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Reps grill FG officials over $125m World Bank Loan
The House of Representatives Committee on Public Accounts, on Thursday, grilled officials of the Federal Government over how a $125m loan obtained from the World Bank was spent.
The committee summoned signatories to the World…
Oil falls to $47 as fate of OPEC+ deal uncertain
The international oil benchmark, Brent crude, pared some of its recent gains on Thursday as what seemed to be shaping up as a smooth OPEC+ meeting has hit some turbulence with an airing of grievances.
Brent, against which…
Leadway Pensure outperforms it’s October 2020 RSA funds benchmarks
Leadway Pensure PFA Limited, Nigeria’s foremost pension funds administrator, has outperformed the benchmark funds under it’s Retirement Savings Account (RSA) for October 2020.
A statement on Friday from the company reported…
CBN: Nigeria to exit recession by end of 2020
The Central Bank of Nigeria (CBN) has issued a projection that Nigeria will exit its current and worst recession in 33 years by the end of this year.
The apex bank made the projection at the end of its two-day Monetary Policy…
Aviation sector contribution to GDP declines by 38.86%
The latest Gross Domestic Product report released by the National Bureau of Statistics has shown that air transport under the transportation and storage sector recorded a 38.86 per cent decline in the third quarter of 2020.…
IATA says airlines will lose $118.5bn in 2020
The International Air Transport Association on Tuesday predicted heavier losses for the aviation industry in 2020 and 2021.
In a report titled ‘Deep losses continue into 2021’, IATA predicted a net loss of $118.5bn for 2020,…
Just in:#EndSARS Protest: Senate recommends 1%VAT for affected states
The Senate on Tuesday, resolved that the Federal Government should cede one per cent VAT collection as compensation to states which suffered destruction as a consequence of the #EndSARS protests.
The Senate's resolution followed…
Finance minister: ‘Recession will not last beyond first quarter of 2021’
The Federal Government on Monday declared that the current COVID-19-induced recession will not last beyond the first quarter of the 2021, assuring that strategic measures were being put in place to reduce its impact to the barest…
Nigeria slides into second recession in five years
For the second time in five years, Nigeria has entered into recession as official figures published on Saturday show that the economy shrank again in the third quarter of this year.
This may not be unconnected with the economic…
COVID-19: Airlines need fresh $80bn to survive – IATA
Airlines need another $80 billion to survive, the head of the industry’s trade association told a French daily on Friday, as many countries tighten restrictions to confront another wave of coronavirus infections.
“For the coming…