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Economy

It’s always about the economy, stupid…

Economy

Nigeria’s Central Bank Probes $1 Billion Currency Counterfeit Deal

Manny Akpan | Business & Economy Editor -
ABUJA, Nigeria — The Central Bank of Nigeria, CBN, has initiated a probe into an alleged currency counterfeiting operation involving a sum of $1...
Economy

Naira’s Nosedive: Nigeria’s Currency Hits Rock Bottom Despite Economic Reforms

Manny Akpan | Business & Economy Editor -
LAGOS, Nigeria — Nigeria's currency, the Naira, has plunged to the bottom of the African currency rankings, despite a string of economic reforms implemented...
Economy

Fueling Change: Petrol Consumption Plummets 30% After Subsidy Cut in Nigeria

Manny Akpan | Business & Economy Editor -
ABUJA, Nigeria — The Group Managing Director of the Nigerian National Petroleum Company Limited, NNPCL, Mele Kyari, disclosed on Friday, September 1, 2023, that...
Economy

Schools Reopen Amid Rising School Fees and Hardships: The Dark Side of Nigeria’s Fuel Subsidy Cut

Manny Akpan | Business & Economy Editor -
NIGERIA - As primary and secondary schools across Nigeria reopen for a new academic session this September, parents are voicing their angst over rising...
Economy

Nigeria’s Daily Oil Leak: A Staggering 400,000 Barrels Lost, Warns National Security Adviser

Salisu Sulaimon | Sub-Editor -
OWAZA, Nigeria - Nigeria continues to lose 400,000 barrels of crude oil daily to theft and vandalism, despite efforts to combat this enduring issue,...
Economy

Secret Fuel Subsidies: Behind the Smoke Screen of Rising Petrol Prices

Wires Editor | The Trent -
LAGOS, Nigeria — On Monday, May 29, 2023, President Bola Tinubu assured Nigerians of a new dawn, declaring the end of petrol subsidies. What followed...
Economy

Naira Regains Strength Against Dollar as CBN Prepares to Intervene

Wires Editor | The Trent -
ABUJA, Nigeria - The naira has shown signs of recovery against the dollar, trading at N910/$ as opposed to its previous value of N942/$...
Economy

Fuel Frenzy: Petrol Price Surge Stirs Speculation and Scarcity in Nigeria

Wires Editor | The Trent -
LAGOS, Nigeria — Petrol prices soared on Monday, August 14, 2023, with costs reaching N650 per litre in Borno, Oyo, and Delta states, an...
Economy

N13 Billion Weekly Losses: Northern Forum Urges Tinubu to Reopen Borders with Niger Republic

Doyin Ajayi | Sub-Editor -
ABUJA, Nigeria — Business leaders under the umbrella of the Arewa Economic Forum, AEF, have urgently called the Federal Government to reopen specific northern...
Economy

Nigeria’s Central Bank Tightens Reins on Banks’ Shady Forex Sales

Ima Matthew | Sub Editor -
ABUJA, Nigeria - The Central Bank of Nigeria, CBN, has taken a definitive stance against commercial banks involved in illicit foreign exchange sales, with...
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