The Federal Government has unveiled fresh economic measures aimed at stabilising Nigeria’s financial system and easing the cost of imports, with the Central Bank of Nigeria (CBN) set to aggressively withdraw excess market liquidity while the Nigeria Customs Service confirms lower import tariffs on vehicles. The CBN plans to raise between ₦1.35 trillion and ₦2…
Nigeria’s economy received a modest boost on Monday as the naira remained relatively stable in the official foreign exchange market while major fuel suppliers announced fresh reductions in petrol depot prices following Federal Government intervention. The naira continued to trade within a stable range at the Nigerian Foreign Exchange Market (NFEM), reflecting sustained liquidity and…
Dangote Petroleum Refinery has announced another reduction in the ex-depot price of Premium Motor Spirit (PMS), cutting the rate by ₦50 per litre to ₦1,075 per litre in its fourth petrol price reduction within a month. The latest adjustment, which took immediate effect, lowers the ex-gantry price from ₦1,125 per litre and brings the refinery’s…
Nigeria’s business landscape recorded three major developments on Thursday, with fresh fuel price relief from the Dangote Petroleum Refinery, a milestone in the country’s global energy profile, and regulatory action in the banking sector. In the downstream oil sector, Dangote Petroleum Refinery announced its fourth consecutive reduction in the ex-depot price of Premium Motor Spirit…
The Nigerian naira remained stable at the start of the new month, maintaining its recent gains in both the official and parallel foreign exchange markets amid improving liquidity and continued interventions by the Central Bank of Nigeria (CBN). Data from the Nigerian Foreign Exchange Market (NFEM) showed the naira trading at ₦1,380.17 per U.S. dollar…
The Nigerian naira started the new trading week on a stable note, maintaining its recent gains against the U.S. dollar as confidence in the foreign exchange market continued to improve. According to data from the Nigerian Foreign Exchange Market (NFEM), the naira traded at ₦1,379.22/$1 at the official window, reflecting continued stability after weeks of…
