Tag: Market

IPOB’s Sit-At-Home: Any market closed will be sealed — Abia govt

Abia state government has warned traders in the state not to obey the Monday sit-at-home directive by the proscribed Indigenous People of Biafra (IPOB). According to a statement made available to newsmen, the state Commissioner for Information, Chief John Okiyi Kalu, said; “Any market that is closed or transport union[Read More…]

Foodstuff, Cattle dealers insist strike will continue

Leaders of Cattle and Foodstuff Dealers under the aegis of the Amalgamated Union of Foodstuff and Cattle Dealers of Nigeria, have vowed to continue with the strike they have embarked on until their demands are met. The union had demanded the payment of N475 billion compensation, for the lives of[Read More…]

US benchmark crude oil price collapses to $0.01/barrel

The US benchmark crude oil price collapsed on Monday, falling to one cent a barrel amid an epic supply glut caused largely by the coronavirus pandemic’s hit to demand. After beating the record low multiple times, West Texas Intermediate (WTI) for May delivery continued to sink to the unheard of[Read More…]

Fire razes Osun Central Market

An early morning fire on Tuesday razed part of Atakumosa Central Market, Adeti, Ilesha and destroyed goods worth millions of naira. Punch Newspaper reports that the inferno which started around 1 am affected several shops located at the entrance of the market but was later subdued through the combined efforts[Read More…]

Inflation Drops By 0.52 % In March But Food Prices Stay Up

The National Bureau of Statistics on Thursday, revealed that inflation dropped by 0.52 percent in March, the second decline recorded on the year- on- year basis. The first time inflation decline was in February when inflation dropped by 0.94 per cent. In its latest Consumer Price Index for March released[Read More…]

Under Buhar’s Reign, Nigeria to Lose Crown as Africa’s Largest Economy – Financial Times

In April 2014, Nigeria proudly declared that, as a result of a statistical revision, its economic output in 2013 had hit $509bn, almost twice as high as previously thought. With South Africa’s gross domestic product coming in at just $372bn, Nigeria had taken pole position as Africa’s largest economy. A[Read More…]

Naira Rebounds Against US Dollar, Now N490 To The $

The Naira on Monday appreciated at the parallel market after about two weeks of posting losses. The currency gained 3 points to exchange at N490, from N493 it posted last Friday, while the Pound Sterling and the Euro traded at N600 and N506, respectively. At the Bureau De Change (BDC)[Read More…]

Oil Price Returns To $50 Per Barrel

Global oil benchmark, Brent crude, extended its rally on Sunday to hit the $50 per barrel mark, the third time this year. Oil prices have been on an uptrend since the Organisation of Petroleum Exporting Countries decided to cut output for the first time in eight years. Brent, against which[Read More…]

Ram Sellers Lament Low Patronage Ahead of Eid -el- Kabir

Ram sellers in Kaduna on Monday expressed regrets about the low sale they had recorded, barely a week to the Eid-el-Kabir festival. Many ram selling points which include Zango, Bachama road and Rigasa markets in Kaduna metropolis saw the presence of many rams that remain unsold for days. Alhaji Rabo[Read More…]

The Nigerian Naira Now 507 To £1

The naira weakened further against pound sterling as it exchanged at N507 to the pound from N500 it traded on Friday, while the dollar traded at N350, maintaining its value since Friday. The naira exchanged for N385 to the Euro. Pending the implementation of the flexible exchange rate policy by[Read More…]