Nigeria's recent Eurobond issuance of US$2.25 billion has caught the attention of financial experts and investors alike. While the bond was oversubscribed, meaning there was strong investor demand, the coupon rate of 9.125% for the 10-year tranche and 9.625% for the 20-year tranche raises a few eyebrows. This rate appears to be on the higher …
U.S. stock index futures climbed on Monday amid signs of progress in Washington to end the record-long government shutdown that has stalled economic data releases and raised concerns about the economy. On Sunday, senators advanced a House-passed bill to fund the government until January 30. If approved by the Senate, the measure must still pass …
The United States is facing a worsening air travel crisis as the ongoing government shutdown enters its second week, forcing the Federal Aviation Administration (FAA) to impose sweeping nationwide flight cuts and heightening frustration among airlines and passengers alike. On Saturday, major U.S. airlines slashed another wave of flights, marking the second consecutive day of …
Dangote Refinery has reduced the price of Premium Motor Spirit (PMS), also known as petrol at its gantry to ₦828 per litre, from ₦877 sold previously. This change reflects a 5.6 per cent drop. The price slash comes amid heightening competition in the downstream petroleum market The Major Energies Marketers Association of Nigeria (MEMAN) last …
Nigeria, often called the Giant of Africa, is a nation of extraordinary cultural diversity. With over 250 ethnic groups, the country’s festivals are vivid windows into its history, traditions, and communal life. From age-old spiritual rites to contemporary cultural extravaganzas, Nigerian festivals celebrate identity, community, and heritage. Here is an exclusive guide to 31 of …
The International Monetary Fund (IMF) has concluded its latest mission to Senegal without finalizing a new lending programme, though discussions are still ongoing. Mission Chief Edward Gemayel confirmed that negotiations would continue in the coming weeks, noting that Senegal’s government was committed to restoring fiscal discipline after uncovering billions of dollars in unreported debt left …
For the first time in history, the U.S. Labor Department will miss releasing its key employment report for a second consecutive month, as the ongoing government shutdown stretches into its second month, the longest ever recorded. The data blackout has left economists, investors, and policymakers struggling to gauge the true state of the American economy. …
The National Pension Commission (PenCom) and the National Insurance Commission (NAICOM) have introduced tough new measures to force employers into complying with pension and insurance laws. Both regulators now require insurance companies to only work with employers that comply with pension deductions and employee life insurance contributions. In a joint circular issued on Wednesday, PenCom …
Financial expert Funsho Doherty has slammed the recently approved 15% import duty on petrol and diesel, warning that it could further strain Nigerian households already grappling with high fuel costs. In an open letter to Senate President Godswill Akpabio, Doherty, who previously worked with Goldman Sachs & Co., PNC Advisors, Arthur Andersen, and served as …
Power generation companies (GenCos) in Nigeria have lost an estimated ₦987.92 billion in five years due to the persistent electricity crisis arising from frequent collapse of the national grid and poor distribution infrastructure. A recent report released by the Association of Power Generation Companies (APGC) explained that the figure represents the value of electricity that …
