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(FX) rate benchmark to N1,618/$1, stoking concern about the sincerity of the government in addressing the challenges facing manufacturing. The increase, manufacturers said, is extremely insensitive to their plight, especially at this time when they are asking for concessions. They lamented that despite the hardship they are forced to go through, the government has turned… 
30 mins ago
The National Council of Managing Directors of Licensed Customs Agents (NCMDLCA) has called on President Bola Tinubu to urgently address the impact of the floating of the foreign exchange (FX) market on the determination of prices of imported goods as the duty rate peaks at N1,601.86/$1. In a letter sent to Tinubu, the President of…
1 hour ago
The Federal Ministry of Marine and Blue Economy has acknowledged the Ogun State’s Inland Dry Port (IDP) project for securing a Certificate of Compliance from the Infrastructure Concession Regulatory Commission (ICRC). The ministry stated that the certification would further facilitate the implementation of developmental processes of the proposed port. The Chairman of the Project Delivery…
1 day ago
The Central Bank of Nigeria (CBN) has granted approval for the proposed merger between Unity Bank Plc and Providus Bank Limited. CBN’s spokesperson, Sidi Ali Hakama, disclosed this in a statement on Tuesday evening. READ ALSO:EXPLAINER! Fitch Ratings: Is Dangote Industries going bankrupt? Hakama said this strategic move is designed to bolster the stability of…
1 day ago
Libya’s National Oil Corporation said Tuesday it was reducing oil production in the Al-Sharara oilfield, which provides a quarter of the country’s output, following an attempted shutdown by protesters. The NOC announced in an official statement the “start of a partial reduction in production” from the oilfield. It announced a “force majeure” following “protests from…
