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Sunday, July 5, 2020

With constant oil slump, Nigeria needs to use multiplier effects to make local industries globally competitive, boost economy

The slump in crude oil prices in the global market has fuelled the need for Nigeria to stop crude oil exports and feed local refineries to boost the exports of refined products and supplies of fuel to industries, THISDAY has learnt. Following the dwindling oil...

What To Expect From Nigeria Economy This Week – April 20, 2020

Nigeria Government submitted a revised budget of NGN10.27 trillion, against NGN10.60 trillion previously approved. In the new budget, the deficit level is at a historical high of NGN5.2 trillion (previously NGN2.18 trillion), due to the downward revision in revenue estimates. While revenue was previously estimated at...

COVID-19: Business Leaders, CEOs worry over Liquidity concerns, job safety– PwC

Business owners in the country have identified problems of liquidity and the safety of their employees’ jobs as among the most pressing business needs they are concerned about as they continue to contend with the challenges of the COVID-19 pandemic. These concerns were part of...

Nigeria’s High Debt Service, Low Revenue Collection

By FBNQuest Research                                                                                  From the DMO’s quarterly data release, we see that the FGN’s domestic debt service totaled N254bn in Q4 2019, compared with the year-earlier figure of N223bn. This was the first increase on a y/y basis since Q3 2018, which we view...

Pick and Mix in Nigeria’s Response to the COVID-19 Virus – FBNQuest

The coronavirus knows no boundaries so governments across the world are struggling to protect their populations and their economies as best they can. In advanced economies the focus has been monetary and fiscal, along with measures of social control. In Nigeria the lead role to...

Souring investor’s sentiment on Nigeria could spark foreign outflows over virus concerns, Fitch says

The spread of the coronavirus and tumbling oil prices could trigger a capital exodus from Africa, where governments have few tools available to battle external shocks, according to Fitch Ratings. Top oil exporters such as Nigeria especially vulnerable to the plunge in crude. The commodity...

More reactions trail outcome of CBN MPC meeting

A financial economist, Prof. Ndubisi Nwokoma, says the CBN Monetary Policy Committee’s decisions at its last meeting are a “short term” response to the Covid-19 crisis. Nwokoma, Director, Centre for Economic Policy Analysis and Research, University of Lagos, Akoka, spoke with the News Agency of...

Nigeria may Experience Another Economic Recession in 2020 as Expert see″$20 Oil Coming,”

Nigeria’s economy may experience another recession in 2020 as Oil experts has predicted oil price may slip into $20 a barrel in 2020, because of the Covid-19 global crisis and the effect on oil industry, Naija247news.com understands. Experts are calling dramatically lower crude prices as...

INSIGHT: Nigeria needs to Reform Tax Laws Governing M&A

Mergers and acquisitions (M&A) deals have become popular In Nigeria as they provide an avenue for companies to meet with regulatory requirements. In 2018, the Acting Director-General of the Nigerian Securities and Exchange Commission (SEC) reported that the Commission had approved about 120 merger-related...

“Slow internet, Foreign Hosting bane of POS, ATM Services” – Analysts

Over the past few weeks, the fluctuating nature of local internet services has left several subscribers and business owners at their wits end, due to the disruptions to their business operations or their E-commerce activities. The biggest casualties of the down time due to...
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