Lockdown Ends In Nigeria’s Kano, Where Coronavirus Killed Hundreds
The Nigerian state of Kano ended its novel coronavirus lockdown on Thursday, the local ministry of health said, months after…
Category: Local
Nigeria: ‘Domestic Debt Servicing Gulps N609.13b In Q1’
The Federal Government has spent N609.135 billion to service domestic debt in the first quarter of 2020. The Debt Management…
Fed Government Secures Release Of 36 Nigerians ‘Caught Entering Ghana Illegally’
The federal government says it secured the release of 36 Nigerians “caught entering Ghana illegally”. But there are reports suggesting…
Unlocking Nigeria’s Economic Possibilities Via Gas Infrastructure
With proven reserves now at 203.16 trillion cubic feet (tcf), natural gas is one of the hydrocarbons Nigeria has in…
Nigeria H2 2020 Outlook: Up In The Air
In January 2020, we estimated that better trade terms between the US and China, improved clarity on the UK-EU economic…
Petrol Sold To Nigeria From Europe ‘Dirtier’ Than Black Market ‘Bush’ Fuel
Black market fuel made from stolen oil in rudimentary “bush” refineries hidden deep in the creeks and swamps of the…
Nigeria: Concerns Mount In Niger Delta Over Marginal Fields Bid Round
As the federal government opens the second bid round for marginal fields, Niger Delta stakeholders are raising concerns over what…
Nigerian Banks’ Forex Shortage To Hit $5bn
Nigerian banks’ foreign currency funding gap will rise to $5bn over the current low oil prices, volatile foreign inflows and…
172 Nigerians Evacuated From Uganda, Kenya Arrive In Abuja
The Nigerians in Diaspora Commission (NiDCOM) says 172 Nigerian evacuated from Uganda and Kenya arrived at the Nnamdi Azikiwe International…
Nigeria To Restart Domestic Flights July 8 In Easing Of Coronavirus Curbs
Nigeria will resume domestic flights from July 8, the government said on Wednesday, as Africa’s most populous country relaxes novel…
Nigeria: Court Orders Forfeiture Of 46 Houses, Land Linked To Ex-NSITF Boss, Olejeme
The Abuja division of the Federal High Court, Abuja, yesterday granted an order of interim forfeiture in relation to 46 property,…
Moody’s – Nigerian Banks To Face Pressure With Reduced Dollar Deposit
Banks in Nigeria are facing foreign currency shortages because of low oil prices, volatile foreign inflows and lower remittances…
Interstate Travel – Passengers Groan As Transporters Increase Fares In Enugu
Some passengers travelling outside Enugu State on Wednesday groaned as transporters increased transportation fares, following the lifting of the ban…
Nigeria: Senate Summons Ahmed, Emefiele, Others Over Expatriate Tax Evasion
The Senate on Wednesday summoned the Minister of Finance, Budget and National Planning, Zainab Ahmed, and the Governor of the…
EU Opens Borders To 15 Countries, Excludes Nigeria, Others
The Council of the European Union has opened its borders to 15 countries, excluding Nigeria. According to information gathered from…
INSIGHT: Tax Revenue Mobilization In Nigeria
Adeniyi Adeyemi and Adedapo Adeduro of KPMG Nigeria consider the low level of tax compliance in Nigeria and make…
Nigeria: NASD Plc OTC To Enhance Capital Raising Capabilities
The Managing Director/CEO of NASD Plc, Mr. Bola Ajomale, has said the company, which is providing over-the-counter (OTC) market for…
Nigeria: Aviation Workers Vow To Resist Airport Concession
Fault N1.7b consultation fee award Aviation workers yesterday rejected the planned concession of the big four airports in Lagos, Abuja, Port…
Naira Declines Against US Dollar, Remains Pressure Across FX Segments
Naira declined against the United States dollar on the Investors and Exporters’ forex window on Tuesday. The local currency depreciated…
Nigeria’s Economic Advisory Council Cautions Against Multiple Exchange Rate
The Presidential Economic Advisory Council, PEAC, yesterday, advised the Federal Government to move away from multiple exchange rates to a…
Nigeria, Other African Oil Exporters’ll Lose $34bn – IMF
The impact of the COVID-19 pandemic is estimated to cost Nigeria and other oil exporters in Africa a total of…
Actis-Backed African Education Group Acquires Nigerian University
A pan-African education group backed by global investment firm Actis has acquired its first university in Nigeria as it seeks…
Nigeria: Chinese Bank, Sinosure To Fund $2.6bn Ajaokuta-Kano Pipeline
The Bank of China and Sinosure, a Chinese export and credit insurance corporation, are to fund the $2.6bn Ajaokuta-Kaduna-Kano gas…
Buhari Tasks Economic Council To Do More To Develop Nigeria
The Presidential Economic Advisory Council (PEAC) was on Tuesday directed to develop more strategies that will put the country on…
Nigeria’s Airports To Reopen When Safe – NCAA
The approval by the Federal Government for the resumption of domestic flights will only be given when it is safe…
Central Bank Of Nigeria: Leveraging I&E Window For Exchange Rate Stability
Having successfully used the Investors and Exporters’ (I&E) foreign exchange window to stop the naira from crashing to a record…
Don’t Introduce New Tax Reforms, IMF Urges Nigeria
The International Monetary Fund (IMF) yesterday advised Nigeria against implementing new tax measures at this time in order not to…
Nigeria’s Corporate Affairs Commission To Issue Incorporation Certificates With Tax Numbers
Certificates of incorporation of companies registered under Part A of the Companies and Allied Matters Act will now be…
Fitch Says Nigerian Banks Have A Risk Indicator Of 12.14. Here’s Why
A new report by Fitch Solutions titled “Nigeria: Banking & Financial Services Report Q3 2020” has revealed that the Banking…
Naira gains Against The Dollar At I&E Window, Forex Liquidity Up By 242%
Forex turnover at the Investor and Exporters (I&E) window recorded a huge increase on Monday, June 29, 2020, as it rose by 242%, a…