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Naira Devaluation Puts Pressure On Costs, Says Nigerian Breweries

Naira Devaluation Puts Pressure On Costs, Says Nigerian Breweries

The Nigerian Breweries Plc said the devaluation of the naira and the nation’s inflation rate are putting pressure on its input costs amid decline in consumers’ purchasing power. The company’s Managing Director/Chief Executive Officer, Mr. Nicolaas Vervelde, who stated this on Tuesday at a media briefing in Lagos, however, described the Nigerian market’s fundamentals as […]

Investors Stake N13.4tn On Currency, Fixed Income Securities

Transactions in fixed income and currency markets for the month of rose by 10.5 per cent as investors committed N13.42 trillion in March, compared with N12.15 trillion recorded in February.  However, the Treasury Bills (T.bills) segment of the market continued to dominate and accounted for 49.5 per cent in February, while Federal Government of Nigeria (FGN) […]

Nigeria Loses $200b For Not Passing PIB

Nigeria Loses $200b For Not Passing PIB

Failure to legislate the proposed reforms in its oil and gas industry, particularly the Petroleum Industry Bill (PIB), has cost Nigeria a whopping $200 billion in investments. Of the amount, the country lost $15 billion yearly in investments withheld or diverted by investors to other countries because of uncertainty as investors do not know which […]

Battle To Recover $15b Gas Sales Dividends Begins

Battle To Recover $15b Gas Sales Dividends Begins

Under investigation by the Economic and Financial Crimes Commission (EFCC) are former Petroleum Resources Minister Diezani Alison-Madueke and some former officials of the Nigerian National Petroleum Corporation (NNPC) and the Nigerian Petroleum Development Company (NPDC), the upstream arm of NNPC in charge of oil exploration and production. Detectives are probing the whereabouts of $15.8billion Nigeria Liquefied […]

Nigerian First-quarter Output Improved, Statistics Shows

Nigerian First-quarter Output Improved, Statistics Shows

From the numbers we are seeing, certainly things are improving, and if the data doesn’t show Nigeria out of recession, it will show Nigeria is on its way out of recession Nigeria’s economy, which contracted in 2016, performed better in the first three months of this year than during the previous three quarters on improved […]

Payment Of $5.1bn Debt Will Unlock $15bn Investments — Ibe Kachikwu

Payment Of $5.1bn Debt Will Unlock $15bn Investments — Ibe Kachikwu

The debt incurred from 2010 to 2015 due to Nigeria’s inability to make its share of capital contributions to the joint ventures, will be settled through crude sales over five years and will be interest-free, Kachikwu said at the time. The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said that the settlement […]

NNPC Did Not Remit $81.2bn In Four Years – Reps Says

NNPC Did Not Remit $81.2bn In Four Years – Reps Says

While the NNPC claimed that 991.4 million barrels and 960.4 million barrels were lifted in May and October, respectively, the DPR reported that there was only one lifting of 960.4 million barrels in October. The House of Representatives believes that the Nigerian National Petroleum Corporation did not remit a total of $81.2bn crude oil proceeds […]

Nigeria Output To Grow By 0.8% In 2017 – IMF

Nigeria Output To Grow By 0.8% In 2017 – IMF

Output in Nigeria is projected to grow by 0.8 percent in 2017 The International Monetary Fund on Tuesday forecast 2.6 percent growth in sub-Saharan Africa this year, aided by a modest recovery in large economies South Africa, Nigeria and Angola. “Growth is projected to rise to 2.6 percent in 2017 and 3.5 percent in 2018, […]

Inflation Rate Will Drop Futher, Financial Experts Predict

Financial experts have expressed optimism that the nation’s inflation figure would continue to slowdown with  enhanced stability in the  foreign exchange market. In interviews with the News Agency of Nigeria (NAN), the experts said the inflation figure would continue to witness downward trend with continuous improvement in the nation’s exchange rate. Prof. Sheriffadeen Tella, Professor […]

The Roles Of Financial Markets In Economic Growth

Financial Market comprises securities exchange, commodities trading, and trade in their respective derivatives. Banking is a financial institution but distinguishable from a financial market based on their roles which are however complementary where corresponding growth exists, and both serve as props for economic sustenance. A lopsided growth in favour of banking practice creates a usurpation […]

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