The downward trajectory of distillate crack spreads in Europe since mid-November is starting to put pressure on Nigerian crude oil grades Forcados and Bonga, traders said. With the Nigerian January export loading programs for Forcados, Bonga and Erha quite large, sources said a slowdown in demand for distillate-rich grades will make it difficult for crude […]
The spread of polio must still be classified as a public health emergency because, while progress been made towards wiping out the disease, that progress is fragile, the World Health Organization said on Friday. “We are so close to the elimination of polio, but we have to use all of our international tools to achieve […]
The Nigerian central bank plans to boost its dollar sales to exchange bureaus after the currency weakened sharply on the black market. On Thursday, the naira weakened by 1 percent on the black market to 370 per dollar, its weakest since August 2017. The Central Bank of Nigeria (CBN) said on Friday it would introduce […]
By Foster Obi Management of the Nigerian Ports Authority (NPA) has appointed Engineer JattoAdeiza Adams as its chief spokesman. A press statement signed by Isah Suwaid Asst. General Manager Corporate & Strategic Communications said this has become necessary to further reinvigorate the Authority’s operations and reengineer the process of dissemination of information towards an efficient […]
Federal Government has announced that it has disengaged from the membership of over 90 organisations that are not relevant to the economic policy of the President Muhammadu Buhari administration. Speaking at a workshop organised by the African Trade Insurance (ATI) agency in Abuja, the Minister of Finance, Ms Zainab Ahmed, said the government came to […]
To improve domestic consumption of gas, Nigeria will consume two million metric tons of Liquefied Petroleum Gas (LPG) by 2025, Matric Energy Limited’s Chief Marketing Manager, Mrs. Toyin Sowumi, has said. She said the development became imperative to enable Nigeria equal other countries, where LPG’s use is recognised as a healthy source of cooking. According […]
Given the challenging economic backdrop, the report suggests that certain key policy reforms would be important to support macroeconomic resilience for Nigeria. The World Bank has said that Nigeria’s Gross Domestic Product (GDP) growth is expected to hover slightly below two per cent in 2018, largely driven by non-oil industry and services. Its “Economic Update” […]
Oil prices fell in the European morning trading session Thursday, following a US crude stock build and amid potentially bearish comments from Russia. At 1142 GMT January ICE Brent crude futures were down 70 cents from Wednesday’s settle at $58.06/b while the January NYMEX light sweet contract was 44 cents lower at $49.85. Commercial crude […]
Nigeria is now placed fourth in Africa and retains its 44th spot in the world with 1427 points as against October’s 1431 points in the FIFA/Coca Cola Rankings on released on Thursday. Tunisia that led the continent’s teams in the last rankings dropped to second place behind Senegal, with the North African side dropping four […]
