Naira appreciates against dollar after Independence holiday
The naira appreciated by over N20 against the dollar after the Independence holiday, driven by rising reserves and market optimism.
Business and Economy
Bitcoin jumps to $120,000 as investors seek safety
Bitcoin surged to $120,000 as investors sought safe-haven assets, with analysts pointing to ETF inflows, seasonal strength, and a bullish market structure.
No pact with Dangote refinery, strike threat lingers – PENGASSAN
PENGASSAN says it never signed the communiqué ending its strike against Dangote Refinery and warns it may resume work stoppage if its demands are not met.
Gold soars to record high amid start of US Government shutdown
Gold surged to a record high as a US government shutdown raised market uncertainties, while Wall Street futures fell and global markets reacted unevenly.
Potential U.S. shutdown may favor stock buyers – Expert
While some investors rushed into gold or money market accounts, Robert Conzo of The Wealth Alliance explains why he believes a potential shutdown offers buying opportunities for equity investors
New crude-for-Naira agreement to sustain Dangote Refinery operations
The Nigerian National Petroleum Company (NNPC) Limited has signed a new two-year crude supply agreement with Dangote Refinery to guarantee fuel security and sustain crude-for-naira allocations until 2027.
Nigeria’s external reserves hit $42.2bn, highest in six years
Nigeria’s external reserves have risen to $42.225 billion, the highest in over six years, driven by improved oil output, tighter forex policies, stronger remittances, and investor confidence.
Monthly profit of NNPCL rises from 91% to N539bn
NNPCL’s profit rose sharply to N539 billion in August despite declines in oil and gas output, with the company citing maintenance activities and highlighting progress on major gas pipeline projects.
FG: Crude oil output hits 1.8m bpd
Nigeria’s crude oil production rose from 1 million to 1.8 million barrels per day, with the government aiming for 2.5 million, while officials called for greater African energy sovereignty.
Pesticides are harming Nigeria: it’s time to update the law
The European Union has banned the use of several pesticides, and heavily restricted others. This is because of their potential health effects or environmental contamination, or because there’s not enough data to be sure that they aren’t harmful. Over 50% of these pesticides are still registered in Nigeria, however.