Oil Imports Gulped $1.32bn In 2020 - CBN       The quantity of foreign exchange used for oil imports in 2020 was $1.32bn, compared to $2.10bn in 2019, the latest data from the Central Bank of Nigeria have shown. The CBN’s data on sectoral utilisation for transactions valid...

Local Airlines Rebound With Traffic Surge       Despite the operational hiccups facing the sector, local airlines have recorded a marginal rebound in business, recording improved passenger patronage across networks. And in response to the uptake, some of the carriers are opening new routes and reactivating old ones...

‘Nigeria Exports To Indonesia Now $700m’       Director of the Indonesian Trade Promotion Centre, Hendro Jonathan, said Nigeria exported goods worth 700 million dollars to Indonesia last year. He explained that while Nigeria’s total export to the Asian country was $700 million, its import from Indonesia $300...

Customs Impound Explosives, Contrabands Worth N3.1bn       The Federal Operations Unit (FOU), Zone A of the Nigeria Customs Service (NCS), yesterday, said it has impounded 42 drums of explosives in the form of calcium carbide and other contraband worth N3.1billion smuggled into Nigeria from Benin Republic. The...

States’ Cash Cruch: CBN Kicks As Govs Beg FG To Postpone $2.1bn Support Repayment         State governors on Thursday at the monthly meeting of the National Economic Council appealed to the Federal Government to postpone the repayment of the $2.1bn budget support facility to states which...

19 States Lack Automated IGR Collection System – Fed Govt       Only 17 states out of the 36 states of the federation have fully automated their Internally Generated Revenue collection systems, the Federal Government said on Thursday. This implies that 19 states lack automated IGR collection systems. The...