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Oil shares lift global stocks, crude dips on doubt over OPEC deal

An agreement by OPEC members to curb output boosted oil company shares on Thursday, lifted the currencies of crude-producing countries, and drove yields on low-risk government debt higher.

 

MTN denies illegal transfer of $14 billion from Nigeria

Why oil prices will rise soon

As the September 26 to 28 “informal” meeting of OPEC producers in Algeria draws near, media speculation could easily cause mental anguish. On oil news websites simultaneous headlines claim OPEC will both fail and succeed in capping output.

Guinness declares loss after tax of N2 billion

Guinness Nigeria on Tuesday, September 20, 2016, announced its first set of results combining sales from both beer as well as International Premium Spirits (IPS) like Johnnie Walker and Baileys.

Venezuela wants oil at $70 per barrel: 'Fat Chance'

Venezuela’s oil minster Eulogio Del Pino said current global oil supplies need to drop at least 10% before supply would match consumption.

Nigeria’s foreign exchange reserves fall below $25b

Nigeria’s foreign exchange reserves have plummeted to a new low of $24.88 billion, indicating dwindling confidence in the economy, despite reassurances by authorities.

Development of housing market key to economic revival — CBN

The development of Nigeria’s housing market is key to growing the economy and the Gross Domestic Product (GDP), Mr. Godwin Emefiele, the governor of Central Bank of Nigeria (CBN), has declared.

Recession: Govt made wrong policy choices —Utomi

A former presidential candidate, Prof Pat Utomi, has said that the current economic crisis would have been avoided by the Federal Government if proper policy choices were made.

He pointed out that the crash in oil prices was not enough to have resulted in recession.

Troubled OPEC: Could Nigeria swing Oil markets?

With oil markets hemorrhaging for more than two-and-a-half years amid the worst oil market in arguably a generation, two weeks ago it appeared that Russia and OPEC de facto leader Saudi Arabia, the world’s top two oil producers, could possibly and finally agree on an oil production cap at a plann

FG to boost economy with $1.1 billion

The Federal Government is set to inject an additional N350 billion ($1.1 billion) into the economy and raise $1 billion from Eurobonds by mid-December to ease the recession.

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