Nigeria News
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Updated 1 hour, 24 minutes ago
Royal Dutch Shell Plc sold a second cargo of North Sea Forties crude in as many days as the price fell to the lowest in 11 days.
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Updated 2 hours, 25 minutes ago
Nigeria, Africa’s largest oil producer, is set to increase exports of its benchmark Qua Iboe crude in July to the highest in 16 months, according to a loading program obtained by Bloomberg News.
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Updated 3 hours ago
The Central Bank of Nigeria left its benchmark interest rate at a record high, concerned by a drop in oil output and the threat of higher spending as the government combats Islamist insurgents in the northeast.
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Emirates Telecommunications Corp., the largest publicly traded company in the United Arab Emirates, said its Nigerian unit secured a $1.2 billion loan to refinance existing debt and grow its network.
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Transnational Corp. of Nigeria Plc, which invests in hotels, agriculture and energy, fell the most in more than a month after profit for 2012 retreated 58 percent.
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Deogratias Mutombo Mwana Nyembo, who became Democratic Republic of Congo’s central bank governor last week, may boost efforts to extend financial services to more of the country’s 70 million people, an industry group said.
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Comision Federal de Electricidad, Mexico’s state utility, is scheduled to receive nine spot cargoes of liquefied natural gas over the next 19 months from BP Gas Marketing Ltd., a subsidiary of BP Plc, and Trafigura AG.
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The Central Bank of Nigeria will probably keep its benchmark lending rate unchanged at a record high to bolster its foreign-currency reserves and support the naira after oil prices fell last month.
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Nigeria’s $1 billion sovereign wealth fund will start investing in June, as its board has approved the investment policy statements for the three funds it includes, Chief Executive Officer Uche Orji said.
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Nigeria’s military is chasing Islamist fighters as they flee to the borders of Chad and Niger from the northeast, where President Goodluck Jonathan has declared emergency rule, spokesman Chris Olukolade said.
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