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Economy staved of N534bn power sector inefficiency in 2016- Avuru

MORE turbulence may continue to linger in the country’s economy, as it losses over N534 billion revenue a year to the inefficiency of the power sector, Managing Director, Seplat Petroleum Development Company, Dr. Austin Avuru, has said yesterday.

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Naira depreciates further to N360.33/$ in NAFEX

The naira, yesterday, depreciated further to N360.33 per dollar in the Investors and Exports (I&E) Foreign Exchange, forex Window.
Data from the Financial Market Dealers Quote, FMDQ showed that the indicative exchange rate for the I & E Window, known as Nigerian Autonomous Foreign Exchange, NAFEX declined to N360.33 per dollar, yesterday, from N360.25 per dollar on Wednesday. Hence the naira has depreciated marginally by 8 kobo per dollar.

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BoI’s loan to Kaduna MSMEs hits N47bn

THE Bank of Industry (BoI) has disbursed loan in excess of N47billion to support entrepreneurs in Kaduna State in the micro, small and medium enterprises, MSMEs, category, Managing Director of the bank, Mr. Olukayode Pitan, has said. Pitan, who disclosed this at a meeting with the Kaduna State governor, Mallam Nasir el-Rufai, added that the loan facility engendered over 84,500 direct and indirect jobs.

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