Oil Earnings Decline By 29% To N790bn – CBN   Crude oil revenue crashed by 29 per cent in the first quarter of 2022, according to statistics from the Central Bank of Nigeria. The CBN, in its latest economic and statistical report for the first quarter of...

Nigeria’s Diaspora Remittances Rise To $5.16bn In Q1, 2022 - CBN   Nigeria’s diaspora remittances continued its upward trend in the first quarter of the year, Q1’22, rising by 20.3 per cent, Year-on-Year, YoY, to $5.16 billion from $4.29 billion in the same period of last...

Amid Crisis, Aviation Sector’s GDP Declines By 61%   The foreign exchange and fuel crises that have plagued the aviation sector seem to have led to a decline in the sector’s contribution to the Gross Domestic Product by 61.47 per cent. The nominal GDP output of the...

Again, Emefiele Urges Nigerian Businessmen to Embrace eNaira, by Abbas Badmus    The Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele, has urged Nigerians to come on board the new digital offering, as it has the capacity to increase Nigeria’s Gross Domestic Product (GDP) by...

LCCI Calls for Fiscal and Monetary Policies to Combat Inflation   The Lagos Chamber of Commerce and Industry (LCCI) has called for a combination of fiscal and monetary policies to address Nigeria's inflation problems. President of the chamber, Dr Chinyere Almona, while reacting to the July 2022...

Oil Firms in N5.93tn Bank Debt, Amid Losses, Theft  - CBN Recent data from the Central Bank of Nigeria has revealed that the combined bank borrowing to oil firms operating in the downstream and upstream subsectors of the Nigerian oil and gas industry was N5.93tn...