Business

Sell Warri, Kaduna refineries to private firms – Marketers tell FG

PETROAN has urged the Nigerian government to sell the Warri and Kaduna refineries to private firms. This was disclosed this in a statement on Saturday titled, ‘Retrospect of Nigeria’s Oil…

August 14, 2025

Business

CBN Slams ₦1.35bn Fine on Nine Banks for ATM Cash Scarcity

The Central Bank of Nigeria (CBN) has fined nine Deposit Money Banks (DMBs) ₦150 million each. The affected banks include Fidelity Bank Plc, First Bank Plc, Keystone Bank Plc, Union…

August 14, 2025

Business

“It’s No Longer Funny; Even Retail Outlet Owners Are Affected” – PETROAN Laments Petrol Price Hike

The recent hike in petrol prices has led to the resurgence of fuel queues at filling stations across Nigeria. The prices range from N1,050 to N1,150/litre. Oil marketers have stated…

August 14, 2025

Business

Naira Strengthens Against Dollar In Parallel, Official Markets

The Nigerian naira has appreciated significantly against the US dollar in both parallel and official foreign exchange markets. It gained N25 against the dollar on the black market, closing at…

August 14, 2025

Business

Nigeria, World Bank Collaborate on Capital Market Funding for Infrastructure

FG has begun discussions with the World Bank to explore funding options for infrastructure development through Public Private Partnership (PPP). The Infrastructure Concession Regulatory Commission (ICRC) met with a World…

August 14, 2025

Business

Naira Gains Against Dollar in Parallel Market Amid CBN Reforms

The Nigerian naira has gained against the US dollar in the parallel market, trading at an average rate of N1,515 on Wednesday. The naira's recovery is attributed to the Central…

August 14, 2025

Business

FG Calls for Cement Price Cut to N7,000

The Federal Government has urged cement manufacturers to lower prices to N7,000, citing improved economic conditions. The Minister of Works, Sen. Engr. Nweze David Umahi, made the call, criticizing the…

August 14, 2025

Business

Foreign Investors Withdraw N455.62bn from Nigerian Stock Market in 2024

Foreign investors withdrew N455.62bn from the Nigerian stock market in 2024, exceeding total inflows and reinforcing concerns about investor confidence. The outflows were attributed to the volatility of the naira…

August 14, 2025

Business

Inflation Rate Drops To 23.18% As Nigerians Lament Over High Cost Of Living

Nigeria's inflation rate dropped to 23.18% in February 2025, down from 24.48% in January. Despite the decline, economists and Nigerians expressed concern over the high cost of essential commodities nationwide.…

August 14, 2025

Business

Five Quotes For Some Extra Monday Motivation

Daily Report August 14, 2025