The InterContinental Exchange (ICE) on Monday launches its first set of derivatives linked to the West African crude oil market, aimed at an industry that has called for a strengthening of the dated Brent benchmark. Traders will be able to use the ICE platform from Sept. 17 to trade a derivatives contract linked to Nigeria’s […]
Nigeria’s fiery but unassuming Pastor; Reverend Sylvester Nmanwoke gave a bombshell over the weekend about the imminent dismemberment of America which will be heralded by the hounding of President Donald Trump out of office before the end of his first tenure, ushering in what he called “Kick-off Event orchestrated by Lucifer and his agents.” The […]
OPEC oil output has risen this month to a 2018 high as Libyan production recovered and Iraq’s southern exports hit a record, a Reuters survey found, although a cut in Iranian shipments due to U.S. sanctions limited the increase. The 15-member Organization of the Petroleum Exporting Countries has pumped 32.79 million barrels per day in […]
Crude oil futures moved up Thursday morning, as the market focused on the bullish news of a draw in US crude oil inventories reported by the Energy Information Administration (EIA) on Wednesday, while US domestic gasoline demand also provided some support, despite higher prices, analysts said. More globally, market participants continue to take a wait-and-see […]
The nation’s foreign exchange reserves have fallen by $990.98m this month, latest data from the Central Bank of Nigeria showed on Sunday. The external reserves, which stood at $47.11bn at the end of last month, declined to $46.128bn on August 23, 2018. The CBN noted that the evolution of the forex market in the country […]
The Nigerian Content Development and Monitoring Board (NCDMB), has commenced the disbursement of its $200 million Nigerian Content Intervention Fund (NCIF) at eight per cent interest rate to local oil and gas firms Thisday reports. Executive Secretary, NCDMB, Mr. Simbi Wabote disclosed this during a capacity building workshop for Energy and Business Correspondents, entitled, ‘NCDMB […]
A former governor of Anambra, Peter Obi, has said that the Nigerian economy is on life support due to the rising debt profile of about N22.7 trillion. Mr Obi, disclosed this at the ‘2018 This Generation Conference’ organised by the Summit Bible Church, with the theme: “Taking Responsibility, Making Nigeria Great,” on Saturday, in Abuja. […]
Nigeria’s central bank stepped up dollar sales this week after it auctioned the U.S. and Chinese currencies last week in a bid to alleviate shortages and ease pressure on the naira. On Friday the bank said it sold a total of $543.22 million on the interbank market and another 63.21 million yuan ($9.20 million) to […]
The National Identity Management Commission (NIMC) has introduced the transfer of e-ID Card to any NIMC Registration and Card Collection Centres of enrolee’s choice for collection. The Head, Corporate Communications, NIMC, Mr. Loveday Ogbonna, said the request could be made from any of the NIMC Registration and Card Collection Centres nationwide, other than where the […]
Nigeria is showing interest in Belarusian automotive equipment, Chief Operating Officer of Nigeria’s Dangote Industries Limited Olakunle Alake told the media during his visit to MAZ on 24 August, BelarusianTelegraph Agency has learned. “We have a great interest in Belarusian producers. We are interested in mining machinery, tractors, and MAZ vehicles. We have already visited […]