Author: Marketforces Africa

The Mi-Yetti Allah Cattle Breeders Association of Nigeria (MACBAN) has called for adequate budgetary allocation to boost the livestocK

The Nigerian National Petroleum Company Ltd. (NNPCL) has restored production of 275, 000 barrels of oil per day (bpd) following the settlement of lingering rift between oil operators and unions.

Exchange-traded market prices of Bitcoin, Ethereum and other large cryptocurrency moves steadied on Monday ahead of the US economic data release.

British Prime Minister Rishi Sunak on Monday fired Home Secretary Suella Braverman, who drew anger for accusing police of being too lenient with pro-Palestinian protesters.

Global Ratings agency, Moody’s Services has kept the U.S. sovereign rating at Aaa but lowered its outlook to “negative” from “stable. This means even the U.S.’ last top credit rating that was assigned by the major credit rating agencies has the prospect of a downgrade.

African Export-Import Bank (AfreximBank) has closed about $1 billion with some organisations in various sectors across the continent.

Higher-than-expected oil prices in a scenario where the Middle East conflict disrupts oil supply would cause lower economic growth and higher inflation, Fitch Ratings says.

Global prices of oil declined on optimism that Iraq would boost supply amidst conflict in the Middle East. Iraq’s government has expressed optimism that it will soon achieve an agreement to resume oil production from its Kurdish area.

The average yield on Nigerian Treasury bills slumped to 13.6% after the Central Bank’s midweek primary market auction (PMA). 

Nigeria’s foreign exchange reserve bumped after gaining traction for four weeks amidst pressures in the global crude oil market. Having stagnated for a long, the gross external reserve has been ascending lately due to improved crude oil production volume and above 2023 budget benchmark market price.