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Brexit: How will it affect Nigerians?

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THE world lives in dangerous times. The unimaginable and surprises are springing up by the day. At odds with almost all conventional economic thinking the British voted to leave the EU. The entire world was shocked beyond measure. It sent cold wave down the economic spine of global markets. Demonstrators ...

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No benefit in naira devaluation, Buhari insists

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President Muhammadu Buhari on Monday said he did not see any benefit that the country could derive from the devaluation of the naira. This is despite the implementation of the flexible exchange rate policy, which has somehow led to the devaluation of the nation’s currency. Buhari spoke during the breaking ...

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Made in China plane makes first commercial flight

epa05395795 People celebrate the landing of flight EU6679, the first commercial service of ARJ21-700, at Hongqiao airport in Shanghai, China, 28 June 2016. ARJ21-700, the baseline model with a capacity of 70 to 95 passengers, is the first model in China-developed ARJ regional jet family.  EPA/XI LI CHINA OUT

China’s homegrown regional jet made its first commercial flight Tuesday, operator Chengdu Airlines said, after years of delays raised questions about the country’s ambitious plans for domestically-produced planes. Chengdu Airlines flew the ARJ21 from its eponymous home base, the capital of the southwestern province of Sichuan, to the commercial hub ...

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Naira falls to 351/dollar at black market

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The naira fell to 351 to the United States dollar at the parallel market and slightly to 282 at the new interbank market on Monday. Following the floating of the naira and the adoption of a single structure through the interbank/autonomous window, the currency closed last week at 281 to ...

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Oil price slumps to $46 amid Brexit concerns

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Global oil benchmark, Brent crude, traded sharply lower on Monday, extending its declines following Britain’s vote to exit the European Union on Thursday. The dip in the oil price comes as investors were worried about global energy demand and shunned assets perceived as risky in the aftermath of the Brexit ...

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Fuel price hike: Nigerian students back FG

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The National Association of Nigerian Students, NANS, has thrown its weight behind the federal government over the increment of fuel pump price from N86 to N145 per litre. The students’ body said the Nigerian economy was sinking and badly battered, and therefore, incapable of bearing the burden of fuel subsidy. ...

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Beware of fraudulent messages, CBN warns bank customers

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The Central Bank of Nigeria on Thursday warned customers of banks to beware of fraudulent messages demanding for personal information from them. The apex bank in a statement by its Acting Director, Corporate Communications Department, Mr. Isaac Okoroafor, said such messages were intended to lure customers of banks into disclosing ...

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BREAKING: NUPENG, PENGASSAN support petrol price increase

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The two major unions in Nigeria’s oil and gas sector on Friday endorsed the price modulation mechanism adopted by the Federal Government to arrive at the new N145 per litre pump price for premium motor spirit, popularly known as petrol. The unions are the Petroleum and Natural Gas Senior Staff ...

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FG TO INCREASE FUEL PUMP PRICE NEXT MONTH — KACHIKWU

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Amid the lingering fuel scarcity across the nation, Nigerians might still have to pay more for the product as the Federal Government, Tuesday, disclosed that it would review the pump price next month. Speaking during a visit to the Petroleum Products Pricing Regulatory Agency (PPPRA) in Abuja, Minister of State ...

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PDP responsible for fuel scarcity, says Tinubu

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The National Leader of the All Progressives Congress, Asiwaju Bola Tinubu, has asked Nigerians to hold the Peoples Democratic Party responsible for the ongoing fuel scarcity across the country. Speaking to journalists in Lagos on Saturday, Tinubu said the PDP destroyed Nigeria during its 16-year rule. The APC chieftain said ...

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Fuel scarcity likely to end in May –Marketers

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Contrary to the pledge by the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, that lingering fuel scarcity in the country would end on or before Thursday, April 7, marketers and depot owners said on Sunday that consumers might have to endure inadequate supply of the product till May. ...

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