|Thursday, March 26, 2020|
Nigeria’s refineries under the management of the Nigerian National Petroleum Corporation incurred a total expense of N218.18bn in 2019. The refineries, namely Kaduna Refining and Petrochemical Company, Port Harcourt Refining Company and Warri Refining and Petrochemical Company, recorded a cumulative loss of N149.23bn last year…read more.
The world’s biggest oil and gas companies are slashing capital spending this year following a collapse in oil prices driven by a slump in demand because of coronavirus and a price war between the Saudi Arabia and Russia. Cuts already announced by five major oil companies, including….read more.
The Federal Government on Wednesday announced that it had cut its revenue target from privatisation by 50 per cent.The Minister of Finance, Zainab Ahmed, made the announcement in a meeting between the executive arm of government and the leadership of the National Assembly in Abuja….read more.
Telecoms operators have asked the Federal and state governments for right of passage in the event of foreseeable lock down of the country. Under the aegis of the Association of Telecommunications Companies of Nigeria (ATCON), the operators said the request became necessary because of the essential….read more.
The International Monetary Fund (IMF) has stated that what began as a health crisis and now a major global economic crisis, may have substantial economic impact on Nigeria and other sub-Saharan African countries….read more
The International Air Transport Association (IATA) and its members yesterday renewed their call on governments to take urgent measures to ensure that vital air cargo supply lines remain open, efficient and effective….read more.
Negative outlook for forex, jobs, prices By Elizabeth Adegbesan Economy The Consumers’ confidence in the economy has taken a huge decline by 3.0 index point to 0.3 index point in the first quarter of this year (Q1’20) from 3.3 index point in Q4’19….read more.
A survey of 119 companies from March 13 to 18 by the Beijing-based American Chamber of Commerce in China found that the proportion of respondents saying they are experiencing significant revenue declines increased to 50%, up from 28% last month. To read other featured articles by our research team, please click on any of the articles below….read more.
Initial jobless claims figures are due at 8:30 a.m. ET along with fourth-quarter GDP growth and PCE inflation data.
The Senate approved a $2 trillion fiscal stimulus package Wednesday night in a bid to shore up the economy as the coronavirus pandemic continues to spread….read more.
As the COVID-19 continues to ravage the entire world, the International Telecoms Union (ITU) and governments of global economies, have resolved to strengthen telecoms operators’ networks across countries, while advising the operators to increase their network capacities during this period of the scourge…read more.
The March 2020 Business Expectations Survey Report by the Central Bank of Nigeria (CBN) has revealed respondents’ optimism on the macroeconomy in March. The report posted on the CBN’s website, showed that the survey was conducted between March 9th and 13th, 2020 with a sample size of 1,050 businesses nationwide….read more.