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Economy

It’s always about the economy, stupid…

Economy

Dangote Refinery Slashes Diesel Price to N1,000 Per Litre

Manny Akpan | Business & Economy Editor -
LAGOS, Nigeria - In a significant economic move, the Dangote Petroleum Refinery announced a substantial reduction in diesel prices on Tuesday, April 16, 2024,...
Economy

Nigeria’s Central Bank Reveals Depleting Foreign Reserves is Due to Debt Servicing

Manny Akpan | Business & Economy Editor -
Washington DC, USA - During the ongoing International Monetary Fund/World Bank Spring Meetings in Washington D.C., Central Bank of Nigeria Governor, Olayemi Cardoso, addressed...
Economy

Libya Surpasses Nigeria as Africa’s Top Crude Oil Producer

Manny Akpan | Business & Economy Editor -
TRIPOLI, Libya - Libya has overtaken Nigeria as the continent's highest crude oil producer. According to the latest data from the Organization of Petroleum Exporting...
Business

Dangote Predicts Diesel Price Cut to Drive Down Nigeria’s Inflation Rate

Manny Akpan | Business & Economy Editor -
LAGOS, Nigeria - Aliko Dangote, the chairman of the Dangote Group, expressed confidence that the recent reduction in diesel costs would lead to a...
Business

The Next Tech Frontier: Microsoft Projects AI to Power $1.2 Trillion African Boom

Ella Ukairo | Tech Reporter -
LAGOS, Nigeria - In a recent presentation at the African AI Journalists Academy, Microsoft projected a significant economic boon for Africa through Artificial Intelligence...
Economy

Nigeria Imposes Staggering $10 Billion Fine on Binance over ‘Impact on Forex Crisis’

Manny Akpan | Business & Economy Editor -
ABUJA, Nigeria - The Nigerian federal government has levied a staggering $10 billion fine against the cryptocurrency trading platform Binance, accusing it of exacerbating...
Business

CBN Clears Entire Foreign Exchange Backlog for Foreign Airlines

Manny Akpan | Business & Economy Editor -
ABUJA, Nigeria - The Central Bank of Nigeria, CBN, has achieved a significant milestone in its financial operations by completely settling the foreign exchange...
Economy

‘We Can’t Just Fix Nigeria’s Economic Woes’ – CBN Governor Cardoso Declares 

Manny Akpan | Business & Economy Editor -
ABUJA, Nigeria - In a candid acknowledgement of the Central Bank of Nigeria's (CBN) limitations, Governor Yemi Cardoso has admitted the bank's inability to...
Business

Dangote, Kaduna, BUA Refineries to Depend on Imported Crude as Oil Theft Continues

Manny Akpan | Business & Economy Editor -
ABUJA, Nigeria - The Nigerian National Petroleum Company Limited, NNPCL, is poised to begin the importation of approximately 110,000 barrels of crude oil daily...
Economy

Nigeria Awaits Energy Independence: Oil Marketers Hold Off Imports in Anticipation of Local Refining

Manny Akpan | Business & Economy Editor -
PORT HARCOURT, Nigeria - Nigerian oil marketers are suspending plans to import Premium Motor Spirit, PMS, commonly known as petrol, as they eagerly await...
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