LAGOS MAY 30TH (NEWSRANGERS)-Nigeria’s sovereign dollar-denominated bonds rose on Tuesday after new President Bola Tinubu said at his swearing in on Monday that a costly fuel subsidy would be removed and the central bank should work towards a unified exchange rate. Eurobonds were up as much as 1.77 cents in the dollar, with the 2029…
LAGOS JANUARY 5TH (NEWSRANGERS)-Military coups were a regular occurrence in Africa in the decades after independence and there is concern they are starting to become more frequent. There were two takeovers in Burkina Faso in 2022 as well as failed coup attempts in Guinea Bissau, The Gambia and the island nation of Sao Tome and…
LAGOS MAY 10TH (NEWSRANGERS)-The price of local rice, palm oil, brown beans, and bread amongst other staple food items surged across Lagos Markets. This is according to the recent food market survey carried out by Nairalytics, the research arm of Nairametrics. The recent food price increase is despite the reopening of four more land borders…
LAGOS NOVEMBER 2ND (NEWSRANGERS)-The lingering shortage of foreign exchange in Nigeria has forced the naira to crash against the United States dollar on the air ticket pricing template of the International Air Transport Association, the Switzerland-based trade body representing over 290 global airlines. As a result, airfares on Nigeria routes which are priced in naira…
LAGOS AUGUST 21ST (NEWSRANGERS)-There is a growing concern over the increase in attacks on barges anchored at the ports in Lagos, Vanguard Maritime Report can authoritatively report. Investigations by Vanguard Maritime Report revealed that the increase in attacks may not be unconnected to the success recorded by the attackers who come in speed boats and heavily…
LAGOS MAY 31ST (NEWSRANGERS)-Tensions ran high on Sunday in southeastern Nigeria as the former separatist region commemorated the more than one million people who died in the Biafra war and famine of the late 1960s. The Indigenous People of Biafra (IPOB), the leading separatist group, is remembering war victims over two days, with a candlelit…
LAGOS SEPTEMBER 2ND (NEWSRANGERS)-Oil prices recovered on Tuesday, erasing overnight losses, as investors moved into risk assets and away from the safe-haven U.S. dollar, which tumbled to multi-year lows. Brent crude futures climbed 49 cents or 1.1% to $45.77 a barrel at 0406 GMT while the U.S. West Texas Intermediate (WTI) crude futures rose 37…
LAGOS SEPTEMBER 2ND (NEWSRANGERS)-The US dollar, the much sought after currency in Nigeria slumped by 5.38% on Tuesday at Nigeria’s parallel market, its second successive fall since Friday. At the market today, a dollar sold for N440. The rate was N465 on Monday, meaning the Naira gained N25. The buying rate is even much lower…