ASSETS & FINANCIALS

Over 2.2 million farmers are to receive about N12.3bn as agricultural subsidy from the Federal Government in coming weeks, it was gathered on Sunday. Presidency officials confirmed that the President, Major General Muhammadu Buhari (retd.), had already approved a N6.15bn …

The country’s external reserves lost $180m in two weeks, the latest figures obtained from the Central Bank of Nigeria showed on Sunday. According to the figures, the reserves, which stood at $33.28bn on July 1, dropped to $33.09bn as of …

The Nigerian stock market lost N24.49bn last week as 32 firms saw their share prices decline at the end of trading. The Nigerian Exchange Limited All-Share Index dipped by 0.12 per cent to close at 37,947.18 basis points on Friday …

Flourish Africa has announced the launch of a N1bn facility to fund and promote female-owned businesses in Africa. The female empowerment platform, founded by a Nigerian businesswoman and philanthropist, Mrs Folorunsho Alakija, was designed to help women achieve their full …

The Minister of Industry, Trade and Investment, Niyi Adebayo, has called on the World Trade Organization to exempt small-scale and artisanal fishers from the scope of its fisheries subsidies discipline. Adebayo expressed Nigeria’s readiness to negotiate on appropriate special and …

FG to spend 47% of its four-year revenue on debt servicing The Senate, yesterday, approved President Muhammadu Buhari’s request for ongoing external loans to the tune of $8,325,526,537 and €490,000,000 (Euros) under the 2018-2020 External Borrowing (Rolling) Plan. The approval …

• Debt servicing to revenue ratio jumped from 54.66% in 2019 to 72% in 2020 The Federal Government made a total of N3.25tn in 2020, according to a review of the budget performance of the 2020 Appropriation Act. The review …

The Federal Executive Council on Wednesday approved the award of a contract to Dangote Industries for the construction of five roads totaling 274.9 km at the cost of N309.9bn to be advanced to the company as tax credit. Minister of …

The newly established Guaranty Trust Holding Company Plc has appointed Mrs Miriam Olusanya as the managing director of Guaranty Trust Bank Limited. It also announced its new board of directors as well as changes to the board of its banking …

The N15tn Infrastructure Corporation of Nigeria will begin operations in the third quarter of this year, the Central Bank of Nigeria announced on Tuesday. CBN Governor, Godwin Emefiele, who announced this during an investors’ webinar organised by the Bureau of …

The Nigerian stock market dropped by N71bn on Monday as the companies on the premium board suffered losses amid profit-taking in Zenith Bank Plc and MTN Nigeria Communications Plc. At the end of trading on the floor of the NGX …

Nigeria received about $8.4bn investment announcements as at 4th March 2021, out of which $5.46bn were pledged by foreign investors. The remaining $2.08bn was promised by domestic investors, statistics obtained from the Nigerian Investments Promotion Commission showed. The sum pledged …

The House of Representatives on Thursday urged the Federal government to ‘convoke a special economic roundtable’ to proffer holistic and workable solutions to falling naira and rising inflation in Nigeria. The House also urged the Federal Ministry of Agriculture and …

The Rice Farmers Association of Nigeria in Bida on Wednesday agreed to partner with the Central Bank Nigeria to reduce the market price of rice. Coordinator, RIFAN and CBN special project in Niger State, Malam Idris Usman, made this known …

Members of the minority caucus in the House of Representatives, on Thursday, declined to participate in the consideration and adoption of the report by the Committee on Aids, Loans and Debt Management chaired by Ahmed Safana. The report was on …

• Buhari gets Senate’s approval for N2.3tr foreign loan request • Senate okays N982b supplementary budget, increases proposal by N86.9b • FG to fund N5.62tr deficit in 2022 budget with loans • Nigeria on debt precipice, spent N1.8tr on debt …

Stakeholders, including the Trade Union Congress of Nigeria, the Nigeria Labour Congress, have expressed concerns over the continued refusal of some states to pay the N30,000 minimum wage amid the rising cost of living in the country. The President, Major …

Nigeria faces a six-year delay in achieving Sustainable Development Goals, according to the International Monetary Fund. The Managing Director, IMF, Kristalina Georgieva, said this on Tuesday in a statement titled ‘UN high level political forum on sustainable-development’. She said as …

The Minister of Finance, Budget, and National Planning, Mrs Zainab Ahmed, has said the Nigerian economy is currently being driven by the non-oil sector. Ahmed said this when she led officials of her ministry to hold a meeting with the …

The African Continental Free Trade Agreement (AfCFTA) would not allow products without identification of origin for exportation. The Minister for Industry, Trade and Investment, Mr Niyi Adebayo, who stated this during a two-day tour to Delta State, assured that Nigeria …