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Farooq

Posts Tagged "Nigeria"

HomePosts Tagged "Nigeria"

ABUJA, July 23 (Reuters) – Nigeria released a photograph of President Muhammadu Buhari on Sunday, the first in almost three months after he left the country on May 7 for medical leave in Britain. In stark contrast to his first absence, when numerous photos of a notably skeletal leader were published, the presidency had released […]

Obinna Chima The aggregate foreign exchange (forex) inflow into the Nigerian economy in the first quarter of 2017 has been estimated at US$15 billion. This, however, represented a decline of 9.2 per cent below the level in the fourth quarter of 2016, but showed an increase of 1.4 per cent over the level at the […]

  • Kachikwu

Minister of State for Petroleum Resources, Emmanuel Ibe Kachikwu, has explained why some investors find it difficult to invest in Nigeria. Kachikwu hinged their fears on security concerns and other issues in Nigeria. Kachikwu, who spoke at the 6th Sustainability in the Extractive Industries Conference organised by CSR-in-Action on Wednesday in Abuja, observed that although […]

Everest Amaefule, Abuja Nigeria total debt rose by N4.76tn in 2016, the Debt Management Office has disclosed. The DMO disclosed this in its 2016 Annual Report and Statement of Accounts obtained by our correspondent in Abuja on Wednesday. According to the office, Nigeria’s debt as of December 2016 stood at N17.36tn, up from N12.6tn a […]

* U.S. weekly crude, gasoline and distillate stocks fell -EIA * U.S. inventory declines bigger than expected * Crack spread hits highest since November 2016 (Adds closing prices, quote) By Scott DiSavino NEW YORK, July 19 (Reuters) – Oil prices jumped almost 2 percent to a six-week high on Wednesday after a U.S. report showed […]

Nigeria’s journey out of recession is on course although at snail speed. This hope has been boosted by the further drop in inflation rate, fifth in a row, as at June 30, 2017. The year, which opened at 18.72 per cent inflation rate, contracted to 16.10 per cent by the ending of last month.The slow […]

By Paul Carsten and Felix Onuah ABUJA, July 14 (Reuters) – Nigeria’s 2017 budget, signed into law by the acting president a month ago, has still not been finalised and is being amended due to disagreements between parliament and the presidency, two sources familiar with the matter said. Any delays to government spending could hobble […]

Ecobank Nigeria thursday announced an increase in the daily spending limit on its naira denominated MasterCard for international transactions from $100 to $1000 for its platinum card customers for online transactions. It also set $750 and $300 limits for its gold and standard card holders respectively. In Addition to that, the bank said it also […]

  • CBN

Ibrahim Shuaibu in Kano The Central Bank of Nigeria (CBN) has warned Nigerians to desist from unwholesome financial engagements in all Ponzi schemes. It also revealed that investors in such schemes lost the sum N11.9 billion as at December last year. The acting Director, Corporate Communications Department of the CBN, Mr. Isaac Okorafor, said this […]

ABUJA, July 13 (Reuters) – Nigeria will continue to borrow to fund its budget for 2017, the finance ministry said in a statement on Thursday, after the finance minister said on Tuesday Africa’s largest economy “cannot borrow anymore”. Finance Minister Kemi Adeosun’s comments had raised questions about how Nigeria would fund its budget for the […]