By JKNewsMedia NIGERIA’s CURRENCY, the naira, remained stable at N1,379.6504 to the dollar at the official foreign exchange market on Monday. JKNewsMedia.com reports that the currency has maintained the same rate since the market’s last auction on Friday. Dealers quoted bid rates ranging between N1,378 and N1,382 to the dollar dur...
By Olaide Ajibola, JKNewsMedia Reporter HIGHER PRICES for essential goods will further aggravate poverty and food insecurity in Nigeria despite improved macroeconomic stability, the International Monetary Fund (IMF), has said while maintaining its growth forecast for the country at 4.1 percent in 2026 and 4.3 percent in 2027. JKNewsMedia.com ...
By Joke Kujenya OIL PRODUCING alliance OPEC+ has agreed to increase its oil production target by 188,000 barrels per day from August, adding more crude to the global market as prices continue to decline. JKNewsMedia.com reports that the decision was reached during an online meeting, with the alliance extending the same production increase imp...
By JKNewsMedia FRESH GAINS by the Naira at the official foreign exchange market saw the local currency close at N1,369.10 to the dollar on Monday, strengthening from N1,370.45 recorded at the end of trading on Friday. JKNewsMedia.com reports that data published on the website of the Central Bank of Nigeria (CBN) showed that the currency [&hel...
By Koforola Fakeye, JKNewsMedia Reporter FIRST HALF of June 2026, Nigeria’s external reserves increased by more than $1 billion extending gains recorded in May and strengthening the country’s foreign exchange buffers. JKNewsMedia.com reports that data from the Central Bank of Nigeria (CBN) showed that gross external reserves rose from $49.80 ...
By Kofoworola Fakeye, JKNewsMedia Reporter CONSUMER PRICES continued to rise in May as Nigeria’s headline inflation rate increased to 15.93 percent, marking the third consecutive monthly rise in 2026, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS). JKNewsMedia.com reports that the...
Kofoworola Fakeye, JKNewsMedia Reporter OIL PRODUCTION climbed to an 11-month high in May 2026 in Nigeria, with output surpassing its Organisation of the Petroleum Exporting Countries (OPEC) production quota. JKNewsMedia.com reports that the country recorded an average crude oil production of 1,530,354 barrels per day (bpd) and 170,446bpd of ...
By JKNewsMedia LONG TERM value creation, financial resilience and disciplined growth remained at the centre of discussions as Access Holdings Plc assured shareholders that its strategic focus remains firmly on building a stronger and more sustainable institution despite a challenging operating environment. JKNewsMedia.com reports that speakin...
By JKNewsMedia NIGERIA’s SPENDING on imported food declined in 2025 as new figures from the Central Bank of Nigeria (CBN) fourth quarter 2025 statistical bulletin showed a reduction in food import expenditure even as total imports rose sharply. JKNewsMedia.com reports that food import spending fell to $2.34 billion in 2025 from $2.53 billion ...
By Kofoworola Fakeye, JKNewsMedia Reporter MAJOR FOOD staple prices recorded significant year on year declines, according to the National Bureau of Statistics (NBS) Selected Food Price Watch report, reflecting lower costs compared to the record high levels of the previous year and providing much needed relief. JKNewsMedia.com reports that the...
