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 […]
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 […]
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 […]
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 […]
Futures slid as much as 1.9 percent on Monday in New York. U.S. stocks declined as China imposed retaliatory tariffs on U.S. goods, the latest move in an escalating trade dispute between the world’s largest economies. At the same time, supply concerns that prompted hedge funds to increase bullish bets on the benchmark U.S. crude […]
Nigeria’s foreign exchange reserves stood at $46.2 billion as of March 28, up 8.8 percent from a month earlier, central bank data showed on Saturday. Successful debt sales, including a eurobond offering last month, have helped the government accrue billions of dollars in foreign reserves, although they remain far from the peak of $64 billion […]
Neconde Energy Limited said it had no under hand dealing with a former Vice-President of Shell in Nigeria, Mr Peter Robinson, in the purchase of Oil Mining Lease (OML) 42, The Sun reports. Neconde, is an indigenous oil and gas company, operating OML 42 in partnership with the Nigerian Petroleum Development Company of Nigeria (NPDC), […]
Unity Bank Plc, a Nigerian lender, denied entering a binding agreement with private-equity firm Milost Global Inc. over a potential $1 billion investment, saying talks were only preliminary and didn’t come with any commitments. New York-based Milost this week said it terminated talks to provide debt and equity funding to Unity, saying it received threats […]
Nigeria earned 557.9 billion naira ($1.77 billion) in gross revenues in February, up from 538.9 billion naira the previous month due to higher crude exports and prices, the accountant general said on Thursday.The state distributed 647.4 billion naira to its three arms of government for running its operations. A day earlier Nigeria’s finance minister called […]
-As Finance Minister summons NNPC GmD The inconclusive Federation Account Allocation Committee (FAAC) meeting has forced finance minister Kemi Adeosun to liaise with the NNPC over discrepancies in payment into the Federation Account. This is coming after FAAC noticed discrepancies of about N37.76 billion in revenue presented by the NNPC. Adeosun, who is also the […]