| Monday, February 17, 2020 Power sector loses N19.15bn in 10 days The nation’s power sector lost an estimated N19.15bn in 10 days due to constraints from insufficient gas supply, distribution and transmission infrastructure. The losses were recorded in the 10 days to February 14, 2020, according to data from the Advisory Power Team in the Office of the Vice President….read more CBN to offer single-digit loans to rice farmers The Central Bank of Nigeria said it would offer single-digit loan to rice farmers in the Niger Delta area and provide index insurance for participating farmers. This was contained in a statement signed by the Head, Press and Public Relations at the Ministry of Niger Delta Affairs, Patricia Deworitshe….read more. Power sector loses N19.15bn in 10 days The nation’s power sector lost an estimated N19.15bn in 10 days due to constraints from insufficient gas supply, distribution and transmission infrastructure. The losses were recorded in the 10 days to February 14, 2020, according to data from the Advisory Power Team in the Office of the Vice President…..read more. Nigeria, other African countries’ debts raise new fears The pace of debt accumulation by the continent’s economies, with particular reference to the sub-Saharan Africa (SSA), where Nigeria assumes the biggest economy, rose by 40 per cent…read more. Amid reforms, concerns mount over migration, low patronage of foreigners For a long time, the equities sector of the Nigerian capital market was driven by huge patronage from foreign investors. Like most other emerging markets in Africa, foreign investors saw the Nigerian market as a fertile ground and believed that it held a lot of promises….read more. IFRS 17 to boost insurance sector’s global competitiveness The insurance sector in Nigeria has the opportunity to compete with the peers around the globe once the much anticipated IFRS 17 is integrated, effective January 1, 2022. This was disclosed by experts and industry regulators at the Deloitte IFRS 17 Breakfast Meeting, held in Lagos…read more. AfDB Refutes W’Bank President’s Comments on Africa’s Debts Malpass, was recently quoted as saying some multilateral development banks, including the AfDB, have a tendency to lend too quickly and in the process, add to the continent’s debt problems….read more. Stakeholders to Review Border Closure The Lagos Chamber of Commerce and Industry (LCCI) is set to hold a roundtable on the border closure and its impacts on businesses viz-a-viz the economy. The event is aimed at examining the effects of the policy on the sectors of economy as well as coming up with sustainable solutions to present to government on the issue….read more. Group Organises Forum on NIN The Convention on Business Integrity/The Integrity Organisation in collaboration with ActionAid, and other partners are set to hold the sixth series of their regulatory conversations (RC6.0), with the theme: “National Identity Number: Matters Arising and Implications to Nation-building.”…..read more. Consumer sentiment rises in February even amid the coronavirus outbreak The University of Michigan’s consumer sentiment index came in at 100.9 for February. Economists polled by Dow Jones expected February consumer sentiment to come in at 99.5. Richard Curtin, chief economist for the Surveys of Consumers, noted the coronavirus outbreak is still not a major concern for consumers….read more. US deficit surges 25% in fiscal 2020 and is $1.1 trillion over the past year The budget deficit for the first four months of fiscal 2020 is $389.2 billion, the Treasury Department reported. That’s a 25% gain from the same period a year ago. Over the past 12 months, the gap has been nearly $1.1 trillion as the national debt has swelled past $23 trillion…..read more. |