Economy

Nigeria: Inflation drops from 17.26% in March to 17.24% in the month of April

The National Bureau of Statistics on Tuesday said the Consumer Price Index, which measures inflation dropped from 17.26 per cent in March to 17.24 per cent in the month of … Continue reading

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Sierra Leone government rejects $7.8 million bid for an egg-sized diamond stone

The government of Sierra Leone has rejected a $7.8 million bid, about N2.5 billion  for a rough, egg-sized diamond stone, one of the biggest ever found,  saying it failed to … Continue reading

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Modular refineries will be located in areas where its products would be easily evacuated – Kachikwu

The Federal Government, yesterday, declared that it would no longer allow the proliferation of modular refineries across the Niger Delta region. The government had a few weeks ago said it … Continue reading

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Italian oil giant, Agip to build a new refinery in the country – Kachikwu

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, on Tuesday disclosed that the Federal Government and Italian oil giant, Agip, had reached an agreement for the firm to … Continue reading

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Naira appreciates against the dollar

The Naira on Monday appreciated against the dollar in the parallel market. The Nigerian currency gained three points to exchange at N388 to the dollar, stronger than N391 it traded … Continue reading

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OPEC, non-OPEC agrees to curb production by 1.8 million barrels per day

Saudi Arabia’s OPEC governor said on Friday there is an emerging consensus among OPEC and non-OPEC countries who took part in a global pact to cut crude output on the … Continue reading

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CBN insists 41 items are not eligible for foreign exchange

Central Bank of Nigeria (CBN) has explained that the ban it placed on 41 items that are not eligible for foreign exchange is still in place as the policy has … Continue reading

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Nigeria, 4 other African countries are the key hub economies in Africa — Report

The EY.com, a global leader in assurance, tax, transaction and advisory services, says Egypt, Kenya, Morocco, Nigeria and South Africa are the key hub economies in Africa. Its latest Africa … Continue reading

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NNPC shops for about 16.5 billion dollars to execute several oil and gas projects

The Nigerian National Petroleum Corporation (NNPC), has disclosed that it would be shopping for about 16.5 billion dollars to execute several oil and gas projects lined up for execution. The … Continue reading

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CBN bars 14 banks from dealing in the Small and Medium Enterprises wholesale forex window

The Central Bank of Nigeria (CBN), on Tuesday, barred First Bank, the United Bank for Africa(UBA)  and 12 others  from dealing in the Small and Medium Enterprises (SME) wholesale Forex … Continue reading

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