The Nigerian National Petroleum Corporation said on Sunday that it sold a total of 21.51 billion litres of petrol worth N2.64tn from December 2018 to December 2019.The NNPC said the sale of white products from December 2018 to December 2019 by its subsidiary, the Petroleum Products Marketing Company, stood at 21.861 billion litres, with petrol accounting for 98.41 per cent….read more.
Russia never sought a sharp oil price fall or an end to cooperation with Organisation of Petroleum Exporting Countries, and the Gulf nations are to blame for the crisis on the global oil markets, a senior Russian official has said….read more.
The Securities and Exchange Commission has said that Collective Investment Scheme in the nation’s capital market may hit over N1.5tn before the end of this year.The CIS, also known as mutual funds, is an arranged pool of funds managed on behalf of investors by a professional money manager which may invest in ventures capital, portfolio of stocks, bonds and other securities….read more.
There are several reasons nations devalue their currencies. Some devalue currencies to combat trade imbalance. Others devalue their currencies to enable their exports become less expensive and competitive globally…read more.
The Nigerian equities market suffered another week of losses as worries about the impact of the coronavirus pandemic heightened with oil prices declining to 17-year lows lastweek….read more.
The Association of Bureaux De Change Operators of Nigeria (ABCON) has directed bureaux de change (BDCs) across the country to comply with the new official exchange rate of N380 per dollar as well as other provisions of the new foreign exchange regime….read more.
Abuja Bureau Chief The Federal Inland Revenue Service, FIRS, collected tax revenue of N338.1 billion in January. The figure was slightly above average as against a tax revenue target of N620.2 billion for the month under review. The Service was given a tax collection target of N8.5 trillion in 2020 fiscal year….read more.
STANBIC IBTC Holdings Plc has declared a profit after tax of N75 billion for the year ended December 31, 2019, an increase of 0.81 percent over N74.4 billion reported in 2018. Profit before tax for the year stood at N90.9 billion, representing a three percent increase compared N88.2 billion posted in 2018…read more.
MTN Nigeria on Sunday said its team would start working from home as part of the precautionary measures to stop the spread of COVID-19 Mr Funso Aina, the telcos Senior Manager, External Relations, said in a statement that from March 23, workers are expected to perform their duties from home…read more.
health ministry said as of 6 p.m. local time on March 22, at least 5,476 people have died due to COVID-19, the respiratory disease caused by the new coronavirus….read more.
The world’s second-largest economy was the first to grapple with the coronavirus after it emerged in late December. “While it’s true the crisis isn’t over for China, (there are) lessons that can be learned from China,” Helge Berger, China mission chief and assistant director in the Asia and Pacific department at the International Monetary Fund, said in a phone interview Friday….read more.
“The UAE government has called upon the public to stay at home unless it’s absolutely necessary to get essential supplies, such as food and medicine, or perform essential jobs,” UAE state news agency WAM said in a statement Monday morning….read more.