The Naira reversed the losing streak in its exchange rate against the US dollar at the parallel market on Tuesday, trading at an average of N760/$1 and representing a 1.94% appreciation from the N775/$1 it exchanged when the market opened on Monday. Some of the FX traders at the parallel market during telephone chat with our […]
The Debt Management Office (DMO) has reported that the Federal Government’s savings bond subscription since inception in 2017 totalled N45.132 billion by the end of year 2022. The agency’s Director-General, Patience Oniha, gave these figured at the unveiling and demonstration of a technology-powered securities subscription portal in Lagos. Oniha noted that the government’s debt management […]
The Group Chief Executive Officer of Nigerian National Petroleum Company Limited (NNPCL), Mallam Mele Kyari, has projected that Nigeria’s crude oil production output would soon hit the 1.8 million barrels per day (mb/d), quota set by the Organisation of Petroleum Exporting Countries (OPEC) for the country. Kyari made this forecast at a conference chaired by […]
The Nigerian Communications Commission (NCC) has reported that number of inactive or unused or abandoned lines across the mobile network operators’ (MNOs) networks declined by 13% in 2022, reflecting that more subscribers activated their lines in the year. According to the industry’s regulatory standard, a mobile line is considered to be inactive if it is […]
A professor of Economics at the Lagos Business School, Prof. Bongo Adi, has revealed that recent research by him and other university dons showed that the proliferation of digital lending apps’ deploying companies in the country has the potential of worsening Nigeria’s poverty level . The renowned economist, who made this remark during a webinar […]
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mr. Mele Kyari, on Thursday hinted that the company would commence drilling for crude oil in Nasarawa State’s Keana oil field effective from March 21 this year. Kyari, who made this disclosure during a meeting he held with the state Governor, Engr. Abdullahi […]
Julius Berger Nigeria Plc, one of Nigeria’s construction giants, has announced the completion of its N30 billion Series 1 and 2 Commercial Paper (CP) issuance. The company, in a corporate disclosure signed by its Company Secretary Mrs Cecilia Madueke, and sent to the Nigerian Exchange Limited, indicated that the commercial paper issuance was over-subscribed, demonstrating […]
The Naira appreciated against the US dollar at the black market in the early hours of Wednesday, trading at an average of N755/$1 at the black market compared to the N756/$1 it exchanged at during the previous day’s trading session. Some of the FX traders in the parallel market attributed the slight rebound of the […]
The Nigerian Exchange Limited (NGX) has advocated the need for improved government incentives to encourage companies to list on the nation’s equities market. The NGX’s Chief Executive Officer, Mr. Temi Popoola, who made the call during an interview with journalists, pointed out that exploring the opportunities in capital market through fiscal and other incentives would […]
Economic researchers at the Centre for the Study of Economies of Africa (CSEA), one of Nigeria-based economic research organization with primary focus on developments in Africa’s economies, have stressed the need for the government to intensify ongoing reforms in the oil and gas industry to boost foreign exchange earnings for the country. The forecast by […]