FG Recorded N485.51bn Fiscal Deficit In January – CBN
The Federal Government recorded an N485.51bn fiscal deficit in January, statistics obtained from the Central Bank of Nigeria have shown. According to the monthly economic report for January released by the CBN on Friday, the low revenue performance in January was due to the decline in non-oil receipts following the lingering effects of the COVID-19 […]
18.17% Inflation Rate, Unhealthy For Nigerians, Economy —MAN
The Manufacturers Association of Nigeria (MAN) has described the recent 18.17 percent inflation figure released by the Nigeria Bureau of Statistics (NBS), as worrisome and very unhealthy for the well-being of Nigerians and the nation’s economy. While calling for proper management of the situation before getting out of hand, the Director-General of the association, Segun […]
States In Dread Mode As Revenues Plunges
Dread seems to be the mood in most government spheres across the 36 states of Nigeria as the certainties of the cash crunch induced by the COVID-19 pandemic continue to bite harder. Revenue is plunging as evident in the Internally Generated Revenue at State Level (Q4 and Full Year 2020) report just published by the […]
Dangote Stop The Export Of Cement To Meet Local Demand
The Dangote Cement Plc. has denied selling its products at higher rates in Nigeria than elsewhere, saying it has instead lost dollar earnings to meet local demand. The firm said the price of a bag of cement from its factories and plants in Obajana and Gboko is N2,450, and N2,510 at Ibese. Devakumar Edwin, the […]
‘Nigerian Women Are Capable,’ WIMBIZ Writes FG Over Women’s Exclusion From Varsities Governing Council
The Board of Trustees and Executive Council of Women in Management, Business & Public Service (WIMBIZ) have written to the Federal Government over the non-inclusion of women in the newly constituted Governing Councils of the University of Lagos (UNILAG), and four other Federal universities in the country. The other university includes the University of Ibadan […]
All-Share-Index Decline By 0.04 Percent Following Investors Profit-taking
Trading on the Nigerian Exchange Limited (NGX), on Monday closed the first trading session of the week on a negative note, as NSE-All-Share Index (ASI) declined by N81 billion or 0.40 percent. The decline follows the investors’ profit-taking on some recently appreciated stocks, such as Stanbic IBTC Holdings and 19 others. In summary, the All-Share […]
Bitcoin Crosses $60,000 Again
Bitcoin rose above $60,000 to approach record highs on the weekend, breaking out of a two-week tight range and propelled by talk of constrained new supplies against evidence of wider adoption. The world’s biggest and best-known cryptocurrency hit $61,222.22 on Saturday, its highest in nearly a month. It was slightly lower at $59,907 at 0500 […]
Lil Nas X ‘Satan Shoes’ to Be Recalled as Nike Agrees to Settle Lawsuit
Nike says the art collective which made “Satan Shoes” that contain a drop of human blood in the soles has agreed to issue a voluntary recall as part of a legal settlement. The controversial shoes were produced by the Brooklyn collective in collaboration with rapper Lil Nas X, who held the last pair so he […]
China Fines Alibaba Record $2.75bn for Anti-monopoly Violations
Chinese regulators have fined Alibaba Group Holding Ltd 18 billion yuan ($2.75 billion) for violating anti-monopoly rules and abusing its dominant market position, marking the highest ever antitrust fine to be imposed in the country. The penalty, equivalent to around 4% of Alibaba’s 2019 revenues, comes amid an unprecedented regulatory crackdown on home-grown technology conglomerates […]
World Bank To Help Nigeria Lift 100 Million Out Of Poverty
The President of the World Bank Group, Mr. David Malpass, on Wednesday said the multilateral institution is focused on supporting the federal government’s bid to lift 100 million Nigerians out of poverty. Malpass said during a media briefing at the ongoing virtual World Bank/International Monetary Fund (IMF) spring meetings in Washington DC that the World […]
