Browsing: Economy
FIRSTBANK WINS 2019 OIL AND GAS BANKER AWARD. First Bank of Nigeria Limited has won Oil and Gas Banker of Year 2019 award. The award was presented at the Patrons’ Dinner and Industry Awards of the Nigeria International Petroleum Summit held recently at Transcorp Hilton, Abuja.
Analysts say Electricity cost may fuel core inflationary pressures. Analysts at Cardinalstone Partners have stated that electricity cost may stoke core inflation pressures from April onward
“Borrow to transform Nigeria’s economy, investment firm tells FG” Contrary to high level criticisms on Nigeria’s rising debt profile, experts…
SEC generates N194.48million from penalties The Securities and Exchange Commission, SEC, has said it generated N194.48 million from penalties in…
Declining Excess Crude Account highlights economic exposure to shocks. Analysts have said the declining Excess Crude Account (ECA) highlight vulnerability of the nation’s economic prosperity and growth to shocks. ECA fall to $72 million on February 19th, from $365 million on January 16th, 2020.
CBN’s waiver on milk imports to ease pressure on food inflation. Tellimer’s equity research analyst, Nkemdilim Nwadialor, has said that the Central Bank of Nigeria’s waiver on milk imports would ease pressure on food inflation.
Nigeria loses $750 million to oil theft in 2019 – NNPC. The Nigerian National Petroleum Corporation (NNPC) says the nation lost about 750 million dollars to oil theft in 2019.
FX: CBN sells $10bn to defend Naira in fourth quarter of 2019. The apex bank in the country has said it sold the total sum of US$9.98 billion to authorised currencies dealers in the fourth quarter of 2019.
Slack revenues: FG records N1.14 trillion deficits in Q4 2019. On the back of dwindling revenues, the Central Bank of Nigeria has revealed in its economic report that Federal Government’s total expenditure was more than total receipts by about N1.4 trillion in the fourth quarter (Q4) of 2019.
CBN launch 5-Year Contracts to boost FX inflow as average T-Bill yields drop. The Central Bank of Nigeria has introduced forty seven new monthly future contracts to boost foreign exchange inflows.