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  • Kachikwu

The Nigerian National Petroleum Corporation  (NNPC) has revealed that the country is now producing as much as 2.1 million barrels of oil per day. Speaking at the 2017 Nigeria oil and gas conference and exhibition, Makainti Baru, general managing director of the NNPC, said the ongoing negotiations with stakeholders in the Niger Delta is responsible […]

* Saudi posts big reduction, boosting average compliance * Nigerian, Iranian increases partly offset curbs elsewhere * For details of February production by country, see By Alex Lawler and Rania El Gamal LONDON, Feb 28 (Reuters) – OPEC has cut its oil output for a second month in February, a Reuters survey found on Tuesday, […]

* President Buhari on sick leave for past six weeks * Vice President Osinbajo in charge of OPEC member * Buhari had promised reforms but got little work done * Partial currency devaluation praised by investors By Felix Onuah and Ulf Laessing ABUJA/LAGOS, Feb 28 (Reuters) – When protesters marched on Nigeria’s presidential villa earlier […]

The naira continued to regain strength and appreciate in value in the parallel market on Tuesday as it was sold for N425 to a dollar. However, it was N450 to a dollar at the close of transactions on Monday. A survey carried out by the News Agency of Nigeria (NAN) on Tuesday at the Bureau […]

  • dollar to naira

The dollar trended south Tuesday, though many investors were sitting on the sidelines ahead of U.S. President Donald Trump’s address to a joint session of Congress later. The greenback USDJPY, -0.32%   fell to ¥112.46, compared with ¥112.74 late Monday in New York. The euro EURUSD, +0.0945%  was trading at $1.0595, slightly up from $1.0587 […]

LAGOS Feb 28 (Reuters) – Nigeria’s gross domestic product fell by 1.5 percent in 2016 due to lower oil revenues, the National Bureau of Statistics said on Tuesday, for its first annual contraction in 25 years. Africa’s largest economy slid into recession in the second quarter of 2016 as a slump in crude prices hammered […]

The naira continued to strengthen on the parallel market on Monday to close at N435 to the dollar, stronger than N450 to the dollar at which it closed last Friday, as the Central Bank of Nigeria (CBN) continued to relentlessly pump the greenbank into the interbank foreign exchange market to meet the demand of bank […]

Dollar to Naira Rate Black Market February 28 2017. Today’s Naira Black Market Exchange Rates. Dollar to Naira. Pounds to Naira. Euros to Naira. These are the prevalent rates for Lagos. Actual rates may vary slightly based on vendor. Rates are updated during the day as they change. NAIRA (N) USD ($) EURO (€) GBP […]

Oyetunji Abioye The naira closed flat at 445 against the United States dollar at the parallel market on Monday as the foreign exchange market awaits the further release of the greenback by the Central Bank of Nigeria. The CBN has sold additional $180m into the market this week, barely one week after selling about $600m. […]

  • OPEC

By Chineme Okafor in Abuja The Secretary General of the Organisation of Petroleum Exporting Countries (OPEC), Dr. Mohammed Barkindo, monday said the cyclical downturn in crude oil prices which lasted from 2014 to 2016 meant that member countries of the cartel could not earn about $1 trillion of oil revenue. Barkindo also stated that globally […]