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Farooq

Archive by Category "Commentary"

HomeArchive by Category "Commentary"

As oil prices continue to reflect uncertainty, Organization of the Petroleum Exporting Countries, (OPEC) finds itself in a no-win situation with prices almost certainly to soften over the next year. This would obviously be dire for the value and strength of the Nigerian Naira and for Government spending. Over the last year, OPEC has been trying […]

  • dollar to naira

Today’s headline, rolled out slavishly by our mainstream media is plain fake news – There will be no $30bn Japanese investment in Nigeria. It is these misleading stories that deceive Nigerians. The Japanese have no more plan to invest $30bn in Nigeria than I do to strip naked, paint myself blue and run down Lagos, […]

Oil prices are down a further 3% on Friday after a 5% crash on Thursday. It appears OPEC driven supply cuts are not sustaining prices as US shale Oil ramps up, Libya production hits and doubts surround the Russian cuts. Forward contracts suggest the drop will be sustained or has further to go. All this […]

Deals in Nigeria take an extraordinarily long time to complete. Yesterday’s announcement by CBN Governor Mr. Godwin Emefiele lauding the take off of a venture between Lee Group and Jigawa state to producer sugar was first announced in 2015. How has  it taken 2 years to get to the point of mobilisation? Having been active […]

By Ugo Nwagwu The Nigerian National Petroleum Corporation (NNPC) has put the national daily consumption of petrol at 40 million liters per day. The ‘barrel of crude’ equivalent is 478,068. That is to say that 478,068 barrels of crude should be able to supply the demand of petrol every day in Nigeria. Nigeria’s peak production […]

By Ugo Nwagwu Niger Delta Avengers, Tomato Ebola, economy heading full steam into a recession, incoherent foreign exchange policy, civil unrest in the southeast….the list reads like a nation in turmoil and that’s because it is. It was only a little over a year ago that PDP and APC campaigned on differing personas to lead […]

By Ugo Nwagwu Yesterday, we celebrated commemorated Democracy Day. It also marked the one year anniversary of APC and President Muhammadu Buhari’s rule. Several weeks ago, we ranked the Top 5 Ministers on the hot seat. As you can imagine, these things are fluid. Yesterday’s prisoner can be tomorrow cup bearer. You’d understand if you […]

  • dollar to naira

By Ugo Nwagwu The Central Bank of Nigeria (CBN) on Tuesday announced plans for a flexible exchange rate regime aimed at increasing foreign currency accessibility. This move had been expected and predicted by many economists for weeks. Even the Vice President Yemi Osinbajo has hinted at a rate of N285 per $1 as a guideline […]

By Ugo Nwagwu Venezuela is on the brink to total collapse. Venezuela as of now is a failed state. And that’s just the beginning because unfortunately, things are actually going from bad to worse. Venezuela’s GDP is expected to plunge by and additional 8 percent this year, and inflation is set to rise even more […]

By Ugo Nwagwu The Nigerian National Petroleum Corporation (NNPC) has put the national daily consumption of petrol at 40 million liters per day. The ‘barrel of crude’ equivalent is 478,068. That is to say that 478,068 barrels of crude should be able to supply the demand of petrol every day in Nigeria. Nigeria’s peak production […]