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…
Thursday, July 23, 2020 Cotonou now choice exit route for Nigerians travelling to Europe, US Nigerians now travel to Europe and the US through Cotonou, Benin Republic, as Nigerian airspace remains shut to international flights till further notice, BusinessDay findings show. Checks show that travelers have been going out of the country, as scheduled commercial…
Wednesday, July 22, 2020 CBN’s benign economic outlook for Q2 deviates from consensus expectations Nigeria’s central bank had a more benign outlook for economic growth in the second quarter (Q2) 2020 than the expectations of many economists, and even the local finance ministry. The Central Bank of Nigerian (CBN) expects economic growth to decline by…
Tuesday, July 21, 2020 Manufacturers invest billions in local raw materials as FX scarcity hurts Manufacturers are pumping billions of naira into local raw materials sourcing as foreign exchange (FX) scarcity continues to hurt their capacity to import inputs. FX crunch due to oil price lows since 2014 has disrupted productions and projections, forcing 54…
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…
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…