Ghana eyes fuel imports from Dangote oil refinery
Ghana could buy petroleum products from Nigeria’s Dangote Oil Refinery once the facility is operating at full capacity, cutting more expensive exports from Europe, the head of the country’s oil…
Nigeria targets diaspora cash, $1 bln monthly remittances, central bank chief says
WASHINGTON D.C. – Nigeria is considering a diaspora bond in the United States next year and is targeting remittance inflows of $1 billion a month, its central bank chief told…
After many thrown into abject poverty over Nigeria’s economic crisis, IMF denies asking President Tinubu government to remove fuel subsidy
Morakinyo Akinosun The International Monetary Fund (IMF) has clarified that it was not behind the removal of fuel subsidy in Nigeria, and acknowledged the impact of economic hardship on Nigerians.…
MTN Nigeria will shut down without tariff hike, says CEO Karl Toriola
Morakinyo Akinosun LAGOS – MTN Nigeria has stressed the urgent need for the telecommunications sector to return to profitability to sustain its operations in the country, with the country’s largest…
UK imposes sanctions on Russian oil and LNG vessels
Reuters LONDON – Britain said on Thursday it had imposed sanctions on 18 more Russian oil tankers and four liquefied natural gas vessels, the largest batch of sanctions to date…
Nigeria’s inflation rate rises to 32.7%
Morakinyo Akinosun Nigeria’s headline inflation rate in September 2024 rose to 32.70%, up from 32.15% in August 2024, marking a 0.55% increase month-on-month, according to the National Bureau of Statistics…
Algeria bars France from wheat import tender as relations sour, sources say
Reuters Algeria excluded French companies from a wheat import tender this week and required that participating firms did not offer French-origin wheat, in apparent fallout from renewed diplomatic tensions between…
Nigerian President Tinubu’s nephew-owned Oando Plc, two others shortlisted to acquire Trinidad’s refinery
Olayomi Koiki and Morakinyo Akinosun A Nigerian oil company, Oando Plc owned by President Bola Ahmed Tinubu’s nephew, Wale Tinubu, has been shortlisted by the Trinidadian government as one of…
Naira depreciates to ₦1,700/$ at parallel market
Agency Report Lagos – The Nigerian naira depreciated to ₦1,700 per U.S. dollar at the parallel section of the foreign exchange (FX) market on Friday. At the end of trading…
Naira depreciates to ₦1,645/$ in parallel market
Martins Owoseni The Nigerian Naira depreciated to ₦1,645 per dollar from ₦1,640 per dollar on Tuesday and appreciated to ₦1,539.65 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM).…