Equity market extends loss by N65bn
The Nigerian equity market continued its downward trend on Thursday, with a loss of N65 billion as the All Share…
Category: Trade
U.S. to Partner with Nigeria on Chemical Weapons Convention for ECOWAS
The U.S. government has announced plans to collaborate closely with Nigeria to lead discussions on implementing the Chemical Weapons Convention…
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…
Nigeria, Equatorial Guinea sign gas pipeline agreement
On Wednesday in Malabo, Nigeria’s President Bola Tinubu and Equatorial Guinea’s President Teodoro Mbasogo signed an agreement for the Gulf…
PTML Becomes Major Transshipment Hub to Europe, Receives First RoRo Ship from China
PTML Nigeria, the largest Ro/Ro multipurpose port terminal in West Africa, has achieved a significant milestone by establishing itself as…
NGX’s Boss Backs FCMB’s N110.9bn Capital Raise
Temi Popoola, Group CEO of the Nigerian Exchange Group (NGX), has commended FCMB Group for its successful capital raise of…
US tops China as Germany’s biggest trading partner
In the first half of 2024, the United States became Germany’s largest trading partner, surpassing China. Trade between Germany and…
NGX slumps as global tensions trim N371bn from investors’ wealth
The Nigerian Exchange Limited (NGX) continued its slide on Tuesday, with the All-Share Index dropping by 0.67% to close at…
BUA Cement’s pre-tax profit drops by 54% in Q1
BUA Cement’s second-quarter results for 2024 show a significant decline in pre-tax profit, falling by 54% year-over-year to N18.8 billion…
UK’s gain, Nigeria’s pain as nurses migration hits 9-years high
Nigerian-trained nurses are increasingly passing their professional exams in Nigeria but submitting their results abroad, particularly in the UK. A…
Nigerians risk layoff as top UK aid supplier faces collapse
Crown Agents, a long-established UK development contractor, is facing collapse due to severe financial issues. Staff pay for July has…
Morocco, SA, Egypt dwarf Nigeria’s $210m auto industry
Nigeria’s $210 million automotive industry lags behind peers such as Morocco, South Africa, and Egypt due to low demand for…
Honeywell, Seplat drag equity market to N188bn loss
Investors on the Nigerian Exchange Limited faced losses totaling N188 billion on Thursday, primarily driven by declines in the share…
FG, IOCs agree on crude supply to Dangote, local refineries
The Nigerian government and local crude oil producers have pledged to maintain a sustainable supply of crude to domestic refineries…
Nigerian Equity Market Declines for Third Day, Investors Lose N2.18bn
The Nigerian equity market extended its losing streak for the third consecutive day this week, with investors losing N2.18 billion…
Bitcoin drops by 3% as 100,565 traders lose $262 million
In the early morning trading session, Bitcoin faced a 3% decline in its price before recovering to trade around $58.8K…
Okomu Oil, Presco post 94% growth in profits in Q1’2024 amid rising inflation
The combined profit of Presco Plc and Okomu Oil Palm Company Plc soared by 94.32% in the first quarter of…
Nigeria’s trade with UK crashes by 25% in Q1 2024 on lower exports
Nigeria’s total trade with the United Kingdom declined by 25% in the first quarter of 2024, despite higher values from…
China’s exports rise solidly, but slower imports temper outlook
China’s exports grew for a second consecutive month in May, offering a glimmer of hope for the country’s economic recovery.…
FCMB Secures $15m Trade Finance Facility with ITFC
First City Monument Bank (FCMB) has entered into a $15 million Master Murabaha Agreement with the International Islamic Trade Finance…
FG to Mandate Oil Sales to Dangote Refinery
Nigeria’s oil regulator, NUPRC, is stepping in to ensure international oil companies (IOCs) supply crude oil to the newly built…
Nigeria loses N149bn to one-day oil workers strike
Nigeria’s oil production was significantly disrupted due to a nationwide strike by oil workers protesting the government’s minimum wage proposal.…
Trading continues on NGX amid strike, investors lose N103bn
The Nigerian Stock Exchange (NGX) opened the week on a down note, with investors losing N103 billion. Sell-offs in major…
Asia’s Oil Imports Surge in May, Driven by India
Asia’s crude oil imports reached a 12-month high in May, fueled by a massive increase in demand from India. The…
Nigeria Overtakes South Africa as Indonesia’s Top African Investment Destination
Nigeria has become Indonesia’s top investment destination in Africa, surpassing South Africa, with a trade balance exceeding $4.7 billion in…
Netherlands Overtakes India as Nigeria’s Second-Largest Trade Partner in 2023
The Netherlands has surpassed India to become Nigeria’s second-largest trade partner in 2023, according to the National Bureau of Statistics…
Nigeria to Navigate Economic Rivalry between US, China, and Russia, says Foreign Minister
Nigeria’s Foreign Minister, Yusuf Maitama Tuggar, highlighted Nigeria’s stance on managing economic competition between global powers like the United States,…
935 BDC Operators Get CBN’s Forex In NorthWest
The Central Bank of Nigeria (CBN) has provided foreign exchange (forex) to 935 eligible Bureau De Change (BDC) operators in…
Capital Market Declines by 1.36%
The Nigerian capital market experienced a 1.36% decline last week, attributed to losses by key equities including PZ Cussons, McNichols,…
UK-Nigeria Bilateral Trade Reaches £7 Billion
Richard Montgomery, the British High Commissioner to Nigeria, has disclosed that bilateral trade between Nigeria and the UK has surged…