Economy: Will the FG tax reforms support revenues in 2020?
Zainab Ahmed disclosed that the new tax reforms as contained in the Finance Bill would help FG achieve its 2020 revenue estimate of N8.16 trillion.
Now that President Buhari has signed the Finance Bill into law
Yesterday, President Muhammadu Buhari signed the Finance Bill into law, hoping it would support the implementation of the 2020 budget.
States receive N2.53 trillion allocation in 2019
State governors in Nigeria shared the sum of N2.53 trillion gross allocation in 2019 (January – November).
Tomatoes, pepper prices crash across major markets, as local rice continues to ease-off
The prices of several food items once again witnessed a significant drop. According to the latest Household Survey, prices of tomatoes and pepper crashed significantly, while the prices of local rice, yam and other items continue to ease off.
Analysis: BUA Cement’s concrete merger
Last week, Cement joined MTN, Dangote Cement, Nestle and Airtel as stocks with a market capitalization in excess of N1 trillion.
Nigeria can do better with Sovereign Wealth Fund
Nigeria earns 80% of her Foreign Exchange earnings from one commodity, crude oil, with a significant budget deficit of over 2 trillion.
Telecommunications: Broadband penetration set to grow
The NCC and a consortium of infrastructural companies disclosed they would raise N265 billion for the development of broadband infrastructures.
Banks borrow N19.64trillion from CBN in 2019
Commercial banks borrowed N19.64 trillion from the Central Bank of Nigeria in 2019, indicating a 73% increase from the N11.36 trillion borrowed in 2018.
Stay ahead of your competitors with these tips
You will only achieve success if you run your business on your own terms, and not fall prey to chasing after rivals in your industry.
Nigeria receives $17.5 billion diaspora remittances in 2019
Nigeria received $17.57 billion in direct diaspora remittances in 2019. According to data published by (@cenbank), remittances rose by 56.4% when it increased from $11.23 billion within the same period in 2018 to $17.57 billion in 2019.
Nigeria spends $1.31 billion to service external debt in 2019
Nigeria spent a whopping $1.31 billion to cover external debt obligations in 2019, as external debt service payment accumulated to $3.95 billion in the last 5 years (2015 - 2019). Data obtained from the (@cenbank) reveals
What Iran’s war with America means for Africa
On the 2nd day of the year, U.S President, Donald J. Trump launched a missile attack that killed Iranian General Qasem Soleimani.
Equities: A bullish run to start the year
Following a bearish run in 2019, with a negative return of 14.6%, the local bourse began the year on a positive note.
Analysis: FUGAZ are back and investors are lapping it up
It's just one full week of business at the Nigerian Stock Exchange and stocks are already 9.51% up, one of the best performers in the world today.
Nigeria’s fintech industry 2020: The growth frontier of the new decade
At a time when technology is disrupting the global financial services industry, Nigeria has not been left out of the change.
Insurance: Recapitalisation exercise sets consolidation in motion
Six insurance companies have notified NAICOM of their plans to merge as part of their efforts in meeting up with the regulator’s recapitalisation requirements.
Banks’ loan to private sector increases by N3.47 trillion in 2019
As the Central Bank of Nigeria (CBN) continues to compel Banks to boost their credit to the real sector of the economy, analysis of data published by the apex bank revealed that the loans increased by N3.46 trillion in 2019 (between January and November, 2019).
US vs Iran: Broad implications for Nigeria
Last week, the USA claimed responsibility for the assassination of a senior Iranian general, Qassem Soleimani, warning Iran not to retaliate.
Nigeria spends N1.08 trillion to import used cars and motorbikes in one year
Data obtained from the NBS show that Nigeria spent a whooping sum of N1.08 trillion to import used vehicles and motorcycles in one year.
Power: Liquidity crisis, same old story in 2020?
FG will bear a financial burden of N544.894 billion in 2020 being the cumulative shortfall in electricity tariffs of the 11 DisCos.
How billionaires performed on the NSE in 2019; who gained or lost?
In the Nigerian equity market, 2019 was not a very good one for many investors as the NSE All-Share Index ended the year with a 14.6% loss.
Much ado about CFA, ECO, ACFTA
West African nations previously colonized by France agreed with French President Emmanuel to ditch the CFA currency.
Power: FG signifies financial commitment to Siemens agreement
Nigeria and power giant, Siemens signed a power sector deal which would lead to the production of 25,000MW of electricity in the country by 2025.
Still on the FG’s $22 billion loan
FGN has reintroduced a request to the National Assembly to borrow up to $22.74 billion from the international markets.
International Breweries end 2019 as worst performing stock.
International Breweries has ended 2019 with the unenviable record as the worst-performing stock of the year.
SumoBank rebrands to SumoTrust, introduces bank account numbers
An online savings platform, SumoBank has rebranded as it metamorphosed to SumoTrust to continue the race of digital savings App in Nigeria.
The firm, launched its operation as a digital savings and investment platform, has grown from 0 to serving about 4000 customers.
Nigerian stock market post worst return in 3 decades
At 28.9% in the last 10 year, investors who held their money in the bourse for this long would have underperformed all fixed income securities.
Events that shaped FinTech industry in 2019
Though the year 2019 has come and gone, the financial service delivery it witnessed was a boom, as FinTech firms witnessed improved growth,
Insurance: NAICOM extends recapitalization deadline
In May 2019, NAICOM re-introduced the previously suspended recapitalization exercise albeit with more stringent capital requirements.
Nigerian stocks close 2019 with massive losses for the second year running.
The Nigerian Stock Exchange All-Share index ended 2019 with a year to date loss of 14.6%.