Nigeria Breaking News
Gov. Bassey Otu of Cross River says the Bakassi Deep Seaport project will be funded without the state taking any loan facility. Otu said that the project, a flagship of his administration, though not conceptualised by his government, would change the economic landscape of the state and that of the country at large. The governor …
Airtel Nigeria, the country’s second-largest telecom operator, has revised its data pricing structure and implemented tariff adjustments, according to details published on its website on Monday. The price revision affects various data bundles and reflects ongoing industry concerns over rising operational costs. While Airtel has yet to release an official statement, the adjustment highlights the …
The Naira yesterday appreciated to N1,565 per dollar in the parallel market from N1,570 per dollar on Wednesday. But the Naira depreciated to N1,515.06 per dollar in the Nigerian Foreign Exchange Market (NFEM). Data published by FMDQ Exchange showed that the indicative exchange rate for the naira rose to N1,515.06 per dollar from N1,511.63 per …
Flour Mills of Nigeria PLC (FMN) has announced the call for entries for the fourth edition of its FMN Prize for Innovation (PFI). This year’s theme, “Innovative Practices in Livestock Farming in Nigeria,” highlights FMN’s commitment to promoting sustainable solutions that can transform the country’s livestock space and drive long-term economic growth. Entries for the fourth season …
The top 15 insurance firms in the country recorded 83.1 percent growth in profitability to N166.6 billion in 2024 from N91.01 billion in 2023. The sharp growth in profitability indicates the positive impact of various growth strategies of the National Insurance Commission, NAICOM, as well as other umbrella bodies to drive insurance penetration. The companies …
Access to technology and financial markets is accelerating change in the trading landscape across Africa. Previously, basic trading tools and strategies were the extent of retail trading investment options, but now, retail investors have the ability to access advanced trading technology only previously available to institutional trading investors. HFM is leading this transformation with technology …
The Central Bank of Nigeria (CBN) has warned that it will sanction banks that force customers to withdraw less than N20,000 per transaction from Automated Teller Machines (ATMs) despite having sufficient funds and requesting a higher amount. This was disclosed in a Q&A explainer released by the apex bank following its recent review of ATM …
The Senate has proposed a N10 billion special fund for investor education in the capital market as part of the 2025 budget. According to the Senate, the initiative aims to raise awareness among Nigerians and attract more investors to the market. Chairman of the Senate Committee on Capital Market, Senator Osita Izunaso, made this statement …
Nigeria’s oil output, including condensate, increased month-on-month, MoM, by 4 per cent to 1.737 million bpd in January 2025, from 1.667 million bpd recorded in the preceding month of December 2024. But on year-on-year, YoY basis, the nation’s oil output, including condensate, increased by 5.7 per cent to 1.737 million bpd in January 2025, from …
Foreign Portfolio Investments, FPIs, inflows through the Nigerian stock market grew by 126.8 % at the end of December 2024 to N396.41 billion from N174.82 billion in the full year 2023. Investment analysts have attributed the development to the monetary policy regime of the Central Bank of Nigeria, CBN, which pushed up interest earnings on portfolio …