Naira Falls to N436/$ on Parallel Market as Dollar Scarcity Worsens

Naira Falls to N436/$ on Parallel Market as Dollar Scarcity Worsens

• Nigeria needs $15bn to stabilise, says Dangote • Lagos, Kaduna top list of most indebted states Obinna Chima with agency reports The naira fell to an all-time low of N436 to the dollar on the parallel market yesterday, as against N428 to the dollar from the previous day, as the perennial scarcity of the greenback in the market took a turn for the worse. The effect of the dollar shortage was also felt on the…

Read More

Nigeria’s Debt Increased By N4trillion

Nigeria’s  Debt Increased By N4trillion

Nigeria’s debt burden has increased by nearly N4trillion in the past six months, with potentials of hurting the chances of securing the much-needed foreign loans for implementing 2016 budget. According to the Debt Management Office (DMO) data on the country’s debt released on Tuesday, Nigeria’s debt profile rose from N12.6 trillion at the end of 2015 to N16.3 trillion as at June 30, 2016. The country’s total external debt stock, owed by states and the…

Read More

Shoppers Boast

Shoppers Boast

Shoppers have shrugged off post-Brexit fears as retail sales increased by more than expected in July, according to official figures. Retail sales volumes, including fuel, increased by 1.4% in July compared with June, the Office for National Statistics (ONS) said, exceeding all forecasts that pointed towards a 0.2% rise. It comes after retail sales fell by a worse-than-expected 0.9% in June as poor weather dampened demand for summer fashions and footwear, “These are strong numbers…

Read More
1 30 31 32