Category archives: Business

Olabode Sowunmi, Chairman of the Energy Transition Study Group at the Nigerian Gas Association, has stated that Aliko Dangote is the sole authority on the pricing of petrol from his refinery. Sowunmi’s comments come after Dangote indicated that the Federal Executive Council (FEC) might influence the price per liter. In an interview with Arise TV, […]

The Organised Private Sector has expressed strong support for the Federal Government’s plan to eliminate taxes on essential goods and services, including food items, house rents, and public transportation. This proposal, introduced by the Presidential Committee on Fiscal Policy, aims to ease the financial burden on Nigerians by removing taxes and value-added tax (VAT) on […]

Nigeria is advocating for a stronger partnership with the United Nations to advance sustainable agricultural development and address food security issues. This appeal was made during a visit by Dr. Amina Mohammed, the UN Deputy Secretary-General, who engaged with key stakeholders in Abuja. Minister of Agriculture and Food Security, Abubakar Kyari, emphasized the vital role […]

What is the Dollar to Naira exchange rate at the black market, also known as the parallel market (Aboki fx)? Below is the exchange rate for September 3rd, 2024. You can exchange your dollars for Naira at these rates. Dollar to Naira Black Market Exchange Rate Today (Aboki dollar rate): These rates are for the […]

Aliko Dangote, President of Dangote Group, has revealed the reasons behind the clearer appearance of the first sample of Premium Motor Spirit (PMS), commonly known as petrol, produced by his refinery in Ibeju-Lekki, Lagos. Speaking during a broadcast at the refinery, Dangote explained that the clarity of the petrol indicates its higher quality, making it […]

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian National Petroleum Corporation Limited (NNPCL) have reached an agreement to sell crude oil to the Dangote Refinery in naira. This development marks a significant step as the Dangote Refinery begins supplying petrol to the Nigerian market. Starting in September 2024, the refinery will […]

Aliko Dangote, Chairman of Dangote Industries and owner of Dangote Refinery, has announced that petrol from his refinery will be available in the market within the next 48 hours. Speaking at the refinery in Ibeju-Lekki, Lagos State, Dangote shared details about the forthcoming availability and pricing of the fuel. Key Points: Conclusion: Dangote’s new refinery […]

Somalia’s Ambassador to Nigeria, Jamal Mohammed, has emphasized that Nigeria holds the key to addressing many of Somalia’s needs. During a recent visit by international data protection experts from Somalia, Mohammed highlighted Nigeria’s extensive knowledge and resources that could significantly benefit Somalia. The visit was part of a study tour aimed at understanding Nigeria’s data […]

In contrast, the Central Bank of Nigeria (CBN) exchange rates were slightly lower: It’s important to note that the CBN does not recognize the parallel (black) market and advises individuals to conduct foreign exchange transactions through official banking channels. Exchange rates may vary depending on the specific location and Bureau De Change (BDC) operators.

Nigeria’s foreign trade payments, made via Letters of Credit (LCs), have plummeted by 57.04% in the first seven months of 2024, totaling $391.91 million compared to $912.35 million in the same period in 2023. This significant decline, highlighted in the Central Bank of Nigeria’s (CBN) weekly International Payments Data, reflects the ongoing foreign exchange (forex) […]