NSIA Revenue Increases By 343% To N160bn       The Nigeria Sovereign Investment Authority, manager of Nigeria’s sovereign wealth fund, on Tuesday announced its audited results for 2020 financial year, reflecting a 343 per cent growth in income to N160bn. It said this was disclosed in its Audited...

Trade Deficit Increases To $2.51bn After Border Reopening         Nigeria’s exports declined while imports increased in January despite the opening of the land borders. Nigeria’s trade deficit rose from $1.69bn in December 2020 to $2.51bn as of the end of January 2021 despite the reopening of the...

Panel To Probe NPA's Suspended MD For Inauguration Today       The Federal Government may on Monday (today) inaugurate a panel to investigate Nigerian Ports Authority under suspended managing director, Hadiza Bala-Usman. Economic Confidential had earlier reported that President Muhammadu Buhari was probing the alleged non-remittance of N165.32bn...

Nigeria’s Capacity To Service Debt Very Weak - LCCI       The Director-General of the Lagos Chamber of Commerce and Industry, Dr Muda Yusuf, says Nigeria’s debt profile is unsustainable. Yusuf said this in an interview with Channels TV. The video of the interview was posted on the television...

Nigerian Insurers Settle N4bn #EndSARS Claims       The Nigerian Insurers Association has said insurance companies have so far paid N4bn claims from the estimated losses from #EndSARS protests in October last year. The Chairman, NIA, Mr Ganiyu Musa, disclosed this during a virtual press briefing in Lagos...

Lagos State Govt Spends N20bn On Rice Mill       The lagos State Commissioner for Agriculture, Ms Bisola Olusanya, has on Thursday said about N20 billion has been spent on Imota Rice Mill in Ikorodu, which is at 85 per cent completion level. She also said 250,000 jobs...