Business

With the prices of crude on the global market going south, Nigerians could see a reduction in fuel pump price if the situation persists, Blueprint has gathered. After seven consecutive weeks of gains, global crude oil prices fell recently, after China reported weak economic data. A review of global crude oil prices on Tuesday, revealed that China’s weak economic activity …

The Naira exchanged for N773.42 to the dollar at the Investors and Exporters window on Wednesday. This indicated that the Nigerian currency depreciated by 0.35 percent compared with N770.72 to dollar recorded at the investors and exporters window on Tuesday. The open indicative rate closed at N781.49 to the dollar on Wednesday.READ ALSO: NNPC secures $3bn Afreximbank loan to strengthen …

The Nigeria Labour Congress (NLC), on Sunday, alleged that the love for foreign goods by government official is the major reason for the continous decline of the Nigerian currency, naira against the dollar and other major foreign currencies. While lamenting the devastating impact of the forex crisis on the economy, labour congress demanded urgent stabilisation of the naira. The NLC …

The equity capitalization in the Nigerian capital market crashed by 1.38 percent at the close of trading on Friday. This represented a N518.08 billion dip in the value of investments at the capital market from N37.36 trillion to N36.84 trillion at the close of the day’s business. Similarly, the All-Share Index dipped by 946.55 basis points to close at 67,324.59, …

Minister of State for Petroleum Resources (Oil) Senator Heineken Lokpobiri has revealed that the ongoing quick-fix project at the Kaduna Refinery and Petrochemicals Company Limited, KRPC, will be back on stream by the end of 2024. The Minister disclosed this during an inspection tour of Kaduna Refinery & Petrochemicals while assessing the progress of work on the ongoing quick-fix project …

The National Insurance Commission (NAICOM) has taken the campaign for compulsory insurances to the Nasarawa State Government, ahead of its National Insurance conference, scheduled for October, 2023. A statement from the Commission said the Commissioner for Insurance  Mr.Olorundare Sunday Thomas led a delegation from NAICOM on a courtesy visit on the Executive Governor of Nasarawa State,  Engr. Abdullahi A. Sule …

Nigerian stock market capitalisation grew to N35.84 trillion on Tuesday, rising by N157.58 billion from the previous day’s N35.68 trillion. The All-Share Index rose by 286.26 basis points to 65,488.67 ASI, from 65,202.41 ASI. On the exchange floor, 293.46 million shares were traded in 5,895 deals on Tuesday, worth N4.12 billion, surpassing the 231.59 million shares, valued at N3.99 billion, …

The BRICS nations; Brazil, Russia, India, China and South Africa, have agreed to reduce their reliance on the dollar in loan advances to their members. This was disclosed by the President of the New Development Bank (NDB), better known as the BRICS Development Bank, Dilma Rousseff, on Tuesday. Rousseff said the 30 per cent of loan disbursed by the bank …

The money supply in Nigeria increased to N64.9 trillion in July 2023, the money and credit statistics report obtained from the Central Bank of Nigeria (CBN) on Tuesday showed. According to the report, the money supply rose by N600 billion or 0.93 per cent from the N64.3 trillion recorded in June of the same year. Although this falls short of …

The World Bank said Nigeria accounted for the highest remittance flow into Sub-Saharan Africa in 2022, as the continent recorded an estimated $52.9 billion. According to a report titled; ‘Remittances Remain Resilient But Are Slowing’, which covered 2022, and obtained on Wednesday, it was disclosed that Nigeria accounted for $20.1 billion. This represents 38 per cent of the total remittance …