Tuesday, June 30, 2020 Nigeria in panic mode as World Bank insists on FX rates unification before disbursing agreed $1.5bn Senior government officials were involved in consultations last night as they try to come up with a game plan to untie an agreed $1.5bn loan support from the World Bank which the country badly needs…
Monday, June 29, 2020 States’ inability to tap capital market could see another rush for FG’s bailout The inability of most state governments to raise debt instruments from the capital market amid declining revenues could see a rush for another round of bailout from the Federal Government, according to views of a wide spectrum of…
Friday, June 26, 2020 Nigerian banks face higher risk as recession beckons, says World Bank Nigeria’s banking system is at risk of being destabilised as the coronavirus pandemic triggers what might be the worst recession in four decades for Africa’s largest economy, according to the World Bank. If the spread of the virus eases and…
Thursday, June 25, 2020 Nigeria’s rating at risk as debt, financing gap rise-Fitch A sharp rise in Nigeria’s sovereign debt and a ballooning financing gap could trigger a rating downgrade as policymakers in Africa’s biggest economy struggle to deal with the fallout from a coronavirus-induced oil price crash, a director at Fitch said. The global…
Tuesday, June 23, 2020 Japaul Oil changes name as it tests market with N27bn offers Barring any unforeseen circumstances, Japaul Oil & Maritime Services Plc will change its official name to Japaul Gold and Ventures Plc at the forthcoming 15th Annual General Meeting which will come up on July 29, 2020 in Lagos. Other ordinary…
Monday, June 22, 2020 Global gas glut leaves Nigeria’s LNG unsold, threatens N80bn dividend Dividend accruable to cash-strapped Nigeria from Liquefied Natural Gas (LNG) is under threat, a development that might adversely affect its Economic Sustainability Plan to improve crumbling infrastructure and poor services in Africa’s largest economy. In Nigeria, the natural gas sector is…
Friday, June 19, 2020 FG designates seven minerals to boost economy The Minister of Mines and Steel Development, Mr Olamilekan Adegbite, says the Federal Government has designated seven of the country’s strategic minerals to unlock the potential in the mining sector…Read more. Farmers, processors, others to get N432bn –CBN The Central Bank of Nigeria on…
Thursday, June 18, 2020 Nigeria, others expect oil market to recover in H2 Nigeria and other members of the Organisation of Petroleum Exporting Countries have said the global oil market will recover in the second half of this year…Read more. Naira slumps to 452/$ as speculations, debt weaken market The dollar exchanged for N452 at…
Wednesday, June 17, 2020 Nigeria’s economy seen in sharp plunge in Q2 with 91% of sectors trodden by virus Nigeria’s economy is forecast to see a sharp plunge in the second quarter (Q2) of 2020 with 91 percent of sectors ravaged by the coronavirus pandemic, according to early estimates by Yemi Kale, the country’s chief…
Tuesday, June 16, 2020 Nigeria’s fiscal headache goes from bad to worse Nigeria may be facing a deeper fiscal crisis than expected with data from the budget office showing that the Federal Government spent N99 of every N100 earned paying interest to creditors in the first quarter of 2020…Read more. Nigerians stuck with cash transactions…