FMBN Disburses N75.5bn For 3,541 Mortgages, Others   The Federal Mortgage Bank of Nigeria processed and disbursed a total of N75.5bn for 3,541 mortgages and 25,242 home renovation loans in two years. FMBN’s Managing Director, Ahmed Dangiwa, disclosed this recently in Abuja while assessing results of the...

Foreign Capital Inflows Into Telecoms Increase By $659.03m   The country’s desire to deepen broadband penetration nationwide is hinged on capital investment into the telecom sector. Foreign capital investment into the telecoms industry rose by $659.03m between 2016 and 2018, representing a 70.8 per cent increase in...

FIRS Denies Auditor-general’s Claims Over N210bn Illegal Deductions   The Federal Inland Revenue Service on Thursday denied claims made by the Office of the Auditor-General for the Federation that FIRS illegally deducted and failed to remit N210bn into the Federation Account. Speaking on the sidelines of the...

DisCos Lost N931bn In 4 Years – PwC   Electricity distribution companies in the country posted a total loss of N931bn from 2014 to 2017, PwC Nigeria has said. Partner and Chief Economist, PwC Nigeria, Dr Andrew Nevin, said the Discos had continued to report losses, adding...

NASS Makes History, Passes N10.59trn Budget For 2020   The Senate has made history with the passage of N10.59 trillion budget for the year 2020 in keeping with its major legislative agenda of returning the country’s budget cycle to a more predictable one as well as...

Manufacturing Sector’s GDP To Hit N49.6trn With 40,000Gwh Of Power Supply   If electricity supplied to industries increases to 40,000Gwh within the next seven years, the manufacturing sector’s contribution to the Gross Domestic Product (GDP) is projected to rise to N49.6 trillion with at least 46.59...