May 27, 2020

CBN says the Interest on SME loans hit nine per cent

The Interest rates on loans to the Small and Medium Enterprises to cushion the effects of the coronavirus on their operations introduced by the Central Bank of Nigeria will rise to nine per cent from five per cent in March 2021. The CBN disclosed this in its guidelines for the implementation of the N50bn Targeted […]

May 26, 2020

Experts persuade the FG to scale stimulus package for economic revamp

To lighten the effect of COVID-19, financial experts have advised the Federal Government to go beyond the 3.83 per cent aggregate stimulus response for Nigeria economy. They urged authorities to increase support for the Small and Medium Enterprises (SMEs) that constitute over 70 per cent of the economy to keep them afloat. The experts made […]

May 25, 2020

Nigeria’s non- oil sector weakens as GDP expands by 1.87% in Q1 2020

During the first quarter of 2020, Nigeria’s Gross Domestic Product (GDP) grew by 1.87%(year-on-year) in real terms. This performance was recorded against the backdrop of significant global disruptions resulting from the COVID-19 public health crisis, a sharp fall in oil prices and restricted international trade. The performance recorded in Q1 2020 represents a drop of […]

May 25, 2020

NAFDAC offers 80% tariff reduction to register small businesses as a result of the pandemic

The National Agency for Food and Drug Administration and Control, NAFDAC, the weekend rolled out palliatives for the Micro and Small businesses including 80 percent tariff reduction for registration as part of compliance with the Executive Order on the Ease of Doing Business as well as a proactive response to the challenges of COVID-19 pandemic. […]

May 25, 2020

Poultry farmers cry out as closure of hotels threaten their businesses

Outcries have risen from farmers in the poultry and fishery industries as they lament over the continued closure of hotels, drinking joints and other entertainment spots where their products are sold. They say the situation has taken a toll on their business. They are calling on the Federal Government to revive the Growth Enhancement Support […]

May 22, 2020

Nigeria’s Helium Health raises $10M Series A for Africa expansion

A promising Nigerian startup Helium Health sits in a good position during a difficult period, according to its co-founder. The Lagos based healthtech venture is in the black, has batted away acquisition offers, and just raised a $10 million Series A round, CEO Adegoke Olubusi told TechCrunch. The startup offers a product suite that digitizes […]

May 22, 2020

Contractors continue demonstration over more than N17bn owed by Ministry of Agric

Disgruntled contractors owed over N17bn by the Federal Ministry of Agriculture and Rural Development are mobilising to stop the FMARD’s minister from gaining entry into his office again on Friday (today). About 50 members of the Concerned Unpaid 2018 Contractors of the FMARD had picketed the ministry’s headquarters in Abuja on Wednesday, blocking the major […]

May 21, 2020

Possible reduction in fuel pump price by June, as operators explain why NNPC cut depot price

Industry operators said on Wednesday, that the Nigerian National Petroleum Corporation (NNPC) took the latest decision of marking down the ex-depot price of petrol in a bid to keep it competitive after the state-owned firm lost the monopoly of fuel importation and private oil firms were handed licences to begin to bring in imports.  The […]

May 21, 2020

Market index undergoes rising profile, up by 1.03 per cent

The Nigerian Stock Exchange equity sector has recorded price gains which have continued to outweigh losses, as more blue-chip stocks appreciated at price, causing the All-Share Index (ASI) to rise further by 1.03 per cent. Precisely, at the close of transactions yesterday, ASI increased by 249.36 absolute points, a gain of 1.03 per cent to […]

May 20, 2020

Maritime: Call on CBN to give logistics sector priority – Shippers’ Council

The Executive Secretary of the Nigerian Shippers Council, NSC, Hassan Bello has called on the Central Bank of Nigeria, CBN to give priority to the maritime and logistic sectors as part of measures to boost the non-oil sector of the nation’s economy. During a meeting with the press yesterday in Lagos Bello made a call […]

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