Naira continued to weaken against the U.S. dollar at the official market on Thursday. The free fall of the Naira is has now continued for four straight days.According to data published on the Central Bank of Nigeria’s website, Nigeria’s naira closed at N416.16 to a dollar on Thursday, […]
A United States’ Economist at John’s Hopkins, Stephen Hanke has kicked against the notion that Bitcoin is the currency for the future. Hanke, who is also an avid Buhari critic noted that the digital currency is not even a currency at all because of its volatility, as it […]
The Central Bank of Nigeria has announced plans to unveil a digital currency they said it would be called ‘e-Naira’ by October 2021. According to the CBN, the e-Naira is a legal tender equal to the value of the Naira and thus must be accepted as a form […]
The Federation Allocation Committee (FAAC) has released the VAT collected and allocated to state’s between January and August of this year. The data shows that the Federal Inland Revenue Service (FIRS) Offices in Lagos, Rivers and Oyo states recorded the highest collections. Lagos generated N429. 203 billion; Rivers, […]
According to the National Bureau of Statistics, the Nation’s gross domestic product has grown by 5.1% in the second quarter of 2021. In their latest GDP survey, the growth marks three consecutive quarters of growth since the abysmal growth recorded in the first two quarters of 2020. Details […]
International financial institution, World Bank has put Nigeria’s unemployment rate as of 2020 at 33.3%, five times as much as the 6.4% it was in 2010. The Bank which specialises in financing low income countries with loans and grants in order to stir economic development, said the economic […]
Paramount cement makers in Nigeria, Dangote has stated it looses alot of money focusing on supplying the Nigerian market. It also noted that the product sells cheaper in Nigeria than it does in Ghana. This was made known by the company’s Group Executive Director in charge of Strategy, […]
The Minister of Agriculture and Rural Development, Mr. Sabo Nanono has said that in 2020, Nigeria realised about $150 million from the export of coconut oil and its derivatives. Mr. Nanono made this known on Wednesday in Benin, the Edo State capital, during a training course organised for […]
Nigeria, Africa’s biggest economy turns out to be also one of the weakests, in terms of unemployment rates. According to a survey carried out by UK news agency, Bloomberg, a business, financial data, and news company based in London, Nigeria’s unemployment rates are very high. According to Bloomberg, […]
Oil marketers in Nigeria have called on the Federal Government to clamp down on petrol depots that have defiled the government order by selling oil above the stipulated price. The call was made on Thursday, by the President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Mr. […]
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