Just a few minutes after the Naira slid to $/N1,220 against the US Dollar at the parallel market on Monday, October 23, President Bola Tinubu has assured Nigerians that he is not relenting in making sure that foreign exchange liquidity improves. On Monday, Naira experienced its worst value against the USD in history closing at […]
Tinubu Speaks on FOREX As Naira Falls To N1,220 Against Dollar Read More »
A financial analyst Kalu Aja has proffered solutions to the lingering FOREX crisis in Nigeria, saying it is possible for the country to achieve a $/N500 exchange rate. At the time of publication, the US dollar was exchanging at N1,165, EURO at N1,168, while British Pound was N1,350 at the parallel market. At the I
How To Achieve USD/N500 Exchange Rate – Financial Expert Reveals Read More »
The dollar closed at $/N782.68 Thursday, October 19, 2023, according to data from the FMDQ website, while it closed at N1,160 to a dollar at the parallel market, that’s a gap of N377.32 between the Naira and the US Dollar. It’s time for Nigeria to make a bold move: to either devalue or defend the
To Devalue or Defend The Naira? CBN Must Make A Choice (OPINION) Read More »
Will a crate of eggs reduce to N700 from N2,700 (the current price) as Nigeria’s apex bank lifted the FOREX restriction on 43 items? On Thursday, October 12, 2023, the Central Bank of Nigeria (CBN) in a statement said it has lifted the ban on 43 items that were initially banned from accessing Forex at
8 Things You Need to Know About CBN’s Lifting of FOREX Restrictions on 43 Items Read More »
Has Tinubu returned fuel subsidy? In the month of August 2023, President Bola Tinubu-led government paid $220 million or N169,556,200,000 (at N770.71/$ rate) as subsidy payment to fix petrol price at N617 per litre, a document by Federal Account Allocation Committee (FAAC), has revealed. What does this mean? Technically, it means that fuel subsidy is back through
Facts About Fuel Subsidy Payment Under Bola Tinubu Read More »
For the first time in the history of Nigeria, the Naira may cross over N1,000 to the US dollar by the end of September, if the pressure on the Nigerian currency continues the way it has been for the past four days. On September 18, $/N closed at N965 while € and £ closed at
Naira May Exchange for N1,045 to a Dollar By September 30 Read More »
From dollar-denominated debt obligations, reckless minting of Naira to limited reserves to defend the naira, and persistent depreciation of the Nigerian currency are some of the economic issues ahead of Olayemi Cardoso, the new governor of the Central Bank of Nigeria. He needs to speedily address these issues to gain the confidence of local and
10 Forex Issues Olayemi Cardoso Must Speedily Address Read More »
How much did Nigeria spend on subsidy payments under Buhari? Nigeria spent about N16.9 trillion or $36.6 billion as a subsidy on the importation of 132.24 billion litres of Petrol into Nigeria under the Muhammadu Buhari-led government between June 2015 to June 2023. The exchange rate is based on May 16, 2023, at $/461. The exchange
Subsidy Payment in Nigeria Between June 2015 to June 2023 Read More »
The pressure on the Naira remains unsolved as it crashed yet again to $/N970 against the US dollar at the unofficial market on Tuesday, September 19, 2023. It is the latest record low for the Nigerian currency after it exchanged for $/N965 at the parallel market a day earlier. Some of the operators of the
Naira Crashes To $/N970 at Parallel Market Read More »
In 2021, exports from Italy to the rest of the world were valued at $597 Billion USD, making the country ranked No. 7 in terms of exports among 226 countries. Italy also imported goods and services worth $570 Billion USD , according to The Observatory Economic Complexity (OEC). But this article focuses on Italy’s top
Top 20 Products Italy Export the Most Read More »
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