…facility would have a maturity of up to five years and is aimed at shoring up Pakistan's foreign exchange reservesThe request comes as Pakistan seeks to leverage its role in brokering Iran war talks into concrete economic gains from WashingtonFind it fast with our new search feature at Legit.ng! Pakistan has formally a…

…of refined petroleum products as inadequate domestic crude oil supply and persistent foreign exchange constraints continue to hamper its operations. This comes as rising global crude oil prices are expected to increase feedstock costs for the 650,000-barrels-per-day refinery, although stronger prices for refined petrol…

The naira appreciated at the official foreign exchange market on Monday ahead of the Central Bank of Nigeria’s, CBN Monetary Policy Committee, MPC, interest rate decision. CBN data showed that the naira gained slightly to N1,380.10 per dollar on Monday from N1,380.18 per dollar recorded last Friday. This means that at…

…argued that importing fuel at higher costs unnecessarily strains Nigeria’s foreign exchange reserves and weakens the naira, especially as the dollar exchange rate hovers around ₦1,400.Nigerians brace for change as depots hike petrol prices nationwide. Images“If we are having continuous and uninterrupted supply, our pro…

…₦1,200 per kilogram, but the sharp price escalation was triggered by supply constraints, foreign exchange challenges, and rising global energy costs.Relief for Nigerian householdsThe latest development has raised hopes of further price reductions if the increased importation trend continues and supply remains stable.Fo…

…improvements in Nigeria’s macroeconomic indicators, including the increase in foreign exchange reserves to $45.5bn by the end of 2025. However, it cautioned that the gains were driven largely by short-term portfolio investments rather than long-term productive capital capable of sustaining economic growth.

…CBN has issued new regulatory guidance directing BDC operators on how they must handle foreign exchange purchased through the NFEMThe apex bank warned that BDCs holding onto unutilised FX beyond the approved utilisation period risk forfeiture and suspension of market accessThe apex bank also launched a centralised FX B…

…Naira on Friday continued appreciating against the United States dollar at the official foreign exchange market to end the week on a good note. The Central Bank of Nigeria’s data showed that the Naira strengthened further on Friday to N1,380.19 per dollar from N1,381.53 exchanged on Thursday. This means that the Naira…

…aimed at addressing criticism of the reform programme suggesting that gains in revenue, foreign exchange liquidity and investor confidence have yet to translate into meaningful relief for households facing high food, transport and living costs. Speaking at a ‘ conference organised by BusinessDay newspaper, in Lagos, ye…

…external reserves, restored investor confidence, improved the functioning of the foreign exchange market, and placed inflation back on a downward trajectory despite global uncertainties.” He, however, stressed that macroeconomic stability alone would not raise living standards unless it was accompanied by higher produc…

…issued fresh guidelines on how licensed Bureau de Change, BDC, operators can purchase foreign exchange. The guidelines, signed by the CBN’s Director of the Trade and Exchange Department, Aderinola Shonekan, were issued in a circular dated July 15, 2026. According to the apex bank, the guidelines provide regulatory guid…

…in more than six years, raising expectations of higher export earnings, stronger foreign exchange inflows and improved government revenues if current price levels are sustained. Data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) showed that Nigeria’s average daily crude oil and condensate pr…

…transition is expected to heavily impact local marketers, who must now secure foreign exchange to buy fuel directly from the refinery. Consequently, retail pump prices across the country will become much more sensitive to daily fluctuations in the naira-to-dollar exchange rate, regulatory fees, and distribution logisti…

…fixed-income securities amid elevated interest rates and improving confidence in the foreign exchange market. Data from the capital importation report released by the National Bureau of Statistics showed that bond investments accounted for 32.71 per cent of the $9.86bn portfolio investments recorded during the quarter…

…incentives, the establishment of an automotive supplier development fund, priority foreign exchange access for industrial inputs, and dedicated energy and logistics support for manufacturers. "Nigeria risks becoming a major vehicle consumption market without developing into a significant automotive manufacturing hub,"…

…performance has been supported primarily by domestic macroeconomic reforms, improved foreign exchange liquidity and renewed investor confidence. by Linda Ikeji at 10/07/2026 7:33 AM | Share this Story

…equity market in dollar terms this year, buoyed by macroeconomic reforms, improved foreign exchange liquidity and renewed investor confidence. According to a Bloomberg report yesterday, Nigeria's benchmark stock index has returned 67 percent in dollar terms since the beginning of the year. The performance edged South K…

…official exchange rate standing at approximately ₦1,373.99 per dollar at the Nigerian Foreign Exchange Market (NFEM). Recent figures from the official market indicate that the local currency has continued to trade within a narrow range in recent days, as traders and investors closely monitor foreign exchange liquidity…

…N1,425/$ Nigeria's currency, the naira, is coming under renewed pressure in the parallel foreign exchange (FX) market as seasonal demand for dollars for summer travel, overseas school fees and business trips gathers momentum, widening the gap with the official exchange rate. Data collated from currency dealers showed t…

…traded at approximately ₦1,373.99 per United States dollar at the official Nigerian Foreign Exchange Market (NFEM) on Thursday, July 9, 2026, according to the latest available market data. Data from the official foreign exchange market showed the naira continuing to trade within a relatively stable range in recent sess…

…per dollar on Tuesday. But the naira was stable at N1,379 per dollar in the Nigerian Foreign Exchange Market (NFEM), as data from the Central Bank of Nigeria (CBN) showed that the indicative exchange rate remained unchanged at N1,379 per dollar. Consequently, the margin between the parallel and official markets narrowe…

…didn't once speak against the policy, even though Nigeria was heavily haemorrhaging foreign exchange through forex arbitrage. Why? Of course, Tinubu was right to remove the fuel subsidy and scrap the fixed exchange rate, but those decisions were, respectively, twelve years and eight years too late. Had Tinubu not mobil…

…across Africa that local refining has become increasingly critical to energy security, foreign exchange conservation, and industrial development. For decades, despite producing millions of barrels of crude oil daily, Africa has remained heavily dependent on imported refined petroleum products because of inadequate refi…

GistReel The Nigerian naira traded at ₦1,372.96 per United States dollar at the Nigerian Foreign Exchange Market (NFEM) on Wednesday, July 8, 2026, according to official market data. At the parallel market, commonly referred to as the black market, the dollar exchanged at approximately ₦1,400 per dollar for buying and…

…returned to profitability and accelerated debt repayment after weathering the impact of foreign exchange volatility and elevated borrowing costs in 2025. Finance cost is the total cost a company incurs for borrowing money or financing its operations. It is reported in the income statement and reduces a company's profit…