Foreign Exchange
Dangote Refinery Targets 1.4 Million Barrels Daily Capacity by 2029
The Dangote Petroleum Refinery plans to increase its processing capacity to 1.4 million barrels per day by early 2029, as the company pursues...
Nigeria Targets $2.1 Billion Annual Forex Savings Through Sugar Self-Sufficiency Plan
Nigeria could save about $2.1 billion annually in foreign exchange if it achieves self-sufficiency in sugar production under a 10-year programme being implemented...
Naira Breaks Below N1,500 per Euro for First Time in Two Years
The naira has strengthened beyond the N1,500-to-the-euro mark for the first time since April 2024, supported by improved foreign exchange conditions and a...
Olujimi Urges Patience as She Says Nigeria’s Reforms Could Deliver Prosperity
Former Senator Abiodun Olujimi has urged Nigerians to be patient with the Federal Government’s economic reforms, saying the policies are beginning to stabilise...
Japan Warns Markets Over Yen Weakness as Intervention Concerns Grow
Japan’s top currency diplomat, Atsushi Mimura, has warned financial markets to take seriously Tokyo’s message that it is prepared to respond to excessive...
Nigeria’s August Oil Output Rises 0.4% as Country Meets OPEC Quota for Fourth Month
By Benson Daniel Nigeria’s crude oil and condensate production increased marginally in August 2026, reaching an average of 1,677,777 barrels per day, as...
Pound Holds Steady as Markets Await ECB and US Rate Signals
The pound was little changed against the euro and dollar on Thursday as investors awaited an expected European Central Bank rate increase and...
Nigeria’s FX Utilisation Surges 91% to $50.93bn, Highest in Six Years
By Benson Daniel Nigeria’s total foreign exchange utilisation rose sharply to $50.93 billion in 2025, marking the highest annual level recorded in six...
