FG Yet To Fund Capital Projects 43 Days After Budget Assent
Forty-three days after the 2019 budget was signed into law by President Muhammadu Buhari, the Federal Government has yet to release funds to Ministries, Departments and Agencies for the implementation of capital projects. Click here for more.
Power crisis’ll limit AfCFTA benefits to Nigeria – Gencos
Nigeria may not benefit much from the recently signed African Continental Free Trade Area agreement until the country’s power problems are adequately addressed, power generation companies said on Wednesday. Click here for more.
Nigeria’s Debt Rises To N24.95tn In Two Years
Nigeria’s total public debt now stands at N24.95tn, the Debt Management Office has said. Statistics obtained from the DMO on Wednesday showed that the country’s total debt stood at N24.95tn as of March 31, rising from N19.16tn as of March 31, 2017. Click here for more.
Lagos State Internal Revenue Service may start using BVN to collect taxes
In a bid to capture more people in the tax net and boost its revenue, the Lagos State Internal Revenue Service (LIRS) is reportedly planning to start using Biometric Verification Numbers (BVN) to taxpayers. The move has attracted wide-spread criticisms. Click here for more.
Senate asks FG to save indigenous airlines from collapse
The Senate on Wednesday said indigenous airlines could go into extinction if spirited efforts were not put in place to halt designation of multiple routes within Nigeria to foreign Airlines. Click here for more.
Investors Lose N29.93bn As Market Sentiment Turns Negative
Equities market closed yesterday on a negative note, as NSEASI depreciated by 0.21% to close at 29,256.60 points as against 0.10% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -6.92%. Click here for more.
Nigeria Bars Interest Payments on Bank Deposits Above $5.5 Million
Nigeria unveiled another set of measures aimed at forcing lenders to extend more credit in an effort to revive economic growth, this time cutting the amount of money companies can keep in interest-bearing accounts at the central bank. Click here for more.
EFG Herms thinks CBN’s directives could be damaging to Nigerian banks
Several reactions have continued to trail the Central Bank of Nigeria’s recent directive ordering all commercial banks within the Nigerian banking industry to maintain a minimum loan to deposit ratio (LDR) of 60% starting from September 2019. Click here for more.
Power Supply Dropped By 31% In Q2
Power supply to Nigerian households experienced a marginal decline to stand at 31 percent in the second quarter of 2019 from 37 percent obtained in the first quarter of 2019. This was revealed in the new Power Poll released by NOIPolls, yesterday, in Abuja. Click here for more.
How Nigerian SMEs can overcome hurdles, make profit
Despite the peculiar challenges that greet Small and Medium Enterprises (SMEs) in Nigeria, it is no gainsay that the hurdles can still be surmounted, experts have had to assert. Since the establishment of Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) in 2003. Click here for more.
Ramaphosa Opts for Continuity at Central Bank as Kganyago Stays
South African President Cyril Ramaphosa has reappointed Lesetja Kganyago as governor of the Reserve Bank and named two deputies from his existing team, ending uncertainty about the top management at one of the nation’s key economic institutions. Click here for more.