External Debt Servicing Gulps $357.26m In Three Months

The Federal Government spent a total of $357.26m in the first three months of the year to service external debt, the Debt Management Office has disclosed. Statistics obtained from the DMO in Abuja on Thursday showed that commercial loans gulped the largest amount spent on external debt servicing in the first quarter of the year. Click here for more.

TSA: FG Collects N10tn From 1,674 MDAs

Since the start of the implementation of the Treasury Single Account in 2012, the Federal Government has collected over N10tn from 1,674 Ministries, Departments and Agencies. The TSA initiative, which is one of the public financial management reforms, had led to the closure of over 20,000 bank accounts. Click here for more.

History repeating itself as President Buhari grounds work on capital projects

Work on capital projects by the Ministries, Departments and Agencies has continued to remain grounded two months after the 2019 Budget was signed into law. The MDAs are currently in a capital dilemma that is affecting implementation of their projects. Click here for more.

NNPC dispels fuel scarcity rumour

The Nigerian National Petroleum Corporation (NNPC) has advised motorists and other petroleum products consumers to disregard reports about increase in petrol pump price. It said the statement of the Corporation’s Group Managing Director, Mallam Mele Kyari, at the National Assembly on Thursday did not suggest any plan to increase the price of the white product. Click here for more.

Investors Lose N264.97bn As NSEASI Dips By -1.86%; Closes Below 29,000bpts

Equities market closed yesterday on a negative note, as NSEASI depreciated by 1.86% to close at 28,712.90 points as against 0.21% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -8.65%. Click here for more.

CBN Mobilises Military Support for Textile Industry

Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, Thursday urged service chiefs as well as chief executives of para-military organisations and other agencies, to support the ongoing initiatives by the apex bank to revive the cotton, textile and garment (CTG) industry, through their patronage of locally manufactured uniforms. Click here for more.

Airtel and MTN Nigeria are sending bad signals from NSE to Glo, 9mobile

In May 2019, MTN Nigeria listed on the Nigerian Stock Exchange (NSE). The move was perceived by many as both an invitation and a challenge to other telecoms companies to do the same. Since then, Airtel Africa has equally listed, even as it remains Globacom and 9mobile. Click here for more.

NCC Charges Telcos To Double Telecom Investment To $140bn

The executive vice chairman, Nigerian Communications Commission (NCC), has charged licenced mobile network operators (MNOs) to double their telecom investments to $140 billion over the next 10 years by deploying pervasive network infrastructure across the country. Click here for more.

MSMEs Grew To 41.5m In 2017 – NBS

The Micro, Small & Medium Enterprises (MSME) has grew to 41.543 million in 2017, according to the National Survey of Micro Small & Medium Enterprises (MSMEs). The National Survey of Micro Small & Medium Enterprises (MSMEs) 2017 launched yesterday in Lagos. Click here for more.

AfCFTA Agreement: NANTS Urges FG To Boost MSMEs Funds, Productivity

The National Association of Nigerian Traders (NANTS) has called for increased funds and productivity for the Micro, Small and Medium Enterprises (MSMEs) to benefit from African Continental Free Trade Area (AfCFTA) agreement. Click here for more.

Sobering 2020 outlook for Nigeria, others as production output rises

Organisation of the Petroleum exporting Countries (OPEC’s efforts to boost oil prices look set to become even more challenging next year, with increasing competition for market share from higher non-OPEC output, the group’s first 2020 forecast shows. Click here for more.