PM Browne says his country looks forward to when Air Peace will begin scheduled direct flights into Antigua and Barbuda.
The post Antigua and Barbuda Prime Minister Woos Nigerian Investors, Lauds Air Peace appeared first on Arise News.
Category: Business
Naira Depreciates To ₦1,365/$ In Parallel Market
The Nigerian currency, the Naira, experienced a significant depreciation yesterday, dropping to ₦1,365 per dollar in the parallel market from ₦1,320 per dollar on Tuesday. Naija News reports that the decline was mirrored in the Nigerian Foreign Exchange Market (NAFEM), where the Naira fell to ₦1,402.67 per dollar, according to data from the Financial Markets […]
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CBN Orders Fintech Firms OPay, Palmpay, Kuda Bank, Moniepoint To Suspend Onboarding of New Customers
CBN has directed fintechs OPay, Palmpay, Kuda Bank, and Moniepoint to suspend new customer onboarding until further notice.
The post CBN Orders Fintech Firms OPay, Palmpay, Kuda Bank, Moniepoint To Suspend Onboarding of New Customers appeared first on Arise News.
CBN Removes Report On Fresh ₦3.8 Trillion Loan From Tinubu Govt
The Central Bank of Nigeria (CBN) has removed the data which provided a fresh loan of N3.8 trillion in Ways and Means to the federal government from its website. Naija News earlier reported that the Tinubu government took the loan during the second half of 2023 This is according to provisional data published in the […]
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Nigeria Unveils $10 Billion Diaspora Fund To Boost Economic Growth
Nigeria has announced plans to establish a groundbreaking $10 billion diaspora fund. The fund aims to attract investments from its substantial overseas population to bolster key sectors such as infrastructure, healthcare, and education. Naija News understands that the initiative, spearheaded by the country’s Ministry of Industry, Trade, and Investment, is designed to tap into the […]
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Nigeria Not Making Progress In Cocoa, Oil Palm Production, Say Planters
Nigeria, formerly the world’s leading cocoa producer, has slipped in the ranking due to outdated farming techniques, planters say.
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Another Multinational Giant Set To Leave Nigeria, Africa After 140 Years, Blames Naira Devaluation
PZ Cussons has announced it’s intention to exit Africa’s business environment. Speaking on Wednesday, April, 24, the company said it has begun a strategic review of its African businesses to exit Africa, partly due to economic challenges in Nigeria. PZ Cussons explained that its sales in Nigeria plunged by 48% due to the naira devaluation […]
The post Another Multinational Giant Set To Leave Nigeria, Africa After 140 Years, Blames Naira Devaluation appeared first on Naija News.
CBN’s New CRR Policy Hinders Petroleum Marketers’ Financing For Dangote Refinery Products
Petroleum marketers have said that the monetary policy tightening has made it difficult for them to get huge loans to lift petroleum products
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Cement Prices Drop Across Nigeria (See Why)
Cement prices across Nigeria have decreased dramatically, from a high of N10,000-N15,000 per 50kg bag to a more affordable range of N7,000-N8,000. This change comes after intense volatility in the building materials sector peaked earlier this year. In February, the construction industry faced major disruptions as cement prices soared, causing numerous real estate developers to […]
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Dangote Refinery To Potentially Reduce West Africa’s Petrol Imports By 290,000 bpd, Says S&P Global
Analysts have said that the Dangote refinery has to potential to alleviate Nigeria’s cost of living crisis.
The post Dangote Refinery To Potentially Reduce West Africa’s Petrol Imports By 290,000 bpd, Says S&P Global appeared first on Arise News.