Friday, July 17, 2020
Nine of the nation’s 27 power plants were idle on Thursday, leaving a total generation capacity of 2,079.1 megawatts stranded. Total power generation in the country stood at 3,269.6MW as of 6am on Thursday, up from 3,074.6MW the previous day…Read more.
The Federal Government on Thursday inaugurated a campaign strategy team for Dr Ngozi Okonjo-Iweala as she contests for the position of Director-General of the World Trade Organisation…Read more.
The country’s foreign reserves fell by $454.05m from $36.57bn on June 1 to $36.12bn on July 15, the latest figures from the Central Bank of Nigeria showed on Thursday. The CBN, in its February monthly report, entitled…Read more.
To address the issue of outrageous billing that has continued to plague the electricity distribution sub-sector, and the numerous complaints by consumers, Nigerian Electricity Regulatory Commission (NERC), had repealed…Read more.
This investment plan describes the investment, cost and benefits of setting up a packaged Plantain Flour factory. The factory will produce branded wholesome 1kg plantain flour and sold in the Nigerian market…Read more.
The Society for Forensic Accounting & Fraud Prevention (sfafp) has revealed that Nigeria loses N2.5 trillion yearly to fraud and corruption. For the African continent, the society stated that almost 25 per cent of its budgeted public sector revenue is lost to the same scourge….Read more.
Central Bank of Nigeria (CBN) in the first three months of 2020 sold the highest foreign currencies in six years. Foreign currency sales reached $11 billion in the first quarter (Q1), 64 percent more than the apex bank sold in the same period last year…Read more.
Dangote Group’s fertilizer plant, now under construction in Nigeria’s biggest city of Lagos, will be ready to start production next year, the builders, Saipem SpA said in a report by Bloomberg. Owned by Aliko Dangote…Read more.
The rate at which commodity items are sold in Nigeria rose to 12.56 percent in the month of June, to record its biggest jump since April 2018. The increase in the headline inflation for the month…Read more.
Governments across all levels have been urged to intensify efforts to save small and medium sized enterprises (SMEs) in the country. This, is because SMEs are generally vulnerable as they have little capacity to withstand shocks, considering the magnitude of losses the coronavirus pandemic has inflicted on businesses…Read more.
Stakeholders in the non-oil export business have asked the government to focus on addressing challenges in the domestic market so as to boost the country’s potentials to export and earn foreign exchange…Read more.
The Nigerian Stock Exchange (NSE), yesterday listed the Axxela Funding 1 Plc’sN11.5 billion Series 1, 14.3 per cent Fixed Rate Bond due 2027. Axxela recently raised the bond under its N50 billion Issuance Programme…Read more.
The Development Bank of Nigeria (DBN) has described Credit Guarantees Schemes (CGS) as veritable instruments to alleviate the credit constraints faced by micro, small, medium and enterprises, MSMEs…Read more.
The Nigeria Deposit Insurance Corporation (NDIC) and the Central Bank of Nigeria (CBN) are on collision course over authority to manage distressed banks in the country…Read more.