Nigeria’s Eurobond comeback nets $2.2bn in landmark offering
Post AMUGE
14 hrs
Onome Amuge Nigeria has raised $2.2 billion through its latest Eurobond sale, marking its return to the international capital markets after a gap of eight months (since March 2022). The auction saw the sale of two bonds, each with a different maturity period. While the Eurobond auction attracted e $9 billion in bids, Nigeria’s finance […]
Oil climbs on China’s economic optimism, OPEC talks in spotlight
Post AMUGEDecember 2, 2024
Onome Amuge Oil traded higher on Monday, driven by encouraging economic data from China, the world’s top importer of crude oil, and a keen eye on the upcoming OPEC+ meeting for supply cues. Bargain hunting also gave a boost to crude, after last week’s steep decline brought on by signs of a de-escalation of tensions […]
Economic hardships persist as questions cloud Nigeria’s GDP growth report
Post AMUGEDecember 2, 2024
Accuracy of data in doubt- NACCIMA Economic growth not inclusive- Uwaleke Onome Amuge The latest gross domestic product (GDP) report from the National Bureau of Statistics (NBS), declaring a 3.46 per cent growth rate for Nigeria’s economy in the third quarter of 2024, has set the stage for a fiery debate, with critics finding such […]
$2bn Power Play: China’s Saudi bond deal shifts global financial dynamics
Post AMUGEDecember 2, 2024
Onome Amuge A seemingly mundane financial transaction can sometimes ripple with geopolitical implications, as is the case with China’s recent $2 billion USD-denominated sovereign bond sale in Saudi Arabia. This deal has set off a firestorm of speculation about its true meaning, particularly against the backdrop of a potential Trump administration return in the US, […]
CBN set to debut redesigned website on Monday
Post AMUGEDecember 1, 2024
Onome Amuge The Central Bank of Nigeria (CBN) has announced the launch of a newly redesigned website (www.cbn.gov.ng), which will be operational on Monday, December 2, 2024. The Bank said it has developed a contemporary Web application programming interface (API) that operates on Microsoft.NET Core 8 (the most recent and stable release) to enhance user […]
Bearish week wipes N185bn off investors’ portfolios in equities market
Post AMUGENovember 30, 2024
Onome Amuge The Nigerian equities market endured a rough week, as investors saw their market capitalization shrink by N185.59 billion. This drop in value follows the previous week’s gain of N77.77 billion. In a similar trend, the market capitalisation decreased from N59.11 trillion to N59.29 trillion, while the All-Share Index (ASI) depreciated by 0.33 percent […]
Okonjo-Iweala secures second term as WTO DG
Post AMUGENovember 29, 2024
Onome Amuge The General Council of the World Trade Organisation (WTO), has extended the tenure of Ngozi Okonjo-Iweala, reappointing her as director-general for a second term. Okonjo-Iweala was originally elected to the post in February 2021, with her current stint slated to expire on August 31, 2025. The WTO General Council’s decision paves the way […]
Global climate goals in question amid COP29’s disputed $300m finance deal
Post AMUGENovember 29, 2024
Onome Amuge Two weeks of intense negotiations at COP29 in Baku, Azerbaijan, came to a close on Sunday, November 24, 2024, as the world’s wealthiest countries reached an agreement to scale up their financial contributions to $300 billion by 2035, aimed at assisting low-income countries struggling with the impacts of climate change. Though the COP29 […]
FG spends N8.8bn on restoration of vandalised power towers – TCN
Post AMUGENovember 28, 2024
128 power towers lost in 2024 Onome Amuge The federal government has spent not less that N8.8 billion in 2024 to repair and restore transmission towers that were vandalised across the country. Ahmed Abdulaziz, the managing director and chief executive officer of the Transmission Company of Nigeria (TCN), made the disclosure during a recent Power […]
Oil prices steady as markets eye Israel-Hezbollah ceasefire, OPEC+ decisions
Post AMUGENovember 27, 2024
Onome Amuge Oil prices hovered at stable levels on Wednesday as the markets weighed in on Israel and Hezbollah’s ceasefire agreement and shifted their focus to OPEC+’s upcoming gathering. OPEC+, the leading oil-producing cartel, is set to meet on Sunday to discuss the potential deferment of their planned oil output boost. Brent crude futures inched […]