Banking Economy News Extra Latest News

CBN Forecasts Increased Credit To Corporate Sector In Q4, 2019

The Central Bank of Nigeria (CBN) has predicted that credit to the corporate sector in the last quarter of this year would increase, despite the drop in Q3, 2019. This is even as it forecasts in its Credit Conditions Survey Report for Q3, 2019 that  lending to households, which increased in the third quarter, would  […]

Economy News Extra Latest News Power/Electricity

NCP Approves Preferred Bidders For Afam GenCo, Yola Disco

The National Council on Privatisation (NCP) has approved Transcorp Power Consortium as the preferred bidder for the Afam Electricity Generation Company (Afam Power Plc and Afam Three Fast Power Limited). The approval was granted based on the bid price of N105.3 billion (about US$343.6m) offered by the Consortium while Diamond Stripes Consortium was approved as […]

Agriculture & Agribusiness Economy News Extra Latest News Manufacturing

FG To Sustain Interventions In Agric Sector – Buhari

President Muhammadu Buhari on Thursday restated his administration’s commitment to sustain interventions in the nation’s agricultural sector to boost economic growth and create jobs for the unemployed in the country. The President gave the assurance at the National Agricultural Show to mark this year’s World Food Day celebration held at National Agricultural Showground, Tudun Wada, Keffi, […]

Economy News Extra Insurance & Pension Investments/Capital Market Latest News

NAICOM Lists Benefits Of Recapitalisation To Nation’s Economy

The National Insurance Commission (NAICOM), has restated the importance of the ongoing recapitalization agenda to the nation’s risk underwriting industry, saying its successful completion will  position operators on a stronger footing that would be beneficial to the industry and the nation’s economy. The acting Commissioner for Insurance, Mr. Sunday Thomas, who made this remark at […]

Economy News Extra Latest News Oil & Gas

LPG Prices Drop As Ebonyi, Abuja, Kano, Lagos Consumers Buy At Lowest Prices

The National Bureau of Statistics (NBS) reported on Thursday that the average price for the refilling of a 5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) decreased by -1.21% month-on-month and -6.23%  year-on-year to N1,976.11 in September 2019 from N2,000.34 in August 2019. Similarly, average price for the refilling of a 12.5kg cylinder for Liquefied […]

Banking Economy News Extra Foreign Latest News Political Economy

IMF Endorses CBN’s Policy Initiatives To Grow Economy

The International Monetary Fund (IMF) has reiterated its support for the Central Bank of Nigeria’s (CBN’s) sustained tight monetary policy and other measures being implemented to stabilize the Nigerian financial system and improve the nation’s economic growth. The support was expressed by the multilateral financial institution’s  Chief Economist and Director of Research Department, Gita Gopinath, […]

Economy News Extra Latest News Political Economy

Nigeria’s Inflation Rises To 11.24% in Sept

Nigeria’s  consumer price index, (CPI) which measures inflation, increased by 11.24 percent (year-on-year) in September 2019, representing 0.22 percent points higher than the 11.02%  recorded in the preceding month. The National Bureau of Statistics (NBS) attributed the marginal rise of the rate to increases in all the Classification of Individual Consumption by Purpose (COICOP) divisions […]