Africa policymakers warn Iran oil shock will hit key sectors, halt monetary easing
African officials have warned that the sharp rise in oil prices due to the conflict in Iran will challenge monetary policymaking and could hit productivity in key sectors like mining,…
Africa-bound India-flagged fuel tanker sets sail from east of Hormuz, Indian official says
The Indian-flagged oil tanker, Jag Prakash, which is carrying gasoline from Oman to Africa, has set sail from east of the Strait of Hormuz, an Indian government official said on…
FX market reforms raise capital inflows by 200% – Cardoso
Mr. Olayemi Cardoso, Governor, Central Bank of Nigeria (CBN), says reforms in Nigeria’s foreign exchange (FX) market have significantly improved liquidity, restored investor confidence and stabilised the Naira. Cardoso said…
Tomato farmers predict gradual price hike post Ramadan
The National Tomato Growers, Processors, and Marketers Association of Nigeria (NATPAN) has predicted the steady increase in the price of the produce post-Ramadan. The NATPAN Kaduna State Chairman, Mr. Rabiu…
CBN and interest rate dynamics, by Arize Nwobu
Interest rate is the cost of money and one of the major macroeconomic variables which determine the dynamics, direction and health of an economy. Other major macroeconomic variables are, exchange…
Maritime Expert Calls for Concession of NIMASA’s N50bn Floating Dockyard to Unlock Economic Value
The Chief Executive Officer of Maritime Media Ltd., Mr. Asu Beks, has called for the concession of the floating dockyard owned by the Nigerian Maritime Administration and Safety Agency (NIMASA)…
Oil gains 9% as Iran says Strait of Hormuz closure to continue
Oil prices rose about 9% on Thursday as Iran stepped up attacks on oil and transport facilities across the Middle East, and the country’s supreme leader said the closure of…
Oil unlikely to hit $200 a barrel, US energy chief says
U.S. Energy Secretary Chris Wright said on Thursday global oil prices are unlikely to hit $200 a barrel even as crude tankers remained stalled in the Strait of Hormuz and…
Nigeria Eyes Gulf Investment to Boost 1.7mbpd Output Amid Global Supply Shocks
…Calls on Gulf oil producers to Partner with Nigeria to Safeguard Global Energy Supply The Middle East conflict shows why Gulf oil and gas producers should regard Nigeria as a…
FG Warns of Potential Hikes in Fuel, Gas, Fertilizer Costs Amid Global Volatility
…Leverages 4.07% GDP Growth to Shield Economy from Middle East Fallout Nigeria’s government is monitoring escalating tensions in the Middle East as it assesses potential risks to the country’s economic…