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Foreign Holdings Lose $13 Billion As The Naira Falls And Corporations Flee

Nigeria, Dec. 2 -- Foreign ownership in Nigeria fell to $12.8 billion between 2022 and 2023 due to the currency crisis and corporate withdrawals. The World Investment Report 2024 states that foreign ... Read More


President Biden Pardon Son Hunter Biden Amid Federal Gun Charges

Nigeria, Dec. 2 -- Joe Biden pardoned his son Hunter on Sunday night, a turnaround for the president, who has consistently stated that he would not utilize his presidential authority to pardon or comm... Read More


FG Hands Over $3.02 Billion Port Harcourt-Aba Railway To Nigerian Railway Corporation For Operation

Nigeria, Nov. 29 -- The Nigerian Railway Corporation (NRC) has been officially given the 62-kilometer, $3.02 billion Port Harcourt-Aba railway project to operate after the Federal Government completed... Read More


Black Friday Used to Be Fun, But Now People Don't Care

Nigeria, Nov. 29 -- Black Friday was once an exciting time for shoppers in Nigeria. This day symbolized unbeatable deals, bustling stores, and the thrill of snagging coveted items at a fraction of the... Read More


Toyota's Global Output Fell For The Ninth Straight Month In October

Nigeria, Nov. 28 -- Despite significant production declines in China and the United States, Toyota Motor's (7203.T) global output fell for the ninth month in October. However, the decline was not as s... Read More


States' Debts Expected To Rise Due To FX Shortages And Low Revenue

Nigeria, Nov. 28 -- State governments may experience a financial crisis due to the foreign currency crisis due to their low internally generated revenue (IGR) and high debt payment expenses. As of De... Read More


NNPCL Backs Port Harcourt Refinery Output, Highlights Blending As A Global Standard

Nigeria, Nov. 27 -- The Nigerian National Petroleum Company Limited's (NNPCL) Board and Management have defended the Old Port Harcourt Refinery's outputs, arguing that blending is a common procedure w... Read More


Naira Will Close 2024 At 1,621.7/$ Due To Persistent Pressure

Nigeria, Nov. 27 -- The Nigerian naira is expected to decline to N1,621.7 to the US dollar by the end of the year despite the Central Bank of Nigeria (CBN) 's efforts to stabilize it. However, the St... Read More


85.6% of Nigerian Workers Are Self-Employed - NBS

Nigeria, Nov. 26 -- According to data released by the National Bureau of Statistics (NBS), 85.6% of Nigeria's working-class population works for themselves, demonstrating the prevalence of self-employ... Read More


Nigeria's Middle-Class Shrinks Amid Rising Inflation

Nigeria, Nov. 26 -- The middle class has long been considered a pillar of economic progress and stability in any community. However, as rising inflation and stagnating salaries reduce purchasing power... Read More