Nigeria opens subscription for five-year domestic dollar bond at 9.75%
The Nigerian government is set to raise $500 million through a domestic dollar bond at a 9.75% annual yield. This…
Day: August 20, 2024
Equites Opens Week With N750bn Dip
The Nigerian equities market experienced a significant loss of N750 billion due to sell pressures on major stocks like Dangote…
European stocks dip lower as market uncertainty lingers; Sweden’s Riksbank cuts rates
European stocks declined on Tuesday afternoon, with the Stoxx 600 index down 0.29% as market uncertainty over future interest rate…
Nigeria-Germany trade volume hit $3bn in 2023 – Official
The Consulate-General of Germany in Lagos, Weert Borner, announced that trade between Nigeria and Germany reached $3 billion in 2023,…
FX turnover crashes by 21% in first two weeks of August amid CBN’s Retail Dutch Auction
The Nigerian official foreign exchange (FX) market saw a significant decline in turnover during the first two weeks of August…
CBN unveils new exchange rates for pound, euro as naira settles at N1,579.22/$1
The Central Bank of Nigeria (CBN) announced revised foreign exchange rates, showing slight declines in the naira’s value against major…
Why govt is still subsidising electricity, by Adelabu
Minister of Power, Chief Adebayo Adelabu, revealed that the Nigerian government heavily subsidizes electricity, as the cost to generate 1…
NNPC Pledges 221,000bpd To Repay $5.5bn Loans
The Nigerian National Petroleum Company (NNPC) Limited has pledged 221,000 barrels per day (bpd) of crude oil to fulfill its…
FG to commence naira crude oil sales to Dangote refinery October 1
The Nigerian Federal Government will begin selling crude oil to the Dangote Refinery in naira starting October 1, 2024, marking…
Amidst fuel crisis, NNPC Retail cedes total control to OVH
The ownership of NNPC Retail, the downstream arm of the Nigerian National Petroleum Company Limited (NNPC), has officially transferred to…