A West African bloc called on Nigeria and other countries to undergo “necessary structural reforms” to improve their economies, as a collapse in oil and commodity prices continues to cripple economic growth. Nigeria and other member countries should “take appropriate…
Investors on the Nigerian Stock Exchange, NSE, have gained N468 billion in three weeks, as the positive run in the stock market continued last week. This sharply contracts the N660 billion loss suffered by investors last month on the NSE.…
Nigeria’s overnight lending rate fell this week to around 3 percent on Friday from an average of 3.9 percent a week ago on expectations that budget cash will be injected into the banking system on Friday or Monday, traders said.…
THE management of Nigerian Ports Authority (NPA) has written off N119 billion bad debts. The debts are monies owned the agency by terminal operators and some of its partners in the last ten years. The Managing Director of the Authority,…
Christmas is fast approaching and a lot of festivities will be going on. While some people are focusing on their weight, especially after two holidays of eating good food, others are focusing on their finances and setting financial goals for…
The Chief Executive Officer of MTN Nigeria, Ferdinand Moolman last week appealed to the senate to consider the Data price floor as set by the Nigerian Communications Commission, NCC, saying that data price is among the lowest in the continent.…
Nigeria plans to sell 95 billion naira ($302 million) worth of bonds on Dec. 14, its last debt auction for the year, the Debt Management Office (DMO) said on Tuesday. The office said it would sell 35 billion naira of…
Port operations in the country have been hit by hike in import duties of vehicles and rice as well as the introduction of a fish quota system by the administration of former President Goodluck Jonathan. Seaport operators disclosed this in…
Following an injection of naira liquidity into the banking system, Nigeria’s overnight lending rate dropped sharply to an average of 3.9 percent on Friday from 10 percent a week ago. A total of 454 billion naira ($1.49 billion) in debt…
Tanzania and Nigeria’s Dangote Cement have reached an agreement on the supply of natural gas to the firm’s manufacturing plant in the East African country after negotiations stalled over prices, Tanzanian President John Magufuli said on Saturday. The $500 million…
