Dangote’s bid buy crude in Nigerian currency approved

Dangote’s bid buy crude in Nigerian currency approved

Nigeria's government has approved the sale of crude oil to the Dangote refinery in the local currency, the Naira. The government asked the state-owned oil company, Nigerian National Petroleum Company Limited to sell the crude to Dangote and other refineries with immediate effect. The decision puts an end to the dispute between Dangote refinery and oil regulators over crude supply. Reuters reports that the $20 billion Dangote refinery, Nigeria's […]

July 30, 2024 20

Oshiwambo

Omahangano gaanilonga mo Nigeria ga patitha oombelewa nomayakulo taga pula egwedhelo lyoondjambi

Omahangano gaanilonga mo Nigeria nena oga ningi oonkundathana dhinasha naashoka tashi tulwa poshitaafula kepangelo,okundjekapo oondjambi dhaanilonga,mesiku etiyali lyekanka lyopashigwana,ndyoka lya piyaganeka omalweendo goodhila noku patitha oombelewa dhepangelo. Ehulithepo lyiilonga olyiindilwa komahangano gaali omanene,lyo Nigeria Labour Congress nolyo Trade Union Congress,pethimbo oshilongo sha taalela elondo lyoondando,noshimaliwa shoshilongo o Naira shaahena engungumano. Ohela omahangano gaanilonga oga pata osasiyona yopashigwana yolusheno,noku kateka omalweendo goodhila,noku patitha oombelewa odhindji dhepangelo,omatuliloskepa,iitasi yomahooli noompangu,taga pula epangelo li […]

June 4, 2024 17

Africa

Twin rate cuts set Mozambique apart as African currency rally

By Seth Onyango, bird story agency Mozambique’s central bank has decisively cut its benchmark lending rate to 15.75% from 16.5%, setting a precedent as the first African country to slash rates twice in 2024. The move highlights Maputo’s aggressive push for economic growth amid a wider trend of cooling inflation and currency stability against the US dollar across Africa. Rate cuts in the southeastern African nation, prompted […]

April 8, 2024 30

Africa

Inflation in Nigeria is still climbing while it has slowed globally: here’s why

By Stephen Onyeiwu, Allegheny College Just as Nigerians were gradually digging out from the devastating effects of the COVID-19 pandemic, they were hit by high inflation. The Nigerian economy contracted by 6.1% at the peak of COVID in the second quarter of 2020. Unemployment rate rose from 27% in the second quarter of 2020 to 33% in the fourth quarter of the same year. The World Bank estimated […]

March 14, 2024 22