Friday, June 18, 2021



Nigeria’s auto industry attracted over $1bn investments — Jelani Aliyu

The Director-General of the National Automotive Design and Development Council, NADDC, Jelani Aliyu, has disclosed that Nigeria’s automotive industry attracted over one billion dollars in investments since 2019.

Nigeria’s inflation hits 17.93 per cent – NBS

The National Bureau of Statistics, NBS, Tuesday said that the inflation rate in the month of May 2021 is now 17.93 per cent.

Buhari tasks NLNG on timely completion of Train 7

President Muhammadu Buhari on Tuesday charged that the Nigeria Liquefied Natural Gas, NLNG, Train 7 be delivered on schedule so that the Train 8 project could begin.

AfDB launches $463.9m ‘Kangaroo’ Social Bond

The African Development Bank, AfDB, has initiated a 600-million-Australian-dollar, 463.9-million-dollar, 5.5-year Kangaroo bond, marking its return to the Australian dollar bond market.

Nigerian stock market rebounds by N102bn on bargain hunting

The bulls returned on the Nigerian stock market on Tuesday with investors’ net worth appreciating by N102 billion on bargain hunting.

OPEC countries lost $1trn to oil price plunge in two years, says Barkindo

The Secretary-General, Organisation of Petroleum Exporting Countries, OPEC, Dr Mohammad Barkindo, has disclosed that OPEC member countries lost about $1 trillion USD to oil price plunge in 2015 and 2016.

Dangote refinery to help Nigeria save $3bn from petroleum imports annually – Emefiele

The Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele, has said that the country will save about $3bn from petroleum products imports annually when Dangote Refinery is fully operational.

Dangote fertiliser plant ready, products to hit Nigerian market Monday – Official

Dangote Industries Limited says its three million metric tonnes granulated urea fertilizer plant is now completed and its products will flood the Nigerian market from Monday.

CBN to empower cotton farmers for cultivation of 80,000 hectares in 2021 – Emefiele

The Governor of the Central Bank of Nigerian, CBN, Godwin Emefiele, says the bank aims at empowering the cultivation of 80, 000 hectares of cotton in 2021.

TAJBank opens 3 new branches in Abuja

TAJBank, Nigeria’s leading non-interest bank has opened three new branches at Wuse, Garki and Gudu Markets in Abuja.

CBN committed to supporting farmers – Emefiele

The Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele, says the apex bank will support smallholder farmers to boost food production.

No plans to increase price of bread by 30% — PBAN

The National Leader, Progressive Bakers Association of Nigeria, PBAN,Prince Jacob Adejorin, says his group is not contemplating a 30 per cent increase in the prices of bread, biscuits and other items.

SEC directs all investment platforms to register or cease operations by June 30

The Securities and Exchange Commission, SEC, has directed all existing investment crowdfunding portals/digital commodities investment platforms to register with the commission or cease operations by June 30.

LCCI backs NNPC’s move to acquire stake in Dangote refinery

The Lagos Chamber of Commerce and Industry, LCCI, has backed the proposal by the Nigerian National Petroleum Corporation, NNPC, to acquire 20 per cent stake in the Dangote refinery.

Airbus market to recover from pre-COVID levels by 2025

European planemaker Airbus on Thursday said it continued to expect the commercial aircraft market to recover to pre-COVID-19 levels between 2023 and 2025, led by the single-aisle segment.

Nigeria will soon create its own digital currency — CBN

Following the ban on cryptocurrency transactions in Nigeria, the Central Bank of Nigeria, CBN, has disclosed plans for the country to create its own digital currency.

Africa needs fiscal stimulus – Okonjo-Iweala

The Director-General of the World Trade Organisation, WTO, Dr Ngozi Okonjo-Iweala, said the African continent needed more fiscal stimulus to engender economic growth and recovery.

Edo chamber of commerce faults plans to ‘name, shame’ tax defaulters

The Benin Chamber of Commerce, Industry, Mines and Agriculture, BENCCIMA, has kicked against the plan by the Edo Internal Revenue Service, EIRS, to ”name and shame” defaulting tax payers in the state.

Lagos govt recovers N1.2bn excess bank charges

The Lagos State Government on Thursday said that it recovered a total of N1.2 billion in excess of bank charges over a period of six years.

Plateau, Kano, Abia residents paid highest for petrol in April – NBS

The National Bureau of Statistics, NBS, says residents of Plateau, Kano and Abia states paid the highest amount for Premium Motor Spirit, PMS, popularly called petrol in April.

Post COVID-19: IMF to inject $33bn into Nigeria, other African countries

Managing Director of the International Monetary Fund, IMF, Kristalina Georgieva, has assured African leaders of 33 billion dollars from the expected Special Drawing Rights, SDR, of 650 billion dollars.

CBN targets 1million hectares for rice cultivation in 2021 – Emefiele

The Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele, says the apex bank plans the cultivation of one million hectares of rice in the 2021 farming seasons, to boost food security.

JUST IN: NBS says Nigeria’s inflation rate drops to 18.12%

Nigeria’s rate of inflation dropped to 18.12 percent in April 2021, the National Bureau of Statistics, NBS, said on Monday

After renovation, National Theatre will offer 16,000 jobs – GM

More than 16,000 jobs would be created during and after the ongoing renovation of the National Theatre, Iganmu, Lagos, Prof. Sunday Ododo, General Manager of the 44-year-old complex, said on Thursday in Lagos.

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