Wednesday, September 09, 2020
The Electricity Meter Manufacturers Association of Nigeria (EMMAN), has appealed to the Federal Government to review its decision on one-year deferment of the 35 per cent import levy on electricity meters in order to promote local content in the manufacturing of pre-paid meters…read more.
The Federal Government said it would encourage state governments to invest in mining activities to increase their revenue base, and create employment and wealth for the people…read more.
Although the Purchasing Managers’ Index (PMI) for August 2020, rose to 48.5 points, against 44.9 points in July, economic activities in the manufacturing sector still remain in slow recovery, and may fuel a third quarter contraction by the end of September…read more.
The Federal Government’s outstanding as of March 31 stood at the N24.52tn (excluding the states and the Federal Capital Territory Administration), the Central Bank of Nigeria has said…read more.
The Economic Community of West African States has postponed the planned launch of its single currency, the Eco. The body agreed to maintain a gradual approach for the launching of the currency. ECOWAS explained that a new date for the launch would be announced later…read more.
Foreign exchange inflows into the country fell to $5.52bn in May, the latest figures from the Central Bank of Nigeria have shown. The CBN stated in its report on foreign exchange flows on in its May report …read more.
The world’s rush to find a vaccine for the deadly coronavirus is being slowed down after AstraZeneca Plc stopped giving shots of its experimental vaccine after a person participating in one of the company’s studies got sick…read more.
Plans by the power sector regulator to provide meters to Nigerians appear doomed even before they have started because of a plethora of reasons among them the revelation that majority shareholders at most of the electricity distribution companies…read more.
Removing subsidy on petrol has always led to protests by those who are opposed to it. They claim to be championing the cause of less privileged Nigerians. The Labour unions, which are always at the forefront of opposition in this matter often turn blind eyes…read more.
The equities gain recorded last week on the Nigerian Stock Exchange, NSE has rebounded as investors lose N57 billion in the two days trading session. Consequently, the major equities benchmark, NSE All-Share Index, ASI down by 108.32 points or 0.42 per cent to close yesterday at 25497.32 points from 25605.64 on Friday…Read more.
CBN Emma Ujah The Central Bank of Nigeria (CBN) has explained how it took several measures to protect the economy from extra-ordinary shock, as a result of the COVID-19 pandemic. It faulted the Nigerian Economic Summit Group (NESG) for criticizing its policies, without engaging with…Read more.
There are indications that the Presidency is pressurizing ministries and departments of the Federal Government to begin implementation of the N2.3 trillion stimulus package earmarked to tackle the economic distortions and hardships caused by the COVID-19 pandemic…Read more.
Ecobank Nigeria, a member of the pan African banking Group has concluded plans to host its first Regional Trade Conference. The virtual forum with the theme “Facilitating Regional Trade in the emerging AFCFTA era” is slated for the 22nd of September…read more.
The Akwa Ibom Oil Producing Community Development Network (AKIPCON) has demanded payment of compensation from Exxonmobil for communities affected by the negative impact of gas flaring on social and economic needs of the people…read more.
Kwara State government would soon commence the full implementation of the International Public Sector Accounting Standards (IPSAS) in the state. Already, the state executive council has awarded the contract for the provision of comprehensive IPSAS Implementation…read more.