Nigeria’s September Oil Production Hits 1.5 Million Barrels, Bolsters OPEC Output
Nigeria, a vital member of the Organization of Petroleum Exporting Countries (OPEC), recorded a surge in crude oil production in September 2023.
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SEC Urges Private Sector To Spearhead Infrastructure Financing In West Africa
Mr. Lamido Yuguda, the Director General of the Securities and Exchange Commission (SEC), has implored the private sector to take the lead in sourcing long-term financing from the capital market to address pressing infrastructure deficit in the West Africa sub-region. Speaking at
CBN Finally Lifts Forex Restrictions On 43 Items Banned By Emefiele [FULL LIST]
Nine years after the Central Bank of Nigeria (CBN) under its former Governor, Godwin Emefiele, placed restriction on access to the official foreign exchange (forex) market for the importation of some 43 items, the ban was on Thursday lifted by the
Nigerian Equities Soar With N64bn In Capital Gains
Nigerian equities experienced an upswing in the market, largely attributed to the performance of large and mid-cap stocks. This surge resulted in a net capital gain of N64 billion.
Naira Falls to N1045/$ Amid Federal Reserve’s Cautious Stance
As the Federal Reserve maintains a cautious stance amidst uncertainties, the naira faces a significant decline in the parallel market. The continuous mismatch between demand and supply has pushed the naira to N1045/$ against the dollar, marking a 40% loss since mid-June.
U.S. Investors Seek New Collaboration In Nigeria’s Capital Market
A high-profile delegation of United States institutional investors, led by Cameron Khowsroshahi, Senior Investment Advisor for Prosper Africa, expressed their interest in expanding their investments in Nigeria’s capital market. The delegation made the declaration during their visit to the Nigerian Exchange (NGX).
Naira-Dollar Exchange Rate Hits N1,040 In Parallel Market As Scarcity Grows
The exchange rate between the Nigerian Naira and the US Dollar has taken a plunge, reaching N1,040 at the parallel market. This latest development stems from the battle between soaring demand and a constrained supply of foreign exchange in the country. Forex
Nigeria Breweries Director Resigns Amid Heineken Exit
Mrs. Yeliz Yedikardesler has announced her resignation from her role as Non-Executive Director at Nigeria Breweries Plc. The company conveyed this development in an official statement sent to the Nigerian Exchange Limited, a statement that has since piqued the interest of investors
Why Some Marketers Sell Fuel N3 Cheaper Despite 30% Rise In Oil Prices – NNPCL
The Group Managing Director of the Nigeria National Petroleum Company Limited (NNPCL), Mele Kyari, has insisted that the downstream petroleum sector of Nigeria’s economy is fully deregulated, pointing out that this explains why oil marketers now compete among themselves to the extent
Unuigbe Emerges NGX Chairman, Pledges Democratised Investments
Shareholders of the Nigerian Exchange Limited (NGX) have approved the appointment of Mr Ahonsi Unuigbe to succeed Mr Abubakar Mahmoud as the new Board Chairman of the Exchange.
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