FG takes $1.95bn World Bank loans, ignores debt concerns
Nigeria secured a total of $1.95 billion in loans from the World Bank in the first four months of President Bola Tinubu’s administration amid concerns over the country’s rising debt profile. The loans are for education ($700 million), power ($750 million), and women empowerment ($500 million), according to BusinessDay’s findings. For many Nigerians, long years […]
Oil prices climb to $95 per barrel
Oil prices rose by more than $1 a barrel on Wednesday after fuel queues that resurfaced in Lagos and its environs on Tuesday reduced yesterday. Brent crude futures rose to $95 a barrel as of 5:27PM on Wednesday. Long queues at filling stations resurfaced in Lagos and its environs on Tuesday, heralding fears of a […]
Stock market transactions soar to N2.42tr
Total transactions at the Nigerian equities market have risen to N2.42 trillion on the back of intensive bargain-hunting for Nigerian equities. A report by the Nigerian Exchange (NGX) obtained yesterday indicated that the equities market witnessed additional transactions worth N530 billion to hit N2.42 trillion in the first eight months of this year. The trading report for […]
Rising inflation pushes manufacturers’ unsold goods up 45.4% to N272bn
Inventory of unsold finished products in the manufacturing sector shot up significantly by 45.4 percent in the first half of 2023 (H1’23) to N271.96 billion from N187.08 billion in the corresponding period of 2022 (H1’22) on account of escalating inflationary pressures, even as 3,567 jobs were lost during the period. The Manufacturers Association of Nigeria […]
FG must address hike in cooking gas price —NALPGAM
National President of the Nigerian Association of Liquefied Petroleum Gas Marketers, NALPGAM, Mr. Abideen Olatunbosun, yesterday, expressed concern over the rising price of gas, adding that if the upsurge is not addressed, gas might become a commodity only affordable to the affluent. The association, however, urged the Federal Government to ensure stability of the price […]