Oil Prices Hit 18-month High as Markets Eye Production Cuts
OPEC (ThisDay) — Crude oil prices Tuesday, the first trading day of 2017, hit an 18-month high, buoyed by hopes that a deal between the Organisation of Petroleum Exporting Countries (OPEC) and other exporters to cut production, which kicked in on Sunday, will drain a global supply glut . . .
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Stock Exchange Begins 2017 On Negative Trend
Lagos (TheGuardian) — Transactions on the Nigerian equity market resumed on Tuesday for 2017 on a bearish trend with major blue chips recording price depreciation . . .
Continue reading “The Bear Market Hits Nigerian Stock Exchange As 2017 Begins”
Kano (NAN) — The Dangote Tomato Processing Factory in Kadawa, Kura Local Government Area of Kano State is to resume production in February . . .
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Nigerian-born billionaire, founder of Globacom and Chairman of Conoil is richer now, according to FORBES. Michael Adeniyi Agbolade Ishola Adenuga [(Mike Adenuga Jr.) a business mogul, tycoon and the second richest person in Nigeria and Africa, just got richer in 2016 . . .
Continue reading “Africa’s 2nd Richest MAN, Adenuga, Is The Biggest Gainer In Africa: 2016”
Yahoo’s data breaches unlikely to derail Verizon deal
Bloomberg (TheGuardian) The second major hack of Yahoo! Inc. user accounts is unlikely to derail Verizon Communications Inc.’s $4.83 billion acquisition of the tech giant, with investors and the public becoming inured to near-daily disclosures of cyberattacks . . .
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Fears as Naira weakens to N490/$, 590/£
Abuja (Daily Trust) – The Naira on Wednesday weakened to N490 to a dollar at the parallel market after appreciating to N485 to a dollar during the Christmas break . . .
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Dangote Lost $4.9 Billion in 2016
Bloomberg Billionaires’ Index (ThisDay) – The President of Dangote Group and Africa’s richest person, Alhaji Aliko Dangote lost $4.9 billion or one-third of his wealth, as the combined effect of falling oil prices and the naira devaluation in June pushed him to the 112th richest person in the world with a net worth of $10.4 billion, the latest Bloomberg Billionaires’ Index released yesterday has revealed . . .
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Vienna, Austria (Leadership) – The Organisation of Petroleum Exporting Countries (OPEC) has set January 1, 2017 as the official start-off date for a deal to cut crude oil output by the Organisation and several non-OPEC producers by almost 1.8 million barrels per day (bpd). In the wake of the cut-off deal, the oil price edged further above $55 a barrel yesterday . . .
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Africa’s richest man of Nigerian birth, Aliko Dangote, has expressed optimism in the rapid economic recovery for Nigeria saying that despite the recessive economy and downturn in economic activities, Nigeria will come out of it stronger as a self-reliant economic power house . . .
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Niger Delta Militants: ‘Come Let’s Talk’ – President Buhari
SOUTH-SOUTH COORDINATOR BUHARI VANGUARD HON. ROMEO BEKEYEI, COMMENDS PRESIDENT MUHAMMADU BUHARI’S UTMOST SINCERITY IN DEALING WITH THE ISSUE OF NIGER-DELTA RESTIVENESS . . .
Continue reading “Romeo Bekeyei Commends Pres. Buhari’s Sincerity In Dealing With Niger Delta Restiveness”