4 h. ago How oil prices rally boosts CBN’s push for higher reserves, stable naira

By Michael Nwadike The Central Bank of Nigeria (CBN) has continued to take steps that ensure higher reserves accretion, stable naira and elevated dollar liquidity. The ongoing oil prices rally over Israel-Iran war portends a combination of risks and upsides for the economy, underlining the need for proactive management of its impact. Brent Oil Futures […] The post How oil prices rally boosts CBN’s push for higher reserves, stable naira appeared first on The Sun Nigeria.

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39 h. ago Oil could surpass $90 as Middle East tensions mount, Goldman, Barclays warn

Rising geopolitical tensions in the Middle East could drive Brent crude oil prices up by as much as $10 per read more Oil could surpass $90 as Middle East tensions mount, Goldman, Barclays warn

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5 d. ago Petrol Pump Prices May Not Rise In Nigeria Despite Hike Int’l Market Rate

There are reports indicating that pump price of petrol in Nigeria may not go up despite a sharp rise in the price of crude in the international market. Despite being an oil-producing nation, Nigeria relies heavily on imported petroleum products. This means that any rise in global oil prices is directly reflected in local fuel […]

Politics

5 d. ago Oil Prices May Hit $100 Per Barrel With Escalating Middle East Crisis

Experts are forecasting an unprecedented oil price hike with the spiral of military strikes between Israel and its neighbours. Israel’s attack on Iran is unlikely to cause a major disruption to oil supply, analysts at two major banks said, but a worst-case scenario involving blockades in the Strait of Hormuz could push prices above $100 […]

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1 week ago Nigeria’s naira strengthens as oil rises and trade worries ease

Nigeria’s naira rose for a seventh day to a two-month high against the dollar on Tuesday amid higher oil prices read more Nigeria’s naira strengthens as oil rises and trade worries ease

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2 w. ago Oil settles 1% lower after US data shows large builds in fuel stocks

Oil prices settled down just over 1% on Wednesday after U.S. data showed surprisingly large build in gasoline and diesel read more Oil settles 1% lower after US data shows large builds in fuel stocks

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2 w. ago Tackling impact of oil price drop on FX inflows with financial policies

Tribune Online Tackling impact of oil price drop on FX inflows with financial policies Businesses are expected to adopt export-oriented strategies by targeting sectors with strong export potential, and focusing on value addition by shifting from exporting raw materials to processed goods, thereby boosting foreign exchange (FX) earnings.  Doing this will ameliorate the adverse impact of oil price decline on foreign exchange (FX) inflows into government coffers, in addition […] Tackling impact of oil price drop on FX inflows with financial policies Tribune Online

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