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Government Seeking $3bn Loan To Fix Infrastructure- Adeniyi Adebayo The continued closure of Nigerian land borders will not solve the problem of smuggling and insecurity in Nigeria, the Lagos Chamber of Commerce and Industry, LCCI has warned. Mrs. Toki Mabogunje, The President of the Chamber, made this known during the 2020 LCCI Presidential Policy Dialogue…
August 14, 2020
The looming ban on Chinese social media apps like TikTok and WeChat, the security law for Hong Kong, the ban of the technology giant, Huawei, from 5G wireless network projects are some of the issues expected to take center stage as China and the United States resume trade talks. The two economic superpowers have been…
August 14, 2020
AFP-Britain’s economy contracted by a record 20.4 percent in the second quarter with the country in lockdown over the pandemic, official data showed Wednesday. Read also: Andy Warhol’s Elvis triptych sells for $81.9m “It is clear that the UK is in the largest recession on record,” the Office for National Statistics said. Details later… …
August 12, 2020
By Gbenga Abulude The Central Bank of Nigeria (CBN), recently adjusted the official exchange rate of the naira to the dollar on its website from N361 to N379. The recent devaluation of the naira will increase the debt profile of the country and banks in naira terms apart from other side effects, experts have said.…
August 11, 2020
A total of $3.121bn has been borrowed from China, representing 11.28 per cent of the country's external debt as at March 31, 2020, the Debt Management Office (DMO) said Thursday. Also, the loans which were largely deployed to infrastructural development -- roads and railway projects represents 3.94 per cent of the nation’s $79.3 billion debt…
August 7, 2020
There is hope in the horizon for Nigeria as the price of Brent Crude inched up by 74 cents or 1.7% to close at $45.17 a barrel on Wednesday. This is the highest since early March 2020 before the Coronavirus pandemic sent oil prices tumbling to as low as $20 per barrel. The rising prices…
August 6, 2020
Nigeria’s foreign reserves have dropped by $673.13m from $36.57bn on June 1 to $35.89bn on July 28. This was confirmed by the Central Bank of Nigeria (CBN) based on the latest data released by the bank yesterday. The country’s apex bank, in its first-quarter economic report, entitled ‘Gross official external reserves,’ declared that the gross…
July 31, 2020
The Purchasing Manager’s Index, PMI report released by the Central Bank of Nigeria, CBN has revealed that the manufacturing sector for the third consecutive month in July to stand at 44.9 index points. The PMI is a survey conducted by the CBN to show changes in the level of business activities in the current month…
July 30, 2020
China and the United States of America are once again set for a clash after the US insists on its candidate to succeed outgoing Director-General Roberto Azevedo in interim capacity pending the choosing of a substantive DG. This decision is reported not to be going down well with China and Europe. According to reports, the…
July 30, 2020
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Government Seeking $3bn Loan To Fix Infrastructure- Adeniyi Adebayo The continued closure of Nigerian land borders will not solve the problem of smuggling and insecurity in Nigeria, the Lagos Chamber of Commerce and Industry, LCCI has warned. Mrs. Toki Mabogunje, The President of the Chamber, made this known during the 2020 LCCI Presidential Policy Dialogue…
August 14, 2020
The looming ban on Chinese social media apps like TikTok and WeChat, the security law for Hong Kong, the ban of the technology giant, Huawei, from 5G wireless network projects are some of the issues expected to take center stage as China and the United States resume trade talks. The two economic superpowers have been…
August 14, 2020
AFP-Britain’s economy contracted by a record 20.4 percent in the second quarter with the country in lockdown over the pandemic, official data showed Wednesday. Read also: Andy Warhol’s Elvis triptych sells for $81.9m “It is clear that the UK is in the largest recession on record,” the Office for National Statistics said. Details later… …
August 12, 2020
By Gbenga Abulude The Central Bank of Nigeria (CBN), recently adjusted the official exchange rate of the naira to the dollar on its website from N361 to N379. The recent devaluation of the naira will increase the debt profile of the country and banks in naira terms apart from other side effects, experts have said.…
August 11, 2020
A total of $3.121bn has been borrowed from China, representing 11.28 per cent of the country's external debt as at March 31, 2020, the Debt Management Office (DMO) said Thursday. Also, the loans which were largely deployed to infrastructural development -- roads and railway projects represents 3.94 per cent of the nation’s $79.3 billion debt…
August 7, 2020
There is hope in the horizon for Nigeria as the price of Brent Crude inched up by 74 cents or 1.7% to close at $45.17 a barrel on Wednesday. This is the highest since early March 2020 before the Coronavirus pandemic sent oil prices tumbling to as low as $20 per barrel. The rising prices…
August 6, 2020
Nigeria’s foreign reserves have dropped by $673.13m from $36.57bn on June 1 to $35.89bn on July 28. This was confirmed by the Central Bank of Nigeria (CBN) based on the latest data released by the bank yesterday. The country’s apex bank, in its first-quarter economic report, entitled ‘Gross official external reserves,’ declared that the gross…
July 31, 2020
The Purchasing Manager’s Index, PMI report released by the Central Bank of Nigeria, CBN has revealed that the manufacturing sector for the third consecutive month in July to stand at 44.9 index points. The PMI is a survey conducted by the CBN to show changes in the level of business activities in the current month…
July 30, 2020
China and the United States of America are once again set for a clash after the US insists on its candidate to succeed outgoing Director-General Roberto Azevedo in interim capacity pending the choosing of a substantive DG. This decision is reported not to be going down well with China and Europe. According to reports, the…
July 30, 2020
