Oil Revenue Hits N85tr In Five Years
Nigeria earned $236.2 billion (about N85 trillion) from oil between 2014 and 2018, the Organisation of Petroleum Exporting Countries (OPEC) said in its 54th edition of Annual Statistical Bulletin. The revenue is 10 times the N8.91 trillion Budget signed last month by President Muhammadu Buhari as Appropriation Act for this fiscal year. Click here for more.
Oil pipeline vandalism affecting investment, says Shell
Citing the danger of continuous sabotage to people and environment, and attendant loss of revenue, Shell Nigeria has called for stakeholders’ support to curb the incessant vandalism of crude oil pipelines. Click here for more.
Customs Generates N5.5bn Daily – Comptroller-General
The Nigeria Customs Service said on Thursday in Lagos that, its revenue generation has increased to the region of N5.5 billion daily.The Comptroller-General, Col. Hameed Ali (rtd) made this known during a working visit to the headquarters of the National Association of Government Approved Freight Forwarders in Lagos. Click here for more.
Investors Lose N31.13bn As Market Sentiment Remains Negative; Sell Pressure Persists
Equities market closed yesterday on a negative note, as NSEASI depreciated by 0.23% to close at 30,029.15 points as against 0.73% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -4.46%. Click here for more.
Second Green Bond Offer Records 220% Oversubscription – DMO
The Debt Management Office (DMO), yesterday, said its second Sovereign Green Bond offering, where it sought to raise about N15 billion to support the Federal Government’s climate change project resulted in oversubscription of over 220 per cent. Click here for more.
Banks begin disbursement of creative industry intervention fund
The Bankers Committee of the Central Bank of Nigeria on Thursday said it was set to commence the disbursement of funds under the Creative Industry Financing Initiative. The decision to commence the disbursement of funds under the initiative was made at the end of the committee’s meeting held at the CBN headquarters in Abuja. Click here for more.
Nigeria missing out in global seafood market despite strong forex potential
Global demand for shrimps and prawns is on the rise and Nigeria’s seafood growers can earn substantial dollars from the non-oil export, but the growers are failing to tap the opportunity in the global $39 billion market. The Nigerian seafood industry is estimated at about $1 billion. Click here for more.
To Reduce Inequality, Employ Young People
Rising economic growth has reduced inequality in low-income and emerging market countries over the years. In good economic times, young people working helps reduce inequality in both groups of countries. But when growth slows down and jobs are lost, more young people out of work in low-income countries. Click here for more.
U.S. Blames Iran For Tanker Attacks In Gulf Of Oman, Iran Rejects Assertion
The United States blamed Iran for attacks on two oil tankers in the Gulf of Oman on Thursday that drove up oil prices LCOc1 and raised concerns about a new U.S.-Iranian confrontation, but Tehran bluntly denied the Allegation. Click here for more.
Over 600 U.S. Companies Urge Trump To Resolve Trade Dispute With China
Walmart Inc, Target Corp and more than 600 other companies urged U.S. President Donald Trump in a letter on Thursday to resolve the trade dispute with China, saying tariffs hurt American businesses and consumers. Click here for more.