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BUSINESS NEWS
Business and Economic News from Nigeria
The WEF in its latest report has advised developing economies and Sub Saharan Africa (SSA) against increasing their external debt burden.
Interswitch Group has announced its partnership with Kenya’s Credit Bank to launch a multi-currency prepaid card.
Latest NBS report indicates that the average price per litre of Kerosene in Nigeria increased by 0.13% in November.
Opening of the land borders is a welcome development as it will positively influence the prices of goods in the short to medium term.
The latest report released by the NBS has shown that the average price for refilling a cylinder of cooking gas decreased in November.
A final decision on the long-running graft case could be reached by the end of March 2021.
The global vaccine storage and packaging market size is expected to grow at a compound annual growth rate (CAGR) of 10.0% from 2020 to 2027.
Nigeria’s private sector credit to GDP ratio rose to 13.5% as of the third quarter of 2020
Brent crude futures gained 0.92% to $51.55/barrel and West Texas Intermediate futures soared by 1% to trade at $48.30.
At the time of writing this report, Gold futures gained 0.51% at $1,871/ounce.
At the time of writing, XRP traded at $0.57077 gaining 20.12% on the day, its largest daily percentage gain seen since 2017.
The Naira’s exchange rate at the NAFEX window depreciated against the dollar to close at N394.67/$1.