In Q2 2022, Nigeria’s Foreign Trade Will Reach N12.8trillion.
Nigeria reported total international trade of N12. 84 trillion in the second quarter of 2022, up 32.2% from the same…
Year: 2022
India Charges A 20% Levy On All Exports Of Rice.
India, the world’s largest exporter of the grain, put a 20% levy on exports of different grades of rice in…
Elon Musk $258billion Dogecoin Lawsuit Expands.
The price of Dogecoin purposefully driven up by more than 36,000% over the course of two years; according to an…
Crude Oil Refiners Association Of Nigeria Has Appealed To The CBN.
The Central Bank of Nigeria (CBN) urged to establish a crude refinery intervention fund; in order to promote efficient business…
Nigeria’s Oil Production Falls To A Record Low Of 972,394 Bpd.
In comparison to July 2022 output of 1. 08 million barrels per day, the decrease is more than 10%, and…
Blue-Chip Companies Suffered Losses.
The Nigerian Exchange Limited (NGX) continued to decline as a result of losses suffered by blue-chip companies. The All-share Index…
NASA’s Artemis Moon Rocket’s Initial Launch Will Be Delayed Due To A Fuel Leak.
NASA postponed an effort to launch its enormous, next-generation rocketship for the second time in a week. Blaming a persistent…
British Pound Declined When Compared To US Dollar.
The last time sterling hit $1.141 was during Margaret Thatcher’s administration in 1985, when it fell as much as 1%.…
United Airlines Acquires 200 Air Taxis And Spends $15million In Eve Air.
United Airlines Holdings Inc (UAL.O), a U.S. Airline, announced on that it would invest $15 million in the fledgling air-taxi…
Airlines Selling Tickets In Dollars Will Be Fined By The Nigeria FG.
The Minister of Aviation, Hadi Sirika, claimed several airlines rejected naira and instead charged ticket prices in dollars. Thereby violating…
Nigeria FG Intends To Enhance Gas Exports To Europe in 2022.
08, August, 2022 the price of Brent, the world’s standard for petroleum, decreased by 5.01%, or $4.65, to close at…
World Bank Distributes $31.7billion, Gives $700million To Nigeria.
The World Bank reported that 2022 is among the ten warmest years on record. And that the effects of the…
Stocks Plunge On Fed Rate Rise Predictions, And The Yen Falls To A New 24-year Low.
The Japanese yen was trading at 144.95 yen per US dollar, its lowest level since August 1998. If “rapid, one-sided”…
Nigeria FG To Collaborate With Qatar On Cultural Promotion.
Yakubu Ahmed, the Extraordinary and Plenipotentiary Ambassador of Nigeria to the State of Qatar; has asked for cooperation between the…
Even with Dangote and NNPC Refineries, Petrol Will Sell Above N400/Litre.
An analysis of oil prices, import duties, and refinery contracts shows that even if the Dangote Refinery and those controlled…
Oil Prices Fluctuate Due To Russian Supply Concerns And Economic Troubles.
Oil prices varied drastically as the market tried to balance demand concerns; about the impending recession with fears that Russia…
Capital Inflows Were 23% Lower Due To Insecurity And The FX Crisis.
Capital importation into Nigeria reduced by 23% due to insecurity and the ongoing foreign exchange crisis. The total amount of…
Foreign-owned Operators Demand For Dollar Payments Is Putting Local Telecoms Players Out Of Business.
Smaller and domestic players are allegedly being prevented from expanding; because foreign telecoms companies insist on being paid in dollars…
Currency In Circulation Decreases To N3.24 trillion
Currency in circulation refers to the amount of cash–in the form of paper notes or coin within a country; that…
Oil And Gas Equities In Nigeria In August 2022.
For the ninth straight quarter, the oil industry has seen negative growth, shrinking once more in Q2 2022 by -11.8%…
Nigeria FG To Take Production Data From Oil Companies And Installs New Flow Meters.
Nigeria has wasted billions of dollars in potential revenue due to underreported volumes by relying solely on operator data; not…
Google Has Confirmed That It Will Provide $4 Million To 60 Startups In Africa.
Google revealed that it had chosen 60 qualified businesses from throughout Africa. They are to receive $4 million in funding…
In Q2 2022, Nigeria’s GDP Was Boosted By The ICT Industry By 18.44%.
The second quarter of 2022 saw an increase in Nigeria’s gross domestic product (GDP) growth from the first quarter; which…
Binance Teams Up With Nigerian Authorities to Launch A Digital Economy.
Binance, a major cryptocurrency exchange, is growing its influence in Africa by partnering with Nigerian officials; to create a digital…
Another nationwide strike is imminent in the power sector.
There are signs of a new strike approaching, after the recent country’s blackout was suspended. The government is allegedly unwilling…
Exxon and Shell Announce The Sale Of A Significant Dutch Gas Partnership.
Shell (SHEL.L) and Exxon Mobil (XOM. N) have listed one of Europe’s largest and oldest natural gas production projects for…
21.co, A Cryptocurrency Company, Raises $25 Million And Is Valued At $2 Billion.
The parent company of 21Shares and provider of cryptocurrency investment products, 21.co, announced that it had raised $25 million in…
Nigeria’s 1.826mb/d Output Has Been Approved By OPEC.
The Organization of Petroleum Exporting Countries has given Nigeria permission to produce 1.826 million barrels per day for the forthcoming…
USDC, USDP, And TUSD Will Be Delisted By Binance And Converted Into Its Own Stablecoin.
Binance stated that it would stop trading spot pairs like as USDC, USDP, and TUSD on September 29. It also…
Bitcoin Struggles To Remain Above $20,000 As Crypto Investor Loses $2 Million On OKex.
The narrowest range for Bitcoin trading since October 2020 occurred, with a range of just 5.4%. Nearly 40% of the…