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Dollar strengthens against naira at start of new business week

The US dollar opened the first business week of March stronger against the naira, with activity in the parallel market reflecting higher exchange rates compared to the previous trading sessions.…

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Concerns grow over Dangote refinery influence on Nigeria’s petrol supply market

Nigeria’s petrol supply structure is undergoing a shift as domestic refining capacity expands with the operation of the Dangote Petroleum Refinery. The refinery has increased local production of refined petroleum products and now plays a major role in supplying petrol…

Nigerian banks strengthen capital as recapitalisation programme progresses

Nigeria’s banking sector is undergoing a significant transformation as financial institutions continue to strengthen their capital positions in response to the recapitalisation programme introduced by the Central Bank of Nigeria.…