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Saturday, October 1, 2022

Nigerian Stocks Fall to Six-Month Low on Oil Price Slump

Nigerian stocks fell to their lowest level in six months to trade near a bear market on concern that oil prices near a six-year...

Nigeria to Produce 1.5m Tonnes of Wheat by 2017 Ahead of Import Cuts

Nigeria's Lake Chad Research Institute has disclosed plans to boost its wheat output and cut imports by half by 2017 as farmers ramp up...

MTN is Finding it Difficult to Repay its Loans to Nigerian Banks over Dollar Shortage

Telecommunications giant, MTN Group Ltd., may be having some difficulty repaying about $500 million of debt held in Nigeria, after it said that it...

Nigeria to Boost Power Generation with World Bank’s $237 Million Debt Financing Agreement

Nigeria moved closer to finishing a plant expected to boost the country’s power generation by almost 10 percent when it signed a financing agreement...

BREAKING: Central Bank to Battle Speculators Betting on Naira Devaluation

The Central Bank of Nigeria has vowed to fight off speculators taking bets that the naira will be devalued after Kazakhstan became the latest...

Oil Prices Head for Longest Weekly Fall As Excess Supply Continues

The price of oil is headed for the longest run of weekly declines since January amid signs the global glut that’s driven prices to...

Commodities Trader, Gunvor Group, to Acquire Assets of Afren Oil

Global commodities trader, Gunvor Group Ltd., is interested in acquiring the African assets of insolvent oil explorer Afren Plc. Gunvor has until Aug. 17 to...

Coca Cola Records High Sales In Nigeria, While It Struggles In Russia

Shares in Coca-Cola HBC AG surged after the second-largest bottler of Coke products said strong sales in Nigeria, Romania and Ukraine were more than...

BREAKING: NNPC Boss to Audit Accounts, Review Contracts

Managing Director of the Nigerian National Petroleum Corp., Emmanuel Kachikwu, has announced that he would conduct a forensic audit into the opaque accounts of...

BREAKING: Ford to Begin Production of Nigeria-Made Cars This Year

The federal government's auto policy is beginning to yield more dividends as more car makers are establishing vehicle assembly plants in the country. The...

BREAKING: Nigerian Companies, 14 Others Shortlisted for Uganda’s Oil Block Licences

Uganda shortlisted two Nigerian companies and 14 others for participation in its first round of oil exploration licenses after it lifted a permitting moratorium...

BREAKING: President Buhari Appoints ExxonMobil Boss As New NNPC GMD

President Muhammadu Buhari has appointed Dr. Emmanuel Ibe Kachikwu as the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC). Dr. Kachikwu, who was the Executive...

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