By Foster Obi CMA CGM SA, French container transportation and shipping company and leading worldwide shipping group said it has signed a memorandum of agreement with Lekki Port LFTZ Enterprises to operate future container Terminal at Nigeria’s Lekki Port. A report by Reuters shows that CMA CGM Terminals Unit will operate the Terminal when Lekki […]
By Foster Obi Minister of Finance, Kemi Adeosun on Friday appointed Ms Mary Uduk, as the new Director -General, the Securities and Exchange Commission (SEC) following the redeployment of Dr Abdul Zubair, who had been on the saddle since December last year. Special Adviser, Media & Communications to the Minister of Finance, Oluyinka Akintunde, said […]
The Group Executive Director, Finance and Account of the Nigerian National Petroleum Corporation (NNPC), Mr Isiaka Abdulrazak said the corporation recorded a trading surplus of N250 billion in 2016. Abdulrazak said this in a quarterly publication of the NNPC, a copy of which was obtained by the News Agency of Nigeria (NAN) on Tuesday in […]
The International Energy Agency said on Friday that the international oil market could become too tight if supply remains restrained by OPEC and its allies as global oil stocks have diminished. The IEA, which coordinates the energy policies of industrialised nations, said stocks in developed countries, could fall to their five-year average – a metric […]
Nigerian inflation slowed for a 14th straight month in March, taking consumer-price growth below the benchmark interest rate for the first time in two years and opening the door for a rate cut. Consumer inflation in Africa’s most-populous nation decelerated to 13.3 percent from a year earlier, the lowest rate in two years and below […]
Shares in Nigerian oil company Oando surged 10 percent on resuming trade in Lagos on Thursday after the regulator lifted a suspension. Oando shares jumped to 6.60 naira immediately after the stock market opened after closing at 6.30 naira on Wednesday. The shares traded only briefly on Wednesday after being suspended for six months on […]
Annual inflation in Nigeria stood at 13.34 percent in March, its lowest level in two years and its 14th straight drop in as many months, the National Bureau of Statistics said on Thursday. It dipped from 14.33 percent in February. A separate food price index showed inflation was trimmed to 16.08 percent in March, from […]
Crude oil prices rose more than two percent on Wednesday, climbing to the highest point since December 2014. The threat of a conflict between the US and Syria helped push prices higher despite EIA oil inventories increasing by the most since early March. Meanwhile, gold prices also rallied. However, some of the gains in the […]
Oil currencies have been hammered since crude prices crashed almost four years ago, and none more so than Angola’s. After a series of devaluations that started in January, the OPEC member’s kwanza has now lost 55 percent of its value against the dollar since June 2014, when Brent crude began its slide from a peak […]