Nigeria’s Revenue Threatened As India Slashes Crude Imports By $39.5bn
Nigeria’s revenue earning capacity has come under threat following the reduction of importation of crude oil by India. India, Nigeria’s…
Category: Local
Over N3trn Unremitted Fund With MDAs – Senate
As the Senate Committee on Finance continues its investigations into revenue remittances by over 700 Ministries, Departments and Agencies(MDAs) of federal government, the committee chairman, Senator Solomon…
CBN Promises More Credit Facilities For Youths
The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, has reiterated the apex bank’s commitment to provide more loans to…
Oil Traders Work To Avert Shortages From U.S. Pipeline Hack
The shutdown of America’s largest fuel pipeline after a cyberattack is threatening to send gasoline prices to the highest in…
Nigeria To Diversify Forex With Gold Trading
Nigeria is expected to deepen its foreign exchange (forex) earnings with the impending listing of Dukia Gold’s diversified financial instruments…
CBN, IITA, Others To Halt Rejection Of Nigerian Crops
The Central Bank of Nigeria is working with the International Institute of Tropical Agriculture, government agencies and private firms to…
Rise In Import Tariff Takes Toll On Businesses
For most businesses dependent on importation of some kind, increase in import tariffs remains a sore point as well as…
Inflation, Interest Rates, And The CBN’s Quest To Defend The Naira
A higher debt burden has meant more pressure on an already tenuous government revenue-to-debt service ratio in the country. The…
High-Level Visit To Nigeria Signals Strength And Importance To UK-Nigeria Partnership
The UK’s Minister for Africa, James Duddridge MP, visited Nigeria for high-level discussions with senior members of the Government of…
Nigeria’s Spending Structure Unsustainable, Budget Head Says
Nigeria’s current trend of spending more money on running the government than on building new infrastructure is unsustainable, the country’s…
MBA Forex Is Illegal, We Warned Nigerians – SEC
The Securities and Exchange Commission has said it warned Nigerians against investing in the now troubled MBA Forex scheme. The…
West African Cocoa Giants Report Progress In Deforestation Fight
Cocoa giants Ivory Coast and Ghana reported progress in goals to end deforestation as they prepare for stricter European…
KLT Customs Collects N7.9b Revenue
Kirikiri Lighter Terminal (KLT) Command of Nigeria Customs Service collected a total of N7,968,865,907 as revenue and N55.7million worth of…
MPC Meeting: The Hawks Likely To Remain In The Minority
Although it left its benchmark rate of 11.50% and other parameters unchanged, the last meeting of the monetary policy committee…
Oil Drives Toward $70 As Sagging U.S. Stockpiles Aid Bull Bets
Oil extended a rally after U.S. stockpiles fell and reopening drives in the U.S. and Europe showed signs of boosting…
DMO Opens Two FG Bonds For Subscription
The Debt Management Office (DMO) has announced the opening of two Federal Government (FGN) savings bonds for subscription at N1000…
Nigeria Loses $8.8tr To Capital Flight
The House of Representatives has urged the Federal Government to develop an effective mechanism and strategy to prevent the persistent…
Expert Says Nigeria’s Economic Recovery Remains Weak
A financial service corporation, EFG Hermes has described Nigeria’s economic recovery process as fragile as the macroeconomy remains complicated and…
Low Refining In Africa Triggers Spike In Regional Fuel Imports
Low output from refineries in many African countries continues to raise importation of fuel, despite a projection that oil demand…
CBN: South-East Unwilling To Access Credit Facilities
The Central Bank of Nigeria (CBN) has expressed worry over the show of indifference by those in the South-east in…
Nigeria’s Herder-Farmer Conflict Could Escalate If NLTP Fails – ICG
Nigeria’s herder-farmer conflict could escalate to wider violence if federal and state governments fail to implement the National Livestock Transformation…
Federal Government’s Decision To Devalue Naira Huge Mistake – Thompson
AS Nigerians continue to grapple with harsh economic realities, the Chairman and Chief Executive Officer, CEO, Safe water Energy and…
Diaspora Remittances: ‘Naira For Dollar Scheme’ To The Rescue
The Central Bank of Nigeria’s (CBN’s) ‘Naira for Dollar Scheme’, aimed at promoting diaspora remittances will be ending this Saturday.…
At I&E, Nigerian Currency Trades N411/$1 After N1 Loss
It was a bad day for the Nigerian currency at the Investors and Exporters segment of the foreign exchange (FX)…
MTN Nigeria Issues 100 Bln Naira Bond – CFO
MTN Nigeria (MTNN.LG)has issued a 100 billion naira ($263 mln) fixed rate bond in the first quarter of 2021, due in…
Industrialists Charge CBN To Review Repatriation Of Export Proceeds Policy
Industrialists across the country, under the auspices of the Lagos Chamber of Commerce and Industry (LCCI) have charged the Central…
Shortage Of Flights, Aircraft Inspectors Raise Safety Concerns In Aviation
The shortage of aircraft, flights as well as pilot inspectors have raised safety concerns in the nation’s aviation sector, LEADERSHIP…
Oil Rises Over 1% As Demand Hopes Bolster Sentiment
Oil rose more than 1% on Monday as Chinese economic figures and U.S. vaccination rates pointed to a strong rebound…
Dollar Extends Gains As Markets Focus On U.S. Data
The U.S. dollar extended gains on Tuesday, partially unwinding a month long decline as investors weighed chances that interest rates…
FG Says Lekki Deep Seaport Will Change Maritime Economy
The Federal government says the Lekki Deep Seaport will be a significant game-changer in Nigeria’s Maritime economy with corresponding benefits…