NNPC Says Global Gas Crisis May Push Oil Prices $10 Higher In Three Months
The Nigerian National Petroleum Corporation (NNPC) on Wednesday said the global natural gas crisis, which has resulted in rising prices, could push up oil prices by as much as $10 a barrel over the next three to six months. Wholesale gas prices have surged by 250 per cent since the beginning of the year, including […]
Five Top Banks Pay N1.4bn For Forex Infractions To Monetary Regulatory Bodies
Five top banks in Nigeria paid an aggregate of N1.4bn as penalties to monetary administrative bodies like the Central Bank of Nigeria, Security Exchange Council, and Financial Reporting Council of Nigeria, in the principal half of the year. The banks are the United Bank of Africa, Fidelity Bank, Access Bank, Guarantee Trust Bank, and First […]
Nigeria Returns To International Capital Market For $6.2bn Eurobonds
Three years after it issued a debt instrument in the International Capital Market (ICM) with a $2.5 billion aggregate Eurobonds under its Global Medium Term Note Programme, Nigeria has announced plans for another visit to the global market. On offer this time is the issuance of N2.343 trillion ($6.2 billion) Eurobonds to part-finance the N5.2 […]
Nigeria Loses N217.79bn Since Twitter Ban
The Twitter ban in Nigeria has reached out to 100 days, and in that period, the country has lost N217.79bn The Federal Government had on June 4 suspended Twitter after the social-based media platform erased a tweet by the President, Major-General Muhammadu Buhari (retd.). Therefore, telcos on June 5 hindered admittance to Twitter in the […]
Global Financial Crisis Looms As US Risks Defaulting On National Debt
The global financial market may be heading towards an imminent crisis, as the United States is currently facing the risk of defaulting on its national debt in October. The US Secretary of the Treasury, Janet Yellen, gave the hint on Wednesday while warning congressional leaders that the country was on track to default on the […]
Kaduna Traders Defy Government Order, Resume Kawo Weekly Market
Traders in Kaduna have resumed trading activity on Tuesday at the Kawo market thereby defying the state government order on suspending weekly markets in the state. The government last week announced an indefinite suspension of trading at weekly markets, including the popular Kawo market in the state capital. The state Commissioner for Internal security, Samuel […]
Oil, Power Companies’ Bank Deficits Increases To N6.14tn
The deficits owed to Nigerian banks by oil and gas operators as well as power companies have risen above N6tn, the recent data obtained from the Central Bank of Nigeria have shown. The energy firms increased their bank debts to N6.14tn as of June 2021 from N5.94tn at the end of 2020. The N6.14tn represents […]
Air Peace Named Official Carrier Of Nigeria’s Super Eagles In $3m Deal
Nigeria’s Football Federation (NFF) has signed a four-year deal with Air Peace as the official carrier of the country’s national teams whenever they are on national assignments. The sponsorship deal is worth N300 million that will initially run for one year and is renewable for another three years by both parties, potentially rising to N1.2bn […]
Driven By Demand In US And China, Pernod Ricard’s Annual Profit Beats Expectations
French spirits maker Pernod Ricard posted a stronger-than-expected 18.3% organic rise in full-year 2020/21 operating profit, driven by a strong rebound in demand in China and the United States with the removal of COVID-19 curbs and by tight cost control. This was higher than the company’s guidance for a profit rise of as much as […]
Nigeria At $432bn Still Africa’s Biggest Economy Despite South Africa’s Rebased GDP Of $370bn
Nigeria has maintained her position as Africa’s biggest economy after South Africa released the report of its rebased Gross Domestic Product (GDP) that pushed the latter’s economy up by 11 per cent, an analysis of a new report by Statistics South Africa (SSA), has revealed. After a comprehensive overhaul of its national accounts up to […]
