Tuesday, July 07, 2020
PwC Nigeria has said the headline inflation in Nigeria will average 12.2 per cent in 2020, compared to 11.4 per cent last year. The firm said this on Monday in a new report titled ‘Demand and supply shocks from COVID-19 keep inflation higher for longer’…Read more.
The Central Bank of Nigeria debited N122bn ($338m) from banks’ excess cash with the apex bank before weakening the currency at a retail auction on Friday in a move to unify its multiple exchange rates….Read more.
The Central Bank of Nigeria injected $11.5bn foreign exchange into the economy in the first three months of 2020. Latest figures from the CBN on the supply of forex showed that $2.96bn, $3.39bn and $4.7bn were injected into the market in January, February and March respectively…Read more.
In a letter to the Nigerian Electricity Regulatory Commission (NERC) dated June 29, distribution companies (DisCos) noted that COVID-19, debt-laden balance sheet, stringent rules on remittance and the introduction of an untested tariff model further weakened electricity market…Read more.
The new Director General of the Securities and Exchange Commission (SEC) Lamido Yuguda has resumed work, stating that the capital market has a lot of potentials for growth and development of Nigeria post COVID-19 and beyond…Read more.
Nigerian Content Development and Monitoring Board (NCDMB), and some private investors may reduce unemployment in Nigeria by 1,500, and limit the importation of Premium Motor Spirit (PMS) also called petrol through a new investment worth N10 billion ($25 million)….Read more.
As countries continue to recover from the impacts of COVID-19 pandemic, a new guide by Sustainable Energy for All (SEforALL), shows investment in clean energy would boost efforts by countries, and help them recover from the adverse effects of the disease…Read more.
Experts in Nigeria’s business sector have called for more adoption of digital channels in running business activities, saying it would help cushion the effects of the Coronavirus (COVID-19) pandemic, and boost the nation’s economic recovery post-COVID-19…Read more.
Champion Breweries Plc has bounced back into profitability, recording total comprehensive profit of N96 million for 2019 financial year as against a loss of N165 million in 2018…Read more.
The board of Vodacom Business Africa (Nigeria) Limited has appointed Valentine Chime as the Managing Director for its operations. Chime, joins the Company from Aruwa Capital, a private equity company investing across West Africa…Read more.
PNG Gas Limited, operators of Egbaoma Gas Processing Plant, is pleased to announce the achievement of two million man-hours without a lost-time incident (LTI), spanning over six years of operations as at 12th June 2020…Read more.