The National Bureau of Statistics (NBS) says Nigeria’s total merchandise trade stood at N11,722.44 billion in the fourth quarter of 2022. This is according to the NBS Foreign Trade in Goods Statistics Report for Q4 2022 released in Abuja on Friday. The NBS said total exports stood at N6,359.61 billion and total imports stood at...
Category: <span>Business</span>
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RACISM: NIGERIA REVOKES VISA OF BRITISH BUSINESSMAN
The Ministry of Interior has revoked the visa, residence and work permit of Roger Brown, a British businessman and CEO of Seplat Energy Plc. Seplat Energy Plc is an oil and gas exploration and production company based in Nigeria. The Minister of Interior, Rauf Aregbesola, in a letter said the decision followed testimony from several...
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DRIVERS, TRADERS, GO AGAINST S’COURT JUDGEMENT, REJECTS OLD 1000, 500, NAIRA NOTES.
The announcement of the new naira policy by the Central Bank of Nigeria, CBN, ushered in excitement and anxiety by Nigerians Although the policy brought untold hardship on Nigerians, some believed the policy will help curb rigging and vote buying during the 2023 general elections. This led to criticism and numerous court case against the...
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breaking: David Malpass to step down as World Bank president
World Bank President David Malpass on Wednesday said he would quit his role before his term ends. Malpass declared this, months after faulting the White House for failing to say whether he accepted the scientific consensus on global warming. According to Reuters, Malpass, who was appointed by former President of the United States, Donald Trump,...
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Nigeria’s daily oil production rises to 1.235 million barrels
Nigeria’s oil production increased month-on-month by 1.9 per cent from 1.235 million barrels per day recorded in December 2022 to 1.258 mb/d per day in January 2023. The Organisation of Petroleum Exporting Countries revealed this on Tuesday, in its February 2023 Monthly Oil Market Report. According to the report, Nigeria surpassed Angola that produced 1.050...
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UAE visa ban: Buhari asks Emirates Airline to resume flights operations
President Muhammadu Buhari has called on the United Arab Emirates, UAE, government to lift its visa ban on Nigerians. This is also coming even as he requested for the resumption of the suspended operations of Emirates Airline in the country. Buhari disclosed his position on Tuesday during a telephone conversation with the President of the...
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Nigeria Risks Slipping Into Recession Caused By Its Own Central Bank, Governors Warn Amid Naira Scarcity
The continuous scarcity of the N200, N500 and N1,000 new notes may lead to economic recession as well as severe food crisis, the Nigeria Governors’ Forum (NGF) has warned. This was contained in the Forum’s communique issued at the end of its meeting on Saturday. According to the governors, the naira scarcity has far-reaching implications...
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Naira gains further, exchanges at N461.10 to dollar
The Naira on Thursday exchanged at 461.10 to the dollar at the Investors and Exporters window. The figure represented an appreciation by 0.02 per cent compared with the 461.17 it exchanged on Wednesday. The open indicative rate closed at N461.25 to the dollar on Thursday. An exchange rate of N462 to the dollar was the...
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PETROL SHORTAGE: Owners charge over N200 per litre ex-depot price
DEPOTS owners, under the umbrella of Depots and Petroleum Products Marketers Association of Nigeria, DAPPMAN, weekend, continued to sell petrol at over N200 per litre to the independent marketers nationwide. The Federal Government had at a crucial meeting with downstream stakeholders last week, agreed to peg the ex-depot price at N172 per litre, with everyone...
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Petrol will be available in two weeks – IPMAN
The Independent Marketers Association of Nigeria has disclosed that the Premium Motor Spirit, known better as petrol, will be available and affordable soon. The IPMAN National Operations Controller, Mike Osatuyi, also said that marketers are putting measures in place to end the perennial fuel scarcity across the country. Osatuyi, who gave the assurance during an...