The president of the Association of Bureaux De Change (BDC) Operators of Nigeria (ABCON), Alhaji Aminu Gwadabe, on Wednesday defended the CBN’s retention of the benchmark interest rate and other monetary policy parameters. The CBN’s Monetary Policy Committee (MPC) met on Tuesday and retained the Benchmark interest rates at 14 per cent, alongside other monetary […]
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The prices of oil has hit more than two-year high, after major producers said the global market was on its way toward rebalancing. The November Brent crude futures contract was up $1.51, or 2.5 per cent, at $58.37 a barrel, its highest since July, 2015. United States (U.S.) West Texas Intermediate crude for November delivery […]
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The Organisation of Petroleum Exporting Countries (OPEC), has agreed to allow Nigeria supply crude oil to the global market, in continuation of the exemption from the oil production cuts agreed on by members and non-members. The decision was made at the meeting of the joint ministerial monitoring committee of OPEC and non-OPEC countries which held […]
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Babatunde Raji Fashola, minster of power, work and housing has said that Nigeria’s power generation as at September 2017 has increased up to 7001 megawatts with transmission up to 6,700 megawatts and distribution rising to 4,600 megawatts. Fashola disclosed this at the executive session of the National Council on Power meeting said this increase can, […]
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The Minister of state for aviation, Hadi Sirika, says the federal government will proceed with concession of airports in the country, because there is no money to improve on them. The minister made this statement while addressing state house correspondents on Wednesday, government could no longer sustain the funding of the 22 airports in the […]
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Oil price rose on Wednesday in spite of a rise in U.S. crude inventories with the market heading for its largest 3rd quarter gain in 13 years after the Iraqi oil minister said OPEC and its partners were considering extending or deepening output cuts. Brent crude futures rose to 56.20 dollars a barrel by 12:19 […]
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Kogi state is ready to flood the markets with rice and fish by December following the mass production of the products by the state-owned Omi Agricultural Development Centre. The centre situated in Yagba-West Local Government would be out with “Confluence’’ rice, Mr David Apeh, Special Adviser to Gov. Yahaya Bello on Agriculture and Rural Development, […]
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The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) on Sunday called on the Federal Government to settle all debts owed oil marketers to engender growth of the oil and gas industry and develop the nation’s economy. The union made the call against the backdrop of threat by the marketers to embark on […]
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The National Bureau of Statistics, NBS, on Friday said Nigeria’s inflation rate dropped from 16.05 per cent in July to 16.01 per cent in August. The NBS made this known in its Consumer Price Index, CPI, report which measures inflation. The development, the NBS noted, is the seventh consecutive month that the index would be […]
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Nigeria’s public debt stock for both the Federal Government and the states as at June 30 stood at N19.63 trillion, a document by the Debt Management Office (DMO) says. The document was obtained from the DMO website on Monday in Abuja. Giving a breakdown of what each tier owed, it said the external debt stock […]
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