Thursday, July 09, 2020 Reps decry unending power sector crisis, failed privatisation The House of Representatives has decried the perennial crisis in Nigeria’s power sector. They, at the beginning of a two-day investigative hearing on the Nigerian Power Sector in Abuja on Wednesday, also declared that various efforts by successive governments to resolve the issues…
Wednesday, July 08, 2020 China reversing Nigeria’s infrastructural deficit, says Buhari The President, Major General Muhammadu Buhari (retd.), on Tuesday lauded what he called China’s contributions towards the reversal of infrastructure deficit in Nigeria. He said such contributions were visible in the areas of rail, roads, airports and power…Read more. FG, states, LGs should publish…
Tuesday, July 07, 2020 Nigeria’s inflation’ll average 12.2% in 2020, says PwC 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…
The impact of COVID-19 on global Trade The COVID-19 pandemic is causing the worst contraction in global trade in the post-war era and it has had negative impact on activities in the Half year 2020 than anticipated, the pandemic is likely to leave lasting scars on the global economy by threatening investor confidence and human…
Monday, July 06, 2020 CBN’s snail-paced exchange rate unification frustrates investors Central Bank of Nigeria (CBN) may have taken an extra step towards unifying its multiple exchange rates eventually by devaluing the naira at one of its currency intervention sales Friday, but investor’s confidence remains abysmal…Read more. Market constraints, estimated billing, debts top DisCos’ concerns…
Friday, July 03, 2020 Nigerian banks bleed amid world’s highest cash reserves For every N100 deposit held by Nigerian commercial banks, about N60 idles away with the central bank as regulatory reserves earning zero interest. This means lower profitability for lenders and then stifling access to finance for millions of small businesses in Africa’s largest…
Thursday, July 02, 2020 Why we are against increasing electricity tariff now – DisCos Though the current electricity tariff charged customers is lower than the cost, electricity distribution companies (DisCos) who have always called for an increase say they will back the new tariff plan if problems with collections and technical losses are resolved. The…
Wednesday, July 01, 2020 Saudi Prince Calls Buhari Amid OPEC’s Push for Oil Cuts Saudi Arabia, de facto leader of the OPEC cartel, held a call with fellow member Nigeria as the organization strives to deliver production cuts aimed at bolstering global crude markets, according to Bloomberg. Saudi Crown Prince Mohammed bin Salman and Nigerian…
Tuesday, June 30, 2020 Nigeria in panic mode as World Bank insists on FX rates unification before disbursing agreed $1.5bn Senior government officials were involved in consultations last night as they try to come up with a game plan to untie an agreed $1.5bn loan support from the World Bank which the country badly needs…
Monday, June 29, 2020 States’ inability to tap capital market could see another rush for FG’s bailout The inability of most state governments to raise debt instruments from the capital market amid declining revenues could see a rush for another round of bailout from the Federal Government, according to views of a wide spectrum of…