The Centre for the Promotion of Private Enterprise, CPPE, says Nigeria’s inflation may moderate slightly in 2025. CPPE Executive Director, Muda Yusuf, disclosed this in a statement titled Nigeria Economic Review 2024 and Economic Outlook 2025. The group of economic experts noted that Nigeria’s inflation, which was at 34.60% in November 2024, may slow down….
As of the end of November 2024, the total turnover in the foreign exchange market reached $14.39 billion (N23.95 trillion). This information comes from the FMDQ Markets Monthly Report recently The report indicates that the combined FX turnover for both the spot and derivatives markets was N58.22 trillion and N0.81 trillion, respectively. Notably, the Spot…
President Bola Tinubu has set a N1500/dollar target in the 2025 Appropriation Bill presented to the joint session of the National Assembly on Wednesday in Abuja. The President said the objective was to enable the Federal Government to ensure the smooth implementation of the 2025 budget reports DAY which marks a reduction of about N200…
President Bola Tinubu on Wednesday presented the N47.90 trillion budget estimates for 2025, assuring the public that his administration would continue to stimulate the country’s economy through targeted fiscal stimulus packages, public expenditures, and non-inflationary spending. During the formal presentation of the 2025 budget, titled “Budget of Restoration: Securing Peace, Rebuilding Prosperity,” to a joint…
Amid the scarcity of cash in Nigeria, a Kogi State-born political activist and immediate past House of Representative candidate for Dekina/Bassa federal constituency, Usman Okai Austin, on Tuesday accused some Senior staff of commercial banks of selling money to Point of Sales, PoS, operators. Okai said it is now clear that PoS terminals are active…
The Nigerian Exchange regulator, NGX has issued 37 regulatory actions against NGX, about 16 years after NGX was regulated. This is according to a recent report by BrokerTraX, a compliance body for broker license holders. The report showed that from 2011 to 2023, 3,792 violations were documented, including 193 rule violations by securities companies. The…
International lender, the World Bank, is expected to meet and approve a $500 million loan to Nigeria on Friday to boost rural access and agricultural marketing in the country. This is according to information received on Thursday from the Washington-based institution. World Bank a decision on the loan application is expected by the Nigerian Government…
Nigeria’s indigenous firm, Seplat Energy Plc, has finally completed its acquisition of Mobil Producing Nigeria Unlimited, MPNU, from ExxonMobil at $800 million after over two years when the first deal was signed. The company disclosed this in a recent press release. According to the oil company, the purchase will add another 120,000 barrels to the…
The House of Representatives has expressed concerns over scarcity of cash across the country. It was then that the Green House of the National Assembly asked the Central Bank of Nigeria, CBN, to remedy the situation which has imposed considerable hardship on Nigerians. In one move Filed under Issues of Urgent Public Importance by Uguru…
The Naira is back to appreciation against the dollar at the official foreign exchange market 24 hours after it depreciated. Central Bank of Nigeria exchange rate data for Tuesday showed that the Naira strengthened to N1 525 to the dollar from N1 538.50 traded on Monday. This represents a gain of N13.5 to the dollar…
