The dollar exchanged for N412 on Monday at the Bureau De Change segment of the market. This followed a temporary suspension of the sale of forex to the Bureau De Change operators in the industry by the Central Bank of Nigeria. The Association of Bureaux De Change Operators of Nigeria had made a request to […]

Retail stations belonging to the Nigerian National Petroleum Corporation have started selling the Premium Motor Spirit (petrol) at N125 per litre while Private fuel marketers are yet to reduce the pump price. Our correspondent, who visited several filling stations including Oando, Mobil and Capital Oil and Gas on the Lagos-Ibadan Expressway as well as Total […]

The Central Bank of Nigeria (CBN) says market fundamentals do not support Naira devaluation this time around. The CBN made this known in a statement by the bank’s Director, Corporate Communications, Mr. Isaac Okorafor in Abuja on Friday. Okorafor expressed dismay at speculative activities at the foreign exchange market from impressions that the CBN would […]

The expected open market price of Premium Motor Spirit, popularly known as petrol, has dropped to N114.53 per litre, N30.47 lower than the approved pump price of the product. It was reported that on March 2, 202 the spread of coronavirus had wiped off subsidy on petrol, thereby, leading to the sharp drop in crude […]

The Federal Government has announced plans to review the 2020 budget as crude oil revenue comes under pressure from the effects of the raging coronavirus infection globally. The Minister of Finance/Budget Planning, Mrs Zainab Ahmed, said on Wednesday that the government was worried about the drop in oil revenue and would soon start a mid-term […]

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