Zainab Ahmed, N24.9 trillion debt, FG to borrow N1.7 trillion to finance 2020 budget – Finance Minister , VAT Increment: Afrinvest exposes sharing formula of N479.7b expected revenue , Nigeria’s VAT Increase: Penny-Wise, Pound Foolish, Nigeria spends N1.11 trillion to service debt in half year 2019 , Nigeria needs $100 billion annually to fix infrastructural deficit – Finance Minister , Oil: Nigeria makes N5.4 trillion in 1 year 

Ahmed explains why FG needs fresh $3 billion debt from World Bank 

Zainab Ahmed has disclosed that the Federal Government requested a fresh $3 billion loan from the World Bank to reform the power sector. 
Alex Okoh

How Nigeria can finance its budget deficit without loans – BPE boss

The DG of the BPE, Alex Okoh has urged the government to stop financing budget deficit every year with borrowings from foreign and local loans.
Konga now offering merchants loan at interest rates of 2.08% 

Konga now offering merchants loan at 2.08% interest rates

Nnamdi Ekeh has disclosed that the e-Commerce company has taken an unusual path by offering its merchants loans and credit facility.
Oil revenue, Nigeria

Nigeria generates over N1.2 trillion oil revenue in 3 months, up by 44.1%

The latest Economic Report released by CBN for August 2019 showed that Nigeria generated over N1.2 trillion in oil revenue between June and August 2019.
Reactions trail Onitsha fire as extent of damages become clear 

Reactions trail Onitsha fire as extent of damages become clear 

On Wednesday, fire gutted parts of Upper Iweka and Ochanja Market in Onitsha, after a tanker loaded with petrol fell and exploded.
LCCI, CBN, Cashless policy, World Bank’s $2.5bn loan will hurt Nigeria’s economy - LCCI , LCCI to produce data on Nigeria’s economy  

Jobs have been lost and prices have skyrocketed – LCCI’s DG speaks against border...

The Lagos Chamber of Commerce & Industry (LCCI) said the closure of Nigeria's borders is causing more damage than good.
Illicit financial flows: Nigeria lost $157.5 billion between 2003 and 2012 - Buhari , President Buhari says World Bank, IMF data are not reliable

Buhari approves N10 billion for the upgrade of Enugu Airport 

President Muhammadu Buhari has announced the approval of N10 billion naira for the reconstruction of Akanu Ibiam International Airport, Enugu. 
IMF discloses immediate priority 

Nigeria will enjoy foreign investments before December, IMF predicts 

The IMF has predicted better times for Nigeria, stressing that financial conditions in Nigeria favoured more foreign investments. 
Dangote refinery

Dangote Refinery affirms commitment to youth development

Dangote Petroleum Refinery and Petrochemicals Company organised a skill acquisition programme for the youths in Ibeju-Lekki.
4 Nigerians out of 10 Africans make Jack Ma's $1m Netpreneur Prize 

4 Nigerians out of 10 Africans make Jack Ma’s $1m Netpreneur Prize 

4 Nigerians out of 10 Africans have been shortlisted for the Africa Netpreneur Prize Initiative founded by Chinese billionaire, Jack Ma.  
NEC Inauguration: Buhari tells Governors "no more bail-outs", Bailout Fund: FG begins deduction of N614 billion from states’ allocation in 2 weeks , Ekiti, Enugu, Bayelsa, 12 others attract no investment in 1H , States’ debt stock

States’ debt stock hits N5.27 trillion, as Imo, Rivers borrowed the biggest 

The debt stock of states in Nigeria rose to N5.27 trillion in June 2019. This is reflected in the report released by the DMO for the Q2 2019. 
IMF, tax, rate, Buhari’s Budget of Sustaining Growth & Job Creation (Full text) 

IMF: Increase tax rate to manage fiscal crisis?

Nigeria’s tax revenue to GDP ratio remains one of the smallest in the world which implies there exists a strong revenue potential from taxes.
Nigerians react as Innoson set to change logo after losing design contest to UI student 

Innoson calls ‘student’ graphic designer for pitch meeting

It seems Innoson Vehicles is set to adopt the logo designed by a student of the University of Ibadan (UI), Osuolale Farouq.
revenue, FSDH, Buhari to release N600 billion for capital expenditure in 3 months, Nigeria @ 59: President Muhammadu Buhari’s speech, Buhari’s Budget of Sustaining Growth & Job Creation (Full text) , See what FSDH is saying about the 2020 budget and FG’s revenue drive 

See what FSDH is saying about the 2020 budget and FG’s revenue drive 

Analysts at FSDH Merchant Bank Limited believe that the Federal Government’s revenue targets in 2019 are unsustainable.
FUGAZ Banks, loans, loan

GTBank, Access, Zenith, UBA, FBN loans rise to N9.28 trillion in six months 

GTBank, Access Bank, Zenith Bank, United Bank of Africa and First Bank (FUGAZ) gave N9.34 trillion loans to their customers in H1 2019.
IOCs, Nigeria, Timipre Sylva, crude oil

Nigeria gets real with $62 billion demand from IOCs 

Timipre Sylva stated yesterday that the government knows that the full amount expected from the IOCs might never be recovered.
Young Professionals Programme, AFDB

AfDB to hire professionals through 2019 YPP

AfDB has launched the 2019 edition of its YPP to attract highly qualified and motivated professionals across member countries.
John Asein, creative industry ,

Nigeria collaborates with the United States to push creative industry 

It seems to be the creative industry’s season as Nigeria is set to collaborate with the United States to boost the creative sector.
Netflix inks another Nollywood deal 

Netflix addresses streaming war between Apple and Disney 

Netflix has addressed the brewing competition in the streaming market space, as the launch of Apple+ and Disney+ are fast approaching. 
NERC, power, distribution, electricity, companies, Recapitalisation of Discos

Discos to invest N935 billion in 5 years amidst recapitalisation calls

Discos in the power sector have mapped out plans to invest N935bn in their networks within five years as calls for their recapitalisation heightens.
JACK-RICH TEIN JR BELEMA OIL

Belema Oil partners MAN Energy Solutions on power generation

Belema Oil Producing Limited is set to partner with MAN Energy Solutions, through, Combustion Associates Inc. on a power generation project.
IGI cuts 60 jobs, as MD seeks turnaround measures 

IGI cuts 60 jobs, as MD seeks turnaround measures 

60 employees of IGI Plc have allegedly lost their jobs due to prolonged liquidity issues encountered by the company in recent times. 
FEC approves N314 billion for new projects 

FEC okays N5.4 billion for gas parks, airport security project 

The sum of N5.4 billion has been approved for the development of oil and gas parks and indoor shooting range for aviation security.
LDR: Growing real sector by fiat? Part 2

LDR: Growing real sector by fiat? Part 2

In order to minimize the undesirable effects of the current policy, some modifications listed below can be considered.
sound, C & I Leasing Plc, NSE launches factbook, Top 10 stockbroking firms

Access Bank, Global Spectrum, Zenith Bank lead most traded stocks on Wednesday

Wednesday’s trading session ended in negative territory as the All-Share Index closed at 26,472.20 basis points, down by 0.16%.
revenue, FSDH, Buhari to release N600 billion for capital expenditure in 3 months, Nigeria @ 59: President Muhammadu Buhari’s speech, Buhari’s Budget of Sustaining Growth & Job Creation (Full text) , See what FSDH is saying about the 2020 budget and FG’s revenue drive 

Buhari slashes ministers’ overseas trips, approves business class flight

President Buhari has slashed the number and duration of trips made abroad by ministers and other government officials and their special allowances.
Ponzi, SEC, SEC, FCCPC sign MoU to simplify merger process for quoted companies, Rights issue dominates quoted companies capital raise in 3 years 

Rights issue dominates quoted companies capital raise in 3 years 

Rights issue has dominated quoted companies' capital raise between 2016 and 2019. This is according to data obtained from the SEC.
Godwin Emefiele, CBN, Of rice and milk, CBN spends N231.2 billion to print banknotes in 6-year, up by 105% , CBN exempts federation accounts, microfinance banks, ministries, others from new Cashless Policy 

CBN spends N231.2 billion to print banknotes in 6-year, up by 105% 

The Central Bank of Nigeria (CBN) spent a cumulative sum of N231.2 billion to print banknotes in the last 6 years (2013 – 2018).
TCN ready to waive Discos' N270 billion debt, TCN want Discos to recapitalise, Discos investment in power sector, National Union of Electricity Employees, Gencos want Discos’ job as it seeks to sell electricity directly to customers , Nigeria, Canada to ink new $2.3b power deal 

Nigeria, Canada to ink new $2.3b power deal 

There is a new power deal in the works between Nigeria and TREDIC Star Core which could improve Nigeria's electricity generation.
FG moves to scrap hazard allowances earned by State Governors

FG moves to reduce allowances of all political office holders

In a bid to downsize Nigeria’s recurrent expenditure, the Federal Government is planning to scrap hazard allowances for state governors.