Nigeria earns N2.8trn from petroleum products in 3 months

28 May 2015, Abuja – Nigeria earned N2.838 trillion from the export of petroleum products in the first quarter of 2015, according to data released, yesterday, by the National Bureau of Statistics, NBS. The amount is 64.18 per cent of the Federal Government’s 2015 budget of N4.425 trillion. The NBS, in its Foreign Trade Statistics for […] More »

African economies grew by 3.9 per cent GDP in 2014

…Amid global and regional shocks 28 May 2015, Sweetcrude, Lagos – African economies registered 3.9% average GDP growth in 2014 compared to the 3.7% in 2013. This reflects resilience to global and regional shocks which affected the continent last year, according to the African Development Bank Group’s Annual Report, which was released Wednesday, May 27 […] More »

Financial Inclusion – GTBank, Etisalat target 55 million unbanked Nigerians

28 May 2015, Lagos – Guarantee Trust Bank (GTB) and Etisalat have formed a business partnership targeted at connecting 55 million unbanked Nigerians in the next few months, through the mobile payment system, that will enable them open a Tier 1 bank account, using their mobile phones. Announcing the initiative in Lagos on Tuesday, both […] More »

Tornado hits Texas rig

28 May 2015 – At least three people were injured on Wednesday when a tornado hit a natural gas drilling rig in northern Texas, according to reports. One victim sustained minor injuries, the second had non-life-threatening injuries to the face, and the third suffered “an impalement to the abdomen,” Reuters quoted Hemphill County Sheriff James […] More »

OPEC daily basket price close at $60.43/b

28 May 2015, Sweetcrude, Vienna, Austria — The price of OPEC basket of twelve crudes stood at 60.43 dollars a barrel on Wednesday, compared with $60.73 the previous day, according to OPEC Secretariat calculations. The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), […] More »

Financial market products & services update

28 May 2015, Sweetcrude, Houston – local and international financial market products and services update. NIGERIA: Nigeria’s total external merchandise trade decreased by N110.2 billion to N4.87 trillion in the first quarter of the year (Q1 2015) compared to N4.98 trillion in the previous quarter, according to the National Bureau of Statistics (NBS). The bureau […] More »

Navy has achieved drastic reduction in crude oil theft – Jibrin

27 May 2015, Lagos – The Chief of Naval Staff (CNS), Vice Adm. Usman Jibrin, has said that the Nigerian Navy in the last one year has achieved a drastic reduction in crude oil theft. Jibrin who was represented by the Chief of Policy and Plans, Rear Admiral Johnson Olutoyin stated this during the Inter-Denominational Church […] More »