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Browse Nigerian economy news, research and analysis from Local and international analysts. Follow Nigeria’s financial and monetary policies from Central Bank of Nigeria and other business And economic indicators

#EndSARS protests: Inflation may rise if looting continues — Economist

By Folasade Akpan Abuja, Oct. 27, 2020 Dr Aminu Usman, an Economist says inflation may worsen if looting continues and states are forced to shut down, especially Lagos, as a result of effects of the activities of hoodlums in the aftermath of the #EndSARS...

Micro, Small, Medium and Large Scale Businesses, Individuals Borrowed N1.8trn, $1.36bn Under CBN’s Collateral Registry – Emefiele

Individuals as well as Micro, Small, Medium and Large Scale Enterprises received loans totaling ₦1.80trn, $1.36bn and €10.92m under the Central Bank of Nigeria’s National Collateral Registry (NCR) established since 2015. The CBN Governor, Godwin Emefiele, disclosed this on Tuesday at a virtual workshop held...

COVID-19 affected DisCos’ collection efficiency, remittance in Q1 2020 – NERC

By Solomon Asowata Lagos, Oct. 27, 2020 The Nigerian Electricity Regulatory Commission (NERC) on Tuesday said that the COVID-19 pandemic affected collection efficiency and remittance by the 11 Electricity Distribution Companies (DisCos) in the first quarter of 2020. NERC made this known in the First Quarter...

59.6 per cent electricity consumers on estimated billing — NERC Q1 Report

By Solomon Asowata Lagos, Oct. 27, 2020 The Nigerian Electricity Regulatory Commission (NERC) on Tuesday said 59.6 per cent of electricity consumers in the country were still on estimated billing as at March 2020. NERC made this known in its First Quarter 2020...

CACOVID to commences distribution of Palliatives to state Govts in June 2021

…Targets 10 million poor families in 774 LG Members of the private sector-led coalition against COVID-19 (CACOVID) has enjoined Nigerian who are involved in the wanton destruction of Public and Private properties and even looting of the warehouses where the palliatives are kept to immediately...

Private sector-led growth strategy will boost Nigeria’s FDI, job creation — IFC Report

By Nkiruka Nnorom THE International Finance Corporation, IFC, a member of the World Bank Group, has said that Nigeria could attract the much needed Foreign Direct Investment, FDI, into the country and create millions of jobs with adoption of a broader private sector-led growth strategy. IFC...

Mambila power project: Senate raises concern over non appearance, zero allocation in 2021 budget

By Kingsley Okoye Abuja, Oct. 26, 2020 The Senate on Monday berated the Federal Ministry of Power over the non provision of budgetary allocation in the 2021 budget for the execution of the Mambila Power Project in Taraba state. The Senators expressed their displeasure when...

Reps C’ttee to take up funding of NEPAD with SGF

By EricJames Ochigbo Abuja, Oct. 26, 2020 The House of Representatives Committee on Cooperation and Integration in Africa says deliberate action must be taken to fund the New Partnership for Africa’s Development (NEPAD) to alleviate poverty in Nigeria. The Chairman of the committee, Rep. Umar Bago...

Nigeria loses N54bn daily loss under #Endsars curfew – Greenwich Bank

According to Ayodeji Ebu, Senior Economist/Head, Research & Strategy, Greenwich Merchant Bank, the unrest and subsequent 24 hours curfew imposed by the Lagos State Government to restore peace and order may have cost the state at least N54 billion each day that the curfew...

DISCOs collected N114bn revenues in Q1 of 2020 – NERC

By Chris Ochayi The latest quarterly report issued by the Nigerian Electricity Regulatory Commission, NERC, showed that a total of N114 billion was collected as revenue by the 11 electricity Distribution Companies, DISCOs in the first quarter of 2020. The report also indicated that while the...
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