Friday, October 23, 2020 #EndSARS: Economy takes hit as crisis grounds businesses The Nigerian economy is bleeding as the ongoing #EndSARS crisis in many parts of the country grounds millions of businesses that are yet to fully recover from recent COVID-19 lockdowns. A peaceful protest against a rogue police unit known as Special Anti-Robbery Squad…
Thursday, October 22, 2020 How #EndSARS crisis may impact Nigerian financial markets, economy A slide in investments into the country, government revenue, and consumer confidence are some of the negative outcomes the EndSARS crisis could have on the financial markets and the already worsening economy, according to analysts polled by BusinessDay. Businesses shut down, lives…
Wednesday, October 21, 2020 PAN’s new investor plans $150m injection in retooling, upgrading plant Nesbitt Investment Limited, new owner and core investor in PAN Nigeria Limited, says it plans to inject $150 million into the automobile assembly plant over the next three years. This was disclosed Monday by Wadada Aliyu, the new chairman of PAN…
Tuesday, October 20, 2020 Listed insurers see half-year profit surges on investment income Profits of the largest listed insurers on the Nigerian Stock Exchange (NSE) have surged even amid the wrought caused by the coronavirus pandemic (Covid-19), thanks to yields on investable funds that compensated for unfavourable underwriting conditions. For the first six months through…
Friday, October 16, 2020 T-bills yields shrink to 2% as investors post record N493bn unsuccessful bids More than N493 billion worth of unsuccessful transactions were recorded at the Nigerian Treasury Bills (T-Bills) auction conducted Wednesday by the Central Bank of Nigeria (CBN) on behalf of the Federal Government of Nigeria (FGN), as excess liquidity drags…
Thursday, October 15, 2020 Nigerian Banks need 4%-5% growth to avoid bad-debt spike, EFG says Nigeria’s economy is poised to expand at less than half the pace needed by banks next year to avoid a spike in unpaid loans. The 2021 outlook for sub-Saharan Africa’s largest economy was cut to the growth of 1.7% by…
Wednesday, October 14, 2020 FG will double Nigeria’s airports by 2023 – Minister The Federal Government on Tuesday declared that it would double the number of airports across Nigeria by 2023. Nigeria has about 31 airports currently. The Federal Airports Authority of Nigeria operates 26 of the facilities, while others are largely run by states…read…
Tuesday, October 13, 2020 Buhari assures Okonjo-Iweala of support to clinch WTO job The President, Major General Muhammadu Buhari (retd.), on Monday assured former Minister of Finance and Economy, Ngozi Okonjo-Iweala, that he would do all within his power to ensure that she became the Director-General of World Trade Organisation…read more. Dangote refinery, others threaten…
Monday, October 12, 2020 Consumers paid N76.5bn extra for petrol after deregulation – Investigation More than N76.5bn has been paid for the purchase of petrol by consumers since the downstream oil sector was deregulated in March this year, Okechukwu Nnodim reports…read more. Nigerian insurance industry’s asset rises to N1.8tn The Nigerian insurance industry’s assets rose…
Friday, October 09, 2020 World Bank backs FG on petrol subsidy removal The World Bank said on Thursday that the removal of petrol subsidy in Nigeria was an important step amid the COVID-19 crisis…read more Manufacturers’ unpaid export grants hit N1.29tn The Federal government owes exporters N1.29tn in outstanding export expansion grant for three years.…