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Economy Insight

Read the latest news on the economy in Nigeria.

Dangote Group has advised African leaders to unanimously adopt the fixing of their infrastructure deficit, saying with this, intra-trade amongst them would be more efficient. Speaking on the sidelines of the ongoing Intra-African Trade Fair (IATF), Rabiu Umar, the Commercial Operations Officer, Dangote Group, said aside from the fixing of...
Nigeria is no longer Africa's largest oil producer. This is according to the Organization of the Petroleum Exporting Countries (OPEC), who disclosed this development in a report. In the report, the intergovernmental organisation established for oil-related purposes, revealed that Nigeria's oil production output dropped further last month (October 2021). Hence,...
Dollar to naira, on Monday, November 8, 2021, opened at N414.01 at the Investors & Exporters FX window ( I&E FX Window), where the currencies officially trade. According to the data at the FMDQ Security Exchange where forex is traded officially, dollar to naira exchange rate stood at N414.01/$1 today. This means that the Nigerian currency gained...
N-power is an empowerment scheme that President Muhammadu Buhari floated to cushion the effect of the unemployment rate on members of the public. To the delight of the beneficiaries, under the N-power scheme, the federal government has floated another N-knowledge. According to Hajiya Sadiya Umar Farouq, the Minister of Humanitarian Affairs,...
Dollar to naira, on Tuesday, November 2, 2021, opened at N414.26 at the Investors & Exporters FX window ( I&E FX Window), where the currencies officially trade. According to the data at the FMDQ Security Exchange where forex is traded officially, dollar to naira exchange rate at N414.26/$1 on Tuesday, and closed at N415.02 on the same day. This...
Dollar to naira, on Monday, November 1, 2021, opened at N414.12 at the Investors & Exporters FX window ( I&E FX Window), where the currencies officially trade. According to the data at the FMDQ Security Exchange where forex is traded officially, dollar to naira exchange rate at N414.12/$1 on Monday, and closed at ₦415.10 on the same day. This...
Dollar to naira, on Friday, October 29, 2021, opened at N414.49 at the Investors & Exporters FX window ( I&E FX Window), where the currencies officially trade. This development represents a fact that naira gained as against the dollar, as it closed at N415.10, a 09% drop, on Thursday, October 28. According to...
Dollar to naira lingering issue has attracted the attention of the World Bank, such that it counselled the Central Bank of Nigeria (CBN) on how to stabilise the foreign exchange (forex) market. In an interview with Punch, Shubham Chaudhuri, the Country Director for Nigeria, World Bank, said even though the...
Dollar to naira has significantly increased, such that it has made the Nigerian local currency suffer a steady under President Muhammadu Buhari's watch. Unmask NG understands that within a period of six years that Buhari rode into power on the promise of making naira stronger as against the dollar, the...
President Muhammadu Buhari has bragged about the launch of eNaira, saying under his watch, Nigeria became the first country in Africa to float a digital currency. Speaking at the official launch of eNaira in Abuja on Monday, October 25, 2021, the president stated: "We have become the first country in...