Business

Naira maintains stability, closes at 364 per dollar

The naira closed flat at 364 per United States dollar on Wednesday, the same rate it closed on Monday and Tuesday. This is despite a $414m injection into the foreign … Continue reading

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Nigeria’s debt hits N19trn

​Nigeria’s total indebtedness​​ to foreign and local creditors ​now stands at N19.16tn,​ according to latest figures by​ the Debt Management Office​, DMO. Figures show that the total debt ​was N12.06tn​ … Continue reading

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CBN releases more dollars to strengthen Naira

Relentless to achieve convergence of rates between the interbank and Bureau de Change segments of the foreign exchange market (FOREX), the Central Bank of Nigeria (CBN) has injected another 190 … Continue reading

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OPEC to legalize oil cut with non-OPEC – Barkindo

Following the success of the second joint Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC meetings, the two organizations are presently looking into legalizing their new found relationship, says OPEC … Continue reading

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Dangote to invest $1billion dollars in rice cultivation

The Dangote Group said  it will  invest $1billion dollars in rice cultivation in five states to boost food self-sufficiency in Nigeria. The group made this known at the Gateway Fair … Continue reading

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CBN pursues elusive naira stability

As the Central Bank of Nigeria steps up efforts to achieve naira stability through the convergence of the official and unofficial exchange rates. Nigeria, the biggest economy in Africa, is … Continue reading

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Senate approves unbundling NNPC

The Senate on Thursday passed first tranche of the Petroleum Industry Bill (PIB), titled the Petroleum Industry Governance Bill (PIGB) 2017. The bill, which is expected to take care of … Continue reading

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There won’t be open bidding for Nigeria’s refineries‎ – Kachikwu

The Minister of State for Petroleum Resources, Ibe Kachikwu has revealed that there will not be an open bidding for refineries’ repair. Kachikwu made this known while speaking in Vienna, … Continue reading

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Nigeria accepts OPEC’s production caps, but..

Nigeria is not opposed to joining OPEC production caps, but will have to wait and see production back to acceptable levels. The Minister of State for Petroleum Resources, Dr. Ibe … Continue reading

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34 firms bid for digitization of NNPC legacy documents

The Nigerian National Petroleum Corporation (NNPC) on Tuesday received no fewer than 34 bids submitted by different companies for the digitization of legacy documents in the corporate headquarters. The bid … Continue reading

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