Naira now goes for 208 (215) to a dollar

The naira, on Friday, depreciated against the dollar as it traded at N208 from the N191.50 it sold for on Monday, January 19. (it's about N215 as of today)

Oando Filling Station Sealed Over Non Compliance

An Oando filling station in Benin, on Monday, came under the sledge hammer of Edo State Petroleum Monitoring Committee, which sealed it over its failure to comply with the new pump price regime of N87:00 per litre for Premium Motor Spirit (petrol) as announced by the Federal Government on Sunday.

CBN claims credit for reduction in kidnappings

The Central Bank of Nigeria, CBN, has said that its cashless policy had contributed to a reduction in the spate of kidnapping in the country.

Nigeria Becomes No 1 African Country Best For Investment

The UN Conference on Trade& Development has named Nigeria as the #1 destination for investment in Africa; $8billion in FDI.

Investments in mutual funds hit N174bn

The total value of mutual funds investment rose by N23.67bn or 15.7 per cent at the end of 2014.

Boko Haram Is A Threat To Us All

US Secretary of State John Kerry has described the attack on Doron Baga and Baga town in Borno state, where several people were killed, as a “crime against humanity”.

Fashola signs 2015 Lagos Appropriation bill into law

The Governor of Lagos State, Babatunde Fashola, on Sunday signed the state’s N489.7billion 2015 Appropriation Bill into law.

FG finds 13 alternative revenue to oil, says Aganga

The Federal Government has marked out 13 National Strategic Export Products meant to replace the petroleum products which prices have continued to tumble on the international markets , threatening the stability of the Nigerian economy

Bears Takes Over Nigerian Stock Exchange

The Nigerian All Share Index followed with yesterday bearish run as the index posted a 4.19% loss. The Index opened flat before the sell-offs that started yesterday took off.

CBN Blows $33billion Defending The Naira in 2014

Just how much has the CBN spent in 2014 in trying to ensure importers meet up with their insatiable need for the dollar?

Lagos Assembly passes N489.7b as budget for 2015

The Lagos State House of Assembly on Tuesday evening passed the state 2015 Appropriation Bill of N489, 689, 869, 621 with the House urging the executive arm of government to judiciously implement the law after it is given assent by the state governor, Mr. Babatunde Fashola.

Fashola slashes land charges in Lagos

Lagos State Governor, Mr. Babatunde Fashola SAN, Monday signed into law an Executive Bill reducing the cost of land transactions in the State saying it is “in order to ensure that land transactions are carried out with minimal difficulty especially with difficulties relating to payment of taxes, rates and legitimate levies charged under the enabling law”.

South African Stocks Record Largest Daily Decline Since 2008

South Africa’s benchmark Top-40 index shed 3.9% Monday, its biggest drop since November 2008. The article blamed a worldwide dumping of  emerging market assets in the face of a resurgent dollar and falling oil prices.

Nigerian All Share Index Shed 2%

The Nigerian Stock Exchange closed its first day of trading 2014 on a negative note with the All Share Index losing 2.08% to close lower at 33,943. 

The Presidency Is Budgeting N815m For Fueling of Cars & Generator in 2015

The breakdown of the 2015 Budget is becoming a holy grail of some sort. For some reason it is yet to e published officially over two weeks after it was presented to the National Assembly.

We’ve employed 50,000 youths in 43 months —Amosun

Ogun State Governor, Senator Ibikunle Amosun has disclosed that his administration has in 43 months of its emergence employed no fewer than 50,000 youths in the state through direct and indirect employment.

Oil Price Now As low at $53

The prices of crude oil in the international market declined further on Monday raising fears that the Organisation of Petroleum Exporting Countries,

Federal Government to spend N9.626 trillion in 2015 as against N12.188 trillion spent in 2014

WORRIED by the dwindling economic fortunes of the country, the Federal and 31 state governments of the country have proposed what has been termed as ‘austere’ budgets

N20.5bn will be spent on Kaduna education sector in 2015 – Gov. Yero

Speaking at the 22nd Annual General Meeting of the Zaria Education Development Association in Zaria, Kaduna State, Yero said his administration had placed education second to security which has made the sector to receive allocation of N20.5 billion.

Nigeria’s Economy: Gloomy And Dangerous

A friend of mine once said, “Nigeria is so rich that nothing will ever create an economic down-turn.”

DON’T MISS These Reports If You Invest In Shares or Plan To Someday

Emma is an avid football fan and a supporter of Arsenal football club. Every morning, afternoon and night he gets alerts via a number of sports news outlets informing him of activities about his club and sports in general.

US Crude Oil Import from Nigeria

This is just a stark reminder of how bad Nigerian crude oil exports have performed this year. From exporting over 450,000 barrels to the US in 2007, Nigeria exported nearly zero to the US in 2014.

35% Additional Import Duty on Tokunbo Vehicles Was Postponed?

The government has bowed to pressure and postponed the planned increase of tariffs on second hand vehicles to April 30, 2015. According to an article in the Punch, the government gave the following reasons for taking that decision.

The Tony Elumelu Foundation to invest $10million for 1,000 African startups

For all the debate about lack of funding for African tech startups, things are about to make a turn for better in 2015.