Nigeria Risks Losing $34bn In Annual Export Earnings – Report
A new study by Standard Chartered has said Nigeria risks losing $34.3bn in annual export earnings if it does not…
Category: Business
New £50 Note Enters Circulation: Why Alan Turing Is On It And When Do Old Banknotes Expire?
The new £50 note featuring mathematician, code-breaker and computer scientist Alan Turing has launched today – the final bank note…
Big Oil CEOs Join Traders, Banks In Predicting Higher Oil Prices
The bosses of some of the world’s biggest oil companies said crude prices are likely to keep rising because a…
Nigeria Faces Import Crisis As Reserves Hit 13-Month Low
Nigeria’s economy could be leaning against the wind as the country’s external reserves fell to a 13-month low last week,…
Oil Loses Steam With Traders Eyeing OPEC+ Supply Hike
Oil declined as investors assessed reports that Russia and other OPEC+ nations are considering increasing production. Futures in New York…
Highlights From World Bank’s Development Update On Nigeria
According to the World Bank’s recently published development update on Nigeria titled “Resilience through Reforms“, a number of factors led…
Nigeria Earned $34 Billion From Gas, Oil In 2019 – NEITI
Nigeria realised $34.22 billion from the oil and gas sector in 2019, the Nigeria Extractive Industries Transparency Initiative (NEITI) has disclosed in…
U.S. Dollar Faces Volatile Week As Fed Policy Makers Line Up To Speak
The dollar faces a week of volatile trade as a slew of Federal Reserve speakers and U.S. inflation data test…
An Oil Market Guide To What’s Next In Iran’s Nuclear Talks
Iran is set to usher in a new government headed by Ebrahim Raisi, an ultraconservative cleric wary of engaging with…
Emirates Suspends Nigeria Passenger Flights Until Further Notice
Dubai’s flagship carrier Emirates has announced a suspension of flights to and from Nigeria from June 21, 2021. “In line…
China’s PBOC Orders Alipay, Banks Not To Assist Crypto Business
China said Monday it had ordered domestic banks and Ant Group Co. payment platform Alipay not to provide services linked…
Lubricants Import Hits $500m, Hikes Maintenance Cost By 300%
Lack of refining capacity in Nigeria for basic fuels and other petroleum products has left the nation dependent on the…
Nigeria Loses $2.2b From Untapped Non-Oil Exports
The total untapped export potential for Nigeria’s non-oil exports stands at $2.2 billion, according to International Trade Centre (ITC) Export…
Nigeria May Earn N462bn From EMT Levy In 2021 – World Bank
The World Bank has said Nigeria is likely to make N462bn the electronic money transfer levy as a source of…
CBN Digital Currency’ll Deepen Financial Inclusion, Says FDC
Analysts at Financial Derivatives Company Limited, led by financial expert Bismarck Rewane, have said the planned introduction of a digital…
Average Airfare Increases By 18.90% In May – NBS
The National Bureau of Statistics (NBS) has said the average fare that air passengers paid for specified route single journey…
Remittances To The Rescue
A period of crisis like the COVID-19 pandemic is not the best time for countries to expect diaspora remittances. Although…
Should Rising Oil Prices Be A Problem For Nigeria?
Energy Recently, the GMD, Nigerian National Petroleum Corporation, Mallam Mele Kyari, asked Nigeria not to rejoice at the rising prices…
Bitcoin Tumbles 10% In Wake Of Deepening China Crackdown
Bitcoin tumbled almost 10% on Monday as recent volatility in the cryptocurrency market showed no signs of dampening down, with…
Naira Losing Strength As Ex-CBN Director Faults New FX Measures
The naira is losing its resistance against the dollar a few days after it gained some margin at the parallel…
Emerging-Market Bulls Pin Currency Hopes On Hawks Outpacing Fed
Emerging-market currencies hit by a hawkish Federal Reserve could soon regain their record run against the dollar on expectations that…
West African Regional Bloc Adopts New Plan To Launch Single Currency In 2027
A group of fifteen West African countries have adopted a new road map to launch a single currency in 2027…
Bank Of Canada To Break Sequence Of Lower Terminal Rates As Governments Splurge
With fiscal spending booming and households flush with cash, investors are betting that the Bank of Canada’s next tightening cycle,…
Nigeria’s Oil Industry Is Struggling To Win Back Investors
Long overdue government legislation must come into place in Nigeria if the country hopes to reform its oil industry to…
Proposed Introduction Of Digital Currency Excites Nigerians
The undoubted groundswell of support for the introduction of digital currency by the Central Bank of Nigeria (CBN) after many…
Govt Removes Evans PLC, 3 Others From Stock Listing
The board of the Nigerian Stock Exchange, NGX, on Monday, announced the removal of Evans Medical Plc, Nigerian-German Chemicals Plc,…
Cracking Nigeria’s Oil Subsidy Nut
Nigeria’s oil subsidy programme has unwittingly become a drag on the economy. When the price of the commodity rises on…
UK Inflation Jumps To 2.1% As Petrol And Clothing Prices Rise
UK inflation jumped to 2.1% in May, breaching the Bank of England’s target for the first time in two years…
Buhari Flags Off NLNG Train 7, Targets $10bn Investments
President Muhammadu Buhari has flagged off the Train 7 project of the Nigerian Liquefied Natural Gas (NLNG) which is expected…
Telcos Kick As Govt Mulls Excise Tax On Airtime
The federal government has unveiled a fresh plan to introduce excise duty on telecoms’ airtime charges. A report yesterday by…