Tag
BUSINESS NEWS
Business and Economic News from Nigeria
Currency traders are expecting the naira to fall slightly today, due to the maturing $1.52 billion April 29 contract.
More currency flexibility would help to protect dwindling external reserves and avert economic distortions, leaving them to only intervene when there are huge fluctuations.
The rebound of crude oil prices in the oil market continued for the second consecutive day, as oil prices went up on Wednesday.
The outbreak of COVID-19 and the sharp downturn in crude oil prices have continued to stoke fears of a further devaluation in the Naira.
Governor Babajide Sanwo-Olu has rolled out guidelines for businesses operating under the partial lockdown.
The company's cost of sales grew 13.2% y/y to N24.5 billion in Q1 2020, driven by double-digit growth in raw material cost.
A cursory view of the financial statement shows that the company booked N47.5 billion in impairments, as the company decided to revalue its oil and gas assets following the crash in oil prices
In his opening statement. UBA's Group Chairman, Tony O. Elumelu, noted that this was a very special meeting, held in extraordinary circumstances.
The increased profits benefited from the twin effects of continuing top-line growth and focused cost-of-funds optimisation.
Lagos state government has listed out businesses that should remain closed even as the state enters the first phase in the gradual easing of the lockdown, on May 4
The take-off of the Africa Free Trade Zone, which has been referred to as the world’s largest free trade zone, has been delayed.
The IMF wants the CBN to end some of its harshest policies including lifting the forex ban on 41 items.