Category archives: Business

As of August 26, 2024, the exchange rates for the dollar against the naira in the black market (also known as the parallel market) are as follows: For comparison, the Central Bank of Nigeria (CBN) rates are: Please note that rates may vary and the CBN does not recognize the black market rates. Individuals seeking […]

Independent oil marketers across Nigeria have raised the price of petrol to between N900 and N1,000 per litre, significantly higher than the N568 to N617 per litre found at Nigerian National Petroleum Company (NNPC) outlets. This price hike has led to long queues at NNPC stations as Nigerians seek more affordable fuel. In response, the […]

About 1000 Coalition of Civil Society Organisations (CSOs) has commended Dr. Zacch Adedeji, Executive Chairman of the Federal Inland Revenue Service (FIRS), for his pioneering efforts in revolutionizing Nigeria’s tax system to accommodate cryptocurrencies. In a press conference addressed in Abuja on Monday and signed by Mallam Yakubu Mohammed, National Coordinator, and Barr Godspower Ebi, […]

The Nigeria Professionals in Diaspora group has praised Dr. Zacch Adedeji, Executive Chairman of the Federal Inland Revenue Service (FIRS), for his innovative crypto tax reforms, describing them as a game changer for Nigeria’s economy. In a statement delivered during a press conference in Abuja and signed by Dr. Obiora Okereke, President, and Chief Mrs. […]

Market Overview Sector Performance Key Factors Influencing the Market Corporate Updates Market Outlook Analysts expect the market to continue experiencing mixed sentiments, with opportunities for bargain hunting and profit-taking. Despite the market’s recent downtrend, some stocks are seen as undervalued, providing potential buy-low, sell-high opportunities for investors. Portfolio repositioning is likely to persist as investors […]

Key Factors Behind Price Increase Impact on the Industry and End Users Outlook and Future Measures The ongoing economic pressures, smuggling activities, and exchange rate fluctuations indicate that the hope for lower cement prices in Nigeria remains uncertain, with both manufacturers and consumers bearing the brunt of these challenges.

As of today, August 26, 2024, the exchange rate for the US dollar to the Nigerian naira in the black market is as follows: It’s important to note that these rates are based on transactions in Lagos and might vary slightly depending on the location and the specific Bureau De Change (BDC) operators. Central Bank […]

The Federal Government’s committee, established to facilitate the sale of crude oil to local refineries in naira, is set to finalize discussions on the pricing of petrol from the Dangote Petroleum Refinery, scheduled to be released next month. The committee, led by Finance Minister Wale Edun, will focus on setting a benchmark price for the […]

With the ongoing surge in prices severely impacting profits and capital, many Micro, Small, and Medium Enterprises (MSMEs) in Nigeria are finding innovative ways to stay afloat. Business owners like Mrs. Bolanle Rasheed and Mrs. Marvin Godonou have resorted to using phone calls and online messaging to maintain customer relationships and keep their businesses running. […]

Summary:The black market exchange rate for the US Dollar (USD) to Nigerian Naira (NGN) on 25th August 2024 is as follows: These rates are sourced from Bureau De Change (BDC) operators in Lagos. It’s important to note that the Central Bank of Nigeria (CBN) does not recognize the black market. For official forex transactions, individuals […]