Oil Posts Largest Decline in 2 Weeks Ahead of Producers Meeting – Businessday NG

Oil recorded its first loss in three days on signals that a glut is growing at America’s biggest storage depot and concern that an upcoming meeting among producers won’t yield large enough production cuts to offset cratering demand. Futures closed 8% lower in New York Monday, after earlier plunging as much as 11%. Industry data […]

China reports no new death from Covid-19 as crisis eases in Italy, Spain – Businessday NG

A good part of the world appears to be turning the corner in the fight against the deadly Coronavirus with China reporting no new coronavirus deaths for the first time since the pandemic emerged. Adding to signs that the crisis may be easing in some areas, Italy, France, Germany and Spain reported lower numbers of […]

Updated: Fitch downgrade worsens Nigeria’s dollar-debt prospects – Businessday NG

Nigeria’s hope of raising dollar-denominated cash in the Eurobond market to finance its deficit may have finally hit the rocks as rating agency, Fitch, downgraded the country’s long-term foreign currency issuer default rating (IDR) to ‘B’ from ‘B+’ with a negative outlook, citing external and fiscal pressures. The new rating by Fitch is at par […]

COVID-19 era: Not a time for lamentation – Businessday NG

As the COVID-19 pandemic spreads fiercely across the world, the overwhelming impact is having negative effects on individuals, friends, and communities. Tracking the number of confirmed cases as at 2 April 2020, the virus has affected 203 countries, 946,875 cases and 48,135 deaths, while 202,888 have recovered, according to the World Health Organization (WHO). There […]

45% of new Covid-19 infections in Lagos now community transmission – Businessday NG

Community transmission is fast emerging the fastest way of transmitting the coronavirus disease, accounting for 45 percent of new infections in Lagos currently, Akin Abayomi, Lagos State commissioner for health, said on Monday. Abayomi said imported cases are decreasing as cases involving those who have returned from abroad are now 54 percent of infections. He […]

FG says in talks with Innoson, other auto firms on ventilator manufacturing – Businessday NG

The Federal Government has confirmed that it is in discussion with Innoson and two other automotive firms who had expressed desire to manufacture the much-needed ventilators to fight the coronavirus pandemic. Niyi Adebayo, minister of industry, trade and investment, who disclosed this to journalists in Abuja on Monday, said Innoson had specifically sent in a […]

Dangote Cement woos investors with N100bn issue – Businessday NG

Dangote Cement plc, Africa’s leading cement manufacturer, is seeking to raise up to N100 billion in fresh funds from the bond market under its NGN300 billion Debt Issuance Programme. According to the investor presentation document prepared by the company and themed ‘Building Prosperity in Africa’, the funds from the  debut offering in the bond markets […]

UK Prime Minister Boris Johnson moved to intensive care as Coronavirus symptoms worsen – Businessday NG

UK Prime Minister Boris Johnson has admitted to intensive care with coronavirus symptoms. “Since Sunday evening, the Prime Minister has been under the care of doctors at St Thomas’ Hospital, in London, after being admitted with persistent symptoms of coronavirus. A spokesperson for No.10 said: “Over the course of this afternoon, the condition of the […]

UK Prime Minister Boris Johnson moved to intensive care – Businessday NG

UK Prime Minister Boris Johnson has admitted to intensive care with coronavirus symptoms. “Since Sunday evening, the Prime Minister has been under the care of doctors at St Thomas’ Hospital, in London, after being admitted with persistent symptoms of coronavirus. A spokesperson for No.10 said: “Over the course of this afternoon, the condition of the […]

Fitch downgrade worsens Nigeria’s dollar-debt prospects, shifts attention to multilateral lenders – Businessday NG

Nigeria’s hope of raising dollar denominated cash in the euro-bond market to finance its deficit may have finally hit the rocks as rating agency, Fitch downgraded the country’s long-term foreign currency issuer default rating (IDR) to ‘B’ from ‘B+’ with a negative outlook citing external and fiscal pressures. The new rating by Fitch is at […]

Covid-19: Nigeria to source $150m from SWF to fund June FAAC allocation – Businessday NG

Nigeria will source some $150m from the Sovereign Wealth Fund (SWF) to fund June Federal Accounts Allocation Committee (FAAC) as the country it battles severe income shortage on account of ravaging impact of Covid-19 as well as oil price war between Russia and Iran. Zainab Ahmed, Minister of Finance, Budget and National Planning announced this […]

Covid-19 and the Nigerian nation: An overview of the ongoing pandemic, the local response, and prospects for the future – Businessday NG

History The virus SARSCOV-2 is now known the world over as the cause of the pandemic disease known as COVID-19. The effect of the virus was first noted in Wuhan, China, in December 2019. A pattern of illness characterized by fever, cough, difficulty in breathing, severe weakness and body pains as well as a variety […]

South Africa’s arms firm Denel to produce ventilators in coronavirus fight – Businessday NG

 South Africa’s Denel will design and develop medical ventilators in partnership with other state-owned entities, research bodies and medical technology companies to help treat coronavirus patients, the state arms and technology company said on Sunday.   Governments and hospitals globally have pleaded with manufacturers to speed up production of ventilators to cope with a surge […]

Boris Johnson Admitted To Hospital As Coronavirus Symptoms Persist – Businessday NG

Prime minister Boris Johnson has been admitted to hospital for tests as his coronavirus symptoms persist, Downing Street said Sunday night. A spokesperson for No.10 said: “On the advice of his doctor, the prime minister has tonight been admitted to hospital for tests. “This is a precautionary step, as the prime minister continues to have […]

3 German banks join Siemens deal but hurdles remain – Businessday NG

Three of Germany’s biggest banks – Deutsche, Commerzbank, and KfW – have expressed an interest in providing financing to support the Siemens power deal with the Nigerian government, BusinessDay has learnt, even as the deal is fraught with teething challenges. Abba Kyari, chief of staff to President Muhammadu Buhari, Sale Mamman, minister of power, and their […]

NSE index shed almost 5,000 points in March, its biggest monthly decline in 5 years – Businessday NG

The Nigerian Stock Exchange (NSE) All Share Index as at market close on March 31 recorded its single biggest monthly decline in five years as the bourse shed about 4,915 points in the month, outpacing the selloffs experienced during the economic recession in 2016. The biggest monthly decline on record remains October 2008 when the […]