Business

Dollar Demand Pushes Nigeria’s FX Utilisation to Six-Year High of $50.9bn

Dollar Demand Pushes Nigeria’s FX Utilisation to Six-Year High of $50.9bn

Nigeria’s use of foreign exchange nearly doubled to $50.93 billion in 2025 as businesses, financial institutions and importers increased demand…
Black Market Dollar to Naira Exchange Rate for Today, Thursday, September 10, 2026

Black Market Dollar to Naira Exchange Rate for Today, Thursday, September 10, 2026

The Dollar to Naira exchange rate in Nigeria’s black market, also known as the parallel market, remained largely stable on…
Petrol Prices Face Fresh Increase in Nigeria as Brent Crude Holds Above $100

Petrol Prices Face Fresh Increase in Nigeria as Brent Crude Holds Above $100

Nigerian motorists could face another round of petrol price increases as the renewed surge in global crude oil prices raises…
Five Stocks Hit Daily Loss Limit as Selling Pressure Intensifies

Five Stocks Hit Daily Loss Limit as Selling Pressure Intensifies

Broad-based selling intensified on the Nigerian Exchange (NGX) on Wednesday with five equities hitting the Exchange’s maximum daily decline as…
NGX Extends Selloff for Second Straight Session as Investors Lose Another N1.67 Trillion

NGX Extends Selloff for Second Straight Session as Investors Lose Another N1.67 Trillion

The Nigerian Exchange (NGX) remained under pressure on Wednesday as sustained profit-taking extended the market’s decline for a second consecutive…
Hormuz Oil Shipping Costs Surge to $20m as War Risks Escalate

Hormuz Oil Shipping Costs Surge to $20m as War Risks Escalate

The cost of transporting oil through the Strait of Hormuz has surged to as much as $20 million per voyage…
Dangote’s $40bn Expansion Plan Faces Crude Supply, Financing Test

Dangote’s $40bn Expansion Plan Faces Crude Supply, Financing Test

Dangote Industries’ plan to invest about $40 billion in energy projects over five years is confronting a major test over…
Brent Crude Breaks Above $100 as Middle East Supply Crisis Deepens

Brent Crude Breaks Above $100 as Middle East Supply Crisis Deepens

Brent crude oil climbed above $100 per barrel on Wednesday for the first time since July as escalating attacks on…
Dangote Says Global Fuel Shortage Could Outlast Iran War

Dangote Says Global Fuel Shortage Could Outlast Iran War

Dangote Petroleum Refinery expects the global shortage of petrol, diesel and other refined fuels to persist beyond the end of…
Dangote Refinery Revenue Hits N19.13tn, Profit Surges to N2.5tn Ahead of IPO

Dangote Refinery Revenue Hits N19.13tn, Profit Surges to N2.5tn Ahead of IPO

Dangote Petroleum Refinery generated N19.13 trillion in revenue and approximately N2.50 trillion in profit after tax in the first half…
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