By Hamilton Nwosa(Head, The New Diplomat's Business and data tracking desk) The New  Diplomat  is setting  the  pace  in  a first part Introductory  diagnosis of the Nigerian Economy in a post-covid-19 era. This special  digital publication would be preceded by a distinguished panel of  economic  and policy experts that would engage in a conversation on…
By Hamilton Nwosa(Head, The New Diplomat’s business and data tracking desk)  Inspired by its encouraging performance in terms of growth, effectiveness and organizational efficiency, the United Bank for Africa Group(UBA) Plc, a frontline  Pan African financial institution, has  unveiled a profit-before-tax of N32.7 billion in the first three months of 2020. Group Managing Director/CEO of…
The oil price crash isn’t getting any easier for Nigeria Late on Monday, the nation released the prices for most of its crude oil grades for sale in May. The figures reflect an urgent need to offload cargoes in what is a highly competitive marketplace. Even so, traders cautioned that the prices $10 a barrel…
First Bank: We Mourn As We Shut Down Kano Office By Hamilton Nwosa(Head, The New Diplomat’s Business and data tracking desk) A Regional Manager with First Bank of Nigeria in Kano, Abdullahi Lawal has died of suspected complications arising from COVID -19 infection. Family members revealed that the late banker  who suddenly took ill on…
By Hamilton Nwosa ( Head, The New Diplomat’s Business and data tracking  desk) Despite Saudi Arabia, Russia, United States, Nigeria, and 19 other countries historic deal, which slashed  production by 9.7million barrels per day, ended Saudi-Russia stand-off, and resolved  Mexico-Saudi’s face-off, Oil price  is still tumbling down to approximately  $17 per  barrel. United States oil…
By Hamilton Nwosa(Head, The New Diplomat’s Business and data tracking desk) Minister of State for Petroleum Resources, and former governor of  Bayelsa State, one of Nigeria’s oil-rich State,  Chief Timipre Sylva  has pledged  Nigeria’s readiness and commitment to  deliberations on output cut  as proposed by the Organization of Petroleum Exporting Countries (OPEC ). The proposed  talks is scheduled  for next Thursday . In…
These are very difficult days, as the world faces one of its worst challenges ever: the novel coronavirus pandemic. And it seems almost no nation is spared. As infection rates rise, so does panic across financial markets, as economies drastically slow down and supply chains are severely disrupted.  Extraordinary times call for extraordinary measures. As…
S & P Downgrades Nigeria’s Outlook as Fitch Affirms Norway By Hamilton Nwosa (Head, The New Diplomat Business & data tracking desk) With escalating glut in oil supplies and stretched storage capabilities, exacerbated by Saudi Arabia increase in oil production even in the face of dwindling global demand, global energy experts have come up with…
By Hamilton Nwosa(Head, The New Diplomat’s Business and data tracking desk) Central Bank of Nigeria Governor, Mr Godwin Emefiele on Saturday, clarified that the recent jump in foreign exchange rate to N380 to a dollar is not a devaluation  of the naira but an adjustment. According to Mr Emefiele, the apex bank has the responsibility…
