It’s official! Lowest disinflation in 4 months keeps CBN MPC alert

Charles AbuedeJuly 19, 2021

It’s official! Lowest disinflation in 4 months keeps CBN MPC alert

Weak consumer demand keeps inflation at 17.75% Analysts say trend will persist to help curb food supply disruptions around the economy Disinflation to influence MPC decision to continue holding policy rate‭, ‬other parameters   As if yielding to the expectations of a large majority, the consumer price index, which measures the rate of inflation in […]

Afreximbank outlook positive, says Fitch, GCR, as Moody’s affirms it stable

Ben EguzozieJuly 18, 2021

Afreximbank outlook positive, says Fitch, GCR, as Moody’s affirms it stable

African Export-Import Bank (Afreximbank) has received a set of strong credit rating affirmations and “positive” outlooks from three credit ratings agencies: Moody’s, Fitch Ratings, and GCR Ratings, underlining the bank’s resilient financial position and performance. The ratings further reinforce the bank’s access to capital at a competitive cost, ensuring the continued success of key strategic […]

NADDC unveils solar-powered EV charging station at UNILAG

July 14, 2021

NADDC unveils solar-powered EV charging station at UNILAG

BY MIKE OCHONMA, Motoring Editor Nigeria’s National Automotive Design and Development Council (NADDC) made another history this week Tuesday following the unveiling of the first solar-powered electric vehicle charging station at the University of Lagos in the southwestern region. This is coming barely three months after the NADDC, a parastatal under the federal ministry of […]

Nigeria’s N15trn capital base InfraCo set to take off in Q3, says CBN governor

Charles AbuedeJuly 14, 2021

Nigeria’s N15trn capital base InfraCo set to take off in Q3, says CBN governor

Nigeria’s Infrastructure Corporation (InfraCorp), the dedicated N15 trillion capital base privately-managed infrastructure and industrial vehicle designed to harness opportunities for Nigeria’s infrastructure development by originating, structuring, executing and managing end-to-end bankable projects in that space, is set to commence in the third quarter of 2021. Godwin Emefiele, the CBN governor made this announcement at a […]

Nigeria improves solid minerals revenue by 13.02% in 2019, NEITI reports

Zainab IwayemiJuly 14, 2021

A new report by the Nigeria Extractive Industries Transparency Initiative (NEITI) has shown that Nigeria earned a total of N79.9 billion from the solid minerals sector in 2019. The report, which was presented to the media and civil society organisations by Dieter Bassi, director, technical, NEITI, in Lagos further shows that revenue was 13.02 percent […]

Nigeria’s VP blames piracy, insecurity for $26bn loss in maritime sector

Onome AmugeJuly 14, 2021

Nigeria’s VP blames piracy, insecurity for $26bn loss in maritime sector

Nigeria loses an estimated $26.3 billion annually in the maritime industry to piracy, sea robbery, among other forms of maritime crimes. This has, to an extent, escalated risks for maritime workers and led to a rise in insurance premiums, making maritime trade an unattractive proposition for Nigerians.   Yemi Osinbajo, Nigeria’s vice president, made the […]

Commonwealth countries lose $345bn trade in 2020 pandemic, says report

Charles AbuedeJuly 14, 2021

Commonwealth countries lose $345bn trade in 2020 pandemic, says report

Countries under the Commonwealth are estimated to have lost up to $345 billion worth of trade in 2020 as a result of the coronavirus pandemic, including $60 billion  in intra-Commonwealth trade, the Commonwealth Trade Review has stated in a new report seen by businessamlive.com The analytical report on the impact of the pandemic on the […]

NGX closes mildly negative from mixed trading with market cap at N19.72trn

Charles AbuedeJuly 14, 2021

NGX closes mildly negative from mixed trading with market cap at N19.72trn

The Nigerian equities market closed mildly negative on Tuesday after recording a bearish outing in the previous trading session, leaving the benchmark index down by 0.002 percent on 37,857.24 points while market capitalisation and its year to date loss remain unchanged at N19.72 trillion and -6.0 percent, respectively. Just as was recorded at the opening […]