Diaspora Investors Drive Surge in Lagos Luxury Property Prices Currently one-bedroom luxury flats in Lagos are priced at around ₦180 million In Victoria Island Quantum Properties is leading this trend Rental prices in Lagos’ luxury property market have surged to unprecedented levels, with prime two-bedroom apartments now commanding as much as ₦38 million annually, according … Read more
CBN Reforms, Diaspora Trust Driving Remittance Surge – Dabiri-Erewa Dabiri-Erewa described the jump in remittance inflow as “humongous” “Our exchange rate is becoming a lot more competitive” – Cardoso Hon. Abike Dabiri-Erewa, Chairman/CEO of the Nigerians in Diaspora Commission (NiDCOM), has hailed the recent surge in diaspora remittances as a major boost to Nigeria’s economy, … Read more
The Naira depreciated against the dollar in official and parallel foreign exchange markets to barely 24 hours to 2025. EDITOR’S PICKS PDP Declares Ethiope East Federal Seat Vacant Following Ibori-Suenu’s Defection to APC Retired Principals Call for Recognition and Better Welfare from Government BREAKING: IGP Egbetokun Orders Major Shake-Up, Deploys New AIG to Lagos FCID … Read more
Prince Ademola Adegoroye, former Minister of State for Transportation, has expressed optimism about President Bola Tinubu’s 2025 budget proposal, describing it as a strategic plan to tackle Nigeria’s economic and security challenges. Speaking at the Nigeria Bar Association (NBA) Akure branch’s annual dinner, Adegoroye noted that the N49.7 trillion budget proposal marks a significant increase … Read more
Wale Edun Dad’s Delegation to Saudi-Arabia Saudi EXIM Bank Keen on Collaborating with Nigerian Institutions for Future Transactions Nigeria Request $5 Billion Trade Loan In a move aimed at fostering stronger economic relations, Nigeria and Saudi Arabia are taking steps to enhance export credit, insurance frameworks, and market access between the two nations. Eko Hot … Read more
Centralized Data and Enhanced Tracking: NNPC’s Strategy to Revolutionize the Energy Sector Mele Kyari’s Has Achieved A Production Increase to 1.8m bpd PMCC: A Transformative Step in Boosting Oil Production and Operational Efficiency The Nigerian National Petroleum Company Limited (NNPC Ltd.) has introduced the Production Monitoring Command Centre (PMCC), a transformative initiative aimed at revolutionizing … Read more
ATCON Highlights Systemic Challenges as Nigeria’s Broadband Goals Loom Broadband: Telecoms Firms Task Govt With Improving Infrastructure Emoekpere Calls for Government Action to Achieve 2025 Broadband Connectivity Targets The Association of Telecommunications Companies of Nigeria (ATCON) has urged the Federal Government to address the infrastructural deficit, economic constraints, and systemic challenges hindering the expansion of … Read more
Forbes’ 2009 Billionaires list highlighted the wealth of Black Americans, featuring Oprah Winfrey as the sole billionaire with $2.7 billion. Other notable figures included Robert Johnson of BET ($550 million), Michael Jordan ($525 million), and Magic Johnson ($500 million). EDITOR’S PICKS Sanwo-Olu Donates N75M to Support Legionnaires and Families of Fallen Heroes Current Cement Prices: … Read more
Dangote Industries Limited President, Aliko Dangote, has applauded President Bola Tinubu’s naira for crude swap deal, citing its positive impact on Nigeria’s economy and the subsequent reduction in petrol prices. Eko Hot Blog reports that im a statement released on Saturday, Dangote announced a partnership with MRS Petrol station, which will see petrol sold at … Read more
Interswitch, a leading integrated payments and digital commerce company in Africa, has reaffirmed its commitment to driving innovation and empowering young talent in Nigeria. Eko Hot Blog Reports that the company recently sponsored the Financial Services Innovators (FSI) Intensive Software Testing Programme, which trained 100 university students, emerging innovators, and tech enthusiasts over an 8-week … Read more
The Committee of Banks in Nigeria demonstrated their solidarity and support for the victims of the recent flooding in Jigawa State with a visit to Dutse on Thursday. Eko Hot Blog reports that during this visit, the committee, led by Chairman and Group Managing Director/Chief Executive Officer (GMD/CEO) of United Bank for Africa Plc (UBA), … Read more
The Acting Director General of the Nigerian Civil Aviation Authority (NCAA), Capt. Chris Ona Najomo has said that Nigeria’s aviation sector is poised to play a pivotal role in driving economic transformation, fostering regional integration, and enhancing community connectivity. Ekohotblog reports that Najomo cited the country’s improved ranking on the Aviation Working Group’s Cape … Read more
The naira weakened against the dollar on Friday in the foreign exchange market, ending the week on a downward trend. According to data from the Central Bank of Nigeria’s FX rate, the naira depreciated to N1,540.00 per dollar on Friday, compared to N1,532.00 on Thursday, reflecting a slight decline of N8 at the official market. … Read more
The House of Representatives is working to strengthen Nigeria-South Korea relations, according to Hon. Kolawole Akinlayo, the newly appointed Chairman of the Nigeria-South Korea Friendship Group Committee. Hon. Kolawole Akinlayo announced plans to meet with the South Korean Ambassador to Nigeria next week to discuss strengthening bilateral ties. He also called for a peaceful resolution … Read more
The naira appreciated against the dollar in both the official and parallel foreign exchange markets on Thursday. According to data from the Central Bank of Nigeria (CBN), the naira closed at N1,532 per dollar, up from N1,545 on Wednesday. Similarly, data from FMDQ indicated that the naira strengthened to N1,534.35 per dollar on Thursday, compared … Read more
The exchange rate between the naira and the US dollar fell to approximately N1,745/$1 on the parallel market on Wednesday, marking a sharp decline from the N1,600/$1 levels recorded at the end of last week. On various platforms, peer-to-peer (P2P) exchanges quoted rates as low as N1,715/$, while some International Money Transfer Operators reported rates … Read more
The Naira settled at N1538.50 per dollar at the foreign exchange market for the first time after an appreciation streak. The Central Bank of Nigeria’s foreign exchange change data on Monday showed that it stood at N1,538.50 per dollar, slightly down from N,1535 recorded on Friday. This represents an N3.5 depreciation compared to the N1535 … Read more
The Naira appreciated massively at the official and parallel foreign exchange markets on Friday to end the week on a good note. The Central Bank of Nigeria’s exchange market data showed that the Naira appreciated to N1,535 per dollar on Friday from N1,567 per dollar on Thursday. This showed that the Naira gained N32 against … Read more
Nigeria’s exports to France soared to over N3.9 trillion (approximately $2.4 billion) in the first half of 2024, securing France’s position as Nigeria’s top export destination among individual countries. According to data from the National Bureau of Statistics (NBS), Nigeria’s total exports for the same period amounted to around N38.5 trillion ($24 billion). This robust … Read more
The Naira appreciated significantly against the dollar at the foreign exchange market as FX supply rose on Thursday. FMDQ data showed that the Naira strenghthened to N1644.86 on Thursday from N1660.83 traded on Wednesday. This represents a N15.97 appreciation against the dollar compared to the N1660.83 exchange rate on Wednesday. Meanwhile, at the black market, … Read more