Forex Scarcity Cripples Local Airlines, Spike Airfares
The foreign exchange (FX) liquidity crisis is eating deeper into the daily operations of the local airlines, causing airlines’ capacity to dwindle and hitting up airfares.
The Economic Confidential, yesterday, learned that operators in the aviation sector have not...
In 11 Months, Foreign Stock Investors Withdrew N433.15bn – NSE
Foreign investors pulled out a total of N433.15bn from the nation’s stock market from January to November this year, compared to N481.96bn in the same period of 2019, a new report by the Nigerian Stock...
Fed Govt May Exceed N7.89trn 2021 Revenue Target As Oil Prices Soars
There are indications that the Federal Government may be on course to meet and perhaps, surpass the projected oil revenue target in the 2021 budget if the recent rise in the prices of...
Nigeria’s Forex Inflow Hits $21bn In Q3
The total amount of foreign exchange inflow into the economy in the third quarter of 2020 stood at $21.46 billion, according to data from the Central Bank of Nigeria (CBN).
The CBN, in its third quarter economic report said...
Local Airlines Hike Fares To 100%
One of the most expensive pricing regimes in local airfares may be upon the aviation industry, as ticket rates have more than doubled in a week.
The spike, which operators blamed on an exchange rate that hit N500 to $1...
CBN Battles Recession, Raises COVID-19 Facility To N300bn
Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, yesterday said the bank would raise its COVID-19-targeted facility from N150 billion to N300 billion in order to accommodate more Nigerians in a bid to cushion the impact...
