El-Rufai Attacks Govs Over Strike, NGF Mulls N380/Litre Fuel Price
THE Governor of Kaduna State, Nasir El-Rufai, has accused his fellow governors of abandoning his administration in its face-off with…
Category: Local
Oil Steady Near Three-Week Low With Iranian Crude Flows In Focus
Oil was steady near a three-week low in early Asia trading following a broader market slump as investors weighed the…
National Carrier: Ministry Prepares Memo, Plans 2022 Takeoff Date
The Minister of Aviation, Hadi Sirika, has assured Nigerians that the national airliner will swing into full operation by the…
MDAs Failed To Account For N1.2trn –FRC
The Fiscal Responsibility Commission has said ministries, departments and agencies of the Federal Government are withholding about N1.2trn. The commission…
Why Foreign Direct Investment In Property Sector Dries Out
FDI into UAE climbs over 44% against UN estimates • ICPC: Over 800 properties worth $400m linked to PEPs •…
NASS Approves N74 Billion Budget For Police Trust Fund
The N74 billion budget captures all the demands of the fund which include training and retraining of personnel of the…
Nigeria Lost U.S.$3.5 Billion To Ports Concession, U.S.$90.5 Million To Airports Deals – House
The House of Representatives yesterday said the country lost over $3.5 billion from the concession of 26 ports in Nigeria,…
Naira Gains On I&E Window
The local currency, naira strengthened against dollar on the Investors & Exporters’ (I&E) window, yesterday, closing at N410.75/$1 compared with…
Onne Multipurpose Terminal Opens For Operations
The Onne Multipurpose Terminal has opened its doors for operations. It commenced container operations at Onne Port, in Port-Harcourt thereby…
Nigeria Governors Okay Full Deregulation Of Petrol, Over 100% Price Hike To N385
Ahead of Thursday’s Federation Accounts Allocations Committee (FAAC) meeting, the Nigeria Governors’ Forum (NGF) on Wednesday at its virtual meeting…
Navy Blames NNPC Over Theft Of 200,000 Barrels Of Crude Oil
The Nigerian Navy yesterday exonerated itself from the loss of 200,000 barrels of crude oil to pipeline vandalisation and illegal…
Nigeria Cocoa Hurt By Currency Depreciation, Chemical Costs, Officials And Farmers Say
IBADAN, Nigeria–The output and quality of Nigeria’s 2020-21 cocoa crop are likely to suffer as increased chemical prices and a…
Nigeria’s Naira Firms 8% After Hitting Record Low On Official Market
The Nigerian currency, the naira, briefly firmed 8% on Wednesday to 394 to the dollar on the official market after…
Hedging Against Inflation
Goddy Egene writes that as inflation rate remains above 18 per cent, the stock market still provides investors opportunity to…
Pension Assets Rise To N12.34 Trillion In March
Nigeria’s total pension fund assets appreciated by N100 billion in March to rally at N12.34 trillion as against the N12.24…
Investors Shun Naira Debt Over Inflation Concerns
Elevated inflation and dwindling liquidity concerns are keeping investors away from Nigeria’s localcurrency debt, Bloomberg reported yesterday. According to the…
INTERVENTION FUNDS: Emefiele Tackles Critics Over Regional Spread
THE Governor, Central Bank of Nigeria (CBN), Godwin Emefiele, has faulted claims that the bank’s targeted interventions in the agricultural…
Clearing Agents Seek Better Ports
National President, Association of Nigeria Licensed Customs Agents (ANLCA), Tony Iju, has felicitated with Muslims on the occasion of the…
Buhari Hails Emergence Of New Era At Nigerian Capital Market
President Muhammadu Buhari has lauded the historic roles of the Nigerian capital market in national development and the successful transition…
Nigeria Eyes $3b From Eurobond’s Sale
Nigeria plans to issue $3 billion or more in Eurobonds as international capital markets (ICM) open up and interest rates…
EM’s Worst Bond Rout Far From Over As Nigeria Fights Inflation
The emerging world’s worst bond rout isn’t over yet as elevated inflation and dwindling liquidity concerns keep investors wary of…
Shell Green Plans Under Scrutiny As Holders Seek More Action
Royal Dutch Shell Plc has been under increasing pressure from investors to slash emissions and pivot toward cleaner energy, and the…
Fall In Nigeria’s Remittances Drag SSA Total Remittances In 2020
A World Bank report states that diaspora remittances to Sub-Saharan Africa (SSA) declined by 12.5% to US$42bn in 2020. The…
Immigration Suspends Issuance Of New Passports, Renewals Till June
The Nigeria Immigration Service has announced the nationwide suspension of issuance of new passports and renewal of old ones in…
Finally, £4.2m ‘Ibori Loot’ Returns To Nigeria, FG Confirms Receipt
The Federal Government, on Tuesday, confirmed the receipt of the sum of £4,214,017.66 of the loot associated with the family…
Nigeria’s Buhari Asks Parliament To Approve $6.18 Bln Of New External Borrowing
Nigeria’s President Muhammadu Buhari requested on Tuesday parliamentary approval for new external borrowing of $6.18 billion. Nigeria will seek to…
Exchange Rate Policy Ambiguities, Forex Scarcity Worsen Business Environment
The recent move by the Central Bank of Nigeria to erase the N379 official exchange rate from its website has…
Brent Oil Climbs To $70 A Barrel As Reopenings Boost Demand
Brent crude topped $70 a barrel in London for the first time since mid-March amid signs that recovering consumption has…
Shipping Gathers Together To Fight Piracy Off Nigeria
Around 100 maritime companies have signed the Gulf of Guinea Declaration on Suppression of Piracy, which was launched yesterday, as…
Nigerian Stocks Halt Gains As Sell Pressure Weighs On Big-Cap Shares
Nigerian equities were down by 0.44 per cent on Monday, shedding value for the first time in 10 days in…