AfDB Approves $200m BoI Facility The African Development Bank (AfDB) Group has approved a 200 million dollar financing facility for…

S&P Global has upgraded its long-term ratings on Nigeria to ‘B’ from ‘B-‘, citing higher oil production and prices, the large increase in domestic refining capacity, and the 2023 decision to liberalise the exchange rate.

Brent and US West Texas Intermediate light sweet crude oil prices saw strong weekly gains of about 10% on a week-on-week basis as renewed concerns over US-Iran tensions and possible disruptions to crude flows through the Strait of Hormuz kept geopolitical risks at the centre of market sentiment