Lagos – The Nigerian stock market experienced a Nigerian stock market downturn on Monday following US President Donald Trump’s tariff announcements. Investors lost approximately N659 billion on the Nigerian Exchange Limited (NGX). The NGX All-Share Index (ASI) decreased by 1.23 percent. Losses in…
Enugu – Dangote Industries Limited reaffirmed its goal for Dangote Industries Nigeria self-sufficiency. The company focuses on key sectors like cement, agriculture, mining, and refining. Dr. Abayomi Shittu, Dangote Cement’s Regional Sales Director (Southeast), confirmed this goal. He listed the company’s sectors:…
Lagos – The Nigerian Naira continued its downward trend on Friday, April 4, 2025, hitting a rate of N1,600 per US dollar in the official Nigerian Foreign Exchange Market (NFEM). This significant Naira depreciation ends a roughly three-month spell where the currency seemed…
ABUJA, NIGERIA – Vice President Kashim Shettima urged Nigerians to invest their money within the country. He spoke at the 2nd Joint National Budget Workshop. Shettima calls for local investment instead of sending funds overseas. He noted Nigeria has a…
ABUJA, NIGERIA – President Bola Ahmed Tinubu appointed Mr. Ayo Sotinrin Bank of Agriculture Managing Director. The appointment takes effect immediately. This action is part of the government’s plan to improve Nigeria’s agricultural sector. The President expects Sotinrin’s skills to…
Abuja – The Central Bank of Nigeria (CBN) stated a circulating document about new N5,000 and N10,000 notes is false. The bank publicly addressed this widely shared CBN fake circular using its official communication channels. False Claims Addressed The CBN declared the CBN…
Lagos – The Nigerian National Petroleum Company Limited (NNPC) raised petrol prices effective April 2, 2025. This NNPC petrol price increase sets costs at N925 per litre in Lagos and N950 per litre in Abuja. The adjustment reflects ongoing shifts within Nigeria’s…
LAGOS – Motorists on Lagos Island experienced severe traffic gridlock Wednesday following the Independence Bridge closure. The bridge, also known as Mekwen Bridge, is closed for a two-month rehabilitation project. The Federal Controller of Works for Lagos, Mrs. Olukorede Kesha, confirmed…
Lagos – Six major Nigerian banks announced record earnings for the 2024 financial year, highlighting the growing public discussion around Nigerian banks profits customer complaints. The institutions reported a combined profit after tax of N3.41 trillion, marking a significant 62.38% increase from…
Abuja – The Nigerian National Petroleum Company Limited (NNPCL) prepares for its IPO. This action follows the Petroleum Industry Act 2021 mandate. Olufemi Soneye, NNPCL’s communications officer, confirmed the company is preparing. NNPCL held a consultative meeting with partners at its…
