Trading was stifled by the pending IOC tender and the May loading programmes, which are expected later this week. NIGERIA * Differentials for nearly all of Nigeria’s April-loading cargoes were under downward pressure due to an excess, traders said. * One company offered Forcados at a $2.15 a barrel premium to dated Brent, compared with […]
Nigeria’s anti-trafficking agency, NAPTIP, has welcomed an order by a leading traditional ruler revoking a voodoo ritual, saying it should sharply reduce the number of people being trafficked to Europe and improve the chances of prosecuting traffickers. That followed a ceremony on Friday in which Oba Ewuare II, the leader of the historic kingdom of […]
MTN Group Ltd. could cash in from an initial public offering of Africa’s largest telecommunication towers company by selling a stake valued by the wireless carrier at about 27 billion rand ($2.3 billion). IHS Towers, of which Johannesburg-based MTN owns about 29 percent, is planning an IPO in New York, people familiar with the matter […]
The external reserves of Nigeria have grown, hitting a record high of $46 billion, the Central Bank of Nigeria (CBN), said on Sunday. The Acting Director, Corporate Communication, CBN, Mr Isaac Okoroafor, said that the reserves grew by about $3.2 billion between February and March 2018. He said that the reserves at the beginning of […]
Nigeria’s President Muhammadu Buhari has approved an increase in excise duties on tobacco and alcoholic beverages, the finance ministry said in a statement on Sunday. The West African country, which has Africa’s biggest economy, fell into recession in 2016 largely due to low oil prices. It emerged from recession last year, mainly as a result […]
The United States is slated to become the world’s largest oil producer by the year 2023, according to the International Energy Association- IEA. The rising demand for oil, said IEA Executive Director Fatih Birol, has “unleashed a wave of growth from the U.S.” American crude production is expected to reach a record of 12.1 million […]
A female aviation security officer has foiled attempt by two Mozambique citizens to smuggle over 7.2 kilograms of methaphitamine and ephedrine out of the country through the Murtala Mohammed International Airport, Lagos. The AVSEC officer, Olupeju Oluwaseun detected the bag containing the illicit drugs with tag number SA2312119 at the baggage hall on Wednesday. This […]
By Foster Obi Following relentless desire to flee economic hardship and unemployment, most Nigerian youths trying to escape to Libya and Italy has been severally intercepted, maltreated and forcefully deported. This has not however deterred this army of youths in a tireless desire to break away from privation. On Saturday, the Libya’s coastguard and an […]
British Airways will be introducing a new uniform in 2019 to celebrate its 100th anniversary, it has been revealed. However, the design details are not yet known. Celebrating its 100th birthday in August 2019, British Airways are set to redesign their iconic uniform for its entire customer-facing staff, it has been revealed. The British flag […]