CBN Maintains Nigeria’s Interest Rate at 27.50%
The Central Bank of Nigeria’s Monetary Policy Committee has decided to keep the country’s interest…
CBN Maintains Nigeria’s Interest Rate at 27.50%
The Central Bank of Nigeria’s Monetary Policy Committee has decided to keep the country’s interest rate at 27.50 percent. During a press briefing on Tuesday following the 300th MPC meeting in Abuja, CBN Governor Olayemi Cardoso announced, “The committee unanimously agreed to maintain the MPR at 27.50 percent.” Cardoso also revealed that the MPC has…
Dangote Refinery gets 146,000 metric tonnes of oil from global market
Dangote Refinery has received 146,000 metric tonnes of oil from the international market, with the vessel Hercules currently unloading its cargo. According to Vanguard’s reports, another ship, Sienna, is set to arrive with an additional 125,000 metric tonnes of crude oil for refining. In related news, three vessels—Microft, STI Mighty, and PS New Orleans—have docked…
Nigeria Attracts Global Interest in Oil and Gas Investment – NUPRC
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that Nigeria is gaining renewed global interest as a prime destination for oil and gas investment, thanks to strategic reforms. During the 2025 Africa Energies Summit in London, NUPRC Chief Executive Officer Gbenga Komolafe highlighted that these reforms focus on transparency, data accessibility, and a comprehensive…
Naira Sees First Appreciation Against Dollar in Black Market
This week, the naira has experienced its first appreciation against the dollar in the parallel foreign exchange market. Abubakar Alhasan, a Bureau de Change operator in Wuse Zone 4, Abuja, informed DAILY POST that the naira strengthened to N1625 per dollar on Thursday, up from N1635 on Wednesday. “We buy dollars at N1620 and sell…
NGX Continues Upward Trend as Investors Gain N186bn
The Nigerian Exchange Limited (NGX) maintained its strong bullish momentum on Wednesday, with investors reaping N186 billion in profits. The market capitalization of NGX increased by N186 billion, or 0.27 percent, reaching N68.543 trillion, up from N68.357 trillion on Tuesday. The All-Share Index (ASI) also saw a rise, climbing by 296.72 points, or 0.27 percent,…
Investors Gain N315 Billion as NGX Rebounds
Investors at the Nigerian Exchange Limited saw a significant gain of N315 billion on Tuesday as the stock market rebounded, reversing two days of declines. The market capitalization of the NGX increased by N315 billion, or 0.46 percent, closing at N68.357 trillion, up from N68.042 trillion on Monday. The All-Share Index (ASI) also rose by…
Lagos Achieves N1.3 Trillion IGR in 2024, Marking 45% Growth
The Lagos State Government has reported a remarkable increase in its Internally Generated Revenue (IGR), reaching approximately N1.3 trillion in 2024. This represents a 45% rise from the N895 billion collected in 2023. During a ministerial press briefing on Monday, held to commemorate the second anniversary of Governor Babajide Sanwo-Olu’s second term, Commissioner for Finance…
SEC Intensifies Efforts Against Ponzi Scheme Promoters*
The Securities and Exchange Commission (SEC) has intensified its efforts to combat Ponzi schemes in Nigeria, pledging to take strong action against illegal fund operators while also educating the public to prevent further collapses of fraudulent investment schemes. During an awareness campaign at the Dei-Dei Building Materials Market in Abuja, the SEC highlighted its commitment…
Oil Production: FG Aims for 2.5 Million Barrels Per Day – NSA Ribadu
The Office of the National Security Adviser (NSA) has announced that the federal government is dedicated to reaching a crude oil production target of 2.5 million barrels per day. Nuhu Ribadu, the National Security Adviser, made this announcement on Friday in Yenagoa during a stakeholders meeting hosted by Pipeline Infrastructure Nigeria Limited (PINL) to review…
Investors at NGX Earn N307bn in Gains
Investors in the Nigerian stock market enjoyed a gain of N307 billion, fueled by heightened buying interest. The market capitalization of the Nigerian Exchange Limited increased by N307 billion, or 0.45 percent, closing at N68.412 trillion, up from N68.105 trillion on Tuesday. The All-Share Index (ASI) also rose by 488.73 points, or 0.45 percent, finishing…
