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Farooq

Archive by Category "News" (Page 250)

HomeArchive by Category "News" (Page 250)

Nigeria will hold talks with Saudi Arabia, Iran and other oil producers by May, hoping to reach a deal on an output freeze at the next OPEC meeting in June, the West African country’s oil minister told Reuters. A deal to stabilise oil output by OPEC and non-OPEC producers fell apart on Sunday after Saudi […]

  • gas opportunities

Oil traded near the highest level in almost five months after U.S. production dropped to the lowest since October 2014 and Iraq said producers plan a new push to agree on an output freeze in talks as early as next month. Brent in London added 0.5 percent after rising 6.7 percent over the previous two […]

Nigeria’s President Muhammadu Buhari needs more time to check the 2016 budget bill before signing it, a government minister said on Wednesday, signaling further delays before the legislation takes effect. The budget for Africa’s top oil producer has been held up for months as Buhari had to withdraw his original bill, which set spending at […]

LONDON, April 20 (Reuters) – * Oil prices rebounded to a 2016 high Wednesday as U.S. stocks of crude posted a smaller-than-expected build and there was a drawdown in gasoline and distillate stocks. * Russia said on Wednesday it was prepared to push oil production to new historic highs, just days after a global deal […]

ABUJA, April 20 (Reuters) – Nigeria will hold off new talks with South Africa’s MTN over a $3.9 billion fine for missing a deadline to disconnect unregistered SIM card users until parliament concludes a probe, its communications minister said on Wednesday. Last month, the House of Representatives launched a probe into whether Nigeria can reduce […]

Iberia Airlines will suspend services to Nigeria on May 12, and Ghana on May 17, due to a drop in demand and “lack of profitability”. Spain’s flag carrier and largest airline has also temporarily suspended services to Istanbul owing to the steep decline in demand. Several Nigerian news sources have cited the Central Bank of […]

LAGOS, April 20 (Reuters) – Yields are expected to rise at Nigeria’s local currency denominated treasury bills auction on Wednesday in tandem with a higher inflation figure for March and possible increase in interest rates by the central bank at its meeting next month. Africa’s biggest economy plans to raise 167.51 billion naira ($845 million) […]

By Obinna Chima Central Bank of Nigeria (CBN) Governor, Mr. Godwin Ifeanyi Emefiele, has expressed optimism that the agreement reached between Nigeria and China last week on a currency swap will strengthen the naira and help reduce the strong demand for the US dollar in the country. President Muhammadu Buhari last week travelled with a […]

A lot have been made of President Buhari’s trip to China. Politicians from both major parties have either praised the achievements of the president while his opponents are focusing their criticisms on the weakness of the deal. We will dissect both of those at a later date but let’s separate fact from fiction and highlight […]

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 […]