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…
DetailsWednesday, 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…
DetailsTuesday, 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…
DetailsFriday, July 17, 2020 Nine power plants shut down, 2,079MW capacity stranded Nine of the nation’s 27 power plants were idle on Thursday, leaving a total generation capacity of 2,079.1 megawatts stranded. Total power generation in the country stood at 3,269.6MW as of 6am on Thursday, up from 3,074.6MW the previous day…Read more. FG inaugurates…
Details
