PM News Nigeria

Inflation in Nigeria stands at 8% – NBS

Statistician-General of the Federation, Dr Yemi Kale

The National Bureau of Statistics (NBS) on Tuesday said the inflation rate stood at 8.0 per cent in December 2014, 0.1 per cent higher than 7.9 per cent earlier recorded in November. This was contained in a statement issued in Abuja by the Statistician-General of the Federation, Dr Yemi Kale. According to the NBS, in […]

Customs rakes in N977.09bn revenue in 2014

Custom boss, Dikko Abdullahi

The Nigeria Customs Service (NCS) raked in about N977.09 billion revenues in 2014 from its target of N1.2 trillion for the year. According to the service’s summary of monthly revenue figure obtained by NAN on Thursday in Abuja, the revenue came from import and excise duties, levies and other fees. NAN reports that the revenue […]

Nigeria’s foreign reserves hit $34.49 bn

Central Bank of Nigeria Governor, Godwin Emefiele

The Central Bank of Nigeria (CBN) on Wednesday pegged the nation’s foreign exchange reserves at 34.49 billion dollars (N5.74 trillion) as at Jan. 5. NAN reports that the CBN posted the foreign exchange reserves data on its website. According to the bank, the figure represents an increase of 20 million dollars (N3.36 billion) from the […]

Euro falls to nine-year low against the dollar


The euro fell to a near nine-year low against the dollar in Asia Monday after the head of the European Central Bank hinted that policymakers would unleash fresh easing measures to counter weakness in the eurozone. The single currency’s losses added to a sell-off on Friday that came in response to the publication of Mario […]

Naira devaluation not good for our economy, says APC

Alhaji Lai Mohammed

All Progressives Congress (APC) has critised devaluation of the naira and has described the development as not healthy for Nigeria’s economy. The National Publicity Secretary of APC, Alhaji Lai Mohammed, on Wednesday in Abuja told journalists that the devaluation of currency had its implications on the people and the economy. “When the currency is devalued, […]

Nigerian naira devaluation leads to fears about the economy

Godwin Emefiele, CBN Governor

Nigerians on Wednesday voiced fears about the central bank’s devaluation of the naira, warning that a country largely dependent on imports will be hit hard by the measure. The Central Bank of Nigeria (CBN) knocked eight percent off the value of the local currency to the US dollar as part of moves to limit the […]

Central Bank devalues naira, seeks to stabilize currency

Central Bank of Nigeria Governor, Godwin Emefiele

Nigeria devalued its currency on Tuesday, seeking to stabilise the naira after it hit historic lows against the US dollar, as falling world oil prices hurt the country’s foreign reserves. The naira’s street value had already fallen before the surprise moves announced by Central Bank of Nigeria (CBN) Governor Godwin Emefiele. It had been trading […]

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