Nigeria’s Commodity Exchange recently commissioned cashew nuts processing and warehousing facilities at Egume/Ochaja, Dekina Local Government Area of Kogi State to minimise losses incurred as a result of delayed export of the crop. The facilities are to serve as the point for stacking, weighing, and evacuation of cashew nuts from
Commodity investors are back in full force, with record wagers that crops, metals, and oil are set for a rally. A weakening dollar is making materials denominated in the currency more appealing at a time when equities are on a tear and the world is on a path to recover
Oil edged lower on Friday, falling more than 2% on the week as COVID-19 cases surged globally and oil supply is set to rise in coming weeks. Brent crude futures LCOc1 settled at $41.92 a barrel, down 2 cents, while U.S. West Texas Intermediate (WTI) crude futures CLc1 lost 6 cents to $40.25 a
Jet fuel consumption remains the hardest hit section of the global oil market as passengers avoid air travel as a result of the pandemic and government travel restrictions. The specific problems of the jet market explain why refinery margins for closely related distillates such as diesel are currently being hit
The Central Bank of Nigeria (CBN) says its interventions in agricultural and manufacturing sectors have saved the economy about N1.3 trillion annually in import bills. The Deputy Governor in charge of the Corporate Services Department of the CBN, Edward Adamu, said the bank’s intervention is targeted at improving local production of four
Amid a deteriorating political and economic context, there is one sector that Zimbabwe can look to for hope: agriculture. However, for agriculture to pull Zimbabwe out of the dark, the government needs to better harness the potential of the country’s land and water resources. A recent report by the African
SMALL scale gold miners can secure Bank of Tanzania (BoT) loan guarantee of up to 500m/- through the registered commercial banks in the country, the central bank announced here yesterday. BoT Mwanza Branch Assistant Manager, Banking, Melchiades Rutayebesibwa told the ‘Daily News’ here yesterday that through the Small and Medium
In “Futures In Focus”, Bob Iaccino, founder at Path Trading Partners, discusses this week’s moves in the commodities market. He speaks on “Bloomberg Markets.”
Nigeria is the largest producer of kolanuts in the world, with a total output of 140,842 tonnes, valued at $141mn. It is mainly produced in the South West states and is the subject of cattle for kolanuts exchange in the popular Sabo market of Sagamu. It is well known for
A mix of political populism, higher commodity prices, and the expectation electrification will spur demand for some raw materials has led resource-holding governments to change the rules for miners operating in their countries. In most cases, governments are seeking to increase their share of profits, rather than all-out resource nationalism,