Tag: oil price
Minister Zainab Ahmed told journalists in Abuja that Africa’s largest economy will prioritize “major capital expenditures.”
As of 0645 GMT, the rand was 0.69% firmer at 16.4500 per dollar, compared with Thursday’s session-low of 16.6150.
Shares in South African petrochemicals group Sasol surged nearly 30% on Friday as a recovery in oil prices sparked buying of the stock, which was pummelled in the previous session.
The International Monetary Fund (IMF) on Thursday said it will be working closely with the Nigerian authorities in the coming days to assess any vulnerabilities which may be exposed by the sharp decline in crude prices, as Nigerian and Angolan dollar bonds sank to record lows.
Plummeting oil prices and a continued surge in global coronavirus cases has caused markets around the world to nosedive today, with Nigeria confirming its second case of COVID-19 in the country. Traders say they expect the movement in the price of Brent crude to guide demand in the bond space. Victor Aluyi joins CNBC Africa to discuss the impact on Nigeria's fixed income and FX Markets.
Global markets are in the red and the rand tanks on the back of the oil price war between Saudi Arabia and Russia as well as the developments of the Covid-19 virus. Joining CNBC Africa for more is Han Tan, Market Analyst at FXTM and Andre Cilliers, Currency Risk Specialist and Director at TreasuryONE....
Oil prices plunged over 26 per cent after a breakdown in talks in Vienna last week as OPEC failed to reach a deal with its allies on production cuts. In the face of an all-out price war, how can Africa's oil producers like Nigeria stay ahead? Kola Karim, Chairman of Shoreline Group and Usoro Essien, Head of Research at Vetiva Capital joins CNBC Africa for more.