External Reserves Declined By $640m In May – CBN       The country’s external reserves lost $640m in May, falling to $34.24bn on May 28 from $34.88bn as of April 28. Figures obtained from the Central Bank of Nigeria on Tuesday revealed that the reserves had been fluctuating...

Milk Import Gulps N619.5bn Annually     Milk importation into Nigeria gulps N619.5 billion (about $1.5bn) years due to the country’s non self-sufficiency in milk production. Speaking during the a webinar on Nigerian Dairy Industry organised by the Policy Centre of Abuja Chamber of Commerce and Industry (ACCI)...

Oil Price Rises Above $70, OPEC Projects Demand Growth       The international oil price, Brent crude, rose above the $70 per barrel mark on Tuesday, with the Organization of the Petroleum Exporting Countries projecting that demand for the commodity is bound to improve. Brent, against which Nigeria’s...

Investors Stake N2.63bn On Equities       The momentum of activities at the Nigerian equities market increased considerably as investors staked N2.63 billion amid new month’s profit-taking transactions. Total turnover at the Nigerian Exchange (NGX) Limited rose by 39.4 per cent to 274.852 million shares valued at N2.63...

'Nigeria, Others Need $15.7bn To Upgrade Refineries'       African countries will need about $15.7 billion to upgrade existing 36 refineries on the continent to produce petroleum products that will conform with a planned level of sulphur content. African Refiners and Distributors Association (ARDA) disclosed that the $15.7...

Fed Govt Receives 75 Bids For Road Concession     A total of 75 firms have submitted bids to serve as concessionaires for 12 federal roads that are mapped out for concession by the Federal Government. Bid documents submitted by the companies as well as the names of...