OPEC- World Oil Demand to Rise by 1.93 Million Barrels Per Day
OPEC says world oil demand will rise by 1.93 million barrels per day in 2024, down from growth of 2.03 million barrels per day it expected last month. Announcing its forecast cut for global oil demand growth in 2024 in a monthly report, OPEC said China accounted for the bulk of the 2024 downgrade, as […]
Federal Government Issues $500 Million Domestic Dollar Bond
The Federal Government of Nigeria (FGN) has officially issued a $500 million domestic dollar bond, opening for subscription on August 19, 2024. This bond, part of the government’s financing initiatives, will carry a 9.75% per annum interest rate and is set to mature in 2029. The auction for this bond will remain open until August […]
FG To Start Crude Oil Sale To Dangote Refinery in October
The Federal Government has disclosed that sales of crude oil to Dangote Refinery and other local refineries will commence October 1, 2024. The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, made the announcement during a meeting with the Implementation Committee on Monday in Abuja. According to a post on the official […]
Manufacturers peg price of bag of cement at N8,000 with conditions
The Federal Government and major cement manufacturers have pegged the price of 50kg bag of cement at between N7,000 and N8,000 depending on the location nationwide. Sen. David Umahi made this known to newsmen after a protracted meeting with major cement manufacturers in the country on Monday in Abuja. The Cement Manufacturers came to an […]
CBN disburses $61m to foreign airlines to settle mature foreign exchange backlog
The Central Bank of Nigeria (CBN), says it has disbursed 61.64 million dollars to foreign airlines through various Deposit Money Banks (DMBs). According to a statement issued by its Acting Director, Corporate Communications, Mrs Hakama Sidi-Ali in Abuja on Sunday, the disbursement is in fulfilment of CBN’s commitment to eliminate the backlog of pending matured […]
China’s economy enters deflation with July’s consumer prices drop, the first in over two years.
China’s economy has slipped into deflation as consumer prices declined in July for the first time in more than two years. The official consumer price index, a measure of inflation, fell by 0.3% last month from a year earlier. Analysts said this increases pressure on the government to revive demand in the world’s second largest economy. China’s gross domestic […]
The lndependent Petroleum Marketers Association of Nigeria, Ejigbo Satellite Depot, has raised alarm on pipelines vandalism
IPMAN Ejigbo Satellite Depot Chairman, Mr Akin Akinrinade, told the NewsAgency of Nigeria (NAN) on Sunday that some vandals, who were found scoopingpetrol on System 2B pipeline in front of Good Luck Estate, Idimu, abscondedwhile the security agents tried to apprehend them.Akinrinade admitted that the continuous vandalism is a setback to the effort ofIPMAN and […]
