Govt Seeks Single-Digit Interest For MSMEs
The Minister of State, Industry Trade and Investment, Mariam Katagum has called for single digit rate financing for the Micro,…
Category: Local
Stock Market Extends Losses By N12 Billion
The stock market extended losses to three consecutive sessions yesterday, causing market capitalisation to depreciate further by N12 billion. At…
Nigeria Needs $2b Monthly For Fiscal Sustainability As FG Builds Oil Reserves
The Department of Petroleum Resources (DPR) has stated that the country needs over $2 billion monthly revenue to remain sustainable…
PSSP Capital Base Jacked Up To N250m
The Central Bank of Nigeria (CBN) has raised the minimum capital requirement for payment solutions service providers (PSSPs) to N250 million…
Nigeria To Earn N320 Billion From NNPC, Bonga PSC Deal
The Nigerian National Petroleum Corporation (NNPC) and Bonga Production Sharing Contract (PSC) partners, have signed watershed agreements to unlock $700m…
Oil Drops With Prospect Of Iran Deal Weighed Against Demand
Oil snapped two days of gains as investors weighed talks of higher Iranian supply against the prospect of a continued…
CBN Raises Capital Requirements For Payment Solutions Service Providers To N250 Million
The Central Bank of Nigeria (CBN) yesterday issued a new licence requirements for payment systems, increasing the minimum capital requirements…
Solid Minerals Exporters Owe Fed Govt N17.1b
Exporters of solid minerals are owing the Federal Government N17.1 billion royalties for minerals exported. Minister of Mines and Steel…
£4.2m Loot Paid To Delta State Govt – Accountant General
The Accountant General of the Federation, Mr. Ahmed Idris has disclosed that the controversial £4.2m looted by an ex-governor, has…
Central Banks Running Out Of Options As Recovery Falters In Asia
Asia’s surging coronavirus infections and slow pace of vaccinations is testing the limits of what central banks can do to…
Nigeria’s Economy Grows In First Quarter On Oil Price Rise
Nigeria’s economy grew 0.5% in the first quarter, lifted by higher crude production and oil prices, the country’s statistics office…
Sylva: FG To Scale Up Domestic Gas Expansion, Monetisation Drive
Minister of State, Petroleum Resources, Mr. Timipre Sylva, has stated that the federal government will continue to ramp up its…
FG Bars 22-Year Aircraft From Nigeria, Releases N5bn Aviation Bailout
The Permanent Secretary, Federal Ministry of Aviation, Hassan Musa on Monday told the House of Representatives that the Federal Government…
CBN Sustains Weekly Dollar Sales To BDCs
The Central Bank of Nigeria has continued to fund bureaux de change (BDCs) segment of the foreign exchange market weekly…
Currency In Circulation Dips By N10bn
Currency in circulation dropped by N10bn from N2.81tn as of the end of March to N2.8tn as of the end…
12 Nigerian Banks Lend Customers N690bn In Three Months
The combined loan portfolio of 12 commercial banks in Nigeria rose by N690bn in the first three months of this…
Nigeria Devalues Naira On Migration To Single Exchange Rate
Nigeria’s central bank devalued the naira by 7.6% against the dollar as authorities in Africa’s biggest oil producer migrate toward…
How CBN Can Reverse Nigeria’s Underdevelopment
The Central Bank of Nigeria underdevelops the economy through heterodox monetary and fiscal procedures contrary to the express mandate and…
Oil Climbs With Iran Saying Differences Remain On Sanctions Deal
– Oil climbed to the highest level in nearly a week after Iran said that gaps remain in negotiations aimed…
Foreign Affairs Minister Charges Diplomats To Change Narrative About Nigeria
Minister of Foreign Affairs, Geoffrey Onyema has charged officials of the ministry to change the negative narrative about the country…
Fragile Nigerian GDP Recovery Means Interest Rate Could Stay Put
Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. Nigeria’s central bank will…
Econet Founder Strive Masiyiwa Becomes Britain’s First Black Billionaire
Econet founder, Strive Masiyiwa, has been named Britain’s first black billionaire. Masiyiwa, who is based in London, is the only…
FX Speculators Walk A Tightrope
Currency speculators, who have in the past week engaged in an aggressive ‘stocking’ of the dollar at a premium in…
Stocks, Bonds, Naira Head South
THERE are indications that last week witnessed bearish sentiments in the trio of stock, fixed income and money markets as…
Banks USSD Debts To Telcos Hit N47 Billion
The total debts owed by banks to telecommunications service providers arising from the use of Unstructured Supplementary Service Data (USSD)…
52 Million Crude Oil Barrels Lost To OPEC Cuts – NNPC
Abuja — Nigeria lost at least 52 million barrels of crude oil between May and December 2020 to COVID-19-induced compulsory…
Nigeria’s First Deep Seaport Reaches 51% Completion
Nigeria’s first deep seaport project, the Lekki Deep Sea Port, promoted by Lekki Port LFTZ Enterprise Limited, (LPLEL), will upon…
NNPC Reverses Full Deregulation, Remits Zero Revenue At April FAAC
Nigerians may heave a sigh of relief, as the impact of full deregulation of petroleum products in the country by the Nigerian…
Nigerians Kick Against NCC Plan For Phone ID Warehouse
Nigerians have in their numbers voiced opposition against the Nigerian Communications Commission’s plan to obtain the International Mobile Equipment Identity…
NBS’ Q1 Results: Rewane, Others Differ On Economic Growth
As the headline inflation for April drops by 0.5 per cent to 18.12 per cent in April, Managing Director of…