Poor Vaccination, Policy’ll Slow Economic Recovery In Nigeria – IMF   The International Monetary Fund says slow vaccine rollout and stark differences in policy space are the leading reasons why economic recovery in Nigeria and other sub-Saharan African countries will be the slowest in the world. The...

Nigeria’s Service Imports Surpass Exports, Records $33.7bn Deficit   Nigeria recorded trade in services deficit of $33.7bn in 2019, even as its merchandise exports fell by 14.1 per cent in the same year, according to the United Nations. The UN, in its UN Comtrade International Statistics Yearbook...

W/Bank Sees Crude Prices Rising Till June 2022, Fuelling Inflation   Energy prices soared in the third quarter of 2021 and are expected to remain elevated in 2022, adding to global inflationary pressures and potentially shifting economic growth to energy-exporting countries from energy-importing ones, the World...

Gencos Lose N1.66trn Over Non-payment For Unused Power   Power generation companies in Nigeria have said they suffered a loss of N1.66trn in seven years as a result of non-payment for deemed capacity. The Executive Secretary, Association of Power Generation Companies, the umbrella body for the Gencos,...

MultiChoice Nigeria Cleared To Appeal $4.4bn Tax Claim   A Nigerian tax tribunal has cleared MultiChoice Group Ltd., Africa’s biggest pay-TV provider, to appeal a disputed $4.4 billion tax bill in the country. The South African company’s local unit was allowed to proceed after paying a $19.4...

Insurance Firms To Pay N20bn #EndSARS Claims   Insurance companies will eventually pay about N20 billion in compensations for losses recorded during the October 2020 #EndSARS protest. Speaking with the News Agency of Nigeria (NAN) in Lagos on Wednesday, the Chairman of the Nigeria Insurance Association (NIA),...