Monday, June 15, 2020
Nigeria’s FX demand backlog near 2016 crisis levels of $7bn
Nigeria is facing a $7 billion FX demand backlog that is rolling back ugly memories of the dark days of 2016 when manufacturers and investors were starved of dollars leading to a near collapse of the economy…Read more.
FG defaults in pension remittance for six years
Workers have continued to suffer decline in their retirement benefits over the Federal Government’s delay in implementing the mandatory 18 per cent monthly emolument remittance into employees’ pension accounts….Read more.
DPR releases oil sector survival strategic plan
The Department of Petroleum Resources has outlined some strategic plans that would guarantee the survival of Nigeria’s oil industry post COVID-19 pandemic…Read more.
Dangote Cement begins clinker exports, targets four million tonnes
Dangote Cement Plc said on Sunday that it had set the pace with the exportation of 27,800 metric tonnes of clinker to a neighbouring African country, Senegal…Read more.
Worsening poverty, risk to democracy, security – LCCI
The Lagos Chamber of Commerce and Industry says the worsening poverty in the country posed a great deal of risk to Nigeria’s democratic process and security…Read more.
Nigeria’s Fintechs project $543 million revenue growth in two
The number of fintech companies in Africa grew at a yearly rate of 24 per cent between 2009 and 2019, fuelled mostly by Nigeria, Kenya and South Africa. This is even as is projected that Fintech revenues in Nigeria will grow from $153million in 2017…Read more.
Insurers move to aid environment protection awareness in workplace
To further cope with the challenges posed by the outbreak of the coronavirus, especially in Nigeria, insurance operators have expressed commitment to promoting environmental protection awareness to mitigate the negative impact of the virus in the workplace…Read more.
Dangote exports Clinker abroad, boosts FG’s forex drive
To reaffirm its status as the biggest cement producer in Africa, Dangote Cement has set the pace with the exportation of 27,800 metric tonnes of clinker to a neighbouring African country. With this historic maiden voyage from its Export Terminal located in Apapa Port, Lagos weekend…Read more.
Manufacturers hit by naira volatility as input costs spike
Nigerian manufacturers say weakness of the naira against the dollar is hitting hard on them as costs of imported raw materials rise amid the spread of the deadly COVID-19…Read more.
Nigerian Democracy: Gains and pains 21 years after
When on May 29,1999 the military junta led by Abdulsalam Abubakar made good its promise of handing over power to a democratically elected government, quite a good number of Nigerian young men had visions while the old folks dreamed dreams of a peaceful and prosperous future….Read more.
FBN Holdings Consolidates Leadership through Divestment
FBN Holdings’ transfer of its majority equity in FBN Insurance to the Sanlam Group is a boon to its operations while cementing leadership of the banking sector…Read more.
FG Approves N13bn for Pest Control
The federal government has approved the sum of N13 billion intervention fund for pest control across the country.The fund is to ensure uninterrupted agricultural activities during 2020 farming season, control trans boundary pests and minimise the impact of the COVID – 19 pandemic…Read more.
Ecobank Partners African Union
The AUDA-NEPAD (the African Union Development Agency) and Ecobank Group have announced that they are committing resources to Africa’s micro, small and medium scale enterprises (MSMEs)…Reach more.
Obu-Okpella Mines: Court restrains Dangote, Police from interfering in BUA’s operations
A Federal High Court in Benin City, Edo State has restrained Dangote Industries and the Nigerian Police Force from interfering with BUA Group’s operations of the disputed Okpella mining sites in Okpella, Edo State…Read more
Coronavirus crisis puts Nigeria’s corrupt fuel subsidy system in spotlight
A fuel pump (stock photo). Plunging oil prices and collapsing state revenues have seen Nigerian authorities vow an end to a controversial fuel subsidy scheme long criticised as a graft-ridden drain on public finances…Read more
