In a bid to modernise Nigeria’s capital markets and ensure that it is well positioned to support economic transformation driven by private sector investment, the African Development Bank Group (AfDB) and the Securities and Exchange Commission (SEC) Nigeria have signed an agreement on $460,000 grant for Nigeria’s capital market surveillance system project. The grant is […]
The Nigerian Electricity Regulatory Commission (NERC) on Tuesday reported that total electricity generated in the country by the power generation plants in the third quarter of 2021 stood at 8.693 million Megawatts-hour (MWh), down from the quantum of generated electricity in the previous quarter. The commission gave this figure in its Third Quarter Report 2021 […]
The Central Bank of Nigeria (CBN) has reported that non-oil exports foreign exchange earnings surged by 166 percent to $2.4 billion in the first six months (H1) of 2022 compared to the inflows in the corresponding quarter of 2021 According to the latest forex data report by the apex bank, the $2.4 billion inflow was […]
Fitch Ratings, one of the world’s leading rating agencies, has affirmed the African Development Bank’s (AfDB’s) long-term credit rating: AAA with a Stable Outlook. The latest rating represents a very strong endorsement of the development finance institution’s financial strength and profile, as well as the extraordinary support of its shareholders. Fitch in its latest affirmation […]
President Muhammadu Buhari on Tuesday unveiled the new Nigerian National Petroleum Company Limited (NNPCL), which formally transformed the old government-owned Nigerian National Petroleum Corporation (NNPC) into a full commercial oil company, limited by shares. Speaking at the epoch-marking event at the banquet hall of the Presidential Villa in Abuja, the President said: “We are transforming […]
…..as Kwara displaces Kogi as state with highest food index Nigeria’s consumer price index (CPI), which measures the rate of change in prices of goods and services in the economy, rose to a five-year record high, surging from 17.71 per cent in May to 18.60 percent in June 2022. The National Bureau of Statistics (NBS) […]
The Executive Vice Chairman and Chief Executive Officer (EVC/CEO) of the Nigerian Communications Commission (NCC), Prof. Umar Danbatta, has stressed that interest of telecom services consumers be taken into consideration in the proposed tariff review now being canvassed by licensed operators in the industry. Danbatta, who gave the assurance while interacting with journalists at the […]
The Debt Management Office (DMO) on Friday, pursuant to its (Establishment) Act 2003 and the Local Loans (Registered Stock and Securities) Act, CAP. L17, LFN 2004, offered three Federal Government’s bonds for subscription by auction to the investing public. The Office, in a circular hoisted on its website, listed the debt instruments as including N75,000,000,000 […]
The International Monetary Fund (IMF) has expressed serious concern about the surging inflation rates, debt stocks, and food crisis in Nigeria and other African, warning that if not properly managed could threaten the recoveries of the economies and push them into another recessionary abyss. The Managing Director of the Washington-based multilateral financial institution, Kristalina Georgieva […]
The Minister of Communications and Digital Economy, Prof. Isa Ibrahim Pantami, on Thursday assured telecommunication services consumers that Nigeria’s telecom regulatory framework had been designed to address the challenges that may be associated with the advancement of the Internet of Things (IoT) in the country. Pantami, who gave this assurance at the twin event – […]