World Bank Loan Portfolio In Nigeria Now $8.67bn

Loans from the International Development Association, one of the three arms of the World Bank, make up $8.55bn of the portfolio. Loans from the International Bank for Reconstruction and Development, another arm of the Breton Woods institution, make up $124.18m of the portfolio. Click here for more.

FAAC disbursed N1.92trn to 3 tiers of govt in 1st quarter – NBS

The Federation Account Allocation Committee (FAAC), disbursed N1.92 trillion to three tiers of government in first quarter of 2019, according to the National Bureau of Statistics (NBS). The NBS stated this in FACC monthly allocation for January, February and March, 2019 disbursement statistics published on its website on Monday in Abuja. Click here for more.

NNPC Unlikely to Become Profitable with Huge Under Recovery Cost – Kachikwu

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said that Nigeria’s continuous subsidising of petrol consumption means the Nigerian National Petroleum Corporation (NNPC) will remain unprofitable in for a long time. Click here for more.

Daily Gas Supply To Power Plants Hits 300m Scf – NNPC

Group managing director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has stated that NNPC was responsible for 75 per cent of gas supply to power plant in the country to the tune of over 300 million standard cubic feet (Scf) of gas per day. Click here for more.

FIRS, CBN to Track VAT Paid By Foreign Entities

The Federal Inland Revenue Service is seeking the support of the Central Bank of Nigeria to track payment of Value Added Tax made electronically by foreign entities that are not registered in Nigeria. The agency said this in a document detailing its strategic revenue growth initiatives for 2019 to 2021 which was submitted to the National Assembly. Click here for more.

CBN’s Efforts To Revive The Textile Industry

Interventions of the Central Bank of Nigeria (CBN) aimed at pulling the nation’s textile and garment industry out of the strings of neglect and misfortune appears overambitious; but it will pay off if the relevant stakeholders in both private and public sectors cooperate with the ongoing policy thrust aimed at breathing life into the sector. Click here for more.

Investors shun bank shares despite N720 billion profit

Though the combined profit, in excess of N720 billion, of the five top-tier banks on the Nigerian Stock Exchange (NSE) has remained strong, investors are showing apathy towards banking stocks. Click here for more.

Telecom Operators Record 14,639 Porting Activities In February – NCC

The NCC made this known in its “Incoming and Outgoing Porting Activities of Mobile Network Operators’ Report’’ on its website. Click here for more.

40% African Bank Customer Embrace E-Payment, Says Report

In four of the continent’s major banking markets, the share of customers who prefer digital channels is significantly higher than the share preferring the branch channel, according to a 2018 report by McKinsey & Company on Growth and innovation in African retail banking. Click here for more.

Oil Price Hits Six-Month High Of $74

The international oil benchmark, Brent crude, surged on Monday to its highest level since late October 2018 after the United States President, Donald Trump, announced the decision to end waivers that allowed some countries to buy crude oil from Iran without facing US sanctions. Click here for more.

Errors to avoid when starting a small business

Many businesses collapse within a short period of time because it is not simple to start a business. There are so many things to think about and decisions to make when one intends to start a business. Such a pressure can cause you to make a poor decision that can hurt your potential for success, or at least set you back. Click here for more.