This tag is associated with 13 posts

Oil Prices And The Impact On African Economies

Impact of the decline in oil revenue prompts austerity measures in high producing states. . By Abayomi Azikiwe Editor, Pan-African News Wire During 2014 many western-based financial publications declared that the Federal Republic of Nigeria had surpassed the Republic of South Africa as the largest economy on the continent. Nigeria relies heavily on oil exports … Continue reading

Nigerian Banks More Exposed Than Russian Banks To Fall In Oil Prices

Nigerian banks are more exposed than Russian banks to the fall in oil prices, Bloomberg reported on Thursday. Nigeria’s largest lender, First Bank, and also Guaranty Trust Bank are two Nigerian banks that have the most at stake as oil prices tumble and thus strain Africa’s largest crude producer. In Nigeria, oil firms account for around … Continue reading

Oil’s Slide Drags Nigeria ETF Into Bear Market

By Tom Lydon ETF Trends Nigerian stocks and a related country-specific exchange traded fund are trading in a bear market as the slump in the energy market pummeled Africa’s largest oil producer and a depreciating local currency scares away foreign investments. The Global X Nigeria Index ETF (NYSEArca: NGE) has plunged about 29% since its … Continue reading

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