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Farooq

Posts Tagged "Nigeria"

HomePosts Tagged "Nigeria"

ABUJA and LAGOS (Bloomberg) — Nigeria’s economic growth accelerated in the third quarter as oil output rose to the highest since the start of last year. The gross domestic product of Africa’s largest crude producer expanded 1.4% in the three months through September from a year earlier, compared with a revised 0.7% in the second […]

  • gas opportunities

LAGOS (Reuters) – Nigeria plans to raise 710 billion naira ($2.26 bln) via restructuring its equity in joint venture oil assets and increasing private sector participation, the Debt Management Office (DMO) said on Thursday. Oil companies including Royal Dutch Shell, Chevron and ExxonMobil, operate in Nigeria through joint ventures with NNPC. The government has considered […]

* Nigeria revises 2017 growth projection to 1.5 pct from 2.19 pct * Draft budget document sees oil production at 2.3 mbpd in 2018 * Document sees up to 30 pct of 2018 spending on capital projects * Raising taxes on luxury goods to 15 pct by 2018 being considered (Adds details, analyst comments, bullet […]

The National Bureau of Statistics (NBS) says Nigeria has realised more than N118tn from crude production and refining from 1961. The NBS report, which has additional data from the Nigerian National Petroleum Corporation, collated its statistics from 1961 till 2014. “The petroleum statistics on crude oil production and oil refining reflects that a total 32.70 […]

ABUJA (Reuters) – Nigeria plans to release 100 billion naira for capital projects, taking its total spending in the 2017 budget for infrastructure to 440.9 billion naira ($1.44 bln) by next week, its finance minister said on Tuesday. Kemi Adeosun said the government had spent 1.5 trillion naira on recurrent expenditure so far. “We concluded […]

  • CBN

LAGOS, Sept 19 (Reuters) – Nigeria plans to auction 135 billion naira ($442 million) in bonds next week, the Debt Management Office said on Tuesday. The debt office plans to sell 35 billion naira of bonds due in 2021 and 50 billion naira each of bonds due in 2027 and in 2037, using a Dutch […]

Obinna Chima One of the leading financial advisory firms in the world, UBS Wealth Management’s Chief Investment Office (CIO), has predicted that the Gross Domestic Product (GDP) of some economies in Africa, such as Egypt, Kenya and Nigeria, can comfortably grow at five per cent or more in the years ahead. The firm stated this […]

  • dollar to naira

Nigeria’s sovereign wealth fund stood at $2 billion this month with the investment agency seeking further growth through agriculture and the addition of asset management, its chief executive officer said. The government’s contribution stands at $1.5 billion, with the rest including funds owned by the institution and those managed for several government agencies, Uche Orji […]

By Paul Carsten ABUJA, Sept 5 (Reuters) – Nigeria moved out of recession in the second quarter but the pace of growth was slow despite higher earnings from oil, suggesting Africa’s largest economy remains fragile and dependent on its dominant export. Growth was 0.55 percent year-on-year, the statistics office said on Tuesday, while OPEC data […]

Femi Asu The joint ministerial monitoring committee for the Organisation of Petroleum Exporting Countries and non-OPEC oil producers participating in the production cut deal has said it will invite representatives from Nigeria and Libya to its next meeting in September to explain their production outlooks. The deal, which began on January 1 and called on […]