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Daily Archives: June 16, 2020

COVID-19: AfDB forecast $88.3 billion drop in Africa’s GDP

COVID-19: AfDB forecast $88.3 billion drop in Africa’s GDP

• Deployed €1.3B, $49.7M to 11 African countries, ECOWAS • $10B Response Facility to tackle economic downturn, job losses The African Development Bank (AfDB) has projected that the ongoing Coronavirus (COVID-19) pandemic ravaging economies globally could cause Africa’s Gross Domestic ...

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NSE reopens bearish as investors’ lose N119 billion amid profit-taking

NSE reopens bearish as investors’ lose N119 billion amid profit-taking

The Nigerian Stock Exchange (NSE), resumed trading on a downward note, Monday, occasioned by profit-taking in bellwether stocks, as investors wealth dipped N119 billion. Yesterday, the All Share Index (ASI) shed 228.35 points or 0.91 per cent to 24,954.32 points. ...

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Nigeria needs to spend 18% GDP on infrastructure – IMF

Nigeria, others face $44 billion financing gaps despite huge loans

The International Monetary Fund has estimated additional spending of 18 percentage points of Gross Domestic Product by 2030 for Nigeria to achieve Sustainable Development Goals. It stated this in its report on, “Technical assistance report––additional spending toward Sustainable Development Goals,” ...

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Governors’ forum toothless bulldog, says Wike

Governors’ forum toothless bulldog, says Wike

•Describes Obaseki’s disqualification as height of impunity •Oshiomhole, others meet with Gambari over Edo crisis Rivers State Governor Nyesom Ezenwo Wike yesterday lambasted the Nigeria Governors’ Forum (NGF), describing it as a toothless bulldog that had “lost focus on its ...

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Late own goal sees Sevilla stutter in Champions League chase

Late own goal sees Sevilla stutter in Champions League chase

Sevilla suffered a setback in their bid to qualify for next season’s Champions League group stage as a late own goal by Diego Carlos allowed visiting Levante to grab a 1-1 draw on Monday. Julen Lopetegui’s side, who sit third ...

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Again, power minister sacks NBET boss, names replacement

Again, power minister sacks NBET boss, names replacement

The Federal Government has again sacked Marilyn Amobi from office as the Managing Director of the Nigerian Bulk Electricity Trading Plc. Amobi, who was replaced by the company’s General Counsel and Secretary, Nnaemeka Eweluka, was in December 2019 removed from ...

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Stakeholders laud NNPC’s transparency, N1.01tr profits from NAPIMS

Stakeholders laud NNPC’s transparency, N1.01tr profits from NAPIMS

• Insist on overhaul amid N154 billion losses in refineries In its first-ever audited report, the Nigerian National Petroleum Corporation (NNPC), revealed that it posted over N1.01 trillion profit from its venture marketing subsidiary, National Petroleum Investment Management Services (NAPIMS), ...

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