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Goldman Lifts 2020 Oil Forecasts as OPEC Cuts Tighten Market

(Bloomberg) — Goldman Sachs (NYSE:GS) raises 2020 Brent spot price to $63/bbl from $60 previously, according to emailed report. Long-term anchor price still seen at $55/bbl. Bank now forecasts WTI spot price at $58.50/bbl with long-term anchor price at $50 Goldman updates forecasts after OPEC+ agreed to bigger output cuts than expected OPEC’s Oil Surprise Came as […]

Nigeria: We’ll Jumpstart Kwara Economy With Infrastructure Development – Governor Abdulrazaq

Ilorin — Kwara State Governor, Alhaji AbdulRahman AbdulRazaq has assured the people of the state that his administration will jumpstart the state’s economy with infrastructure development, especially by providing roads and other basic amenities. Abdulrasaq, disclosed this at the annual Ganni Festival in Gwanara in Baruten local government area of the state held recently. He […]

Ghana Inflation Rate Jumps to Four-Month High

Ghana’s inflation rate rose to the highest level in four months in November as the cedi continued to weaken. Annual inflation quickened to 8.2% in from 7.7% in October, Government Statistician Samuel Kobina Annim told reporters in the capital, Accra, on Wednesday. The median estimate of three economists in a Bloomberg survey was 7.6%. Prices […]

AfDB approves $210 million loan for this West African nation’s power transmission project

LAGOS, Nov 30 (Reuters) – The African Development Bank (AfDB) has approved a $210 million loan to help Nigeria upgrade its dilapidated electricity transmission and distribution network. The loan to Transmission Company of Nigeria (TCN) will support construction of 330KV double circuit quad transmission lines and sub-stations across the country, the bank said in a […]

Nigeria: External, Domestic Risks Threaten Nigeria’s Economic Growth – World Bank

The World Bank has said though Nigeria’s economy is projected to grow up to 2021, the growths are vulnerable to internal and external shocks. The economy is recovering gradually from the 2016 recession, with growth projected to pick up from 1.9 percent in 2018 to 2 percent in 2019 and 2.1 percent in 2020-21, World […]

Nigeria: Court Orders Seizure of Emirates Aircraft Over Judgment Debt

A Federal High Court sitting in Lagos has ordered the siezure of an aircraft belonging to Emirates Airline over N8.1 million judgment debt. The order was sequel to a motion filed by Dr Charles Mekwunye seeking for the enforcement of a Supreme Court judgment in a suit between Promise Mekwunye and the airline. Granting the […]

Uproar in ECOWAS parliament over Nigeria’s border closure

There was uproar on the floor of ECOWAS parliament, yesterday, over Nigeria’s border closure policy as Nigeria hinged its decision on failure of Benin Republic to implement agreements. With Ghana and The Gambia insisting that they were implementing all bilateral agreements and urging Nigeria to re-open the borders, the Federal Government said the borders would […]

Nigeria, Netherlands Vow Stronger Partnerships On Trade, Investments

President Muhammadu Buhari and Prime Minister Mark Rutte have agreed that Nigeria and the Netherlands would continue to work together to improve bilateral trade volumes as well as private sector investments after a meeting in Abuja to discuss bilateral relations. The two leaders, in a communiqué issued at the end of the meeting, reviewed the […]

Nigerian Capital Importation Dropped By 7.78% in Q3 2019

The total value of capital importation into Nigeria in Q3 of 2019 stood at $5,367.56 million. This represents a decrease of 7.78% compared to Q2 2019 and 87.99% increase compared to the third quarter of 2018. Latest report released by the Nigerian Bureau of Statistics, NBS on Monday shows that the largest amount of capital […]

Nigeria: Enyimba Economic City – U.S.$430 Million, 700,000 Jobs Coming to Abia

The game is changing in Abia State, thanks to a man of vision, Dr. Okezie Ikpeazu and the support of the federal government of Nigeria. Enyimba Economic City (EEC) was among 52 investment deals that sailed through at the recently concluded Africa Investment Forum (AIF) held in Johannesburg, South Africa. Consequently, Abia State Governor, Dr. […]

Nigerian Entrepreneur Gets Over N90m Support From Jack Ma Foundation

A Nigerian entrepreneur, Temie Giwa- Tubosun yesterday pipped nine other African entrepreneurs to land Jack Ma’s $250,000 (over N90m) prize money for innovation in business Temie-Giwa is the Founder and CEO of LifeBank, a medical distribution company which makes distribution of blood to people in dire crisis easier and faster, through technological means. The Nigerian […]

Ghana to Seal U.S.$600 Million Cocoa Loan

Ghana’s cocoa regulator will this week finalise a $600 million loan to finance new warehouses, rehabilitate plantations and support the processing sector, officials said on Monday. Under the deal, the world’s number two cocoa producer, Ghana sought $250 million from development finance institutions led by the African Development Bank (AfDB), while Credit Suisse Group AG […]

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