25 C
Lagos, South Africa and New York
Monday, September 21, 2020

Analysts see a repeat of failed power privatization in Nigeria’s plan to sell oil assets’

Experts and analysts believe that Nigeria's proposal to sell oil assets will be a repeat of the failed power sector privatization in 2013. “Nigeria’s track record on privatization and divestments has not exactly been the best, so people are probably going to greet this news...

Fitch: Nigeria will experience recovery in oil revenues, but…

Nigeria is likely to experience a recovery in oil revenues, but will continue to struggle with raising non-oil revenues, rating agency Fitch says. The Global Rating agency forecasts that Nigeria's general government fiscal deficit will remain broadly stable in 2017, at 3.9% of GDP, just...

CAMA Act will allow banks lend more funds to MSMEs — experts

By Itohan Abara-Laserian Lagos, Aug. 21, 2020 The newly signed Companies and Allied Matters Act (CAMA) 2020, if well implemented will enhance borrowings to the Micro, Small and Medium Enterprises (MSMEs) by financial institutions. Some stakeholders in the financial industry gave the submission at the...

Nigeria Economic Update: FMDQ Ignites Further FX Liquidity Flame

FMDQ ignites further FX liquidity flame The naira extended gains at the parallel market to a sixth consecutive month in July (+0.3% MoM to N365/$) following sustained CBN dollar injections into various FX market strata and increase in foreign portfolio inflows—with the strength of the...

Nigeria’s economic diversification demands natural capital accounting application- Ag. Director

By Ikenna Uwadileke Abuja, Sept. 16, 2020 The Ministry of Finance, Budget and National Planning says application of natural capital accounting to the country’s planning process is critical to attaining Nigeria’s economic diversification goals. Mr Aso Vakporaye, Acting Director, Economic Growth in the ministry...

Analyst Predicts Increase in Construction Activities As Nigeria’s 2019 Elections Draw Closer

Nigeria’s GDP growth figures came in at 1.95% in the first quarter of 2018, slowing from 2.11% in Q4’17. Nigeria’s construction sector also showed the same trend in the quarter. The sector’s growth dipped into negative territory (-1.54%) in Q1’18, after a 4.14% growth...

Nigeria’s economic recovery growth plan for launch in Feb – VP

A newly developed Economic Recovery Growth Plan (ERGP) of the Buhari administration designed to take the country out of recession and in the long term continue to grow the economy will be formally launched next month Vice President Yemi Osinbajo, SAN confirmed this earlier Wednesday...

A Further Healthy Rise in Reserves

Gross official reserves increased by US$1.33bn in October to US$33.83bn. Since the CBN stepped up its fx interventions in March by launching multiple currency practices (MCP) from sales previously of just US$1.5m per day, its reserves have risen by US$3.5bn. Higher oil exports have plainly...

Invest in Nigeria’s beautiful coastlines, tour operator urges govt, investors

By Taiye Olayemi/ Olaitan Idris Lagos, Aug. 28, 2020 A Lagos-based tour operator, Aminat Akanbi, has called on Lagos State and Federal Government to develop the nation’s beautiful coastlines and waterways to attract domestic and foreign tourists. Akanbi, Managing Director, Triplisters, made the call at the...

IMF says Nigeria’s naira over-valued by around 10 to 20 percent

LAGOS, April 5  - Nigeria's naira is over-valued by around 10 to 20 percent, the International Monetary Fund's (IMF's) country head said on Wednesday, when the organisation released a critical report on government efforts to boost growth in Africa's largest economy. "We do find there...
WP to LinkedIn Auto Publish Powered By : XYZScripts.com
Open chat
Send us your story