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NNPC Has Completed 539km Gas Pipelines

NNPC Has Completed 539km Gas Pipelines

The Nigerian National Petroleum Corporation (NNPC) said on Tuesday that it had so far completed 500 kilometres of gas pipelines between 2010 to date as part of measures to expand gas pipeline infrastructure across the country. The Group Managing Director, NNPC, Dr. Maikanti Baru, stated this in Abuja at the 2017 Conference and Annual General Meeting […]

Importers Frustrating FG’s Tomato Policy – Stakeholders

Importers Frustrating FG’s Tomato Policy – Stakeholders

Stakeholders in the agriculture sector say Nigeria is yet to feel the impact of the tomato policy six months after it was put in place by the Federal Government. The News Agency of Nigeria (NAN) reports that the stakeholders told participants at Agra Innovate West Africa forum on Tuesday in Lagos that Nigerians were yet […]

Profit Taking: NSE Market Capitalisation Drops By N67bn

Profit Taking: NSE Market Capitalisation Drops By N67bn

All-Share Index lost 192.53 points or 0.52 per cent to close at 36,600.07 compared to 36,792.60 on Monday Transactions on the nation’s bourse ended on a downward trend on Tuesday with major blue chips posting price losses. The News Agency of Nigeria reports that the Nigerian Stock Exchange market capitalisation due to profit taking dropped […]

CBN Retains Interest Rate At 14%

CBN Retains Interest Rate At 14%

The monetary policy committee (MPC) of the Central Bank of Nigeria (CBN) has retained the monetary policy rate at 14 percent. The apex bank also left the cash reserve ratio (CRR) at 22.5 percent. Godwin Emefiele, governor of the CBN, made this known on Tuesday while announcing the decision of the committee in Abuja. Emefiele […]

Naira Sells N362.5 per Dollar At Parallel Market

Naira Sells N362.5 per Dollar At Parallel Market

The Naira on Tuesday traded at N362.5 to the U.S. dollar at the parallel market. Meanwhile, the Pound Sterling and the Euro closed at N476 and N426 respectively. At the Bureau De Change window, the Naira flattened at N362 to the dollar, while the Pound Sterling and the Euro closed at N476 and N426 respectively. […]

FG Presents Revised MTEF/FSP To Senate

FG Presents Revised MTEF/FSP To Senate

The Federal Government said it has presented a revised 2018 to 2020 Medium Term Expenditure Framework and Fiscal Strategy Paper (FSP) to the Senate for consideration. The government specifically adjusted the Gross Domestic Product (GDP) growth rate from 4.5 per cent to 3.5 per cent. Minister of State for Budget and National Planning, Zainab Ahmed, […]

9mobile To Get New Investor By Year-end

9mobile To Get New Investor By Year-end

The Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, on Tuesday said that the intervention of the apex bank and the Nigerian Communications Commission in the 9mobile loan repayment saga, was due to the systemic importance of the company. He stated this while responding to questions from journalists shortly after the two-day Monetary Policy […]

Reps Query Bid To Spend $1.8 Billion On Refineries

Reps Query Bid To Spend $1.8 Billion On Refineries

Nigeria’s refineries had the worst performance record in Africa The House of Representatives on Tuesday queried the viability of further expenditure on the country’s four refineries and the daily allocation of 445,000 barrels of crude to the facilities. It queried a fresh bid by the Nigerian National Petroleum Corporation to spend $1.8bn on the Turn […]

Factors To Watch On African Markets – Nov. 21

Factors To Watch On African Markets – Nov. 21

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday. *NIGERIA – Central bank holds monetary policy meeting – 1330 GMT. *SOUTH AFRICA – Reserve Bank starts three-day monetary policy committee meeting (to November 23). *ZIMBABWE – ZANU-PF to launch impeachment motion against Mugabe. […]

Gold Prices Down as Dollar Rises

Gold Prices Down as Dollar Rises

Gold prices fell on Monday as the dollar recovered. Gold for December delivery declined 1.6% to $1,275.30 a troy ounce on the Comex division of the New York Mercantile Exchange. After its best day since May Friday, the precious metal closed at its highest level in a month with the dollar falling. However, the dollar bounced back […]

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