OPEC+ Heads for Deep Supply Cuts, Clash with U.S.
The potential OPEC+ cut could spur a recovery in oil prices that have dropped to about $90 from $120 three months ago.
For Second Time in 45 Years, NNPCL Declares Profit, Rakes in N674bn After Tax Revenues
CEO Kyari said the federation is to decide how the funds will be deployed.
Rise in Disruptive Banking Technologies Disturbing, Says Nigeria Central Bank Chief Emefiele
This was just as the World Bank on Tuesday stated that Nigeria’s growth prospect was being stifled by its underperforming oil sector which it noted was also creating fiscal imbalances.
Elon Musk Makes U-Turn, Gets Closer to Buying Twitter
The Tesla CEO proposed to buy the company at the originally agreed-on price of $44 billion.
Libya and Turkey Sign Economic and Maritime Deals
Both countries agreed to mobilise international efforts on a roadmap for Libyan elections.
Oil Prices Edge Up Ahead of OPEC+ Meeting to Discuss Supply Cuts
Oil prices rallied on Monday on renewed concerns about supply tightness.
Underperforming Nigeria Unlikely to be Impacted as OPEC Mulls Highest Cut in Two Years
The group is expected to make the resolution against the backdrop of falling oil prices and months of severe market volatility.
In First Major Deal, NNPCL Acquires Downstream Assets of OVH Energy, Emerges Company with Highest Retail Petrol Stations in Africa
OVH is the owner and operator of the Oando- branded retail service stations across the country.
Tesla Robot Walks, Waves, But Doesn’t Show off Complex Tasks
Musk told the crowd, many of whom might be hired by Tesla, that the robot can do much more than the audience saw Friday.
Nigeria: Telcos Threaten to Halt Banks’ USSD Services over N80bn Accumulated Debts
This would mean customers can’t carry out transactions on their phones with USSD codes which are operated without the use of data and mobile apps.
Nigeria: Local Refining, Solution to High Price of Aviation Fuel, Stakeholders Say
They observed that there could be drastic slump in domestic passenger traffic in 2022.
Afreximbank Launches Trade Payment Services
Afreximbank developed the product specifically to address the banking challenges confronting African economies.
Shell Steps Up Fossil Fuels Divestment, Acquires Nigerian Firm in First African Renewables Deal
Shell is one of the most influential oil producers in Africa, but the Daystar purchase is its first power acquisition on the continent.
Elon Musk Seeks to End SEC ‘Muzzle’ Requiring Pre-Approval of Tweets
Musk is separately trying to abandon his April agreement to buy Twitter for $44bn.
In Aggressive Bid to Tame Inflation, Nigeria Raises Interest Rates to 15.5%
Addressing foreign airlines, CBN Governor Emefiele said, “It (BASA) does not say that you must repatriate your dollars through the central bank.”
Amazon to Hold Mid-October Sale to Capture More Holiday Spending
The “Prime Early Access Sale” will start October 11 at 0700 GMT for 48 hours in 15 countries.
Oil Prices Fall for a Second Day on Concerns for Expected Recession
Central banks in numerous oil-consuming countries have raised interest rates to fight surging inflation.
Nigeria Spends 94.7% of August Oil and Gas Revenue on Petrol Subsidy
In August, Nigeria produced its least amount of crude oil in decades, at about 972, 000 barrels per day.
Bankers Flee Nigeria’s Stagnating Economy as Brain Drain Worsens
Africa’s biggest economy has suffered through two recessions in the last six years.
