Global debt climbs to $233trn in Q3 despite strong economic growth

Global debt soared to over $230 trillion in Q3 2017, about $16 trillion higher than its end-2016 level, according to the Institute of International Finance (IIF) in its “Global Debt Monitor – January 2018” released Thursday. The IIF indicated that despite strong economic growth and declining debt to GDP ratios, the total debt increased by […]

Nigeria’s renewable energy mini-grid market has $10bn annual revenue opportunity – Branson

Richard Branson, billionaire business magnate

Richard Branson, billionaire business magnate, investor and founder of the Virgin Group, is bullish about Nigeria’s alternative energy sector, especially off-grid power solutions. In a blog post-December 28, 2017 Branson specifically indicated that off-grid power solutions in Nigeria could yield an estimated $9.2 billion revenue annually. Branson, quoting a report by the Rocky Mountain Institute, […]

Tax seen major constraint on SMEs growth in Nigeria

Nigeria’s current rules for taxation, which subject profit-making companies to multiple taxations in their first three years of commencement, are increasing the risk of failures of small and medium enterprises, according to Ani Chizoba, manager tax & regulatory services at Deloitte & Touche In an article “Tax policy on SMEs in Nigeria – How fair?” […]

Treasury bill supply slowdown may hurt Nigerian bank profits- Fitch

Fitch Ratings said Thursday that Nigerian banks may find it more difficult to sustain profitability given the decline in net treasury bill (T-bill) issuance of country’s 1Q18 issuance programme. The slowdown in T-bill issuance, according to the rating agency, marks a change of strategy as the government looks to increase its financing from external sources […]