Thursday, June 25, 2020 Nigeria’s rating at risk as debt, financing gap rise-Fitch A sharp rise in Nigeria’s sovereign debt and a ballooning financing gap could trigger a rating downgrade as policymakers in Africa’s biggest economy struggle to deal with the fallout from a coronavirus-induced oil price crash, a director at Fitch said. The global…
Details
Tuesday, June 23, 2020 Japaul Oil changes name as it tests market with N27bn offers Barring any unforeseen circumstances, Japaul Oil & Maritime Services Plc will change its official name to Japaul Gold and Ventures Plc at the forthcoming 15th Annual General Meeting which will come up on July 29, 2020 in Lagos. Other ordinary…
Details
Monday, June 22, 2020 Global gas glut leaves Nigeria’s LNG unsold, threatens N80bn dividend Dividend accruable to cash-strapped Nigeria from Liquefied Natural Gas (LNG) is under threat, a development that might adversely affect its Economic Sustainability Plan to improve crumbling infrastructure and poor services in Africa’s largest economy. In Nigeria, the natural gas sector is…
Details
Tuesday, June 09, 2020 World Bank projects Nigerian economy to shrink by 3.2% in 2020 Nigeria, Africa’s largest economy and most populous country, is expected to shrink by 3.2 percent in 2020, the World Bank Group said in its June 2020 Global Economic Prospects on Monday. This year’s contraction in activity is set to be…
Details
Monday, June 08, 2020 Oil Advances Near $43 After OPEC+ Extends Production Cuts Oil rose to trade near $43 a barrel in London after OPEC and its allies agreed to extend historic output curbs by an extra month, promising stricter compliance to ensure members don’t pump more than they pledged. Brent futures added as much…
Details
Friday, June 05, 2020 Buhari sponsors Okonjo-Iweala for WTO top job President Muhammadu Buhari has formally presented former finance minister, Ngozi Okonjo Iweala for consideration for the position of director general of the world trade organization, WTO. The president in a note dated June 4 sent from the Nigerian mission in Addis Ababa, said, “Nigeria…
Details
Thursday, June 04, 2020 How Nigerians bear brunt of fading foreign direct investments Nigeria is finding out that attracting foreign direct investment (FDI) into a country that has a larger population than France (65 million), Italy (60 million) and Spain (46 million) combined isn’t always straight-forward. Despite its mostly youthful large population and abundant natural…
Details
Wednesday, June 03, 2020 Lagos delivers 1576 homes in 12months, seeks partnership with private investors Working with the understanding that housing is the bedrock of economic development and social stability, the Lagos State government, in the past 12 months, completed and delivered 1,576 new homes in its various housing schemes across the state. The completion…
Details
Tuesday, June 02, 2020 FG cuts petrol price to N121.50 but could raise risk for marketers The Petroleum Products Pricing Regulatory Agency (PPPRA) has cut pump price of Premium Motor Spirit (petrol) from N123 to N121.50 per litre for the month of June, but some marketers say frequent movement of prices may impair their ability…
Details
FirstBank leverages technology to promote virtual bank account opening for customers First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider, has announced that it has reinforced its technology infrastructure to enable anyone in the country to open a FirstBank account through their mobile phones without visiting any of its branches…
Details