Monday, 16 May 2016

CBN Won't Devalue Naira as Military Arrests Niger Delta Avengers

Latest from the Economic Confidential, the factual, authoritative and accessible economic magazine
 
Military Arrests Suspected Niger Delta Avengers,
The Nigerian military has confirmed the arrest of suspected members of the new militant group, the Niger Delta Avengers (NDA) who were allegedly responsible for recent attacks on oil pipelines.
 
CBN Wont Devalue Naira Now
There is no truth whatsoever in speculations that the naira has been devalued or that a devaluation is imminent, the Central Bank of Nigeria (CBN) has said.
 
FG To Propose N45,000 Wage, Meets Labour
Three days to the threatened mass action against government's increase in the price of petrol, the Federal Government may dangling a carrot before labour leaders.
 
Foreign reserves down by $2.9bn in 1 year
Nigeria's foreign reserves recorded the lowest drop in the last four years, according to data from the Central Bank of Nigeria (CBN).
 
UK Ready To Return Looted Funds- AGF
The Attorney-General of the Federation and Minister of Justice, has said  that the government of the United Kingdom had shown its commitment towards repatriating funds stolen from Nigeria.
 
Naira Devaluation Inevitable, Rewane, Others Insist
The naira, which came under pressure l following the partial deregulation of the downstream petroleum sub-sector, has to be devalued, with a flexible foreign exchange policy put in place, industry experts have said.
 
2 Million Tonnes Of Petrol Stuck On High Seas
At least 75 ships with two and a half million tonnes of fuel are awaiting importers on the high seas as Nigerians can't find the dollars they need to pay for the cargoes, according to ship tracking data and fuel traders.
 
Planned Strike Triggers Panic Fuel Buying Nationwide
Plan by organised labour to embark on nationwide strike from Wednesday to mount pressure on government to backpedal on its fuel subsidy removal has triggered panic buying in Abuja and other parts of the country.
 
Marketers Willing To Forfeit N16.5bn Subsidy Claims
Petroleum marketers are going to forfeit N16.5 billion in possible subsidy claims due to oil price increases at the international market over hoarding of product, which they preferred to call inventory stock.
 
Civil Society Group Backs Industrial Action
Kano Civil Society Forum has pitched its tent with labour on the nation-wide industrial action plan by Nigerian Labour Congress (NLC) and Trade Union Congress (TUC) against the Federal Government's new fuel price regime.
 
Kachikwu: Subsidy Removal Will Save N16.4bn Paid to Marketers Monthly
The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said that the federal government would have had to cough up N16.4 billion every month to offset the subsidy claims of oil marketers had it not taken the decision to remove the subsidy on petrol.
 
Crude Exports: Nigeria Faces Lowest Output Since 1970
U.S. oil major Exxon Mobil has suspended exports from Nigeria's top crude stream, adding to economic strains from unrest and violence that have cut production to its lowest in decades.
 
For more, please visit our websites:
Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)