The Chief Executive Officer of Nigerian Stock Exchange (NSE), Mr. Oscar Onyema, yesterday said foreign investors pulled out N605.54 billion from the Nigerian equities market in 2018 because of a shift to higher yielding assets with lower risks in developed countries, coupled with the perceived political risks in the forthcoming general elections. The stock market […]
Oil prices fell about 1 percent on Monday, pressured by data showing weakening imports and exports in China that raised new worries about a global economic slowdown hurting crude demand. Brent crude (LCOc1) futures fell 61 cents to $59.87 a barrel by 12:54 p.m. EST (1754 GMT), trading as low as $59.27 intraday. U.S. West […]
Eleven companies have indicated interest to operate the troubled Ajaokuta Steel Company but the federal government was not yet ready to hand over the facilities. Alhaji Abubakar Bwari, the Minister of State, Mines and Steel Development, announced while giving a three-year account of his stewardship (2016-2018) in Abuja. According to him, the Federal Government is […]
The Central Bank of Nigeria (CBN), in the next three months, is expected to remove not less than N162.49 billion from the country’s domestic debt profile, put at N12.29 trillion as at September 30, 2018. The move, coming amid revenue shortages and plans to raise more than N800 billion in the same domestic market for […]
The Nigerian Stock Exchange on Monday said the Federal Government raised N1.16trn from the nation’s bourse in 2018 to finance fiscal and infrastructure deficits. NSE Chief Executive Officer, Mr. Oscar Onyema, disclosed this at NSE’s 2018 market recap/2019 outlook in Lagos. Onyema said the funds were raised through various bonds such as Green Bonds, Sukuk […]
Crude oil futures moved marginally lower during mid-morning trade in Asia Monday continuing its downtrend seen from Friday’s trading session amid the latest comments from Saudi Arabia while waiting for fresh price cues from US inventory data. At 10:30 am Singapore time (0230 GMT), ICE March Brent crude futures were down 25 cents/b (0.41%) from […]
The Nigerian Petroleum Development Company is making efforts to raise $3.15bn through third party financing to develop the country’s oil and gas reserves from Oil Mining Lease 13, Okechukwu Nnodim reports The flagship subsidiary of the Nigerian National Petroleum Corporation, the Nigerian Petroleum Development Company, is interfacing with third-party financiers to raise $3.15bn (N967.1bn at […]
Four non-governmental organisations have petitioned The Netherlands government over their case against Royal Dutch Shell Plc (RDS) acquisition of the OPL 245 oil and gas field in Nigeria. The groups, Human and Environmental Development Agenda (HEDA), Global Witness, Re:Common, and The Corner House, noted that RDS “is currently on trial in Milan in relation to […]
Bonds auction results in the past few months for both the Federal Government Bonds and the Savings Bonds shows that the level of patronage has declined. Data obtained from the website of the Debt Management Office (DMO) on Sunday in Abuja, showed that in 2017, the Federal Government bonds had N2.37 trillion subscriptions with 1.49 […]
As it prepares to roll out in 2019, Dangote Oil Refining Company (DORC), has taken delivery of one of the major components of its refinery equipment, the regenerator for the Residual Fluid Catalytic Cracker (RFCC). Mr Rama Putta, the Head of Quality Assurance/Quality Compliance and Construction, DORC, stated this on Sunday in Lagos. The Fluid […]