Business

Petroleum Products, Wheat, Sugar Lead Import Chart

Published

3 years ago

June 21, 2023

Despite the scarcity of petroleum products Nigerians experienced in the first quarter of 2023, Q1’23, Petroleum products led the import chart during the period with a total of 827,080 metric tons of fuel.

But industry sources told Vanguard that much of the product was diverted to the neighbouring countries.

The daily Shipping Position document from the Nigerian Ports Authority, NPA, which indicated this also showed that bulk wheat was placed second position on the chart with 433,774 metric ton. Bulk Sugar with 242,755 metric ton came third.

A breakdown of the commodities import showed that for Petroleum products, 185,546 metric tons came through the Lagos ports in January, a total of 391,425 was brought in February and the month of March recorded 155, 676 being the lowest for the month.

Some of the petroleum products include Premium Motor Spirit, PMS. Automated Gas Oil, AGO, otherwise known as Diesel, Aviation Fuel, Dual Purpose kerosene also known as DPK.

For bulk wheat, 172,851 were recorded in January, while February and March recorded 141,441 and 217,792 respectively.

During the period bulk gypsum recorded a total of 316,550 metric tons with a breakdown showing 155,470 for January, 48,680 for February while 111,100 was recorded against the month of March.

Salt also featured in the import chart as 88,750 metric ton was recorded while 66,560 metric tons of fish was also imported in the first quarter of the year.

Containerized cargoes also recorded an impressive figure as a total of 28, 596 of containers came into the country though the nation’s premier port of the Apapa quay. A breakdown of the figures showed that the month of February recorded the highest number of containerized with a record of 14,455 while January’s figure was put at 8,193 and March recorded 5,948.

For the first time in many years Char-Coal featured on the chart with a total of 49,759 metric tons came in only the month of January just as Palm oil also recorded a total of 20,999 metric ton in month of January as well.

Business

14 Nigerian Banks Yet To Meet CBN’s Recapitalization Deadline [FULL LIST]

Published

7 hours ago

January 9, 2026

Editor

With barely eleven weeks to the Central Bank of Nigeria’s (CBN) recapitalisation deadline, fourteen banks are yet to meet the requirement.

This comes as DAILY POST reports that 19 Nigerian banks had met the apex bank’s recapitalisation requirements as of January 6, 2025.

The banks that have complied with the CBN’s minimum capital benchmark include Access Bank, Fidelity Bank, First Bank, GTBank (GTCO), UBA, Zenith Bank, and twelve others.

However, as of the time of filing this report, fourteen Nigerian banks are yet to comply.

The banks that have not met the apex bank’s recapitalisation requirement include First City Monument Bank (FCMB), Unity Bank, Keystone Bank, Union Bank (Titan), Taj Bank, Standard Chartered Bank, Parallex Bank, and SunTrust Bank.

Others are FBH Merchant Bank, Rand Merchant Bank, Coronation Merchant Bank, Alternative Bank, and other non-interest banks.

Meanwhile, financial experts have predicted possible mergers and acquisitions ahead of the March 31 deadline.

Business

Naira Extends Appreciation Against US Dollar

Published

22 hours ago

January 8, 2026

Editor

The naira extended appreciation against the dollar at the official foreign exchange market on Wednesday.

The Central Bank of Nigeria’s data showed that the Naira further firmed up on Wednesday to N1,418.26 per dollar, up from N1,419.07 exchanged on Tuesday.

Wednesday’s uptrend represents a slight N0.80 gain against the dollar on a day-to-day basis.

Meanwhile, at the black market, the Naira remained unchanged against the dollar at N1,480 per dollar on Wednesday, the same rate recorded the previous day.

The development comes as Nigeria’s foreign reserves further rose to $45.62 billion as of January 6th, 2026.

Recall that on Tuesday, the Naira posted a N10.24 gain against the dollar.

Business

Naira Continues Gain Against US Dollar As Nigeria’s Foreign Reserves Climb To $45.57bn

Published

3 days ago

January 6, 2026

Editor

The Naira appreciated further against the United States Dollar at the official foreign exchange market, beginning the week on a good note.

Central Bank of Nigeria data showed that the Naira strengthened on Monday to N1,429.31 per dollar, up from N1,430.85 exchanged on Friday, 2 January 2026.

This means that the Naira gained N1.56 against the dollar on Monday when compared to N1,430.85 last week Friday.

At the black market, the Naira dropped by N5 to N1480 per dollar on Monday, down from N1475 traded Friday.

The development comes as the country’s external reserves rose to $45.57 billion as of Friday last week.