Economist urges Africa to adopt Chinese Yuan as reserve currency

20 November 2019

African countries should hasten the adoption of the Chinese legal tender — yuan — as a reserve currency amid increased bilateral trade with China, a Kenyan economist said.

Bernard Ayieko, a...

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Border closure:Emefiele speaks as inflation hits 17-month high

20 November 2019

The Central Bank of Nigeria Governor, Mr Godwin Emefiele has assured Nigerians  that the rise in inflation is temporary and will go down aggressively in another three to four months.

A...

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Denmark to create 25,000 jobs for Nigerians

18 November 2019

The Danish Ambassador to Nigeria, Amb. Jesper Kamp, says his home government is now committed to creating job opportunities for Nigerians than giving them financial aids.

Amb. Jesper...

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NNPC secures $1.16m US grant for 1,350MW Abuja power plant

15 November 2019

The Nigerian National Petroleum Corporation (NNPC) and the United States Trade and Development Agency (USTDA) have concluded arrangement to sign a 1.16 million dollar grant as part funding for the... Read More...

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Oil rises as data shows surprise drop in U.S. crude inventories

14 November 2019

Oil rose on Thursday after industry data showed a surprise drop in U.S. crude inventories, while comments from an OPEC official about lower-than-expected U.S. shale production growth in 2020 also... Read More...

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FEC grants capital increase for Nigeria at International Reconstruction Bank

13 November 2019

The Federal Executive Council has approved the submission of Memorandum of Law for additional capital increase for Nigeria at the International Bank for Reconstruction and Development.

NAN...

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Nigeria 1.6-1.7m bpd oil output, in line with OPEC cut —NNPC

13 November 2019

Nigeria is producing 1.6 million – 1.7 million barrels per day (bpd) of crude oil, the chief operating officer of the Nigerian National Petroleum Corporation said on Wednesday, adding that the... Read More...

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Visa moves to acquire stake in Nigeria’s Interswitch

12 November 2019

Visa Inc plans to acquire a “significant minority” stake in payments platform Interswitch, the Nigeria-based company said on Tuesday.

Interswitch did not provide financial details in its...

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Oil prices gain as market awaits signals on US-China trade talks

12 November 2019

Oil prices rose on Tuesday, reversing early losses on hopes that U.S. President Donald Trump may signal progress on trade talks with China in a speech later in the day.

Brent crude futures...

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Oil Worth $42bn Stolen In Nigeria Within Nine Years – NEITI

07 November 2019

The Nigeria Extractive Industries Transparency Initiative (NEITI) has said that Nigeria lost about $42 billion to crude theft as well as domestic and refined petroleum products losses between 2009... Read More...

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