Wednesday, February 19, 2020 $750m oil stolen in 2019, says NNPC The Nigerian National Petroleum Corporation has said the nation lost about $750m to crude oil theft in 2019. The Group Managing Director, NNPC, Mallam Mele Kyari, who disclosed this on Tuesday, decried the growing activities of oil thieves and pirates which…
DetailsThe Consumer Price Index (CPI) maintained an upward trend to 12.13% (YoY) in the month of January 2020, a rise of 0.15 percent points as reported by The National Bureau of Statistics(NBS) from 11.98% in December 2019. This is the fifth consecutive rise since September 2019. Food inflation (Y-o-Y) followed in the same trajectory in…
DetailsTuesday, February 18, 2020 NNPC, oil majors disburse $360m for Ogoni clean-up The Nigerian National Petroleum Corporation and its joint venture partners have disbursed $360m towards the Ogoniland clean-up project as recommended by the United Nations Environment Programme….read more. SEC advocates more palliatives to encourage listings The Securities and Exchange Commission…
DetailsMonday, February 17, 2020 Power sector loses N19.15bn in 10 days The nation’s power sector lost an estimated N19.15bn in 10 days due to constraints from insufficient gas supply, distribution and transmission infrastructure. The losses were recorded in the 10 days to February 14, 2020, according to data from the Advisory Power Team…
DetailsSenate summons AGF, CBN over N596bn ecological fund The Senate, on Thursday, following an audit query from the office of the Auditor General of the Federation, summoned the Secretary to the Government of the Federation, Mr Boss Mustapha, to explain details of an ecological fund totalling N596bn…..read more. Nigeria’s oil exports fall as explosion…
DetailsThursday, February 13, 2020 BPE to raise N267bn from privatization of 20 coys Abuja Bureau Chief The Director-General of the Bureau of Public Enterprises, BPE, Mr. Alex Okoh, has advised against re-nationalisation of the nation’s electricity power assets. He also projected that the bureau would raise N266.9 billion from privatization of 20 companies in order…
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NSE’s Demutualisation Progresses as Members Meet on Share Allotment The demutualisation process of the Nigerian Stock Exchange (NSE) is nearing its peak as the members of the exchange will meet on March 3, to approve a change in the name of the exchange and allotment of shares in accordance with the scheme of arrangement…read more.…
DetailsTuesday, February 11, 2020 Nigeria earned N1.17tn from VAT in 2019 – CBN Between January and December 2019, the Federal Government generated the sum of N1.17tn from Value Added Tax. When compared to the target of N1.7tn set by the Federal Government in the 2019 budget, the amount represents a shortfall of about…
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High interest rates top business constraints, says CBN High interest rates, unfavourable economic climate and insufficient power supply have been identified as the major constraints to businesses in the country… read more Lagos provides N13bn pension bailout Lagos State Government says it approved N13bn pension bail in the 2020 budget, and released N1.92bn for the…
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FG to issue N25b third green bond for renewable energy, others The Minister of Environment, Dr. Mohammad Mahmood Abubakar, has said Nigeria is set to access a third tranche of the green bond programme of up to N25 billion to fund environmental projects.… read more Market rebounds as financial stocks lift index by 0.17 per…
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