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Oil prices fell by one per cent on Thursday after industry data showed a larger-than-expected build-up in stocks in the United States, although losses were limited by comments by U.S. Treasury Secretary Steven Mnuchin on a U.S.-China trade deal. Global benchmark Brent crude oil futures was down by 57 cents or nearly one per cent […]

Timipre Silva, the minister of state for petroleum,on Thursday assured Nigerians that the federal government has no immediate plans to remove fuel subsidy. The minister made this known while fielding questions from legislators at a joint session of National Assembly Committees overseeing the oil sector. “This government is not about to remove subsidy because it […]

The International Monetary Fund (IMF) has cautioned Nigeria and other African countries against their rising level of indebtedness to China, stressing that the non-Paris Club creditors, “create some instability or some vulnerabilities.” It also said the present global financial conditions due to the trade dispute between the United States and China, the shift towards a […]

Organised labour and the federal government again failed to conclude negotiation over consequential adjustment in workers’ salaries as a result of the new minimum wage of N30,000 despite meeting for about nine hours as labour said that there was no declaration of strike yet. The meeting began after 5:00 p.m. on Wednesday and ended at […]

To avert a nationwide industrial action by the organised labour, the federal government yesterday made a new offer to the workers by shifting ground on its proposal for minimum wage consequential adjustment from 11 per cent to 17 per cent for workers on grade levels 7 to 14, and from 6.5 per cent to 12 […]

Companies that are publicly listed in the capital market have raised a total of N768.7bn capital in the last three years. Data obtained from the Securities and Exchange Commission showed that these firms are listed on the Nigerian Stock Exchange and the NASD OTC Securities Market. An analysis of the data showed that rights issue […]

The International Monetary Fund has advised the Central Bank of Nigeria to unify the country’s exchange rate system in order to avoid situations where public and private sector decisions are distorted due to uncertainties. It also said there was a need for the government to come up with measures to boost the non-oil revenue in […]

The debt of the Asset Management Corporation of Nigeria may rise from the current value of N5tn to a N6.6tn by 2024. Muyiwa Balogun, a legal consultant and senior partner, Olaniwun Ajayi -LP, who said this, noted that AMCON still owed the Central Bank of Nigeria N4.5tn, and was also battling with N1.7tn of Assets […]