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THE SENATE HAS DISCLOSED THAT NO FEWER THAN 60 FEDERAL GOVERNMENT AGENCIES FAILED TO REMIT OVER N3 TRILLION GENERATED REVENUE INTO THE FEDERATION ACCOUNT FROM 2014 TO 2020. THIS IS JUST AS THE MINISTER OF FINANCE, BUDGET AND NATIONAL PLANNING, ZAINAB AHMED, SAYS SOME OF THE AFFECTED PARASTATALS HAVE STARTED CREDITING GOVERNMENT COFFERS WITH THE […]

THE FEDERAL YESTERDAY INDICATED THAT IT IS CONSIDERING EXTENDING THE CURRENT EQUALISATION SCHEME IN THE PETROL SUPPLY SYSTEM IN THE COUNTRY TO THE MOVEMENT OF GAS ACROSS THE COUNTRY TO MAKE THE PRODUCT MORE AVAILABLE AND ACCESSIBLE TO NIGERIANS. SPEAKING DURING AN INTERACTIVE SESSION WITH ENERGY CORRESPONDENTS IN ABUJA, THE EXECUTIVE SECRETARY, PETROLEUM EQUALISATION FUND […]

IN THE LAST YEAR, AT LEAST OVER 400 MANUFACTURING FIRMS WERE FORCED TO CLOSE PRODUCTION, ACCORDING TO THE MANUFACTURERS ASSOCIATION OF NIGERIA (MAN). THE DIRECTOR-GENERAL, MAN, SEGUN AJAYI-KADIR DISCLOSED THIS OVER THE WEEKEND AT MAN’S 50TH-ANNIVERSARY CAKE-CUTTING EVENT. ALTHOUGH HE SAID SOME OF THE MANUFACTURERS HAVE RESUMED PRODUCTION, THE CONTINUED SCARCITY OF FOREIGN EXCHANGE (FX) […]

  NIGERIA’S NAIRA REMAINED UNCHANGED AGAINST THE U.S. DOLLAR AT THE UNOFFICIAL MARKET AND OFFICIAL MARKETS ON MONDAY. NAIRA AGAIN CLOSED AT N485 AT THE BLACK MARKET, THE SAME RATE IT HAS CLOSED FOR FIVE DAYS. SIMILARLY AT THE INVESTORS AND EXPORTERS WINDOW THE NAIRA ALSO CLOSED AT N410 AT THE SAME RATE IT CLOSED […]

THE DATA POSTED BY ABOKIFX SHOWED THAT THE NAIRA CLOSED AT N485.00 AT THE BLACK MARKET, THIS REPRESENTS A N1 APPRECIATION FROM N486, THE RATE IT EXCHANGED ON WEDNESDAY. HOWEVER, AT THE INVESTORS AND EXPORTER WINDOW, THE OFFICIAL EXCHANGED MARKET NAIRA REMAINED UNCHANGED FROM WEDNESDAY. ACCORDING TO FMDQ SECURITY EXCHANGE DATA, NAIRA CLOSED AT N410.00 […]

THE NIGERIA EXTRACTIVE INDUSTRIES TRANSPARENCY INITIATIVE SAID THE EXACT VOLUME OF CRUDE OIL PRODUCED IN NIGERIA, ESPECIALLY AT THE DEEP OFFSHORE FIELDS, IS NOT KNOWN BY ANYONE. THE EXECUTIVE SECRETARY, NEITI, ORJI OGBONNAYA-ORJI,  SAID  THE EXACT AMOUNT OF CRUDE OIL PRODUCED IN NIGERIA HAD REMAINED UNKNOWN BECAUSE OF THE ABSENCE OF METERS AT WELLHEADS AND […]

THE NAIRA APPRECIATED BY N3 AGAINST THE US DOLLAR AT THE BLACK MARKET OF THE FOREIGN EXCHANGE (FOREX) MARKET ON MONDAY, TO CLOSE AT N482. THIS REPRESENTS A 0.62 PERCENT RECOVERY FROM N485 THE RATE IT HAS STOOD SINCE APRIL 1 ACCORDING TO DATA POSTED ON ABOKIFX. IT’S OVER A MONTH SINCE NAIRA CLOSED AT […]

NAIRA GAINED SLIGHTLY AGAINST THE U.S DOLLAR AT THE I&E WINDOW OF THE FOREIGN EXCHANGE MARKET ON TUESDAY, DATA POSTED ON THE FMDQ SECURITY EXCHANGE WHERE FOREX IS OFFICIALLY TRADED SHOWED. HOWEVER, THE DOMESTIC CURRENCY DEPRECIATED AT THE BLACK MARKET. NAIRA CLOSED AT N409.00 AT THE TRADING SESSION OF THE I&E WINDOW, THIS REPRESENTS N0.13 […]

  AFRICA’S LARGEST CEMENT PRODUCER DANGOTE CEMENT PLC HAS REMAINED A MAJOR CONTRIBUTOR TO THE ECONOMY WITH A TAX CHARGE OF N97 BILLION FOR THE FINANCIAL YEAR ENDED 31ST DECEMBER 2020, PROPOSING A DIVIDEND OF N16 PER SHARE. ACCORDING TO THE CEMENT GROUP’S AUDITED RESULTS RELEASED ON THE FLOOR OF THE NIGERIAN STOCK EXCHANGE (NSE), […]

INVESTORS IN THE NIGERIAN STOCK MARKET RECORDED A TOTAL LOSS OF N1.37TN IN FEBRUARY AS MARKET CAPITALISATION TUMBLED BELOW N21TN AMID PROFIT-TAKING. INVESTORS HAD GAINED OVER N1.13TN IN JANUARY AS THE MARKET CAPITALISATION CLOSED AT N22.19TN FROM N21.06TN AT THE START OF THE MONTH. THE NIGERIAN STOCK EXCHANGE ALL-SHARE INDEX CLOSED AT 39,799.89 BASIS POINTS […]


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