Nigeria, OPEC Peers To Lose $272bn Oil Revenue         Nigeria and other members of the Organisation of the Petroleum Exporting Countries will see their combined net oil export revenue fall this year to its lowest level since 2002, according to the United States Energy Information Administration. The...

Banks’ Borrowings From CBN Drops By 93%       Deposit Money Banks’ reliance on the loans from the Central Bank of Nigeria (CBN) fell sharply by 93 percent in August, driven by surge in idle cash (excess liquidity) in the interbank money market. Also reflecting the excess liquidity...

Fed Govt Signs N105bn Afam Power Sale Pact Today       The signing ceremony for the sale of Afam Power Plant for N105bn to the preferred bidder will be done by the Federal Government Thursday (today). It was gathered on Wednesday that the ceremony, which holds at the...

Rising Debt Servicing Cost Can Impede Growth – CBN       The Central Bank of Nigeria has expressed concern over the rising cost of debt service being incurred by the Federal Government. The CBN, in its half-year 2020 economic report, said the trajectory of Federal Government’s debt further...

Afreximbank, others inaugurate $1.5 bn facility to tackle African COVID-19 Impact  The African Export-Import Bank (Afreximbank) has inaugurated a 1.5 billion dollar collaborative COVID-19 Pandemic Response Facility (COPREFA) to support African economies with rapid financial assistance to reduce the impact of COVID-19. Afreximbank and its collaborators in Cairo,...

Reps Seek Indefinite Suspension Of Airports’ Concession         The House of Representatives has asked the Federal Government to suspend indefinitely the plan to concession airports until all issues have been addressed. The House Committee on Aviation, which criticised the Minister of Aviation, Hadi Sirika, for failing to...