Forex Reserves Drop To $35.63bn, Lowest In Two Months         The nation’s foreign exchange reserves have fallen to the lowest level in more than two months, the latest data from the Central Bank of Nigeria have shown. As of November 10, the forex reserves stood at $35.63bn,...

Naira May Depreciate To 475/$, Says Rewane         The naira will weaken in the parallel market as oil prices stay at $40-$42 per barrel and likely depreciate to 470-475 against the dollar in November and December, the Managing Director/Chief Executive Officer, Mr Bismarck Rewane, has said. Rewane...

Report Predicts $17bn Decline In Nigerian Oil Revenue   Nigeria’s oil revenue is likely to decline by between 70 per cent and 80 per cent this year, representing between $15 billion and $17 billion, the Chief Executive Officer of Financial Derivatives Company Limited and a member...

Again, IMF Cautions Nigeria Against Rising Debts   The IMF Senior Resident Representative and Mission Chief for Nigeria, Mr Amine Mati, has said that Nigeria’s debt to gross domestic product ratio at 28 per cent has increased but is still below the average sub-Saharan Africa and...

Problem Looms For Nigeria As Oil Price Plunges   The international oil benchmark, Brent crude, has fallen to its lowest level this year and below the proposed benchmark for Nigeria’s 2019 budget, with economic experts describing the development as a cause for concern for the country. Brent,...