United States rate hike may put Nigeria, others under pressure

The U.S. Federal Reserves decision to hike rates from 1.0 percent to 1.25 percent as announced by its chair, Janet Yellen, on Wednesday could put emerging economies, including Nigeria, under pressure, as the decision would redirect investment flows to the U.S. at their expense. The Fed’s rates hike is expected to redirect investments to the […]

Inflationary trend not positive yet as food prices rise 19% in May

The rise of the cost of food continued unabated in May even as inflation dropped for the fourth consecutive month to 16.25 percent. Data released by the National Bureau of statistics Thursday showed that the country’s  food index increased by 19.27 percent (year-on-year) in May 2017, down by 0.03 percent points from the rate recorded […]

Customs funds withdrawal wont impact much on banks – treasurers

Nigerian bank treasurers Wednesday told businessamlive that the were not expecting any major impact from the Federal Government directive to money deposit banks to immediately remit all revenues collected on behalf of the Nigerian Customs Services to the Central Bank of Nigeria (CBN) treasury single account (TSA). However, money market analysts say the removal of […]

Nigeria set to lead global growth in entertainment, media market over the next five years– PwC Report

Nigeria has been projected to become the world’s fastest-growing entertainment and media market in the next five years, according to a report by professional advisory firm, PwC. The report shows that Nigeria with a compound annual growth rate (CAGR) of 12.1%, strongly influenced by surging spending on mobile Internet access, will be the world’s fastest-growing […]

Nigeria interbank offer rate peaks at 126.7% as liquidity crunch hits banks

Liquidity pressures are mounting in Nigerian banks as the Nigeria Interbank Offered Rate (NIBOR) for overnight loans, the benchmark for determining interest rate payments between financial institutions, rose 46 percent from 86.29 percent last week to 126.69 percent Monday, the highest in recent times, according to bank treasurers spoken to by Businessamlive.com The current market […]

OPEC hopeful on outcome of production cuts, see uptick in demand, price rally

Khalid A. al-Falih, the Saudi energy minister, talked to journalists before an OPEC meeting in Vienna on Thursday 25 May, 2017.

Member countries of OPEC, including Nigeria, which have continued to manipulate the quantity of crude oil pumped into the international market to fight off price decline, are still hopeful that surplus oil inventories will continue to decline in the second half of the year as their production cuts take effect. The OPEC members are also hopeful that demand would […]

Osinbajo rides on Buhari’s endorsement to sign N7.44trn budget  

Acting President Yemi Osinbajo on Monday signed the 2017 appropriation bill into law thus ending a month long speculation on the whether the third force at the Aso Rock, Nigeria’s seat of power would prefer warehousing the budget pending the return of ailing President Muhammadu Buhari. Osinbajo had while appending his signature on the budget, […]