Economy

NNPC obtains $1bn to fund NPDC’s upstream operations

The Nigerian National Petroleum Corporation (NNPC) says it has obtained a prepayment funding of about $1 billion to support the…

6 years ago

N386/$ exchange rate not sustainable – BDC operators insists

The Association of Bureau de Change Operators of Nigeria (ABCON) has insisted that the new exchange rate for the BDCs…

6 years ago

Analysts say Nigeria on course for second recession in 5 year

Analysts at InvestmentOne Research have expressed concerns that Nigeria is on the course for its second recession in five years.…

6 years ago

CBN fixes N5bn as minimum capital base for MMO

The Central Bank of Nigeria, CBN, has fixed N5 billion as the minimum capital base for Mobile Money Operators (MMO)…

6 years ago

CBN COVID-19 palliative boosts banks lending

Banks have recorded an increase in their lending to private sector as it rose by 2.57 per cent to N30.19trn…

6 years ago

CBN cuts interest rate on savings deposits

The Central Bank of Nigeria (CBN) has slashed the interest rate payable on monies held in savings accounts to around…

6 years ago

Food Security: FG to inject N600bn into agriculture

The Federal Government is set to inject over N600 billion as stimulus-response into the agriculture sector to cushion the adverse…

6 years ago

Cumbersome system in ports hinders trade facilitation ― NCMDLCA president

President, National Council of Managing Directors of Licensed Customs Agents (NCMDLCA), has stated that the cumbersome and archaic system in…

6 years ago

COVID-19: NNPC to slash workers salary amid high operational cost, others

Due to the significant increase in operational cost of about 46 percent of its income from crude oil, the Nigerian…

6 years ago

FG to sustain 2020 budget funding amid GDP contraction

The federal government has expressed its determination to continue funding the 2020 budget to ensure that the economy recovers as…

6 years ago

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