Economy
NMDPRA Assures Fuel Availability, Warns Against Panic Buying
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has assured Nigerians of sufficient petroleum supplies during the yuletide season,...
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Nigeria’s Diaspora Remittances Hit $4.22 Billion- Cardoso
Remittance inflows from International Money Transfer Operators (IMTOs) surged to $4.22 billion between January and October 2024, marking a 61%...
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Naira Crash and Inflation Deepen Nigeria’s Food Crisis
Nigeria’s worsening food crisis is fueled by naira devaluation, rising insecurity, and surging inflation, according to Afreximbank’s report, Food Imports...
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Senate Approves Bill to Raise Minimum Capital Requirements for All Insurance Companies in Nigeria
The Senate has approved the Nigerian Insurance Industry Reform Bill, 2024, introducing significant changes to modernize the sector. It mandates...
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African Investors Contribute 22.76% to Nigeria’s Q3 2024 Capital Inflows Despite Decline
The National Bureau of Statistics (NBS) reports that African investors, excluding Nigeria, accounted for 22.76% of Nigeria’s foreign capital inflows...
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Africa Faces $50 Billion Food Import Bill, Poses Threat to Economic Stability and Food Security
African nations spend an average of $50 billion each year importing food, a reliance that could surge to $110 billion...
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NNPC Secures $1bn Loan to Boost Dangote Refinery and Stabilizes FX with $3bn Gazelle Deal
The Nigerian National Petroleum Company Limited (NNPCL) has announced securing a $1 billion crude-backed loan to support the operational launch...
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SEC Enhances Capital Market Participation with New Initiatives
The Securities and Exchange Commission (SEC) has unveiled a new initiative, #InvestNigeria, to encourage Nigerians to participate in the capital...
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Nigeria Saves $115,000 on Siemens Power Project through BPP Negotiation
The Bureau of Public Procurement (BPP) has secured a $115,000 savings for Nigeria on the Presidential Power Initiative, popularly known...
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NNPC Reduces Petrol Price Nationwide Amid Global Economic Shifts
The Nigerian National Petroleum Company (NNPC) Limited has reduced the price of Premium Motor Spirit (PMS), commonly known as petrol,...
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