According to data from the Central Bank of Nigeria (CBN), Nigeria’s foreign exchange reserves gained 8.8 per cent as of March 28, to $46.2 billion compared to same period in February 2018, The Nation reports. The reserve is still far from the peak of $64 billion recorded in August 2008. Debt sales such as Eurobond […]
A study commissioned by the Nigerian Natural Resource Charter (NNRC) and conducted by the Centre for Petroleum, Energy Economics and Law (CPEEL), University of Ibadan on the contributions of the four refineries owned and operated by the Nigerian National Petroleum Corporation (NNPC) to Nigeria’s Gross Domestic Product (GDP) has showed that their average contribution was […]
British Airways launched two new routes from London on 27 March, beginning services from Gatwick (LGW) to Las Vegas (LAS) and from Heathrow (LHR) to Almeria (LEI). The first flight from Gatwick to Las Vegas marks a return to a sector that the airline last operated in S16. BA will serve the 8,430-kilometre transatlantic route […]
With the change of months has come something of a change of fortunes in ags. While one of the biggest losers of March, hard winter wheat, soared on Tuesday, last month’s best-performer, cocoa, tanked as talk of much-needed rains in West Africa spurred funds to take gains which Societe Generale cautioned was “extreme overbought” and […]
Spot activity was slow on Tuesday because of a number of tenders, while high stocks building up in major buyer China and seasonal refinery maintenance depressed demand. * Traders were still waiting for Nigeria’s state firm NNPC to issue its annual crude contract list, which was expected to emerge this week. * Angola’s state oil […]
The Nigerian central bank’s monetary policy committee will finally meet on Wednesday to set interest rates for the first time this year. Interest rates have been stuck at a record high of 14 percent since July 2016. However, the committee had to cancel its January meeting due to an inability to form a quorum following […]
Output from the 14 members of Organization of Petroleum Exporting Countries fell by 170,000 barrels to 32.04 million barrels a day in March, according to a Bloomberg News survey of analysts, oil companies and ship-tracking data. That’s the lowest since last April’s 31.9 million barrels a day. Back then, Equatorial Guinea — which pumped 130,000 […]
An economist, Prof. Sheriffdeen Tella, on Monday advised Nigerians not to expect much from the nation’s economy in the second quarter following continue delayed in the passage of 2018 budget. Tella, a Professor of Economics from Olabisi Onabanjo University (OOU), Ago-Iwoye in Ogun, spoke in an interview with the News Agency of Nigeria (NAN) in […]
EU official has called for action against internet companies that harvest personal data, as Brussels prepares to move against those spreading “fake news” following the Cambridge Analytica revelations. Sir Julian King, the European commissioner for security, wants “a clear game plan” on how social media companies are allowed to operate during political campaigns to be […]
-As Israeli Prime Minister Benjamin Netanyahu orders withdrawal from UN Agency Israel announced Monday it had reached a deal with the UN refugee agency to cancel a controversial plan to deport African migrants and replace it with a new one that will see thousands sent to Western countries. A minimum of 16,250 migrants will be […]