Questionable Cargoes Boost Manufactured Goods Exports By N909bn Exports of locally manufactured goods went up as high as 839.44 per cent between second and third quarter of 2019, aided by what the National Bureau of Statistics classified as re-exported goods worth N909bn, which may have...

Mutual Funds To Hit N1.5trn 2020 – SEC   The Securities and Exchange Commission has said that Collective Investment Scheme in the nation’s capital market may hit over N1.5tn before the end of this year. The CIS, also known as mutual funds, is an arranged pool of...

Insurance Firms Pay N769bn Claims in 3 Years   The insurance sector paid claims totalling N769.26bn in three years, the National Insurance Commission said in a report. The commission revealed that the sector paid N186.4bn, N252.19bn and N330.63bn in 2017, 2018 and 2019, respectively. The acting Commissioner for...

Nigeria’s $58.4bn Oil Projects Face New Setback   The twin shocks of the coronavirus pandemic and an oil price war pose a new threat to big-ticket projects in Nigeria as international oil companies consider cutting capital spending this year. The plunge in crude oil prices looks set...

Reps Investigate FG’s Abandoned N3.4bn Solar Power Project The House of Representatives has set up an ad hoc committee to investigate the Off Grid Renewable Solar Energy Project of the Federal Government, codenamed Operation Light Up Rural Nigeria, valued at N3.4bn, which has been allegedly...

Foreign Capital Inflow To Telecoms Increases By $829.62m – NBS   Foreign capital investment into the telecoms industry rose by 725 per cent from 2018 to 2019. The latest capital importation report by the National Bureau of Statistics indicated that foreign capital investment in the sector grew...