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…
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Friday, June 19, 2020 FG designates seven minerals to boost economy The Minister of Mines and Steel Development, Mr Olamilekan Adegbite, says the Federal Government has designated seven of the country’s strategic minerals to unlock the potential in the mining sector…Read more. Farmers, processors, others to get N432bn –CBN The Central Bank of Nigeria on…
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Thursday, June 18, 2020 Nigeria, others expect oil market to recover in H2 Nigeria and other members of the Organisation of Petroleum Exporting Countries have said the global oil market will recover in the second half of this year…Read more. Naira slumps to 452/$ as speculations, debt weaken market The dollar exchanged for N452 at…
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Wednesday, June 17, 2020 Nigeria’s economy seen in sharp plunge in Q2 with 91% of sectors trodden by virus Nigeria’s economy is forecast to see a sharp plunge in the second quarter (Q2) of 2020 with 91 percent of sectors ravaged by the coronavirus pandemic, according to early estimates by Yemi Kale, the country’s chief…
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Tuesday, June 16, 2020 Nigeria’s fiscal headache goes from bad to worse Nigeria may be facing a deeper fiscal crisis than expected with data from the budget office showing that the Federal Government spent N99 of every N100 earned paying interest to creditors in the first quarter of 2020…Read more. Nigerians stuck with cash transactions…
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Monday, June 15, 2020 Nigeria’s FX demand backlog near 2016 crisis levels of $7bn Nigeria is facing a $7 billion FX demand backlog that is rolling back ugly memories of the dark days of 2016 when manufacturers and investors were starved of dollars leading to a near collapse of the economy…Read more. FG defaults in…
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Thursday, June 11, 2020 COVID-19 threatening 13 million jobs in Nigeria – UN The COVID-19 pandemic may lead to the loss of 13 million jobs in Nigeria, the World Food Programme of the United Nations declared on Wednesday. According to the agency, Nigeria needs urgent financial intervention to boost its economy….read more. Some Nigerian operators…
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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…
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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…
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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…
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