Subsidy payments, summer travels, students’ exodus worsen naira depreciation — Investigation
By Babajide Komolafe, Economy Editor The burden of under-recovery for fuel subsidy cost borne by the Nigeria National Petroleum Corporation, NNPC, Limited, and hence its inability to remit into the federation account, is a major factor worsening the prevailing acute scarcity of the dollar driving the continued depreciation of the naira. Other factors include increased forex […]
SEC sets 7-year timeline to revive, develop commodities market
THE Securities and Exchange Commission, SEC, and other stakeholders in the commodities ecosystem have set a seven year timeline to revive the commodities market in Nigeria through the Nigerian Commodity Exchange, NCX, and set it at par with other commodity exchanges in other parts of the world. The restructuring will be concluded in 2025.
Oil price instability to persist as main grade drops 2.5%
Price of crude oil in the international market recorded another reversal, the third within a space of one week as the prices change with little or no fundamental changes in the determinants.
CBN to introduce tougher capital requirements for banks
The Central Bank of Nigeria (CBN) said it will introduce new capital requirements for banks in the second quarter of 2019, a move that threatens to heap pressure on lenders already weighed down by bad loans.
Analysts see bleak outlook for equities, as resurgence of gain continues
After recording a tumultuous year owing to various factors, particularly pre-election jitters in Nigeria and trade tension between US and China, the equities market is set to continue first quarter of 2019 in a similar vein, investment experts have said.
CBN cautions FG on external borrowing
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) yesterday cautioned the federal government on the sharp increase in the size of the nation’s external debt which rose by 109 percent to $21.6 billion as at September 30th 2018, from $11.28 billion on June 30th, 2015.
