By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-Nigeria’s Gross Domestic Product (GDP) grew by 6.7 percent (6.7%) in the second quarter (Q2) of 2013. According to available data from the National Bureau of Statistics (NBS) this is 1.51% higher than 6.6% recorded in the in the preceding quarter. NBS said the development […]
Author: InvestAdvocate
Dangote’s Nigeria oil refinery loan has 7-year tenor – source
A $3.3 billion syndicated loan Nigeria’s Dangote Industries clinched this week to build a 400,000-barrel per day oil refinery and petrochemical plant has a 7-year tenor or maturity, a banking source involved in the deal said. Dangote Industries will have to start repayments after three years, the source said. The […]
Nigerian naira weakens to fresh 20-month low
Nigeria’s naira weakened to a fresh 20-month low against the U.S. dollar on the interbank market on Friday, as direct central bank forex sales to lenders failed to meet demand, traders said. The naira closed at 164.1 to the dollar, compared with a 163.6 close on the previous day. The […]
