Oil prices down in Asia morning due to firmer U.S. dollar

Oil prices are down again Wednesday morning in Asia, driven by a recovery in the dollar which pulled down fuel demand. Crude Oil WTI Futures futures for April delivery were trading at $61.33 a barrel mid-morning in Asia, down 0.74%. Brent crude futures for April delivery, traded in London, were down 0.31% at $64.84 per […]

DANGCEM drives Nigeria stock index up 0.38% amid sell-offs across sectors

Smattering from a week opening loss, the Nigerian equities market recorded modest gains Tuesday as uptick in Dangote Cement (DANGCEM) and buying interest in some large caps helped push benchmark index up 0.38 percent, despite sell-offs across sectors. The day’s trading session was majorly characterised by sell-offs across sectors. However, buy interest in some large cap […]

Electric vehicle growth could see oil demand peak by 2030 – Fitch

Electric Vehicle (EV) adoption is an increasing threat to oil demand, which could plausibly peak before 2030, Fitch Ratings says in a new report, ‘Batteries Update: Oil Demand Could Peak by 2030′. The report examines the impact of EV adoption on oil prices and the implications for various sectors. “This is not our core scenario, […]

Dangote, CNN renew partnership deal, first African brand to join Great Big Story

By Ademola Badmus… CNN International Commercial (CNNIC) and Dangote Industries Limited (DIL) has renewed their long-term partnership for sponsorship within CNN Marketplace Africa. The deal also includes launching a new brand campaign on CNN TV and Digital, and – in a media-first – integrating Dangote Industries with a video series on cinematic storytelling network Great […]

Oil trades mixed as OPEC’s Barkindo sees global demand grow 1.6m bpd in 2018

(L-R) MK Baru, GMD NNPC group; Mohammed Sanusi Barkindo, OPEC Secretary General; Boss Gida Mustapha, Secretary to the Government Federation and Ibe Kachikwu, Nigeria's minister of state petroleum resources, at the Nigerian Petroleum Summit in Abuja, Monday Feb 19, 2018

Oil prices on both sides of the Atlantic traded in opposite direction on Tuesday, with the US oil (WTI) supported on supply disruption while Brent trades on the back foot amid broad-based US dollar strength after Barkindo Mohammad, OPEC Secretary-General said on Monday that global oil demand for 2018 is estimated to grow 1.6 million barrels […]

Nigerian stocks close in the red as NSEASI goes down 1.5%

The Nigerian equities market closed Monday in the red as benchmark index (NSEASI) fell 1.5 percent to settle at 41,988.18 points while year-to-date (YTD) return moderated to 9.8 percent from the over 13 percent recorded some weeks back The day’s negative performance saw market capitalization paring N233.5 billion to closed at N15.1 trillion on account […]

Analysts expect higher rates in money market instruments this week

Analysts at Afrinvest (West Africa) Ltd., a research and independent investment banking firm, are expecting money market rates to trend slightly higher in this week. The analysts in their preview for last week expect the increase in the money market rate on the back of expected OMO mop-ups and the planned Wednesday DMO bond auction […]

Corporate taxes to increase by 0.5% as competition bill goes for assent

Kemi Adeosun, Nigeria's minister of finance addresses Nigeria's House of Reps members over non-payment of pensioners' entitlements

Corporations and businesses may see their taxes increase by 0.5 percent if assent is given to the Competition and Consumer Protection Bill submitted by the National Assembly to the presidency. business a.m gathered from the Nigeria Employers Consultative Association (NECA) that there is an inclusion of a tax provision of 0.5 percent on companies to […]