The president of Dangote Group, Aliko Dangote, has said that in the next two years, the 650,000 barrels per day refinery will be exporting almost 16,000 tonnes of fertiliser. Dangote disclosed this when he paid the managing director of NPA, Abubakar Dantsoho, a courtesy visit in Lagos. Africa’s richest man said the company’s fertiliser exports
The chairman, Federal Inland Revenue Service (FIRS), Zacch Adedeji, has revealed that the recognition of informal work by the National Bureau of Statistics (NBS) has contributed to the drop in Nigeria’s unemployment index. He revealed that the workforce in the informal sector in Nigeria accounts for about 92.6 percent of the employed population in the
The Managing Director of the Nigerian Ports Authority, Abubakar Dantsoho, said the last time the country built a new port was 48 years ago, in 1977. He disclosed this recently when the President of Dangote Group, Aliko Dangote, paid him a visit in Lagos. This comes as he announced that the Nigerian government has approved
The Security and Exchange Commission has said Nigeria’s collective investment or mutual funds targeted at children has grown to N8.6 trillion. The commission said this as it pushed for improved investment literacy among children in Nigeria. The Director General of SEC, Emomotimi Agama, disclosed this on Tuesday at a 2025 Children’s Day event in Abuja organised by Ryan
In recognition of its exceptional contributions to innovative financial solutions for Micro, Small, and Medium Enterprises (MSMEs), Fidelity Bank Plc has been awarded the 2025 Development Bank of Nigeria (DBN) Innovation Award in the Deposit Money Bank (DMB) category. This prestigious accolade celebrates Fidelity Bank’s commitment to addressing the unique challenges faced by MSMEs
The naira recorded significant depreciation against the dollar across official and parallel foreign exchange markets this week. Central Bank of Nigeria exchange data showed that the naira weakened to N 1,583.73 against the dollar on Tuesday compared to N 1,579.40 traded on Monday. This means that the naira depreciated by N4.33 against the dollar on
The Nigerian Financial Intelligence Unit has raised alarm over suspicious transactions amounting to N48 billion wired to Dubai and Hong Kong between 2021 and 2024, facilitated by Nigerian banks. NFIU disclosed this in a recently released report. The report revealed that 401 suspicious financial transactions worth N48 billion were linked to both regions between January
A popular Nigerian financial analyst and economist, David Adonri, Vice Chairman of Highcap Securities Limited, said investors at Nigerian Exchange Limited raked in N1.086 trillion in gains in a single day due to what he described as “the Tinubu boom.” His comments come as investors marked a record-breaking performance on Tuesday at the NGX. NAN
Nigerians have dumped the Nigerian National Petroleum Company Limited retail outlets over high prices of premium motor spirits. A DAILY POST correspondent who went round major NNPCL retail outlets in Abuja observed low patronage by motorists in the nation’s capital, Abuja. This was also the case for NNPCL retail outlets along Kubwa Expressway and those
Nigeria’s currency, the naira, recorded its highest depreciation against the dollar at the official foreign exchange market on Wednesday as President Bola Ahmed Tinubu marked his second anniversary. Central Bank of Nigeria exchange rate data showed that the naira weakened further to N1,590.74 on Wednesday from N1,583.73 traded on Tuesday. This means that the naira
