Entries by Ugo Nwagwu

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Commodity slump pushes Africa back into IMF’s embrace – Reuters

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 […]

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Angola overtakes Nigeria in crude oil production – The Cable

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 […]

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Nigeria: Agriculture Now Contributes Over 24 Percent to GDP – Central Bank

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 […]

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Nigerian lawmakers to question presidency over long-overdue budget

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 […]

Oil producers risk new crude price collapse

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 […]

NSE, LSE Dual Listing To Boost Capital Formation, Liquidity

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 […]