BUSINESS

Oil falls as signs of U.S. output rise overshadow OPEC-led cuts

Daily Dispatch January 23, 2017

Oil prices fell one percent on Monday as signs of a strong recovery in U.S. oil drilling activity outweighed news that OPEC and non-OPEC producers were on track to meet output reduction goals set in December. Global benchmark Brent crude prices LCOc1 were down 49 cents at $55 a barrel at 1221

BUSINESS

European stocks hit three-week low as Trump reality sets in

Daily Dispatch January 23, 2017

European stocks and bond yields dropped on Monday and the dollar hit a six-week low after U.S. President Donald Trump began his term in office with a protectionist speech that pushed a nervous market into safe-haven assets. World stocks hit multi-year highs earlier this month on expectations Trump would boost growth and inflation with extraordinary […]

BUSINESS

Daily Dispatch January 23, 2017

Statistics from the Central Bank have shown that Nigeria’s Foreign Exchange reserves rose by 15 per cent in the fourth quarter of 2016. The reserves which now tops 27.4 billion dollars as at January 19, increased by 3.6 billion dollars from 23.8 billion dollars on October 19. The report also indicates a 1.6 billion dollars […]

BUSINESS

We Rely Solely on Local Tomatoes As Raw Materials – MD Dangote Tomato Factory

Daily Dispatch January 20, 2017

  Managing Director of Dangote Tomato Processing Factory, Kadawa, Kano, Alhaji Abdulkarim Kaita, has disclosed that the company is relying on local fresh tomatoes as raw materials for its operations. Kaita said in a statement in Kano on Friday that the factory did not require any foreign exchange to import its raw materials. He urged […]

BUSINESS

We’re Not Owing Marketers-PPRA

Daily Dispatch January 20, 2017

The Petroleum Products Pricing Regulatory Agency has denied reports speculating an imminent fuel scarcity over the Federal Government’s inability to pay fuel marketers’ N660 billion debt‎. ‎ Spokesperson of the agemcy, Lanre Oladele in a statement issued on Thursday said the report was misleading and “a gross misrepresentation of facts”. ‎ “There were reports that […]

BUSINESS

CBN Commences Sale Of Forex To BDCs

Daily Dispatch January 18, 2017

The Central Bank of Nigeria started auctioning $250 million to 3,147 registered Bureau De Change nationwide on Wednesday. Alhaji Aminu Gwadabe, the President, Association of Bureau De Change Operators of Nigeria, disclosed this to the News Agency of Nigeria on Wednesday in Lagos. He said the sale of the foreign currency to BDCs would impact […]