Subsidy payments, summer travels, students’ exodus worsen naira depreciation — Investigation
By Babajide Komolafe, Economy Editor The burden of under-recovery for fuel subsidy cost borne by the Nigeria National Petroleum Corporation, NNPC, Limited, and hence its inability to remit into the federation account, is a major factor worsening the prevailing acute scarcity of the dollar driving the continued depreciation of the naira. Other factors include increased forex […]
Developing Asia’s growth prospects dim amid U.S.-China trade conflict
Escalating trade tensions between China and the U.S. have dampened prospects for developing Asia, with the region’s economy expected to grow slower than predicted this year and in 2020, the Asian Development Bank (ADB) said on Wednesday. The Manila-based ADB scaled down its forecast for economic growth in developing Asia, which includes 45 countries in […]
Bankers Committee unveils N200bn fund for 5 cash crops
The Bankers Committee yesterday announced a N200 billion credit facility to boost production and export of five cash crops. The cash crops are Coaca, Oil Palm, Shea Butter, Sesame Seed and Cashew
Mounting concerns over Nigeria’s weak disposable income
Concerns have continued to mount over continuous depletion in the country’s disposable income, which stood at N30 trillion as at second quarter (Q2’18).
Inaccurate data, govt interference, inefficiency threaten power supply – GENCOs
THE Electricity Generation Companies, GENCOs, have identified inaccurate data, government interference, and inefficiency as major factors, currently affecting power supply in the country.
“God has given me everything”, says Otunba Subomi Balogun at 85
Otunba Subomi Balogun, the founder of FCMB Group is full of gratitude as he marks 85 years in his illustrious journey on earth. “God has given me everything”, he said.
How I&E forex window buoyed naira stability with $50bn inflows
By Babajide Komolafe Foreign exchange inflows through the Investors and Exporters (I&E) foreign exchange window hit the $50 billion at the end of February. This huge inflow was instrumental to the stability of the naira against the dollar since 2017. The Investors and Exporters (I&E) forex window allows investors and exporters to purchase and sell […]
Inaccurate data, govt interference, inefficiency threaten power supply – GENCOs
THE Electricity Generation Companies, GENCOs, have identified inaccurate data, government interference, and inefficiency as major factors, currently affecting power supply in the country.
How mergers impact confidence in banks and their customers
The desire for bigger financial strength in order to expand market share and deliver superior products to a larger consumer base is increasingly driving more companies to mergers and acquisition (M&As).
How off-grid devt ‘ll rescue Nigeria power sector
Development of off-grid power distribution solution, otherwise, known as standalone power system will open up the power sector to more investment opportunities from within and outside the country, thereby contributing to economic productivity and Gross Domestic Product (GDP) growth,a n investment banking firm, Emerging Africa Capital Group, has said.
Oil price rises as uncertainty over Nigeria elections, Venezuela tension mounts
AS Nigeria’s stock market turn positive with significant capital gains ahead of official conclusion of the general elections, oil prices, yesterday shot up, apparently over uncertainty over the outcome of the election’s as well as the political tension in Venezuela. Also the pressure on oil price appears to be coming from a positive sentiment over United States–China talks.
