Oil Drops On Worries Inflation May Dent Fuel Demand Growth
Oil prices dropped on Wednesday, after a mixed finish in the previous session, amid worries that soaring coal and natural gas prices in China, India, and Europe will stoke inflation…
Nigeria Crude Oil Production Is 360,000 bpd Lower Than OPEC Quota Despite The Slight Increase It Experienced
Nigeria saw its crude oil production increase slightly last month to about 1.25 million barrels per day, which is 360,000 bpd lower than the quota given to it by the…
Federal Government Of Nigeria Targets $150 Billion Foreign Reserve From Non-Oil Export
The Federal Government says its target is to add at least $150 billion to the nation’s foreign reserves cumulatively from non-oil exports over the next 10 years. The government also…
Australian Shares Snapped Three Straight Sessions Of Losses
Australian shares snapped three straight sessions of losses on Thursday, helped by tech stocks and a near 5% jump by South32 after it forayed into copper just as demand is…
Federal Inland Revenue Services Generated Revenues Worth N4.2 Trillion In Nine Month
Muhammad Nami, executive chairman of the Federal Inland Revenue Services (FIRS), says the agency generated revenues worth N4.2 trillion in the first nine months of this year. The senate had…
Credit Card Reader “Sumup” Expand Across U.S By Acquiring Marketing Start-Up “Fivestars”
SumUp, a U.K.-based payment processor, has acquired marketing start-up Fivestars in a bid to expand its reach across the U.S. and take on giants like PayPal and Square. The company…
Despite Forex Scarcity Fuel Imports Consumed $690 Million In Eight Month
As Nigeria’s refineries continue to sit idle, fuel imports remain a major user of foreign exchange as $690.19m (about N285.95bn, using N414.3/$, I&E rate as of Tuesday) was utilised in…
International Monetary Fund Increases Nigeria’s Growth Prospect To 2.6% & 2.7% For 2021 & 2022
The International Monetary Fund (IMF) has increased Nigeria’s growth prospect to 2.6 per cent and 2.7 per cent for 2021 and 2022, respectively, despite reducing the rate of global growth…
UN Promise To Support Nigeria Industrialisation So As To Achieve Sustainable Development Growth
The United Nations (UN) has promised that it is committed to supporting Nigeria’s industrialisation bid as the country progresses towards achieving sustainable development goals (SDG). Deputy Secretary General of the…
Kaspersky Blocks 206 Thousand Mobile Malware Attack For Middle East, Turkey and Africa In Six Month
Out of the more than 206 000 mobile malware attacks blocked by Kaspersky solutions for the Middle East, Turkey and Africa (META) region in just six months measured between January…
South Africa Telecom Provider “Telkom” Ends Partnership With Netflix
South Africa telecom provider, Telkom said Netflix will no longer be available on the South African phone and internet company’s set-top box from October. According to Content Executive Wanda Mkhize,…
Subsidizing Fossil Fuels Encourage Overuse Of Fuels: President Of World Bank Group
The President of the World Bank Group, David Malpass, has called against fossil fuel subsidies, adding that subsidised fossil fuels encourage the overuse of fuels. He said this at the…
U.S. Beats China To Become Top Destination For Bitcoin Miners
The U.S. is now the number one destination for bitcoin miners, eclipsing China for the first time ever. While it was already trending in that direction, new data from Cambridge…
BVN: Violators Will Be Sanctioned- Central Bank of Nigeria
The Central Bank of Nigeria has said in its revised regulatory framework for Bank Verification Number operations that violators will be sanctioned. It said this in a circular to all…
Nigerian Stock Exchange: Equity Market Gain N95.34 Billion
The equities market of the Nigerian Exchange Limited upturned the previous day’s loss with a N95.34bn gain on Tuesday following renewed buying interest in 27 stocks. The NGX All-Share Index…
IHS To Become Largest African Company On Wall Street
An African operator of mobile phone masts, IHS Towers might become the largest Africa-focused company on Wall Street if its New York listing goes ahead this week. The company, which…
World Bank – Low Income Countries’ Debt Rose To $860bn In 2020
The World Bank on Monday said governments around the world responded to the COVID-19 pandemic with massive fiscal, monetary, and financial stimulus packages. While the measures were aimed at addressing…
CSOs Ask FG To ‘Urgently’ Investigate Nigerians Named In Pandora Papers
Civil society organisations (CSOs) have called on the federal government to begin investigation into persons and companies named in the Pandora Papers. The Pandora Papers project is led by the…
Nigeria’s Banking System Safe, Sound, NDIC Assures Despite Challenges
The National Deposit Insurance Corporation (NDIC) has declared that despite the devastating effects of the COVID-19 pandemic and other challenges, Nigeria’s banking system remains safe and sound. Managing Director and…
Naira Stable, Trades N570/$1 At Parallel Market Weeks After CBN/AbokiFX Row
Nigerian naira on Monday opened the week’s trading at N570 per dollar at the market – as vice president Yemi Osinbajo called for the devaluation of the currency.Street traders across…
More Ministers’ Sack Looms As Buhari Supervises Appraisal
There is the likelihood that President Muhammadu Buhari will sack more ministers when the ongoing performance appraisal is completed. The president alluded to this on Monday at the opening of…
Reasons FG Can’t Stop Fuel Subsidy Now – NNPC, Marketers, Experts
The Nigerian National Petroleum Corporation, oil marketers, and experts on Sunday explained why the Federal Government could not stop the petrol subsidy despite its non-inclusion in the 2022 budget. Independent…
Stockbrokers To Chart Long-Term Financing Plan For Nigeria
Stockbrokers have concluded arrangements to support the government’s growth agenda by fashioning out a sustainable model for medium to long-term financing of economic growth initiatives. Stockbrokers, under the auspices of…
Oil, Gas Sectors Critical Part Of ESG Equation
ESG investing” has become incredibly topical with activist investors over the last couple of years, but while there is a lot of focus on the “E” and “G” elements, an…
Nationwide Strike Suspended by NNPC
Nigerian petroleum tanker drivers have suspended a nationwide strike that was due to start on Monday to give negotiations a chance, their union said after state-owned oil firm NNPC warned…
International Monetary Fund Board Decision Hangs Over Georgieva As Annual Meetings Begin
Data-rigging allegations against International Monetary Fund Managing Director Kristalina Georgieva were set to loom over the opening of week-long IMF-World Bank annual meetings on Monday as the Fund’s executive board…
European Market Experienced Change After A Wavy Week
The pan-European Stoxx 600 hovered around the flatline in early trade, with travel and leisure stocks shedding 1.1% while basic resources gained 1.4%. Shares in Asia-Pacific were mostly higher on…
China’s Electric Car Startup Nio And Xpeng Reached 100,000 Production Within Six Year
China’s electric car companies are racing to ramp up production, faster than Tesla did in its early days. U.S.-listed start-up Xpeng said Monday it has produced 100,000 cars — it…
Asia Shares Edged Higher, Rising Yields Lift Dollar As Oil Surges
Asian shares edged higher on Monday courtesy of gains in China which also helped U.S. stock futures pare early losses while rising Treasury yields lifted the dollar to a near…
Nigeria Comes Sixth In Countries With Highest Exposure To Funds And Support From International Finance Corporation
Nigeria has been rated sixth among the top 10 countries with the highest exposure to funds and support from the International Finance Corporation, which is a member of the World…