Central Bank Of Nigeria To Spend $1.7Billion To Clear FX Backlogs By September-IMF
The World Bank has stated that Nigeria’s external reserves expect to decline. As a result, the Central Bank of Nigeria…
Month: June 2022
Stock Investors Lose N767bn In One Week
Investors lost N767bn at the end of trading on the floor of the Nigerian Exchange Limited last week. The market…
States To Lose N19bn In Oil, Gas Revenues In 2022 – World Bank.
The World Bank has said that Nigerian states will likely lose N18.8bn in oil and gas revenues in 2022. As…
FG, World Bank, AFD To Spend $575m On Rural Roads
The Federal Government has signed a tripartite agreement with the World Bank and the French Development Agency. This is to…
Airfares Surge By 52% Over Forex, Jet-A1 Crisis
The National Bureau of Statistics data says that in the past 12 months. The average airfare paid by passengers on…
Fuel Scarcity: Petrol Now Sold For N185/Litre In Lagos, Ogun States.
Fuel scarcity has worsened across Lagos, Ogun States, as filling stations now sell Premium Motor Spirit (PMS); popularly known as…
Nigeria Rallies Support For $13bn Trans-Saharan Gas Pipeline
The Federal Government charged all parties Nigeria, Niger and Algeria involved in the construction of the $13bn Trans-Saharan Gas Pipeline.…
Scarcity Hits Lagos, Abuja, Fuel Sells N180/litre As NNPC Cuts Supplies- Nigeria.
Fuel queues hit major cities of Lagos, Abuja and Ogun on Monday, forcing motorists to spend hours at filling stations.…
Manufacturers Reduce Investment By 61%, Borrowing Cost Hits 22%
Nigerian manufacturers reduced their investments in the economy by 61% between 2018 and 2021. This from economic reviews of the…
Russian Rouble Firms To 7-Year High Past 53 Vs Dollar In Moscow Trade.
The rouble jumped on Wednesday to its strongest mark in seven years against the dollar and euro. Supported by capital…
Bauchi Uncovers 6,418 Ghost Workers, Saves N1bn Monthly- Nigeria.
Bauchi State government says that it has removed no fewer than 6,418 ghost workers from its payroll. Since the inception…
Debt Servicing Doubles, Hits N896bn In Three Months– Report
Nigeria’s debt servicing bill has increased by 109% to N896.56bn, findings. As a result, the country has also spent N3.83tn…
MarketAxess, Tradeweb And Bloomberg Plan Joint EU Bond Price Feed.
MarketAxess, Tradeweb and Bloomberg said o they were exploring a single price feed for corporate and government bond. The EU…
UK Inflation Hits 40-Year Record, Highest In G7
Soaring food prices pushed British consumer price inflation to a 40-year high of 9.1% last month. The highest rate out…
Rolls Royce Offers Cash To Workers Facing High Cost Of Living.
About 70% of the UK employees will get 2,000 pounds($2,458) from British aviation engine manufacturer Rolls-Royce Holdings. To help them…
Nigerian Airlines, Others To Lose $700m In 2022 – IATA
The International Air Transport Association (IATA) has said that Nigerian airlines and others across Africa will lose $700 million. This…
Prestige Assurance Sees N10.5bn Gross Premium In Q3’22- Nigeria.
Prestige Assurance Plc. has projected to achieve N10.500 billion gross premium written for the third quarter ending September 2022. The…
French Spirits Industry Sees Inflation Giving 2022 Bitter Taste
The French spirits industry faces a tough year due to geopolitical constraints, soaring inflation, and COVID-19 restrictions in China. After-sales…
Global Luxury Outlook Still strong, Sales To Grow At Least 5% This Year -Consultancy
Sales of luxury goods will rise at least 5% this year as shoppers in the United States and Europe continue…
Anticipating U.S. Downturn, Elon Musk Details Tesla Staff Cuts
Elon Musk, CEO of Tesla (TSLA.O) says a 10% cut in salaried staff at the electric car maker will happen…
Cost Of 12.5kg Cooking Gas Hits N9,400 In May 2022, Highest In 3 Years
The cost of purchasing a 12.5kg cylinder of household cooking gas in Nigeria has increased from N7,000 in September 2021…
AIICO Insurance Declares Dividend Of 2 Kobo Per Share For Year Ended December 2021
AIICO Insurance Plc has declared a dividend of 2 kobos per share amounting to N732 million. This is regarding and…
U.S. Chamber Of Commerce, Others Warn of Impracticalities In EU Subsidy Plan
European Union legislation targeting foreign state-backed buyers of European companies was prompted by fears of a Chinese buying spree. This…
Stocks Squeeze Out Slim Gains, Dollar Climbs As Inflation Soars
European stocks made slim gains on Wednesday, with the dollar strengthening as investors fretted over soaring inflation. And also the…
Wema Bank Assures Customers Of Data Confidentiality- Nigeria.
Wema Bank has said that it will ensure data confidentiality of its customers. The bank said, “We implore members of…
DisCos Revenue Surges By 47% To Hit N757bn – Report
Revenue collection by the 11 distribution companies increased by 47% to N757bn in 2021. The Association of Nigerian Electricity Distributors’…
South Africa Extends Fuel Subsidies To August 2022.
To ease the increased oil costs as a result of Russia’s conflict with Ukraine, South Africa wants to extend its…
Cardano Is Now 6th Most Valuable Crypto Following Vasil Hard Fork.
Cardano has also seen gains in the last seven days, with its price rising by 14%. As a result of…
German Retail Sales Drop In April As Food Prices Bite.
German retail sales fell by more than expected in April as consumers feel the pinch of higher prices. Especially for…
Rising Inflation, Others Threaten Buhari’s Poverty Reduction Scheme –World Bank economists
World Bank economists, Jonathan Lain and Jakob Engel, have said that rising inflation, persistent population growth, the COVID-19 pandemic, and…