Nigeria Banks To Restructure 33% Of Loans – CBN
Nigeria banks have applied to the Central Bank of Nigeria (CBN) for permission to restructure 33% of their loans due to the fallout from the coronavirus pandemic and a slump in oil…
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Anxiety As Debt Service Burden Stokes Bankruptcy – External Loans Now 91.4% Of Foreign Reserves
With the recent Senate’s approval of President Muhammadu Buhari’s $5.513 billion loan request, it has bumped the country’s external debt profile to $33.18 billion, representing about 91.4 percent of the…
Continue readingNigeria Aviation Industry Loses N63 Billion To Effects of COVID-19
The Nigeria aviation Industry has lost over N63 billion to the ravaging effects of COVID-19, a report by the Nigeria Ministry of Aviation has revealed. Describing the air transport value…
Continue readingOpinion: Who Benefits When The Stock Market Goes Up? Probably Not You
The stock market has proved freakishly immune to the economic suffering inflicted by the coronavirus pandemic, posting some of its largest gains in history even as members in 1 in 2 American households have lost income. Yet the…
Continue readingPresident Buhari Approves ₦123 Billion, Nigeria’s Counterpart Fund For Ibadan-Kano Rail
President Muhammadu Buhari has approved the payment of $318m (about N123bn) as counterpart funding to the Chinese Government for the Ibadan-Kano Rail project. Nigeria Minister of Transportation, Mr. Rotimi Amaechi…
Continue reading39.4 Million Jobs May Be Lost Before The End of 2020 – Economic Sustainability Committee
The Economic Sustainability Committee, headed by Vice-President Yemi Osinbajo has heightened the fear that except something urgent is done, about 39.4 million Nigerians may be jobless by the end of…
Continue reading20 Ships To Discharge Fuel, Food and Other Goods At Lagos Port
20 ships will discharge petroleum products, food items, and other goods at the Lagos ports, as reported by The Nigerian Ports Authority (NPA). The NPA disclosed this in its publication,…
Continue readingNigeria Stock Market Records N63bn Loss On Profit-Taking
The Nigerian Stock Exchange All-Share Index dropped by 120.11 basis points or 0.47 percent to close at 25,215.04 from 25,335.15 on Tuesday. The market capitalisation of equities fell by N63bn…
Continue readingCBN To Fund 1.6 Million Farmers For 2020 Wet Planting Season
The Central Bank of Nigeria (CBN), is set to provide agricultural funding for about 1.6 million farmers during the 2020 wet planting season. The CBN stated it would support farmers…
Continue readingHow illegal Gold Mining In Nigeria Is Rips Off Forex Revenue
With crude oil trading at around $35 per barrel, untapped solid minerals offer Nigeria the opportunity to diversify and earn more foreign exchange (forex), as gold currently trades at 1,683.65…
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