archiveAugust 1, 2016

The Federal Government is in talks for concessionary loans worth $3.5 billion from the World Bank and African Development Bank (ADB) to help finance a planned this year budget, Finance Minister Mrs Kemi Adeosun said. While discussions are going on, a formal request hasn’t yet been made to the World...

From Market Capitalisation of N9.631 trillion and All-Share Index of 28,042.99 with which the market opened on Monday it closed the first trading day of the week today at N9.563 trillion and 27,843.00 translating to a loss of N68 billion for investors in the day trading. A total of 331.691...

Forte Oil Plc has said it would raise N50 billion debt capital before the end of 2016 financial year. The Group Chief Executive Officer of Nigeria’s leading oil and gas company, Mr. Akin Akinfemiwa, said the company has completed a capital raising program and that discussion was ongoing with the...

The Federal Government has resolved to train at least 500, 000 youths on agriculture and skill acquisition in a bid to provide food security. The Minister of Labour, Chris Ngige said that the move would serve as an avenue to cut unemployment in the country. He not noted that it...

The Central Bank of Nigeria (CBN) has told commercial lenders to set aside extra provisions against their dollar loans immediately in the wake of the sharp fall in the naira, Reuters reported. The nation’s currency has dropped 40 per cent since June, when Nigeria ditched its 16-month-old peg of 197...

Uganda has picked three Nigerian companies and one from Australia, for its oil exploration licensing round, inviting them to negotiate for production sharing agreements, the country said today. Uganda announced its first competitive bidding round for six exploration blocks, covering a total of 3,000 square kilometers (1,150 square miles), in...

Nigeria’s Mohammad Sanusi Barkindo assumed office today in his role as Secretary General of the Organisation of the Petroleum Exporting Countries (OPEC) at the OPEC Secretariat in Vienna, Austria. Barkindo was officially appointed to the post for a three-year term at OPEC’s 169th Meeting of the Conference on 2 June...

Investors in the nation’s equities market segment of The Nigerian Stock Exchange (NSE) in July, lost N545 billion. Last month saw the equities market extend losses as investors continued to take profit over deteriorating macro economy challenges which was further accentuated by June 16.5 per cent inflation rate. Specifically, the...

It can just be simply said that this is not the best of time for the manufacturing sector of the economy as they are at the receiving end of the economic crisis plaguing the nation. Going by the results being shunned out by most of the manufacturing companies listed on...