New to site?


Lost password? (X)

Already have an account?





By Oludare Mayowa and Chijioke Ohuocha LAGOS Oct 31 (Reuters) – Nigeria’s largest airline Arik Air plans to nearly double its fleet to 52 planes within 10 years and has already ordered some of them from Boeing, a source at the company said on Monday. Most of the carrier’s existing fleet are Boeing planes and […]

The Naira on Monday in Lagos appreciated marginally against the dollar at the parallel market, gaining N2, the News Agency of Nigeria NAN) reports. The currency exchanged at N468 to the dollar as against N470 it traded on Friday. The Pound Sterling and the Euro closed at N565 and 510, respectively. At the interbank market, […]

* OPEC supply rises by 130,000 bpd to 33.82 million bpd * Output 820,000 bpd above top of new planned output range * Saudi output steady to lower, still close to record By Alex Lawler LONDON, Oct 31 (Reuters) – OPEC’s oil output is likely to set another record high in October, a Reuters survey […]

  • CBN

The Central Bank of Nigeria (CBN) at the weekend, sold about N51 billion ($168 million) worth of treasury bills to mop up liquidity even as the overnight lending rate traded flat around 10 per cent, traders said. The bank sold N25 billion of 174-day open market operation bills at 18 per cent and N26 billion […]

  • niger delta avengers

* Militants fight for greater share of oil money in Niger Delta * Major group warns President Buhari to end military campaign * Buhari due to meet Niger Delta leaders on Tuesday * Nigeria’s oil hub suffers from poverty despite energy wealth By Tife Owolabi LAGOS, Oct 31 (Reuters) – A Nigerian militant group threatened […]

LAGOS Oct 31 (Reuters) – Nigeria’s central bank will sell $500 million of two- and three-month currency forwards at auction on Monday to clear a demand backlog from manufacturers, traders said, as it seeks ways to resolve a chronic dollar shortage. A lack of dollars has caused many firms to halt operations and lay off […]

  • CBN

LAGOS Oct 31 (Reuters) – Nigeria’s foreign currency reserves fell 20.5 percent year-on-year to $23.95 billion by Oct. 27, down 2.7 percent month-on-month, central bank data showed on Monday. The central bank has been selling dollars to support the weakening naira, hit by low oil prices that have triggered the first recession for 25 years. […]

AHEAD of their meeting with President Muhammadu Buhari, tomorrow, strong indications emerged, yesterday, that elders, leaders and stakeholders of the Niger Delta Region have rejected the Federal Government’s move to launch a $10 billion (N4 trillion) infrastructural rebirth investment programme in the area. The multi-trillion naira programme is part of the Short and Medium Term […]

The scarcity of foreign exchange from the official window has compelled some manufacturers to source funds from the black market in order to keep their business going. In the coming months, affected manufacturing firms say consumers may have to pay about 100 per cent more than what they currently pay for locally manufactured products. Some […]

  • Author
  • Comments
  • Category
  • Tag

The Debt Management Office has fixed the maximum limit for the federal government’s domestic and external borrowing at 22.08 billion dollars for the 2017 fiscal year. This is part of policy recommendations of the Debt Management Office contained in its 2016 report of the annual national debt sustainability analysis. According to the management office, new […]