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The Nigerian Naira held its steady momentum against the United States Dollar during early trading on Friday. The local currency demonstrated continued stability across both the official window and the informal parallel market segments. In the Nigerian Foreign Exchange Market, which handles formal trade, the Naira opened the morning session at 1,370.05 per Dollar. This…
MTN Nigeria and Airtel Africa have amassed a combined data revenue of N1.53 trillion in their latest financial results, propelled by a sharp rise in smartphone adoption and internet consumption. The figures underscore the shifting commercial realities of the country’s telecommunications sector, where digital services are rapidly displacing traditional voice calls as the primary engine…
The Naira fell to 1,395 against the American dollar in the parallel market yesterday as foreign exchange supply pressures returned. The local currency slid from the 1,390 rate recorded last weekend. This drop matches a similar decline in the official Nigerian Foreign Exchange Market, where the currency closed at 1,373.5 per dollar. Central Bank of…
The All Progressives Congress’s internal machinery has handed a sharp reality check to celebrity incursions into formal politics. Pascal Okechukwu, the socialite and hospitality businessman widely known as Cubana Chief Priest, failed to secure the party ticket for the Orsu/Orlu/Oru East Federal Constituency of Imo State. Hon. Canicemore Omeogo instead won the internal election to…
Former presidential candidate Peter Obi criticized the economic value of recent foreign state visits by Nigerian leaders, arguing that international diplomacy must yield measurable benefits for local citizens. Speaking following President Bola Tinubu’s three-nation tour, the former Labour Party standard-bearer asserted that foreign travel should not serve as tourism or a fashion parade for government…
The Central Bank of Nigeria has launched a revised foreign exchange manual to boost dollar inflows and stabilise the volatile currency market. Deputy Governor Muhammad Abdullahi announced the new framework at a World Bank event in Abuja, stating that the guidelines will open all doors for foreign capital. The document updates market rules, cuts regulatory…
The Federal Government has moved to correct the narrative regarding a purported 40 per cent peculiar allowance for all civil servants. This clarification follows widespread reports suggesting a fresh blanket salary increase for the entire workforce. Official statements confirm that the allowance in question is not a new development but an existing intervention for specific…
Nigeria consumed 1.53 billion litres of petrol in April, as the Dangote Refinery cemented its status as the nation’s primary fuel source. Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) shows that daily consumption averaged 51.1 million litres. This volume highlights a significant reliance on a single private entity for energy security….
The Central Bank of Nigeria has ordered state governments to end their addiction to overdrafts and short-term loans. This fiscal recklessness now threatens the bank’s planned shift to a rule-based inflation-targeting framework. Deputy Governor Muhammad Abdullahi warned state officials on Sunday that expansionary spending at the sub-national level blunts the edge of monetary policy. States…
Arsenal sit five points clear of the Premier League summit after a late video intervention saved their title bid in East London. A 1-0 victory over West Ham on Sunday puts Mikel Arteta within two wins of the club’s first trophy in 22 years. The match turned on an 83rd-minute strike from Leandro Trossard and…
