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BUSINESS NEWS
Business and Economic News from Nigeria
The United States is facing a national crisis with the most significant number of coronavirus cases globally, the worst unemployment levels seen in decades, and massive crowd protests from state to state by their citizens.
The local currency strengthened by N0.83 against the dollar, when compared to the N386.33 to a dollar that is exchanged on Friday, May 29, 2020.
The 2 marginal fields–the Ororo field, known as OML 95, and the Dawes Island marginal oil field, formerly called OML 54–were among 11 oil licenses that were revoked by the Department of Petroleum Resources (DPR) in April.
Equity investors on Nigeria’s bourse gained N25.1 billion as market capitalization appreciated by the same margin to close at N12.48 trillion.
This is naira's first major gain against the dollar since late March.
“After a review of prevailing market fundamentals in the month of May and considering marketers realistic operating costs as much as practicable, we wish to advise of a new PMS guiding pump price..."
“This award is a clear demonstration of the bank’s market leadership, occasioned by our superior product offerings, best-in-class service and top-of-the-range technology which create value for our teeming customers.” –Ebenezer Onyeagwu
U.S dollar dropped on Monday morning as global investors and currency traders got more optimistic about the global economic recovery
OPEC+ agreed in April to reduce output by an unprecedented 9.7 million barrels per day in May and June after the deadly COVID-19 pandemic weakened demand.
“There is a new reality that has enveloped the whole world and Nigeria is not immune to these changes. These are very uncertain times and our intention is to provide clarity." –Coronation Merchant Bank
The local farmer groups in Lagos states and other nearby states will also be integrated into the mill operations when it commences.
The videos and pictures of the purported circulation of the N2,000 and N5,000 banknotes as false, a piece of fake news that is being pushed out to the members of the public and asked them to disregard the falsehood.