Accra, Ghana

GSE Feed

Forex Rate

West Africa

Nigeria: 2017 Budget Will Bring Nigeria Out of Recession – Dogara


Speaker of the House of Representatives, Yakubu Dogara has expressed optimism that the 2017 budget would lead the country out of its current economic recession. Dogara, who said this on Tuesday in his address welcoming members from Christmas holidays also assured that the House will implement reforms to the budget process to make it more transparent and devoid of controversy. ...

Read More »

Nigeria: Dangote Cement, Others Lift Stock Market By 1.25 Percent


The Nigerian Stock Exchange (NSE) All-Share Index (ASI) rose 1.25 per cent yesterday as highly capitalised stocks led by Dangote Cement Plc lifted the market. After depreciating for the first three days in 2017, the market had last Friday rebounded. And when trading resumed for the second week of the year, tuesday, the uptrend was sustained leading to a rise ...

Read More »

Nigeria: Oil Workers Score NNPC’s Boss High


Oil workers say the administration and programmes of the current Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Kacalla Baru, are worker friendly. The workers, under the Group Executive Councils (GECs) of the National Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) rated ...

Read More »

Shell battles Nigerian communities in high-stakes London lawsuit


A court in London will decide in coming weeks whether Royal Dutch Shell can face trial in the UK over oil spill allegations in Nigeria, a decision some legal experts predict could attract more cases against multinationals in Britain. The High Court will judge whether members from two communities, Bille and Ogale in Nigeria’s oil-rich Delta region, can sue the ...

Read More »

Nigeria: Green Shoots Start to Sprout As External Reserves Hit $26.1bn


The accretion of Nigeria’s foreign exchange (forex) reserves, which started about two months ago, continued in the new year, when figures released yesterday by the Central Bank of Nigeria (CBN) showed that reserves had grown to $26.094 billion, signifying a slow but steady improvement in the country’s current account balance. It was also indicative that the drop in militancy in ...

Read More »

Nigeria: Central Bank Sells N173 Billion Treasury Bills At Flat Rate


The Central Bank of Nigeria (CBN) sold N172.85 billion at its first treasury bill sale of the year on Wednesday with yields unchanged from the previous auction, held on December 21, fixed income traders said on Thursday. Reuters quoted traders to have revealed that the central bank sold N115.85 billion of one-year debt at a rate of 18.68 percent, the ...

Read More »

Nigeria resumes payments to former Niger Delta militants: official


Nigeria has resumed payments of cash stipends to former militants agreed under a 2009 amnesty in the country’s Niger Delta oil hub, an official said on Thursday. “Two months of the ex-militants stipends were paid yesterday…The rest of their stipends will be paid later in batches by (central bank) CBN,” said Piriye Kiyaramo, an officer in the Amnesty Office. He ...

Read More »

Nigeria: Recession – Private Jets Ownership Drops By 50 Percent


The number of privately owned jets in Nigeria has shrunk by almost 50 per cent between 2015 and 2016, checks by Daily Trust have shown. Within this period, no fewer than 31 private jets have been de-registered with the aircraft either sold off or returned to their owners abroad. The development, it was gathered, is not unconnected with the economic ...

Read More »

Nigeria Union of Petroleum and Natural Gas Workers plan to shut down Total Nigeria


The Nigeria Union of Petroleum and Natural Gas Workers ordered on Thursday a strike at Total fuel truck depots across the OPEC member nation in protest against sackings. “We have stopped the operation of Total. We are at the table with Total discussing the situation of the workers,” Tokunbo Korodo, union chairman in the southwest of the country, said. – ...

Read More »

Nigeria: Oando, MRS, Rano, 36 Others to Lift Nigerian Crude in 2017


The Nigerian National Petroleum Corporation (NNPC) on Wednesday released names of 39 companies that will be involved in the sale and purchase of Nigerian crude for 2017/2018. Announcing the results on its Website, the Group General Manager, Crude Oil Marketing Division NNPC, Mr Mele Kyari, said the contract would run for one year effective from January 1 for consecutive 12 ...

Read More »
Ghana Business News