Oil price outlook supporting Nigeria’s growth, says IMF

The International Monetary Fund (IMF) has said that despite its reversal of Nigeria’s growth forecast, a positive oil price outlook will support the country’s challenging economy in 2019. Click here for more.

Ministers, Lawmakers Among N5tn Chronic Debtors – AMCON

The Managing Director/Chief Executive Officer, Asset Management Corporation of Nigeria, Ahmed Kuru, said the chronic debtors of the corporation were occupying top government positions. Click here for more.

$1billion military spending shrinks Excess Crude Account to $480 million

Nigeria’s Excess Crude Account has dropped to $480 million. This is as controversy continues to trail the $1 billion military spending which was withdrawn from Nigeria’s Excess Crude. Nigeria‘s Excess Crude Account has largely depleted in the last 5 years, and currently stands at $480 million. Click here for more.

Nigeria at Risk of Losing $15 Billion of Crisis-Era Bad Loans

Nigeria is facing the risk of never recovering about 5.5 trillion naira ($15 billion) of bad loans taken over during a banking crisis more than a decade ago. That is how much the state-owned Asset Management Corp., or Amcon, still has to collect from Nigerian companies that have failed to repay the debts they once owed lenders. Click here for more.

Market Resumes Negative Posture As NSEASI Dips By -0.20%

Equities market closed yesterday on a negative note, as NSEASI depreciated by 0.20% to close at 28,088.74 points as against 1.21% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -10.63%. Click here for more.

Investors Stake N301bn In FG’s N145bn Bonds

Investors demonstrated their thirst for investment outlet on Wednesday as they staked more than N300bn even though the Federal Government sought to raise N145bn through its monthly offer of the FGN Bonds. Click here for more.

CBN Injects Fresh $210m into Interbank Forex Market

The Nigerian inter-bank foreign exchange market received another boost of $210 million from the Central Bank of Nigeria (CBN) following transactions concluded the previous day. Click here for more.

CBN predicts Nigeria’s inflation to remain double digit

Though inflation dropped by 0.18 points in June 2019, the Central Bank of Nigeria (CBN) has revealed that Nigeria’s economy will continue to witness double-digit inflation throughout 2019. This was disclosed by the CBN Governor, Godwin Emefiele. Click here for more.

MTN Nigeria gets new Chairman as Pascal Dozie steps down

MTN Nigeria has announced that its Board Chairman, Pascal Dozie, will be leaving his position alongside five other Non-Executive Directors. Dozie has occupied the Chairmanship position for 18-years since MTN began operation in Nigeria. Click here for more.

Nigeria Ranks 114 Globally In Innovation

Nigeria is among the low-middle income countries that are underperforming in the creation and utilisation of innovations, the 2019 Global Innovation Index released on Wednesday said. The study said Africa’s largest economy performed below expectations compared with the level of economic development in the country. Click here for more.

Nigeria’s $23.5m Sheep, Goat Leather Export Potential Untapped

Information from the Nigeria Export Promotion Council (NEPC) showed that Nigerian exporters can make about $6.3 million from export of prepared sheep/lamb and $17.2 million from export of prepared goat leathers from now to 2021. Click here for more.

Central Bankers Playing a Dangerous Game With Asset Prices

The world’s central banks are in danger of storing up problems for later by taking action to ensure the economic expansion stays on track. In cutting already low interest rates to bolster a sagging global economy, monetary policy makers risk fueling asset bubbles that may eventually burst and propping up zombie companies that could keep dragging down growth. Click here for more.