PM News Nigeria


Oil drifts lower on stronger dollar

dollar

Oil dipped Tuesday as a stronger US dollar and progress in controlling wildfires in Canada’s crude-producing Alberta province dampened prices. At around 1100 GMT, US benchmark West Texas Intermediate for July delivery was down 20 cents at $47.88. Brent North Sea oil, the European benchmark, for July delivery slid 29 cents at $48.06. “Crude prices […]

New Petrol Price: Nigerians seek salary increase

President Muhammadu Buhari of Nigeria

Following the increase in the price of the premium motor spirit (PMS) from N86.50 to N145 a litre, many Nigerians are calling on the Muhammadu Buhari administration to review their salaries and the minimum wage to reflect the present realities. Oil workers under the aegies of the National Union of Petroleum and Natural Gas Workers, […]

Lagos swimming in money

Akinwunmi Ambode, Gov Lagos State

The Lagos State Government has recorded a total revenue of N101.69 billion in the first quarter of the 2016 budget with a surplus of N4.85bn as against an expected deficit of N29.92bn. The state Commissioner for Economic Planning and Budget, Mr. Akinyemi Ashade who disclosed this during a briefing at Alausa, Ikeja, to commemorate the […]

2016 budget will strengthen the naira

Nigeria's currency, the naira

AProf. Park Idisi of the Department of Agriculture, University of Abuja, on Saturday said the 2016 budget would increase exports that would strengthen the country’s currency. Idisi told the News Agency of Nigeria (NAN) in Abuja that although the naira had lost its value against the dollar and other foreign currencies, it would soon gain […]

Nigeria’s capital imports crash by 74% in first quarter

President Muhammadu Buhari: mocked by UK newspaper

The total value of capital imported into Nigeria in the first quarter plunged to $710.97 million, a 73.79 per cent decline from the same quarter a year ago, the National Bureau of Statistics said on Wednesday. Nigeria, Africa’s biggest oil exporter, has been hit by its worst economic crisis in years, as low prices for […]

Australian Craig Wright says he invented Bitcoin

Craig Wright claims he invented Bitcoin

Australian entrepreneur Craig Wright has publicly identified himself as Bitcoin creator Satoshi Nakamoto. His admission ends years of speculation about who came up with the original ideas underlying the digital cash system. Mr Wright has provided technical proof to back up his claim using coins known to be owned by Bitcoin’s creator. Prominent members of […]

Naira depreciates further against the dollar

Nigeria's currency, the naira

The Naira on Friday depreciated further, exchanging at N321.5 to the dollar at the parallel market, losing N1 on Friday afternoon, from the N320.5 to a dollar it traded on Wednesday. However, it traded against the Pound Sterling and the Euro at N460 and N463. It had previously exchanged at N457 and N361 respectively on […]



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