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Finance & Economy - Page 148

Venezuela Says U.S. Oil Sales Proceed Commercially as Revenues Climb Into Billions

Venezuela’s interim president, Delcy Rodríguez, has defended recent crude oil sales to the United States as strictly commercial transactions conducted through the state oil company, Petróleos de Venezuela, S.A. (PDVSA), insisting that pricing mechanisms follow international norms and that proceeds are being

February 13, 2026

#EndBadGovernance Protests: PDP Criticises Tinubu's Silence, Demands Immediate Response

Oil & Gas·World News

Nigeria Now Competing With Russia On Energy Supply To Europe – Tinubu Tells The World

President Bola Tinubu on Tuesday expressed Nigeria’s preparedness to participate in friendly competitions in the international market for the supply of renewable energy as a way of diversifying the country’s economy. The Nigerian leader expressed this ambition in an op-ed published on

December 12, 2023

Kaduna Refinery: The Role Of Local Refining In Nigeria's Fuel Economy

Business·News·Oil & Gas

Ex-NNPC Executive Foresees Economic Boost, Environmental Concerns From Dangote Refinery

Dr. Godswill Ihetu, a former top executive at NNPC Limited and Nigeria LNG Limited, provided insights into the impending impact of the Dangote Refinery on Nigeria’s economy. “The commissioning process is underway, but we’re yet to witness the debut of products in

December 12, 2023

Business·FEATURES·Finance & Economy·News

Nigeria’s Moody’s Rating Upgrade: A Testament To Reform’s Impact- Analyst

Moody’s Investors Service, a globally recognized rating agency, shifted Nigeria’s credit outlook from stable to positive, marking a potential turning point in the nation’s fiscal and external trajectory due to robust governmental reforms. According to Prime Business Africa, this shift, announced on

December 11, 2023

Naira Falls Against Dollar In Black Market As Demand Increases In FX Market

Business·Currency·News

Naira Bounces Back, Appreciates To N864/ $1 In Official Market

In a turn of events, the Naira staged a comeback against the dollar, marking a 27.16% appreciation at the official market on Monday, December 11th, 2023. Following its historical low just days ago, the local currency closed at N864.29 to a dollar,

December 11, 2023

Economy: Don’t Suffocate Businesses, CPPE Warns Regulatory Agencies

Business·Currency·News

CPPE Urges CBN To Reconsider Exchange Rate Surge For Sustainable Economic Growth

Dr. Muda Yusuf, CEO of the Centre for Promotion of Private Enterprise (CPPE), raised concerns over the Central Bank’s decision to elevate the customs exchange rate, emphasizing the potential detrimental impact on businesses and citizens alike. “Such a move worsens our production

December 11, 2023

Business·News·Oil & Gas

Eterna Plc, TotalEnergies, MRS Oil Forecast N290bn Revenue In Q1 2024 Amidst Market Surge

In a bold toward Q1 2024, three major oil and gas entities—Eterna Plc, TotalEnergies Marketing Nigeria Plc, and MRS Oil—have revealed projections totaling N290 billion in revenue, as disclosed in their earnings forecast filed with the Nigerian Exchange Limited. Eterna Plc eyes

December 11, 2023

How Nigeria’s External Reserves Rose By 5.6% To $38.8bn In 2024 — CBN

Business·Finance & Economy·News

Nigerian Govt Records N1.54tn Fiscal Deficit Amid Revenue Boost

In a financial disclosure from the Central Bank of Nigeria (CBN), the Federal Government faced an N1.54 trillion fiscal deficit during July and August 2023, despite a surge in revenue streams. The CBN’s monthly economic report for August shed light on this,

December 11, 2023

CBN Reforms Yielding Positive Returns As FX Transactions Surge To $800m, CBN Gov Assert

Business·Finance & Economy·News

Nigeria’s External Reserves Decline By $520 Million In 5 Weeks, CBN Warns Of Economic Challenges

The Central Bank of Nigeria (CBN) disclosed a $520.22 million reduction in the country’s external reserves within five weeks, plummeting from $33.396 billion as of October 31, 2023, to $33.004 billion by December 7, 2023. During the Chartered Institute of Bankers of

December 11, 2023

Nigeria Blocks $802 million Revenue Belonging To Foreign Airlines

Business·Currency·Transport

‘Foreign Airlines May Exit Nigeria’s Airspace’ – IATA Ranks Nigeria Country With Highest Trapped Funds

It has emerged that over $792 million belonging to foreign airlines are currently trapped in Nigeria leaving them without dollar bills for their business, a development that is currently hampering their operations globally and making them consider quitting the country’s airspace altogether.

December 11, 2023

FBN Holding Appoints Otedola As Chairman Days After Return To Forbes African Billionaires

Business·News·Oil & Gas

Dangote’s $20 Billion Refinery To Propel Nigeria’s Economic Transformation, Environmental Sustainability- Otedola

Femi Otedola, a Nigerian billionaire investor, hailed Aliko Dangote’s colossal refinery project as a game-changer for Nigeria’s economy and environmental goals. Otedola, in a social media announcement on X (formerly Twitter), extending warm felicitations to his “bestie” Aliko Dangote, labeled the refinery

December 10, 2023

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Trump Threatens 100% Tariffs on Canadian Goods Over China Trade Deal

U.S. President Donald Trump has threatened to impose 100 per

Nigeria Tightens Rules for Courier Companies Using Prepaid Imports

Nigeria’s customs authority has introduced new rules for courier companies

Behind the Geregu Power Sale: Politics and a $750m Deal

The sale of Geregu Power, one of Nigeria’s largest electricity

Recapitalisation: UBA Extends Deadline For Rights Issue

UBA Hits Billion-Naira Milestone: Rights Issue Success Pushes Capital Base Above ₦500bn

United Bank for Africa (UBA) has successfully concluded its rights

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Finance & Economy - Page 148

Venezuela Says U.S. Oil Sales Proceed Commercially as Revenues Climb Into Billions

Nigeria Now Competing With Russia On Energy Supply To Europe – Tinubu Tells The World

Ex-NNPC Executive Foresees Economic Boost, Environmental Concerns From Dangote Refinery

Nigeria’s Moody’s Rating Upgrade: A Testament To Reform’s Impact- Analyst

Naira Bounces Back, Appreciates To N864/ $1 In Official Market

CPPE Urges CBN To Reconsider Exchange Rate Surge For Sustainable Economic Growth

Eterna Plc, TotalEnergies, MRS Oil Forecast N290bn Revenue In Q1 2024 Amidst Market Surge

Nigerian Govt Records N1.54tn Fiscal Deficit Amid Revenue Boost

Nigeria’s External Reserves Decline By $520 Million In 5 Weeks, CBN Warns Of Economic Challenges

‘Foreign Airlines May Exit Nigeria’s Airspace’ – IATA Ranks Nigeria Country With Highest Trapped Funds

Dangote’s $20 Billion Refinery To Propel Nigeria’s Economic Transformation, Environmental Sustainability- Otedola

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Senate U-Turn or Smoke Screen? Loopholes in Electoral Reform Persist

Opinion: Why Afreximbank’s Break with Fitch Exposes a Deeper Rift

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U.S. Energy Secretary Wright Visits Caracas to Boost Venezuela Energy Ties

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Chinese Embassy Denies U.S. Allegations of Illegal Mining, Terror Funding in Nigeria

Dollar Rate Drops To N1,404/$ In Black Market, Rises To N1,355/$ In Official Window

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Trump Threatens 100% Tariffs on Canadian Goods Over China Trade Deal

Nigeria Tightens Rules for Courier Companies Using Prepaid Imports

Behind the Geregu Power Sale: Politics and a $750m Deal

UBA Hits Billion-Naira Milestone: Rights Issue Success Pushes Capital Base Above ₦500bn

Chinese Embassy Denies U.S. Allegations of Illegal Mining, Terror Funding in Nigeria

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Finance & Economy - Page 148

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