria Nigerian Breweries Reports N106 Billion Loss in 2023 Amid Economic Headwinds
In a stark contrast to its 2022 financials, Nigerian Breweries Plc has reported a staggering net loss of N106 billion for the fiscal year 2023, marking an alarming 860 percent increase in losses. The audited financial results, disclosed by Company Secretary Uaboi Agbebaku, unveil a challenging... -
Nigeria Hostile Reaction to President Tinubu's statement On Security and Economy as Nigerians Point Out their New Realities
President Tinubu, after a meeting with state governors and key officials, reaffirmed his commitment to addressing food security challenges in Nigeria. He emphasized the need for home-grown solutions, promoting local food production over importation to curb rent-seeking and fraud. Tinubu urged...
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