The Chairman of Dangote Sugar Plc, Alhaji Aliko Dangote, says the company plans to end the importation of sugar in the next four years going by efforts in its backward integration policy. He stated this during the company’s 18th Annual General Meeting held in Lagos where the company’s shareholders approved the appointment of some Board members…
According to the BPE, applicants are expected to be domestic/international investors or groups with proven track records in ownership, financial capability, and technical competence in the exploration and/or mining industry. President-elect is in support of coal use While running his presidential campaign, President-elect Bola Ahmed Tinubu said he would encourage the use of coal in…
The price of the precious metal settled at an all-time high on Monday, supported by continuing geopolitical tensions and bets on a Fed rate cut. Gold futures expiring in April increased by 1.4 percent to $2,125.65 an ounce, while spot gold increased by 0.5 percent to settle at a record of $2,126.30. Some weak U.S….
Cocoa prices moderated past its two and a half-week low on Tuesday amid a boost in supplies from Nigeria and an uptick in rainfall. Nigeria, the world’s fifth largest cocoa producer, reported that its March cocoa exports rose +19% y/y to 22,199 metric tons. Cocoa active contracts dropped more than a fifth of their value…
The Nigerian economy’s heavy reliance on oil revenues has made it particularly vulnerable to international market dynamics, leading to currency depreciation and a disparity between official and parallel market exchange rates. These conditions have exerted strain on businesses and dampened investor confidence. However, under Governor Yemi Cardoso’s leadership, the Central Bank of Nigeria (CBN) has…
Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN), has said that government purchases of palliatives are a contributing factor to rising food prices in Nigeria. During the latest Monetary Policy Committee (MPC) meeting held between March 25 and 26, 2024, Cardoso noted that new inflation drivers are emerging beyond the usual monetary factors….