A bag of cement cannot be sold below N7,000 due to the increasing cost of production, manufacturers said yesterday. They said the rise in operating costs was responsible for the price hike. The producers...

The Minister of Works, David Umahi, has summoned prominent cement manufacturers to a meeting over the rising cost of cement. He expressed worry that, despite huge patronage by road and housing contractors to cement...

It was on Friday gathered from retailers that demand for cooking gas fell “due to rising inflation rate”, resulting in low purchasing power of consumers. As gathered by INTEGRITY NEWS, the demand for Liquefied...

The naira suffered a fresh slide both at the official and parallel foreign exchange markets on Friday. The national currency depreciated to on Friday N1,670/$ from N1,600/$ recorded at the close of trading activity...

The naira appreciated slightly against the United States dollars at the Nigerian Autonomous Foreign Exchange Market on Thursday, closing at the rate of N1,498.25/$ from N1,503.38/$ recorded the previous day. This came as the...

The Central Bank of Nigeria (CBN) has announced that Personal and Basic Travel Allowances would only be paid electronically, not in cash, as part of an effort to address the nation’s foreign exchange crisis....

In its efforts to resolving the food crisis, Federal Government yesterday ordered the immediate release and distribution of 42,000 metric tonnes of grains from strategic reserves. According to the Federal Government, the grains will...

Dangote Petroleum Refinery has issued tenders to sell two fuel cargoes for export, the first from the newly commissioned refinery, trading sources with knowledge of the matter told Reuters. Nigerians have been eagerly looking...

Following the recent directive by the Central Bank of Nigeria, restricting the operations of International Money Transfer Operators to only inbound transfers, IMTOs have decided to halt dollar transfers to Nigerians. Despite a devaluation...

The Port Harcourt Refinery is set to start operations following the supply of 475,000 barrels of crude oil by Shell Petroleum Development Company Limited. The crude oil supply is the first to be made...