Business
The rhythm of Nigeria's business world
Nigeria
Naira Drops to Record 980 per Dollar in Official Market, Reflecting Persistent Dollar Shortages and Economic Challenges
Photo by Sunday Abegunde on Unsplash
According to Reuters, Nigeria's naira has plummeted to an unprecedented low against the dollar, hitting 980 naira per dollar in the official market. This record devaluation mirrors the ongoing weakness in the parallel market and underscores the persistent...
South Africa is on the verge of a remarkable economic comeback that could see it surpass Nigeria as the largest economy on the African continent. As the South African economy continues to recover and grow, it is expected to topple Nigeria's long-standing dominance, a shift that carries...
Nigeria
Former Central Bank Deputy Governor Criticizes Nigerian Government's $1.5 Billion World Bank Loan
Former Deputy Governor of the Central Bank of Nigeria (CBN) and one-time presidential candidate, Kingsley Moghalu, has launched a scathing critique of recent financial decisions made by the Federal Government of Nigeria. His condemnation revolves around two key issues: Nigeria's pursuit of a...
Nigeria's inflation rate for September surged to 26.72%, marking a substantial 0.92% increase compared to the previous month's 25.80%. This data is sourced from the recently released Consumer Price Index (CPI) report by the National Bureau of Statistics (NBS).
The steep rise in inflation can be...
Photo by Zbynek Burival on Unsplash
Despite global efforts to control methane emissions, a potent greenhouse gas, emissions continue to rise. Fossil fuel production and operation contribute to over a third of these emissions. Although major oil companies, including Shell, claim to be reducing...
The federal government of Nigeria is on the brink of securing a substantial budget support facility amounting to $1.5 billion from the World Bank, announced Mr. Wale Edun, the Minister of Finance and Coordinating Minister of the Economy. This significant development was disclosed during the...
The Central Bank of Nigeria (CBN) has attributed the growing disparity between the official and black market exchange rates to the ban on 43 items implemented in 2015. In a press release titled "WHAT YOU NEED TO KNOW ABOUT CBN’S LIFTING OF FOREX RESTRICTIONS ON 43 ITEMS," the CBN explained that...
Image by PublicDomainPictures from Pixabay
In a significant move, the Central Bank of Nigeria (CBN) has lifted the eight-year ban on 43 items that were previously restricted from accessing foreign exchange, according to Business Insider Africa. This decision comes as a response to the...
Image by drpepperscott230 from Pixabay
TGS-PetroData Offshore Services Limited (TGS-PD) has been granted a Petroleum Exploration Licence (PEL) by the Nigerian Upstream Petroleum Commission (NUPRC) under the new Petroleum Industry Act (PIA) of 2021 - this is the first license to be granted under...
Image by 12019 from Pixabay
The West African fuel market is experiencing significant effects from removing petrol subsidies in Nigeria. The Organization of Petroleum Exporting Countries (OPEC) recently reported that Nigeria's decision to stop funding the subsidy has led to a 28% drop in fuel...
About Nigerian Bulletin
Nigerian Bulletin is your gateway to top news, specialized lifestyle topics, and a unique, curated marketplace. It connects Nigerians worldwide with crucial updates and opportunities and is ideal for engaging press releases, effective sponsored posts, banner ads, and product showcases.