Friday, April 24, 2020 N50bn CBN loans to SMEs, others end 2024 The Central Bank of Nigeria has set December 31, 2024 exit date for its intervention loans to the Small and Medium Enterprises and households aimed at cushioning the effects of coronavirus on businesses and the people. It also gave December 31,…
It is no news that Headline Inflation have maintained an upward trend, owing to underlying factors that affect the economy. The Headline Inflation recorded a seventh consecutive rise to 12.26% in March,2020. This is an increase of 0.06 percent points from 12.20% recorded in the previous month. Interstate wise, the highest rise was seen in…
Monday, April 20, 2020 Nigeria, others need $114bn to fight COVID-19, says IMF Nigeria and other African countries need an estimated $114bn to fund the campaign against the outbreak of the coronavirus disease on the continent. This was disclosed in a statement posted on the website of the International Monetary Fund…
Friday, April 17, 2020 Gencos, Discos deny knowledge of FG’s N200bn payment Power generation and distribution companies on Thursday said they were unaware of any N200bn that was paid to the power sector by the Federal Government in the past three days. Group Managing Director, Nigerian National Petroleum Corporation, Mele Kyari, had…
Monday, March 30,2020 We’ll sustain power transmission despite COVID-19 – TCN workers Employees of the Transmission Company of Nigeria branch of the Senior Staff Association of Electricity and Allied Companies on Sunday vowed to sustain the evacuation of electricity despite challenges posed by the spread of coronavirus…read more. LDR: Bank loans rise by N2.35tn Despite…
Friday, March 27, 2020 CBN suspends forex sales to BDCs over pandemic The Central Bank of Nigeria has granted a two- week market holidays to the Bureaux De Change operators.This followed a request by the Association of Bureaux De Change Operators of Nigeria to the CBN for the regulator to grant it market holidays…
Thursday, March 26, 2020 NNPC spent N218.18bn on ailing refineries in 2019 Nigeria’s refineries under the management of the Nigerian National Petroleum Corporation incurred a total expense of N218.18bn in 2019. The refineries, namely Kaduna Refining and Petrochemical Company, Port Harcourt Refining Company and Warri Refining and Petrochemical Company, recorded a cumulative loss…
Wednesday, March 25, 2020 COVID-19: Massive economic crises loom, says CBN The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday said the outbreak of the coronavirus pandemic would lead to massive economic crisis capable of throwing many countries into recession….read more. COVID-19: Reps propose duty waivers, new tax regime…
Tuesday, February 25, 2020 At 2.55% in Q4, Nigeria Records Highest Economic Growth Since 2016 Nigeria’s economic growth rate rose to 2.55 percent in the fourth quarter of 2019, its highest quarterly growth since the 2016 recession, according to a report released yesterday by the National Bureau of Statistics (NBS)….read more. Manufacturing declines as 2.27%…