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…
DetailsThe Nigerian Stock Exchange (NSE) reopened trading on Tuesday after the Easter holidays with a growth of 2.32 per cent in spite of the lockdown extension in some parts of the country. The federal government on April 13 extended lockdowns in Lagos, Abuja and Ogun State for an additional 14 days to contain the coronavirus…
DetailsThursday, April 16, 2020 Oil firms’ N4.58tn loan repayment under threat – Investigation The coronavirus-induced sharp fall in global oil prices poses a threat to the ability of oil and gas companies in the country to repay a total loan of N4.58tn, investigation has shown. The loans advanced to oil and gas…
DetailsWednesday, April 15, 2020 Nigeria’s economy will contract by 3.4%, says IMF Predicts worst recession since the Great Depression. The International Monetary Fund on Tuesday said the recession caused by the COVID-19 pandemic would be the worst economic downturn witnessed since the Great Depression. According to the IMF, Nigeria’s economy will contract by 3.4…
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