DPR Upbeat About Oil Reserve, FDI Inflow
The Department of Petroleum Resources (DPR) has restated its belief in a brighter future for Nigeria’s oil and gas industry.…
Month: October 2020
GTBank Increases International Monthly Spending Limit To $200
Guaranty Trust Bank (GTBank) has increased its monthly spending limit on the GTBank Naira Mastercard for international transactions to $200.…
Naira Trades Weaker At N460/$1 At Black Market
The Naira finished weaker against the US Dollar at the parallel market on Monday, October 12 by N3 or 0.66…
CBN Extends AGSMEIS Loans To 14,638 Applicants
The Central Bank of Nigeria has said it is extending its Agri-Business/Small and Medium Enterprise Investment Scheme loans to 14,638…
Exchange Rate Falls Across Forex Markets As Dollar Supply Drops
Exchange rate depreciates at NAFEX window as forex liquidity drops further by 57%, Central Bank Continues intervention in Forex market…
NPA Generates N1tn Revenue In Four Years
The Nigerian Ports Authority has generated a revenue of N1.02tn in the space of three years under the tenure of…
OPEC: Global Crude Oil Demand To Peak In 25 Years
The Organisation of Petroleum Exporting Countries (OPEC) has projected that despite the growing need for renewables as a source of…
Imminent Supply Can’t Weaken Demand For Euro Zone Bonds
Government bond yields in the euro area held near recent lows on Tuesday, with even hefty supply failing to put…
UK Jobless Rate Hits 4.5% As Work-Protection Plan Nears End
Britain’s unemployment rate rose by more than expected in the three months to August, before the end of the government’s…
Dollar Bounces Back, Yuan Slips After China Appears To Keep A Tab On Its Currency
The dollar bounced back from a three-week low on Tuesday as market players bought it back, particularly against riskier peers,…
FGN Proposes Unprecedented Deficit To Drive Economic Recovery
2021 Budget of Economic Recovery and Resilience President Muhammadu Buhari presented the 2021 proposed budget, titled the Budget of Economic…
Protesters Invade Police Station, Release Kidnap Suspects
The protest turned violent in the Surulere area of Lagos as protesters besieged the Anti Kidnapping Unit of the Command,…
IMF And World Bank Must Lend More To Africa’s Stricken Economies, Critics Say
Multilateral institutions like the World Bank and the IMF have come under fire from African ministers and economists who say…
Nigeria’s 2021 Budget Of Economic Recovery And Resilience
Following the approval of the 2021 – 2023 Medium-Term Expenditure Framework and Fiscal Strategy Paper, President Buhari has presented the…
A Budget Of Many Spurious Assumptions
Increasingly, Nigeria’s yearly appropriations are gaining more weight. The 2021 estimate President Muhammadu Buhari presented to the National Assembly last…
Leverage Agriculture To Boost Foreign Exchange Earnings, NBCC President Advises
President of the Nigerian-Belgium Chamber of Commerce (NBCC), Timi Austen-Peters, has said that the potential in the agriculture sector can…
Liverpool Businesses Ordered Shut As ‘Traffic Light’ Lockdown System Confirmed
Pubs and bars in Liverpool face closure from Wednesday, after UK prime minister Boris Johnson announced tougher new restrictions to…
Naira Gains N8 As Equities Make N778bn
THE naira appreciated by N8 in the last one week at the parallel market and the equities market recorded major…
Oil Prices Fall As Supply Concerns Ease
Oil prices fell on Monday as force majeure at Libya’s largest oilfield was lifted, a Norwegian strike affecting production ended…
FEC Approves $3.02bn Port Harcourt/Maiduguri Railway Project
Oil prices fell on Monday as force majeure at Libya’s largest oilfield was lifted, a Norwegian strike affecting production ended…
FG Extends Suspension Of New Electricity Tariff By One Week
The federal government and the organised labour last night resolved to extend the suspension of the new electricity tariffs by…
Apapa Gridlock: Maritime Workers Issue 21-Day Ultimatum, Threaten Strike
The Maritime Workers Union of Nigeria has identified four shipping companies responsible for the gridlock caused by heavy duty trucks…
Retirement Age Increase Worsens Youth Unemployment –ABCON
The Association of Bureaux De Change Operators of Nigeria has cautioned the government against increasing the retirement age. ABCON stated that…
Currency Slump Inducing Cryptocurrency Transaction In Africa
At a time like this when the global pandemic has put more countries than ever imagined in a state of…
Exporters Call For Payment Of N200bn Outstanding EEG Debt
The Manufacturers Association of Nigeria Export Promotion Group (MANEG) has called on the Federal Government to pay the outstanding Export…
FACAN Rallies To Unban Nigeria From EU
THE President, Federation of Agricultural Commodity Associations of Nigeria (FACAN), Dr Victor Iyama, has urged for efforts to get Nigeria…
Sterling Holds Above $1.30 Ahead Of New Lockdown Measures
Sterling edged lower against the dollar on Monday with British Prime Minister Boris Johnson expected to announce new restrictions as…
Dollar Sticks Near Three-Week Lows As Markets Bet On Eventual U.S. Stimulus
The dollar held near three-week lows on Monday amid optimism about fiscal stimulus in the United States, while the yuan…
Yuan’s Gains May Be Capped After PBOC Cuts Shorting Costs
The yuan came under pressure in early Monday trade, dragging regional counterparts lower with it, after authorities made it easier…
CBN To Enforce Banks’ Compliance With SWIFT Code
The Central Bank of Nigeria has ordered banks to comply with the SWIFT universal payment confirmation. It stated this in…