Rising Oil Price Puts More Pressure on NNPC’s Finances       Crude oil extended its gains at the weekend after closing at a six-week high with signs of strengthening demand in key markets, thereby piling more pressure on the ability of the Nigerian National Petroleum Corporation (NNPC)...

Cocoa Exporters Lament Price Slump       Exporters of cocoa are in a dilemma following continuing price slump in the international market. Cocoa, a key ingredient in chocolate, a luxury food product, has also seen a decline in demand. It is among Nigeria’s leading agricultural exports and constitutes...

Oil Hits Six-week High $68.47 As Dollar Weakens       The international oil benchmark, Brent crude, reached its highest in six weeks on Thursday as strong US economic data, a weak dollar and overall expected recovery in demand outweighed worries about the impact of increased COVID-19 cases...

Oil Falls To $65 As India’s COVID-19 Cases Surge       The global oil benchmark, Brent crude, declined on Monday as the Organisation of the Petroleum Exporting Countries and its allies indicated that it was watching surging COVID-19 cases in India, the world’s third-biggest oil importer. Brent crude,...

Manufacturing Sector Leads $8.41bn Investment Announcements In Q1, 2021       The Nigerian Investment Promotion Commission (NIPC) has reported $8.41 billion new investment announcements in Nigeria in the first quarter of 2021 (Q1 2021), with the manufacturing sector attracting 60 percent, reflecting the gradual return of investors’...

CBN To Sanction BDCs, Banks Rejecting Lower Dollar Bills       Deposit Money Banks (DMBs) and authorised Bureau De Change (BDC) operators who reject old and lower denomination of the United States dollar bills will be sanctioned, the Central Bank of Nigeria (CBN) said yesterday. A circular signed...