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In the aftermath of the scourge of the coronavirus pandemic, investment pledges by domestic and foreign investors to projects in Nigeria declined by 67 percent in the first half of 2020, the Nigerian Investment Promotion Commission (NIPC) has disclosed. As at the end of H1 of 2020, the proposed investment stood at $5.06 billion {N1.92tr}…
July 20, 2020
Nigeria’s gross revenues rose to N653.3billion naira in June from N517.8b in May signaling an increase of N135.1b month on month. This increase was triggered by higher crude and tax receipts, Accountant-General Ahmed Idris said, as oil prices recovered from April’s crash. Read also: China’s Record Imports, OPEC+ Cuts Jack Up Oil Prices Recall that…
July 19, 2020
Global rating and marketing research agency, Moody’s has warned that global air passenger slump will continue until 2023 due to the effect of the COVID 19 pandemic. Moody’s gave this grim forecast in a Global airline disruption report published recently. “With an effective coronavirus vaccine likely not available before well into 2021 – and likely…
July 17, 2020
The Central Bank of Nigeria, CBN in its February monthly report disclosed that the nation’s economy recorded a net foreign exchange inflow of $9.35bn {N3.553tr} based on N380/$1. “Foreign exchange flows through the economy resulted in a net inflow of $9.35bn in the review period, compared with $9.99bn and $4.58bn at end-January 2020 and end-February…
July 16, 2020
In a bid to diversify her revenue source, the Federal Government of Nigeria hopes that the reform in the gold mining sector will earn the government $500 million a year in royalties and taxes and create 250,000 jobs. This extra revenue from gold could is expected to serve as a lifeline as the coronavirus pandemic…
July 16, 2020
Amidst fear of a second wave of the COVID 19 pandemic, the International Monetary Fund, IMF has urged governments to keep their support programs in place while disclosing that global economy is 'not out of the woods yet'. IMF’s Managing Director Kristalina Georgieva made this known earlier today in a message to G20 Finance Ministers…
July 16, 2020
As the race for the top job of the World Trade Organization (WTO) reaches a crescendo, former World Bank Chief, Nigeria’s Dr. Ngozi Okonjo-Iweala, and other candidates have called for a quick vetting and announcement of the candidate for the job. Ngozi Okonjo-Iweala said she hoped members would make a quick decision, saying the world…
July 15, 2020
The Central Bank of Nigeria, CBN has revealed that Nigeria recorded a revenue loss of over N400bn in February 2020 due to shortfall in both oil and non-oil revenues. For February 2020, the federal government of Nigeria's monthly budget estimate stood at N1.246 trillion but was able to realize only N845.14 billion leading to a…
July 15, 2020
By Kolawole Ojebisi Starting from August 1, banks will be able to debit the accounts of loan holders in other banks to clear defaults. This was revealed in Global Standing Instruction (GSI) guidelines published by the Central Bank of Nigeria (CBN) on Monday. According to the CBN, the GSI, which was developed in collaboration with…
July 15, 2020
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In the aftermath of the scourge of the coronavirus pandemic, investment pledges by domestic and foreign investors to projects in Nigeria declined by 67 percent in the first half of 2020, the Nigerian Investment Promotion Commission (NIPC) has disclosed. As at the end of H1 of 2020, the proposed investment stood at $5.06 billion {N1.92tr}…
July 20, 2020
Nigeria’s gross revenues rose to N653.3billion naira in June from N517.8b in May signaling an increase of N135.1b month on month. This increase was triggered by higher crude and tax receipts, Accountant-General Ahmed Idris said, as oil prices recovered from April’s crash. Read also: China’s Record Imports, OPEC+ Cuts Jack Up Oil Prices Recall that…
July 19, 2020
Global rating and marketing research agency, Moody’s has warned that global air passenger slump will continue until 2023 due to the effect of the COVID 19 pandemic. Moody’s gave this grim forecast in a Global airline disruption report published recently. “With an effective coronavirus vaccine likely not available before well into 2021 – and likely…
July 17, 2020
The Central Bank of Nigeria, CBN in its February monthly report disclosed that the nation’s economy recorded a net foreign exchange inflow of $9.35bn {N3.553tr} based on N380/$1. “Foreign exchange flows through the economy resulted in a net inflow of $9.35bn in the review period, compared with $9.99bn and $4.58bn at end-January 2020 and end-February…
July 16, 2020
In a bid to diversify her revenue source, the Federal Government of Nigeria hopes that the reform in the gold mining sector will earn the government $500 million a year in royalties and taxes and create 250,000 jobs. This extra revenue from gold could is expected to serve as a lifeline as the coronavirus pandemic…
July 16, 2020
Amidst fear of a second wave of the COVID 19 pandemic, the International Monetary Fund, IMF has urged governments to keep their support programs in place while disclosing that global economy is 'not out of the woods yet'. IMF’s Managing Director Kristalina Georgieva made this known earlier today in a message to G20 Finance Ministers…
July 16, 2020
As the race for the top job of the World Trade Organization (WTO) reaches a crescendo, former World Bank Chief, Nigeria’s Dr. Ngozi Okonjo-Iweala, and other candidates have called for a quick vetting and announcement of the candidate for the job. Ngozi Okonjo-Iweala said she hoped members would make a quick decision, saying the world…
July 15, 2020
The Central Bank of Nigeria, CBN has revealed that Nigeria recorded a revenue loss of over N400bn in February 2020 due to shortfall in both oil and non-oil revenues. For February 2020, the federal government of Nigeria's monthly budget estimate stood at N1.246 trillion but was able to realize only N845.14 billion leading to a…
July 15, 2020
By Kolawole Ojebisi Starting from August 1, banks will be able to debit the accounts of loan holders in other banks to clear defaults. This was revealed in Global Standing Instruction (GSI) guidelines published by the Central Bank of Nigeria (CBN) on Monday. According to the CBN, the GSI, which was developed in collaboration with…
July 15, 2020
