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Nov 7, 2024 · Nairametrics - Business news, Economy, Investing, and Financial Literacy. TRENDING. Nigeria’s crude oil production rises to 1.43 million bpd in October 2024 — OPEC November 12, 2024. Breaking News.
Businesses expect Naira to keep depreciating before appreciating …
10 hours ago · Nigerian businesses are preparing for continued naira depreciation over the next several months but hold cautious optimism for a potential rebound by May 2025, according to the latest Business Expectations Survey (BES) from the Central Bank of Nigeria (CBN). This sentiment highlights both immediate ...
Nigeria Customs crosses N5.1 trillion revenue target for 2024 ...
15 hours ago · The Nigeria Customs Service (NCS) has met and is projected to exceed its revenue target of N5.1 trillion for 2024, according to Comptroller-General Adewale Adeniyi. Announcing the milestone at the Comptroller-General Conference (CGC) on Wednesday, Adeniyi highlighted the agency’s exceptional performance as evidence of its strategy in ...
UNICEF empowers nearly 9 million Nigerian youths in digital …
12 hours ago · Generation Unlimited Nigeria (GenU 9JA), a collaborative platform led by the United Nations Children’s Fund (UNICEF), has empowered nearly nine million Nigerian youths in digital learning, skills development and livelihood pathways. This ambitious Public-Private-Youth-Partnership (PPYP) initiative ...
Naira shows mixed performance; depreciates to N1730 in parallel …
Oct 26, 2024 · The Nigerian naira weakened by 0.12% against the US dollar in the parallel market, on October 25, 2024, trading at N1,730/$1—a marginal decline of N2 from the previous rate of N1,728. This marks the second consecutive day of depreciation after a 0.58% appreciation on October 23, when the naira ...
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Naira drops 1.15% at I&E window, despite a sharp rise in market ...
Oct 12, 2024 · Market Turnover: Market volume traded in the I&E window surged to $616.73 million, a significant increase from the prior day’s $145.56 million. For perspective, the total turnover in September reached $3.3 billion. Parallel Market Rates: In the parallel market, the naira opened at N1,620.39 per dollar. It experienced slight variations, with highs of N1,620.44 and lows of N1,620.39, before ...
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Naira expected to stabilize against the dollar in the fourth quarter …
Oct 8, 2024 · The report emphasizes that the commencement of operations at the Dangote Refinery will play a crucial role in easing forex pressures. With petroleum products accounting for 30-40% of Nigeria’s import bills, the refinery’s full-scale operations are expected to substantially reduce these import costs, thus helping to stabilize the naira in the near term.
Nigerian businesses expect naira to depreciate in the next three …
Aug 21, 2024 · The report states, “Respondent firms expect the naira to depreciate in the current month, next month and next three months but appreciate in the next six months as their indices stood at -22.6 points, -16.5 points, -4.8 points and 13.7 points respectively.” “They expect the borrowing rate to rise as the confidence indices stood at …