Nigerians burdened by rising costs of living have been given a temporary reprieve as the House of Representatives has suspended the implementation of the Central Bank of Nigeria’s (CBN) controversial new ATM withdrawal charges. The decision, reached on Tuesday, comes amid widespread criticism that the policy would impose additional financial hardship on citizens already struggling … Read more
Oil marketers in Nigeria are raising alarm over the frequent fluctuations in fuel prices, warning that the instability is pushing many businesses toward collapse. The ongoing price war between Dangote Refinery and the Nigerian National Petroleum Company (NNPC) Limited has intensified the crisis, leaving fuel retailers struggling to stay afloat. Billy Gilly-Harris, the President of … Read more
Global oil prices took another hit as growing concerns over US import tariffs, increased OPEC+ production, and economic uncertainty weighed on investor sentiment. Brent crude fell to $70.30 per barrel, while West Texas Intermediate (WTI) slipped to $66.96, marking another turbulent week for the oil market. The ongoing decline, now stretching into multiple consecutive weeks, … Read more
The Nigerian Naira took another hit in the official foreign exchange market, trading at N1,498.98 to a Dollar on Monday. The latest figures from the Central Bank of Nigeria (CBN) confirm a depreciation of N6.49, representing a 0.43 percent decline compared to Friday’s closing rate of N1,492.49. The setback comes after the Naira recorded a … Read more
In a significant move that could ease the financial burden on millions of Nigerians, the Nigerian National Petroleum Company Limited (NNPC) has reduced the pump price of Premium Motor Spirit, also known as petrol, from N945 to N860 per litre. This adjustment comes shortly after the Dangote Petroleum Refinery lowered its ex-depot price, triggering a … Read more
Nestlé Nigeria Plc has made an early repayment of $20 million in inter-group foreign exchange debt, reflecting the company’s commitment to financial discipline amidst ongoing economic challenges. In a release filed on the Nigeria Exchange on Thursday, Nestlé confirmed the repayment, which was made ahead of schedule. This comes as the company continues to navigate … Read more
Stakeholders in Nigeria’s Special Economic Zones (SEZs) have called for stronger collaboration between Free Zones Regulatory Authorities and key government agencies to enhance operational efficiency and streamline regulatory processes. According to a statement, participants at the recently held 3rd SEZs Annual Meeting in Lagos urged regulatory bodies, including the Federal Inland Revenue Service, National Agency … Read more
Jobberman, in collaboration with industry and economic experts, has urged business executives to embrace high agency, strategic adaptability, and proactive planning to navigate the economic uncertainties of 2025. Speaking at the Jobberman Business Breakfast for C-Suite Executives in Lagos on Thursday, experts shared actionable strategies for business sustainability and growth amidst evolving challenges. Jobberman Nigeria’s … Read more
DLM Securities, a prominent market maker on the Nigerian Exchange Limited, launched its innovative e-trade platform for stock trading on Wednesday, February 26, 2025. The platform, designed to offer both retail and institutional investors a seamless, efficient, and user-friendly experience, aims to revolutionize stock trading in the Nigerian capital market. The e-trade platform is equipped … Read more
A FinTech executive and techpreneur, Tope Dare, has expressed concerns over the Central Bank of Nigeria’s (CBN) revised ATM withdrawal fees, set to come into effect on March 1, 2025. Dare warned that the new charges would negatively impact low-income Nigerians, while benefiting wealthier individuals. “This policy ultimately favors those who can afford to withdraw … Read more