Prime Business Africa

22/07/2025

What is the dollar-to-naira exchange rate on the black market, like the Aboki Fx?
The exchange rate for the US dollar (USD) to Nigerian naira (NGN) in the parallel market, also known as black market, as of 22nd July 2025, is N1,540 for 1 USD.

This rate is often sourced from the latest data provided by Bureau De Change (BDC) operators.

The exchange rate for the US dollar (USD) to Nigerian naira (NGN) in the parallel market, also known as black market, as of 21st July 2025

22/07/2025

After ending last week on a positive note, the Nigerian naira depreciated against the United States Dollar across official and parallel foreign exchange windows as the market opened this week.

The Central Bank of Nigeria’s foreign exchange data showed that the naira fell marginally against the dollar on Monday, 21 July 2025, to ₦1,532.54. This reflects N0.20 decline when compared to ₦1,532.34 traded last Friday.

Nigerian naira depreciated against the United States Dollar across official and parallel FX market windows as the market opened this week.

22/07/2025

This will be a week defined by high-impact events and corporate earnings from the largest companies in the world.

Nigeria’s central bank is expected to hold interest rates on Tuesday.

This decision is likely based on still stubbornly high inflation despite price pressures easing in recent months. Inflation slowed to 22.2% year-on-year in June, its third consecutive decline. A CBN rate cut could be on the cards in H2, but this will be on the back of persistently falling price pressures.

This will be a week defined by high-impact events and corporate earnings from the largest companies in the world.

22/07/2025

Nigeria’s economy grew by 3.13 per cent year-on-year (YoY) in real terms in the first quarter (Q1) of 2025.

This is according to data released by the National Bureau of Statistics (NBS) on Monday, 21 July 2025.

Nigeria’s economy grew by 3.13 per cent year-on-year (YoY) in real terms in the first quarter (Q1) of 2025.

22/07/2025

Nigeria’s economy grew by 3.13 per cent year-on-year (YoY) in real terms in the first quarter (Q1) of 2025.

This is according to data released by the National Bureau of Statistics (NBS) on Monday, 21 July 2025.

22/07/2025

The market capitalisation of the Nigerian Exchange Limited (NGX) increased to N83.39 trillion on Monday, July 21, from N83.39 trillion recorded on Friday, July 18

The market capitalisation of the Nigerian Exchange Limited (NGX) increased to N83.39 trillion on Monday, July 21, from N83.39 trillion recorded on Friday, July 18.

22/07/2025

The Nigerians in Diaspora Commission (NiDCOM) has unveiled a major housing initiative aimed at providing Nigerians living abroad with secure, transparent, and verifiable real estate investment opportunities back home.

Known as the Diaspora Home and Abroad Housing Platform, the scheme will be officially launched during the 2025 National Diaspora Day celebrations, scheduled to take place in Abuja from July 25 to 26. The platform is designed to help millions of diaspora Nigerians navigate property acquisition in Nigeria without falling prey to fraud or misrepresentation, common concerns that have plagued overseas investors for years.

NiDCOM has unveiled a major housing initiative aimed at providing Nigerians in diaspora with verifiable real estate investment

22/07/2025

In recognition of the role of waste recycling both to the environment and the economy, Nestlé Nigeria has launched a comprehensive Safety, Health, and Environment (SHE) Training Programme, aimed at empowering 100 plastic waste workers across Lagos and Abuja.

The initiative, which is part of the company’s ongoing commitment to environmental sustainability and social inclusion, aims to enhance the safety and wellbeing of these plastic waste workers while empowering them and promoting their dignity within the plastics recycling value chain.

Nestlé Nigeria has launched a Safety, Health, and Environment (SHE) Training Programme, aimed at empowering 100 plastic waste workers

22/07/2025

In recognition of the role of waste recycling both to the environment and the economy, Nestlé Nigeria has launched a comprehensive Safety, Health, and Environment (SHE) Training Programme, aimed at empowering 100 plastic waste workers across Lagos and Abuja.

The initiative, which is part of the company’s ongoing commitment to environmental sustainability and social inclusion, aims to enhance the safety and wellbeing of these plastic waste workers while empowering them and promoting their dignity within the plastics recycling value chain.
https://www.primebusiness.africa/nestle-nigeria-trains-100-plastic-waste-workers-for-sustainable-future/

22/07/2025

Plans by Dangote refinery to begin direct supply of petroleum products to end users have been met with opposition by Natural Oil & Gas Suppliers Association of Nigeria (NOGASA).

The group said the move, which would lead to bypassing the existing distribution chain, might severely disrupt the oil and gas sector, affecting thousands of jobs and threatening the current business models of suppliers across the country.

Plans by Dangote refinery to begin direct supply of petroleum products to end users have been met with opposition by Natural Oil & Gas Suppliers Association of Nigeria (NOGASA).

16/07/2025

Geregu Power closed the second quarter (Q2) of 2025 with N55.87 billion in revenue, surpassing the N30,24 billion generated in Q2 2024, representing an increase of 84.71 percent.

Geregu Power closed the second quarter (Q2) of 2025 with N55.87 billion in revenue, surpassing the N30,24 billion generated in Q2 2024, representing an increase of 84.71 percent.

16/07/2025

The investment of the Elumelu family in Transnational Corporation (Transcorp Plc) has increased by N13.15 billion in the second quarter (Q2) of 2025, following an 8.05 percent increase in the company’s share price.

The investment of the Elumelu family in Transnational Corporation (Transcorp Plc) has increased by N13.15 billion in the second quarter (Q2) of 2025, following an 8.05 percent increase in the company’s share price.