Browsing: FGN

In the first three months in 2024, Nigeria grew total exports by 51% quarter-on-quarter to about

The Senate leadership has described the 650,000 barrels per day Dangote Petroleum Refinery as the 9th wonder of the world, but came hard on those who are sceptical of the completion of Dangote Petroleum Refinery, describing them as dream killers.

The Federal Government (FG), through the Unlock Training Programme for unemployed youths, has given N500,000 each, to 120 persons to start their businesses.s

The naira ended the week in red against the dominant US dollar in the foreign exchange market as demand and supply continues to test effectiveness of Nigeria’s willing buyer, willing seller FX policy.

The Federal Government said it has offered organised labour N62, 000 which is equivalent to 42 US dollar at N1476 exchange rate as the new national minimum wage for workers in the country.

Equities investors lost about N103 billion on Monday as Nigerian Exchange (NGX) opened the week negative. The local bourse halted last session’s winning streak as investors lost N102.55 billion, following sell-offs in Tier-one banking stocks and cautious trading.

Flour Mills of Nigeria Plc reported more than 99% year on year decline in profitability in 2024, details from its audited financial statement showed. The consumer goods company’s net profit came at N3.45 billion from N29.5 billion in the comparable year in 2023, according to food producer’s audited report for the year.

The naira continued to underperform bullish expectations of major investment firms, including Goldman Sachs, Financial Derivate Companies, Renaissance, and others, amidst claim by the apex bank that the local currency is undervalued.

Federal Government (FG) is targeting higher contribution from solid minerals as part of its plan to grow the economy to $10 trillion, driven by ongoing reforms.

The naira, Nigerian local currency, crashed by about 13.3% day on day in the foreign exchange (FX) market on the obvious FX liquidity challenge that has persisted since last month.