Business - Page 259

Nigeria Reaffirms OPEC Commitment Amid Angola's Exit, Aims To Exceed Production Targets

Lokpobiri Affirms Commitment To $1.9trn Energy Transition Despite Global Fossil Fuel Divestment Pressure

Senator Heineken Lokpobiri, Minister of State for Petroleum Resources (oil) in Nigeria, asserted that despite global pressure to abandon fossil fuel investments, Nigeria remains committed to utilizing revenues from its hydrocarbons to

Victor Ezeja

January 21, 2024

1.78mpd Oil Output Project Can Be Achieved – NNPCL

Business·Oil & Gas

NNPC Defends $3.3bn Oil Loan Aims To Bolster FX Reserves Amid Mixed Reactions

The Nigerian National Petroleum Company Limited (NNPCL) has justified its controversial $3.3 billion oil pre-payment loan, dubbed 'Project Gazelle'.

Emmanuel Ochayi

January 21, 2024

NGX ASI Further Drops By 0.67%, As BUA Cement, Eterna Among Top Losers

Business·Markets

NGX Surges To Record Weekly High With 13.8% Gain, Crossing N51trn Market Cap Milestone

Nigerian Exchange Group (NGX) witnessed an unprecedented surge in its All-Share Index (ASI), closing the week with a staggering 13.8% gain—the highest weekly increase in recent memory.

Emmanuel Ochayi

January 21, 2024

Naira Gains More As Exchange Rate Drops To N1,300/$1 At Official Market

Business·Currency

Naira Depreciates To N902/$1 As Forex Turnover Drops 17.36% To $145.89m

Naira faced a 0.04% depreciation, closing at N902.45 to a dollar in the official market, as reported by the Nigeria Autonomous Foreign Exchange Market (NAFEM).

Emmanuel Ochayi

January 21, 2024

Business·Oil & Gas

14 Fossil Fuel Giants’ $346.713bn Windfall Profit Calls For Global Climate Action

A report by ActionAid has revealed that 14 fossil fuel companies experienced profit windfalls of $346.713bn in just 24 months.

Victor Ezeja

January 21, 2024

Gold Near Record Highs Amidst Inflation Concerns

Business·Currency

Gold Price Rallies Above $2,030 Amidst Geopolitical Tensions, Uncertain Fed Outlook

As global tensions escalate with conflicts in the Middle East and geopolitical events unfold, Gold prices surge beyond $2,030, reflecting heightened demand for safe-haven assets.

Emmanuel Ochayi

January 21, 2024

Naira Rises Against Dollar, Ends Week On Positive Note

Business·Currency·News

Naira Hits Record Low Against British Pound Amid High Demand For Dollars

Nigerian parallel market exchange rate plummeted to an all-time low of N1,680 per Great Britain Pound (GBP), showcasing a 7% decline compared to the previous week.

Emmanuel Ochayi

January 21, 2024

Business·News

Manufacturers Seek Urgent Action As N2trn Spent On Raw Material Imports Outpaces Exports

Data from the National Bureau of Statistics indicates that manufacturers in Nigeria spent N2 trillion on importing raw materials for production in the first nine months of 2023. The figures reveal a

Emmanuel Ochayi

January 19, 2024

Business

Inflation: LCCI Urges Govt Action Amid Economic Challenges

The Lagos Chamber of Commerce and Industry (LCCI) has sounded a clarion call to the Federal Government, urging immediate attention to the nation’s mounting economic woes. At a press conference in Lagos

Emmanuel Ochayi

January 19, 2024

Business·Currency

Naira May Depreciate To N1500/$1 In 2024 – Expert

Johnson Chukwu, the Group Managing Director, warned of a potential worst-case scenario where the naira could plummet to N1,500 against the dollar this year. Chukwu during the Cowry Asset Management’s economic review

Emmanuel Ochayi

January 19, 2024

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Business - Page 259

Lokpobiri Affirms Commitment To $1.9trn Energy Transition Despite Global Fossil Fuel Divestment Pressure

NNPC Defends $3.3bn Oil Loan Aims To Bolster FX Reserves Amid Mixed Reactions

NGX Surges To Record Weekly High With 13.8% Gain, Crossing N51trn Market Cap Milestone

Naira Depreciates To N902/$1 As Forex Turnover Drops 17.36% To $145.89m

14 Fossil Fuel Giants’ $346.713bn Windfall Profit Calls For Global Climate Action

Gold Price Rallies Above $2,030 Amidst Geopolitical Tensions, Uncertain Fed Outlook

Naira Hits Record Low Against British Pound Amid High Demand For Dollars

Manufacturers Seek Urgent Action As N2trn Spent On Raw Material Imports Outpaces Exports

Inflation: LCCI Urges Govt Action Amid Economic Challenges

Naira May Depreciate To N1500/$1 In 2024 – Expert

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