FG records N6 trillion loss across sectors due to Lagos gridlock

The Federal Government of Nigeria has lost not less than N6 trillion across all sectors of the economy as a result of the gridlock in the Apapa area of Lagos State. This is according to the Organised Private Sector (OPS). Click here for more.

FG Spent N610.2bn Servicing N13tn Domestic Debts In Q1

Within a three- month period, covering January to March this year, the Federal Government spent the sum of N610.2bn paying interest on its domestic debts. The amount is contained in a report on the nation’s debt which was obtained from the National Bureau of Statistics on Wednesday. Click here for more.

AfCFTA: Nigeria’s Economy Fragile, Not Competitive, Says NECA

 The Nigeria Employers’ Consultative Association said on Wednesday that Nigeria took great risks by signing the controversial African Continental Free Trade Area Agreement. The Director-General, NECA, Mr Timothy Olawale, said this on Wednesday. Click here for more.

Investors Lose N77.04bn As NSEASI Dips By -0.56%

Equities market closed yesterday on a negative note, as NSEASI depreciated by 0.56% to close at 28,042.80 points as against 0.49% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -10.78%. Click here for more.

SEC, NFIU Sign Agreement To Tackle Capital Market Fraud

In a statement in Abuja, Acting Director General of SEC, Ms. Mary Uduk, said the collaboration was necessary in order to close ranks in the face of insider dealings, re-awakening of Ponzi schemes, cybercrime and other fraudulent activities that have engulfed the market in the last few years. Click here for more.

Investors Gorge on African Bonds, But They’re Dodging Stocks

African local bonds are on a tear as investors flock to riskier assets. But the continent’s stocks are missing out, despite being much cheaper than their emerging-market peers. The AFMI Bloomberg African Bond Index, which groups the local-currency debt of eight nations including South Africa. Click here for more.

Nigeria, Ethiopia To Drive Africa’s Telecoms Subscribers’ Growth

This SSA growth is expected to be spearheaded by young African consumers as they become mobile users for the first time. Specifically, within this period, Nigeria, which currently has 174 million active telephone users. Click here for more.

Africa’s Emerging Agritech Market Worth Euro 5.3b

Africa’s emerging Agritech market is now valued at Euro 5.3 billion according to a new report by the Technical Centre for Agricultural and Rural Cooperation (CTA) and Dalberg Advisors. Cellulant’s Agrikore platform. Click here for more.

How campaign against waste saved N46b in 2019 budget

A joint campaign against wasteful and frivolous items and appropriations that have become routine in the national budget, led by Centre for Social Justice (CSJ), succeeded in eliminating up to N45.93 billion, out of the N74.18 billion flagged by their budget review in the 2019 fiscal plan. Click here for more.

Nigerian airlines ’ll operate on intercontinental routes by 2030

Experts in the aviation industry have projected that despite challenges in the industry, domestic airlines would become successful on international routes in a few years. This is as they lamented the Federal Government’s unfavourable policy on Bilateral Air Services Agreement with other countries. Click here for more.

U.S. Lawmakers Challenge Facebook Over Libra Cryptocurrency Plan

U.S. lawmakers bashed Facebook on Wednesday over its planned cryptocurrency, saying the company had not shown it could be trusted to safeguard the world financial system and consumers’ data. Click here for more.