Nigeria plans to raise between 129.75-239.75 billion naira ($1.49 billion) in 10-year sovereign bonds in the first quarter of the year, the Debt Management Office (DMO) said on Thursday, a major step to plug the revenue gap in 2012.   The debt office said it would auction between 79.75-99.75 billion […]

Housing starts fell in December as groundbreaking on rental property posted a big decline, splashing some cold water on hopes the still-weak housing sector could boost economic growth this year. The Commerce Department said on Thursday housing starts fell 4.1 percent to a seasonally adjusted annual rate of 657,000 units. […]

The naira strengthened against the United States dollar at the inter-bank market on Wednesday, supported by dollar sales by local unit of Royal Dutch Shell and Nigerian Liquefied Natural Gas company to some banks. The local currency closed at N161.55 to the dollar, stronger than N162.70 to the dollar at […]