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A global credit ratings agency, Fitch Ratings, has said Nigeria’s compliance with the oil production cut deal led by the Organisation of Petroleum Exporting Countries will lead to deeper economic contraction and fiscal deficits.
Royal Dutch Shell on Thursday cut its dividend for the first time since the 1940s after a first-quarter loss – and warned virus-ravaged oil prices will take time to fully recover.
Following the crash in global oil prices occasioned by the coronavirus pandemic, indigenous Petroleum Explorationists have called for urgent intervention of the Central Bank of Nigeria, CBN, as they would be unable to meet their financial exposure to commercial banks at the current oil prices.
The bank leveraged on modest growth in both interest and non-interest income as well as increased efficiency to deliver an impressive 8.5 percent year-on-year growth in profit before tax in the first three months of 2020, to N32.7 billion compared with N30.2 billion recorded in the first quarter of 2019.
The International Monetary Fund, IMF, on Monday approved the disbursement of US$1 billion to be drawn under the Rapid Credit Facility (RCF).
South Africa came under a nationwide military-patrolled lockdown on Friday, joining other African countries imposing strict curfews and shutdowns in an attempt to halt the spread of the coronavirus across the continent.
The Central Bank of Nigeria (CBN) said Friday’s decision to peg the exchange rate of the Naira at N380 to the dollar is not a devaluation of the Nigerian currency.
The founder, Investment Banking and Trust Company (IBTC), Mr. Atedo Peterside, has identified macroeconomic stability, especially low inflation rate regime as a major panacea to attracting all types of investors into the Nigeria’s capital market.
The Nigerian Stock Exchange (NSE) has expressed optimism that the current recovery at the stock market will be sustained. Its optimism is based on the improved macroeconomic conditions and favourable global economic outlook.
World trade will grow by 1.2 per cent this year and by 2.7 per cent in 2020, the World Trade Organisation (WTO) said on Tuesday, revising an earlier forecast as trade conflicts between the U.S. and China weigh on global trade.
Remember the sacrifices made by our Founders and great leaders past; by soldiers, by distinguished public servants; by traditional leaders, by our workers —- sacrifices on which Nigeria has been built over the 59 years since Independence in 1960; and
Lukman Otunuga, research analyst at FXTM, says the Central Bank of Nigeria (CBN) would likely cut interest rates further if macro economic conditions in the country improve.
Seventy-one members of the Peoples Democratic Party (PDP) in the House of Representatives have condemned the presidential system of government, describing it as wasteful and inimical to the country’s growth.
The Bureau of Public Enterprises (BPE) has blamed the gross inefficiency of Nigeria’s publicly owned enterprises for the country’s low GDP growth.
Member of Coalition of Civil Society Groups, at its just concluded 4th All Nigeria Civil Society Economic Conference held in Abuja on Wednesday has commended the management of the Central Bank of Nigeria (CBN) on the fiscal policy and urged the apex bank to sustain recent drop of inflation rate which was a result of increase in classifications of individual consumptions.
The International Monetary Fund (IMF) has said the April 2019 completion date for Ghana’s programme will largely depend on meeting some critical targets during the mission review visit in September.
The International Monetary Fund (IMF) said on Tuesday it would begin talks with Angola over providing financial support after the oil-producing country’s economic growth was weaker than expected this year.
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The Nigeria Police has debunked reports published by some media organisations and some social media platforms that a 47-year-old Olaoluwa Bolarinwa who was arrested in connection with robbery activities in Ibadan, Oyo State capital, was tortured to death by members of the Inspector General of Police Special Tactical Squad (IGPSTS) while in their custody at Itele area of Lafenwa, Ogun State.
The Bayelsa Government has sealed six churches in the state for breaching ”operational protocols” required to conduct services during the COVID-19 pandemic.
Chairman of the Presidential Task Force on COVID-19, PTF, and Secretary to the Government of the Federation, SGF, Boss Mustapha, on Sunday said that Nigeria has reached the apex of community transmission and must get the communities involved in the fight against COVID-19.
There may be no going back on transparent and democratic primaries for the choice of governorship candidates by the All Progressives Congress (APC) in Edo and Ondo states, it was learnt yesterday.
Oil prices edged down on Monday as traders took profits, with the Organisation of the Petroleum Exporting Countries (OPEC) considering meeting as soon as this week to discuss whether to extend record production cuts beyond end-June.
The National Human Rights Commission has urged the 11 northern states of the federation that are yet to domesticate the Child’s Rights Act (CRA) to quickly do so.
Espanyol and Leganes fans, holding current season tickets, will be handed free passes for the entire 2020-2021 campaign to compensate for missing matches due to the shutdown caused by the coronavirus pandemic, the two La Liga clubs said on Tuesday.
The global oil market remains dull as 50 unsold cargoes of Nigeria’s Bonny Light await buyers, indicating that the volatile market is still flooded with unsold stocks.
Microsoft has identified digital transformation as a means for social and economic development in Nigeria, just as it’s an opportunity for every Nigerian citizen and business to achieve more, in a presentation.
A Federal High Court sitting in Lagos south west Nigeria has restrained the Minister of Petroleum Resources and Department of Petroleum Resources (DPR) from revoking the Ororo Marginal Field in OML 95 pending the determination of the substantive suit filed before the court.