AfCFTA: Nigeria To Become Petroleum Products Refining Hub, Says Sylva
The Federal Government says it will leverage the opportunities provided by the African Continental Free Trade Area Agreement (AfCFTA) to…
Category: Local
Nigeria’s Economy Likely To Contract By Over 4% In 2020 -World Bank
Nigeria’s economy is likely to contract by more than 4% this year, plunging the country into its deepest recession since…
Nigeria Inflation At Highest In Almost Three Years On Food Costs
Nigerian inflation quickened to an almost three-year high in November as dollar shortages, insecurity in farming areas and supply bottlenecks…
World Bank Approves $3bn For Nigeria
After threatening to withhold $1.5 billion until Nigeria carries out foreign exchange reforms to its satisfaction, the world Bank has…
Nigerian Annual Inflation Nears Three-Year High In November
Annual inflation in Nigeria rose in November for the 15th straight month, to almost a three-year high, the National Bureau…
PwC: Nigeria’s Economy Will Perform Better Than IMF, World Bank Projections
This is contained in the December 2020 Nigeria Economic Alert released by the firm on Monday. It projected that the…
Don’t Open Borders, NASME Tells FG
The National Association of Small and Medium Enterprise has advised the President, Major General Mohamadu Buhari (retd.), not to succumb…
Court Declares Stamp Duty On Bank Transactions Illegal
A FEDERAL High Court sitting in Asaba Delta State has ruled that it is illegal for banks to charge depositors…
External Reserves Dip By $269.47m In Five Weeks
The country’s foreign reserves fell by $269.47m in five weeks, the latest figures obtained from the Central Bank of Nigeria…
Lagos Lists 300 Distressed Buildings For Demolition
The General Manager, Lagos State Building Control Agency, Mrs Abiola Kosegbe, said it has listed about 300 buildings that it…
FG Suspends Issuance Of FTZs Licences
The Federal Government has suspended issuance of licences for the operations of Free Trade Zones (FTZs) in the country. The…
Banks’ Non-Performing Loans Now N1.17tn – NBS
Non-performing loans in the Nigerian banking sector fell by N42.4bn in three months, latest figures from the National Bureau of…
Oil Rises From The Ashes As The Big Coronavirus Recovery Trade
Brent crude topped $50 a barrel last week for the first time since March, a milestone for an oil market…
OPEC+ Countries To Hold Jan. 4 Talks, Algeria Says
Algerian Energy Minister Abdelmadjid Attar said on Sunday that OPEC+ countries will meet on Jan. 4 to study the market…
Deregulation: Nigerians Overpaying For Petrol – Expert
At a pump price of N167 per litre, Nigerians are currently overpaying for fuel, an industry expert, Alhaji Rabiu Bello…
As FG Woos Global Investors At GITEX 2020
This year’s Gulf Information Technology Exhibition (GITEX) event and conference, which held at the World Trade Centre in Dubai, UAE,…
CBN Commits N200bn On 300,000 Social Housing Scheme
THE Central Bank of Nigeria, CBN, has committed N200 billion to kickstart the social housing projects, under the Economic Sustainability…
Lagos To Establish A Multi Million Naira Fish Centre
Lagos is set to launch a multi-million Aquaculture Centre of Excellence (L.A.C.E) to provide a major boost to the fast-growing…
Nigeria’s Q3 Oil Exports Rise By 56% To N2.42tn
Nigeria more than doubled its crude oil exports in the third quarter of this year to N2.42tn after months of…
Banks Have Benefited From COVID-19 Fiscal, Monetary Policies – Okonkwo
Nnamdi Okonkwo, who retires as the Managing Director/Chief Executive Officer of Fidelity Bank, on December 31, spoke to business editors…
Nigeria’s Buhari Disputes Lawmakers’ Power To Summon Him
A last minute change of heart by Nigerian President Muhammadu Buhari on answering an invitation by lawmakers triggered a constitutional…
Nigerian Military In Firefight With Gang Who Kidnapped Students
The Nigerian military had located and exchanged fire with gunmen who kidnapped scores of secondary school students in northwestern Katsina…
Global Lenders Raise Pressure On Nigeria To Reform Currency
The International Monetary Fund and World Bank have intensified calls on Nigeria to speed up currency reforms without which Africa’s…
Naira Appreciates To N394/$ At I&E Amid 180.6% Spike In FX Demand
The Naira appreciated by 0.15 per cent or 60 kobo against the US Dollar at the Investors and Exporters (I&E)…
Transport Owners Want Land Borders Reopened
The Public Transport Owners of Nigeria Association (PTONA) has appealed to the federal government to reopen the land borders it…
IMF Article IV: Nigeria’s Outlook Challenging, Forex Reforms Needed
The International Monetary Fund (IMF) yesterday returned a gloomy verdict on the Nigerian economy for 2020, declaring that the nation’s…
Govt Halts Retrenchment Of 300 Arik Air StaffGovt Halts Retrenchment Of 300 Arik Air Staff
The Federal Government on Thursday said the over 100 per cent hike in domestic airfares was inevitable, describing it as…
Exporters Lament U.S Ban On Nigeria’s Catfish
Catfish exporters in Nigeria have lamented the ban on Nigeria’s processed catfish by the United State government, saying the decision…
Nigeria Will Have 110m Poor People By End Of 2020
The former vice presidential candidate of the Peoples Democratic Party (PDP) in the 2019 general elections, Peter Obi has said…
Nigeria To Reopen Isolation Centers As Covid-19 Cases Surge
Nigeria is set to reopen Covid-19 isolation and treatment centers as the number cases jumped to the highest in more…