Friday, July 24, 2020
COVID 19: How human rights suffocate under curbing measures
After President Muhammadu Buhari relaxed the month-long restriction on movement in Lagos, basic human rights have been trampled under strokes of several violations, leaving adverse toll on Nigerians, Temitayo Ayetoto reveals. Adeoye Quadri is one of several Nigerian youths squarely facing the economic challenges posed by the reality of COVID-19. Read more
EXPLAINER: Inflationary pressures and how they are still pinching pockets of Nigerians
Nigeria’s headline rate has remained at double-digit levels since February 2016. According to analysts as FBNQuest, this year the highest increase in headline inflation has been 16bps in June while January, February and April registered rises of 15bps, 7bps and 8bps, respectively. Food inflation has been the primary driver of acceleration in the headline rate. Read more
We’ve identified plans to generate N18tn revenue – FG
The Federal Government on Thursday said it had identified oil and non-oil initiatives that could help the country generate between N13tn to N18tn and achieve its 15 per cent revenue to Gross Domestic Product target. It also stated that states would need to generate N3.4tn to realise this, adding that the COVID-19 pandemic had brought to the fore the need and urgency to further diversify the sources of government revenue. Read more
Nigeria lost $1.4bn to chemical importation in 2019 – NARICT
The Director-General, National Research Institute for Chemical Technology, Zaria, Prof. Jeffrey Barminas, said that Nigeria lost $1.4bn to importation of chemicals in 2019. He made the disclosure on Thursday at an interactive session in Abuja with the Senate Committee on Science and Technology chaired by Sen. Uche Ekwunife. Read more
LCCI, expert worry as debt profile rises by 127%
Stakeholders in the economy have expressed worry over the capacity of the country to service its rising debt profile. In an interview with our correspondent, the Director-General, Lagos Chamber of Commerce and Industry, Dr Muda Yusuf, said the growing national debt was a cause for concern. Read more
Naira weakens further as dominant currencies alter pricing decisions
With many trade transactions benchmarked against dominant currencies like the U.S. dollar, the International Monetary Fund (IMF), has expressed concerns that currency movements pose great challenges to developing countries’ domestic economy, especially trade. Read more
Strong risk management, business plan lift United Capital H1 2020 profit
United Capital Plc has attributed the increase in profit in its unaudited result for the half year ended June 30, 2020, to the twin effects of strong risk management framework, articulated business plan. Read more
NSE to Support Champion Breweries for Improved Performance
The Chief Executive Officer (CEO) of the Nigerian Stock Exchange (NSE), Mr. Oscar Onyema, has assured the leadership of Champion Breweries Plc that the exchange will remain a trusted business partner in achieving the strategic business objectives of the brewing firm. Read more
