Despite Concerns over Rising Debts, Senate to Approve Buhari’s $30bn Loan Request

Despite huge concerns over Nigeria’s rising debt profile, the President of the Senate, Dr. Ahmad Lawan, yesterday said with sufficient information supplied by the federal government to back its request to borrow $29.9 billion, the Senate would approve the external loan request. Click here for more.

FG Eyes $23tn Emerging Markets Funds to Combat Climate Change

The federal government is to deepen its climate financing activities by tapping into international climate funds next year. Thisday gathered that the federal government would next year intensify efforts to attract significant portion of the nearly $23 trillion. Click here for more.

Refineries Lost N111bn In Nine Months, Says NNPC

The three refineries owned by the Federal Government lost a total of N111.27bn from January to September this year, the Nigerian National Petroleum Corporation said in its September report. Click here for more.

Investors Gain N76.73bn As NSEASI Inches Up By +0.60%; Erases Previous Day Loss

Equities market closed yesterday on a positive note, as NSEASI appreciated by +0.60% to close at 26,695.18 points as against -0.13% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -15.07. Click here for more.

Headline Inflation Increases By 11.85% YoY In November 2019; 0.24% Higher Than October 2019 Rate

The consumer price index, (CPI) which measures inflation increased by 11.85 percent (year-on-year) in November2019. This is 0.24 percent points higher than the rate recorded in October 2019 (11.61) percent. Increases were recorded in all COICOP divisions that yielded the Headline index. Click here for more.

How insurers’ N6 billion claims settlement in Q3 raised confidence

The modern insurance claims process is increasingly complex. More variables and data are constantly coming into play, but carriers must determine appropriate settlements and flag potential fraud faster than ever. Click here for more.

AfDB approves $5 million for entrepreneurs under Tony Elumelu Foundation 

The Tony Elumelu Foundation Entrepreneurship has received a grant of $5 million from the African Development Bank (AfDB) to support entrepreneurs operating small to medium-sized enterprises. Click here for more.

What you need to know about new BVN 2.0

Central Bank of Nigeria and the Bankers’ Committee has started the Bank Verification Number (BVN) classification (BVN 2.0) plan that allows both the rich and poor in rural areas access financial services. Click here for more.

LIRS Introduces e-Tax Platform

The Lagos State Revenue Service (LIRS) has introduced an e-platform portal to make the process of tax payment easier and faster. This was made known by the chairman, LIRS, Mr. Ayodele Subair, at a stakeholders’ meeting on the new initiative, held in Lagos recently. Click here for more.

Concerns rise over annual importation of 700,000mt of sugar into Nigeria

The Federal Government has raised concern over the annual importation of about 700,000 metric tonnes (MT) of sugar into the country despite the abundance of the resource locally. Click here for more.

Fuel consumption hits 67.66 million litres/day, subsidy gulps N10.1bn

The average daily consumption of petrol has hit 67.66 million litres, indicating an increase of 33.89 million litres when compared to daily consumption figures recorded in September 2019. According to the Petroleum Products Pricing Regulatory Agency, latest weekly data covering November 28, 2019. Click here for more.

Angola’s national carrier begins flight to Nigeria

Angola’s national carrier, TAAG Angola Airlines, has commenced flights into Nigeria. The airline’s maiden flight arrived at the Murtala Muhammad International Airport, Lagos on Monday afternoon. Click here for more.