Devaluation: External reserves fall $1.65bn in six months
Nigeria’s foreign exchange reserves have fallen by $1.6bn to $32.97bn since the CBN tried to unify the country’s foreign exchange rates.
Source: punchng.com
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FX liquidity seen as CBN lifts dom account restrictions
The foreign exchange market is expected to witness increased liquidity following the removal of restrictions...
Source: businessday.ng
Nigeria's Oil Faces Threat As Electric Vehicle Sales Rise
Nigeria’s Oil Faces Threat As Electric Vehicle Sales Rise The rising number of countries gradually shifting from fossil fuels and encouraging the adoption of electric vehicles may pose a major threat to Nigeria’s crude oil exports. Sales of electric cars topped 2.1 million globally in 2019, surpassing 2018 – already a record year – to boost the stock to 7.2 million electric cars, with China leading the charge, according to the International Energy Agency. It said nine countries had more than 100,000 electric cars on the road while at least 20 countries reached market shares above one ...
Source: sundiatapost.com