The Minister of State, Petroleum Resources, Chief Timipre Sylva, on Wednesday said the Federal Government will comply with the rules of the Organisation of Petroleum Exporting Countries (OPEC). “It is…
Continue Reading Nigeria to abide by OPEC’s rulesFEC Approves N10.07tn 2020 Budget Proposal, Increases VAT To 7.2%
The Minister of Finance, Mrs. Zainab Ahmed, Wednesday said the Federal Executive Council (FEC) has approved N10.07 trillion as the budget for 2020. The minister also said the council approved…
Continue Reading FEC Approves N10.07tn 2020 Budget Proposal, Increases VAT To 7.2%Central Bank Policy Has Left No ‘Safe Havens’ For Investors, Bond Expert Says
Government bond yields worldwide have endured historic lows of late, with interest rates on much of the world’s traditionally reliable sovereign debt either at or below zero. Oh suggested that…
Continue Reading Central Bank Policy Has Left No ‘Safe Havens’ For Investors, Bond Expert SaysBanks’ Credit To Economy Rises To N21trn
Banks’ credit to the domestic economy increased slightly by 0.6 per cent to N21.074 trillion at the end of June 2019, compared with the level at the end of the…
Continue Reading Banks’ Credit To Economy Rises To N21trnStop N305/Dollar Official Exchange Rate, LCCI Tells CBN
The Lagos Chamber of Commerce and Industry has advised the Central Bank of Nigeria to discontinue the official exchange rate of N305 to one United States dollar. It said that…
Continue Reading Stop N305/Dollar Official Exchange Rate, LCCI Tells CBNChinese Yuan Could Hit 7.3 Per Dollar By The End Of The Year, CLSA Says
KEY POINTS The Chinese yuan is set to weaken further against the dollar as trade tensions between the United States and China continue, according to CLSA Chief Economist Eric Fishwick.…
Continue Reading Chinese Yuan Could Hit 7.3 Per Dollar By The End Of The Year, CLSA SaysCentral Bank Of Nigeria Injects $210 Million Into Forex Market
According to him, the figures released by the apex bank indicated that authorized dealers in the wholesale segment of the market were offered $100 million while the small and medium…
Continue Reading Central Bank Of Nigeria Injects $210 Million Into Forex MarketRussia To Help Nigeria Revamp Ajaokuta Steel
The Federal Government has intensified efforts at ensuring that sections of the Ajaokuta Steel Company Limited start production before the end of 2019, Minister of Mines and Steel Development, Olamilekan…
Continue Reading Russia To Help Nigeria Revamp Ajaokuta SteelExpect Some Volatility’ In Oil Price As US Output Flows Back, IHS Markit’s Yergin Says
KEY POINTS Rising U.S. shale oil and lackluster demand will create volatility for oil markets, according to Dan Yergin, IHS Markit’s vice chairman. His comments come amid uncertainty for oil…
Continue Reading Expect Some Volatility’ In Oil Price As US Output Flows Back, IHS Markit’s Yergin SaysForex Intervention: CBN Injects $280.04m, CNY 28.3m Into Retail Market
He explained that the latest interventions in the inter-bank foreign exchange market were for requests in the agricultural and raw materials sectors as well as Renminbi-denominated Letters of Credit. He…
Continue Reading Forex Intervention: CBN Injects $280.04m, CNY 28.3m Into Retail MarketNigeria’s Forex Market Largely Untapped – MBA Boss
The Managing Director and Chief Executive Officer, MBA Forex and Capital Investment Limited, Mr Maxwell Odum, says Nigeria’s foreign exchange market is largely untapped. He also said if the potential…
Continue Reading Nigeria’s Forex Market Largely Untapped – MBA BossCBN: PMI Shows Growth In Manufacturing Sector
The Central Bank of Nigeria (CBN) report shows that Purchasing Managers Index (PMI) stood at 57.6 index points n July, indicating expansion in the manufacturing sector for the 28th consecutive…
Continue Reading CBN: PMI Shows Growth In Manufacturing SectorEdo Modular Refinery Begins Operation In Oct
Edo Refinery and Petrochemicals Limited, being developed by AIPCC Energy Limited at Ologbo, Ikpoba Okha Local Government Area of Edo State, will begin operation in October this year, it was…
Continue Reading Edo Modular Refinery Begins Operation In Oct