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  Dangote’s 650,000 bpd putting continent’s refining capacity upscale   With Nigeria evidently out of the picture, the Organisation of the Petroleum Exporting Countries (OPEC) in its 2021 world oil outlook, has rated Africa’s refining outlook high, going into the post-pandemic era. The global oil producers’ group said the continent’s producing capacity had phenomenally improved. […]

  Revenue underperformances pose uncertainties to 2022 budget deficit financing   There are ominous uncertainties ahead for Nigeria and its proposed 2022 fiscal spending plan of N16.39 trillion, a figure that is 12.5 percent higher than its current 2021 budget, with revenue sources remaining short as a result of the federal government’s historical underperformance across […]

A new assessment by the World Health Organisation (WHO) shows that only 14.2 percent – or one in seven Covid-19 infections – are being detected in Africa. To reverse the trend and curb transmission, the WHO regional office for Africa announced a new initiative to enhance community screening for the virus in eight countries. The […]

  FG grappling with huge fiscal responsibilities Overleveraged on CBN’s Ways & Means N16.1trn credit to FG as of August 2021 IMF, World Bank, analysts raise concerns Inflation, interest, exchange rate challenges Threatens macro-economic stability   The federal government’s sustained recourse to its Ways and Means facility (WMF) with the Central Bank of Nigeria (CBN) […]

  N1trn to 269 real sector projects N103.02bn to 110 health sector projects   The Central Bank of Nigeria (CBN) has disbursed N134.57 billion to 38,140 beneficiaries under the Agribusiness/Small and Medium Enterprise Investment Scheme (AGSMEIS), and N343.21 billion for the Targeted Credit Facility (TCF), aimed at developing Micro Small and Medium Enterprises (MSMEs) across […]

  Ararume succeeds Buhari as board chairman of new firm, NNPC Ltd Kyari takes CEO role, an executive for profit making Investment analysts, oil industry watchers ready with IPO appetite   The construction of the road to an eventual initial public offering (IPO) for state-owned national oil company, Nigerian National Petroleum Corporation (NNPC), appears now […]

  Jury still out on apex bank over Naira stability Policy rates call in tandem with expectations FX rates now flow from CBN, not speculators Analysts say Nigerians, businesses face tough time near term   The broad expectations of economic experts from the CBN Monetary Policy Committee (MPC) was not far-fetched after all as the […]