Economy

The oil-producing countries will implement a production adjustment of 411,000 barrels a day in June, up from May’s 137,000 barrels. According to the statement obtained by Channels Television, Saudi Arabia, Russia, and six other members of the oil-producing countries will implement a production adjustment of 411,000 barrels a day in …

The United States tops the list with a projected GDP of $30.51 trillion, supported by a diverse economic base spanning services, manufacturing, technology, and finance. Its annual real GDP growth rate stands at 1.8 per cent, with a per capita income of $89,110. China remains the second-largest economy with a …

The naira recorded its highest appreciation against the dollar in both the parallel and official foreign exchange markets, ending the week on a positive note. Exchange data from a Bureau de Change operator in Wuse Zone 4, Abubakar Alhasan, showed that the naira closed at N1,595 per dollar on Friday, …

After a decade and a half of dormancy, there’s renewed hope for the OML-25 oil asset in Rivers State. The facility has transitioned from its original operator, SPDC, to Renaissance Africa Energy, setting the stage for potential resumption of activities. However, this new chapter comes with its own set of …

Do NOT invest if you don’t have a long term focus. Focus on the long game. Today was a PAINFUL day in the markets. This is when I must remember that investing isn’t a sprint; it’s a marathon. It takes time, focus, and attitude. I admit it, I worry too …

Global Markets Plunge as China Retaliates in Escalating Trade War The FTSE 100 suffered a sharp decline after China announced retaliatory tariffs against the U.S., intensifying the global trade war. The UK’s benchmark stock index dropped as much as 3.9%, marking its steepest fall since the outbreak of the Ukraine …

The war on tariffs, who wins? China, Japan and South Korea agreed to jointly respond to U.S. tariffs, a social media account affiliated with Chinese state media said on Monday, an assertion Seoul called “somewhat exaggerated”, while Tokyo said there was no such discussion. The state media comments came after …

The Federal Government of Nigeria has approved the construction of three new refineries to address its local demand for refined petroleum. The report states that the three licensed refineries will add approximately 140,000 barrels per day to the existing production, raising the total expected output to 880,000 barrels per day. …

Nigerian Senate Moves To Ban Dollar Salaries, Foreign Currency Transactions Nigeria’s Senate is moving to ban the use of the dollar and other foreign currencies for local transactions, with the introduction of a new bill. The proposed legislation, titled “A Bill for an Act to Alter the Central Bank of …

UBA Group to Commence Full Banking Operations in France “As part of President Asiwaju Bola Ahmed Tinubu’s state visit to France, the Chairman of UBA Group, in the presence of President Tinubu and the President of France, Emmanuel Macron, signed a landmark business cooperation agreement with the French Finance Minister, …