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Farooq

Articles Posted by Ugo Nwagwa

HomeArticles Posted by Ugo Nwagwa

April 15, 2016 – By NairaFX IMF Managing Director, Christine Lagarde, who speaking at the opening press briefing of the fund at the 2016 Spring Meetings of the IMF-World Bank in Washington D.C., has asked that the Nigerian Federal Government look for assistance from international institutions that have the capacity to aid the Nigerian economy […]

JOHANNESBURG, April 15 (Reuters) – Falling commodity prices have pushed several African countries back into the embrace of the International Monetary Fund, which has an opportunity to push for reforms and inject transparency into opaque economies.  Top of the list is Angola, Africa’s second biggest crude producer and third largest economy, which has not borrowed […]

Angola is now the number one oil producing nation in Africa, taking over the position from Nigeria. In its latest monthly report, the Organisation of Petroleum Exporting Countries (OPEC) said Nigeria’s oil production fell by 67,000 barrels per day (bpd) in March. The report said Nigeria produced 1.677 million bpd in March, down from 1.744 […]

Agriculture’s contribution to Nigeria’s Gross Domestic Product (GDP) rose marginally from 23.86 per cent in the fourth quarter of 2014 to 24.18 percent, the Central Bank of Nigeria (CBN) has said. The CBN Governor, Mr. Godwin Emefiele, stated this during the Nigerian agricultural finance conference with the theme: “Catalyzing the diversification of Nigerian economy through […]

Experts have expressed fear about the new agreement signed by Nigeria to include China’s currency, Yuan in its foreign reserves. While they envisage many opportunities as result of the agreement, they hold several reservations. One reason for this is because China is investing in US treasury and are the largest purchaser of US treasury. They […]

April 14th 2016 In the last 48 hours, much has been made about the success of President Muhammadu Buhari’s trip to China. For some, it was about the ability to borrow or source cheaper funds and for others, it was the increased investments Chinese companies have promised to make in Nigeria’s potential growth sectors such […]

BEIJING, April 13 (Xinhua) — China is willing to join hands with Nigeria, the largest economy in Africa, to contribute to regional and world economic recovery and growth, Chinese Premier Li Keqiang said here on Wednesday. Li told visiting Nigerian President Muhammadu Buhari during a meeting in the Great Hall of the People that the […]

ABUJA, April 13 (Reuters) – Nigerian lawmakers said on Wednesday they planned to hold talks with the presidency over the 2016 budget bill, which has yet to be signed into law by President Muhammadu Buhari after being passed by parliament last month. The announcement suggests further delays before the legislation takes effect in Africa’s biggest […]

Producing nations risk an oil bust if they don’t reach a freeze agreement of some sort when they meet in Doha, Qatar, this weekend. Market expectations are high and rising for a deal, and crude futures have been climbing as a result, but an accord that would halt production growth will be difficult to reach […]

The Nigerian Stock Exchange (NSE) has announced that the dual listing between NSE and London Stock Exchange (LSE) would facilitate seamless cross-border access for the nation’s capital market to ultimately drive deeper markets that enable capital formation for businesses by creating larger liquidity pools and greater competitiveness for Nigerian investors. Addressing participants during the second […]