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The Nigeria Exchange Limited closed on a positive note amidst sell-offs and buy-interests. The All Share Index closed at 52,838.45 points, to reflect a growth of 1.99% from the previous trading day and a Year-to-Date return of 23.70%. Meanwhile, the market capitalization declined by N556.92 billion.
A member of the House of Representatives, Shina Peller, has called on youth to focus more on entrepreneurship as one of the ways to revamp the Country’s Economy. Peller who lamented the state of the nation despite available huge human and material resources, urged youths to become a problem solver by creating job opportunities instead of seeking one.
National Bureau of Statistics, NBS, has said Nigerian paper mills have collapsed years after privatization. According to BNS, Nigeria imported paper and its allied products worth N296.696billion between July and December 2021. While paper valued at N188.137billion was imported in the third quarter of 2021, import in the last quarter of the year was estimated at N108.559billion.
The Central Bank of Nigeria, CBN has said the total net credit by the Nigerian banking sector to the government rose by N2.2trillion in the first quarter ended March 2022 to N16.32trillion. According to CBN, the net credit to the government rose from N14.12trillion as of the end of January 2022 to N14.72trillion as of the end of February 2022. It added that the figure showed that there was an […]
Nigerian electricity generating companies sent out a total of 86,243.1MWh of energy on Monday. According to the Transmission Company of Nigeria, this represents a 0.3% decline compared to 86,508.2MWh supplied the previous day. Similarly, energy generation declined by 0.3% to 87.58kMWh from 87.81kMWh recorded on Sunday.
Nigeria’s monthly debt service rose by $31.46m in one month to $101.29m in January. Figures obtained from the Central Bank of Nigeria revealed that the government spent $69.83m on debt service repayment in December. The data showed that the government spent $148.57m and $85.23m on debt service repayment in November and October 2021 respectively.
The House of Representatives has secured the cooperation of the Nigerian National Petroleum Corporation, NNPC to make available six million litres of JetA1 (aviation fuel) to Aviation fuel marketers chosen by the Airlines Operators of Nigeria, AON. The deal was struck on Monday at a meeting with AON representatives at the National Assembly in Abuja.
Reports say Nigeria was unable to produce 22.658 million barrels of crude oil valued at N1.22trillion in the first quarter of 2022. Figures obtained from OPEC showed that the crude oil production quota approved for Nigeria in January this year was 1.683 million barrels per day. An analysis of data contained in various OPEC reports released in different months this year, showed that Nigeria failed to meet its oil production […]
A total of 1,775 workers withdrew N3.09bn from their Retirement Savings Accounts. According to PenCom 766 active contributors withdrew N1.42bn in the third quarter of 2021, 988 contributors withdrew N1.67bn in the fourth quarter of 2021.
