The Debt Management Office (DMO) said the total public debt stock of Nigeria as of March was N49.95 trillion ($108.30 billion). DMO said in a statement on its official website on Sunday, that the debt stock comprises the external and domestic debts of the Federal Government, the 36 states and Federal Capital Territory. The country’s […]
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has signed memorandum of understanding (MoU) with the First Bank and Sterling Bank to develop and promote Micro Small and Medium Enterprises (MSMEs). In his remarks at First Bank event, Dr Olawale Fasanya, Director-General of SMEDAN identified funding as critical issue for MSMEs. Fasanya, therefore, […]
The Nigeria Communications Commission (NCC) says it has reduced the number of identified areas of clusters without access to telecommunication services by 53 per cent in 2022. The Chief Executive Officer of the Nigerian Communication Commission (NCC), Prof. Umar Garba Danbatta, announced this at a recent telecoms industry stakeholders forum in Yenagoa, Bayelsa state. Danbatta […]
Nigeria’s sovereign dollar-denominated bonds rose sharply as overseas investors welcomed the suspension late last week of Central Bank Governor, Godwin Emefiele. Emefiele oversaw multiple exchange rates that unsuccessfully sought to keep the naira strong. The price of the West African oil producer’s eurobonds rose on Monday as much as 2.6 cents in the dollar. This […]
Nigeria’s telecommunications and Information Services sector contributed about N2.51 trillion to the nation’s gross domestic product (GDP), representing 14.13 per cent, in the first quarter of 2023. Reuben Muoka, Director of Public Affairs at Nigerian Communications Commission (NCC) announced this in a statement emailed to The NewsZenith at the weekend. Figures released by National Bureau […]
Egypt’s annual headline inflation rose to 33.7 per cent in May, up from 15.3 per cent in the same period of 2022, the country’s official statistics agency reported on Saturday. Urban inflation increased by 2.7 per cent in May, month-on-month. This is among the highest records, said a report by the Central Agency for Public […]
President Bola Ahmed Tinubu has suspended the Central Bank Governor, Mr Godwin Emefiele, from office with immediate effect. The suspension is contained in signed by Willie Bassey, Director, Information in the office of the Secretary to the Government of the Federation This is a sequel to ongoing investigation of CBN and the planned reforms in financial sector […]
The average property price in the United Kingdom fell 1.0 per cent in May compared with the same period last year, the first annual decline since 2012, mortgage lender, Halifax said on Wednesday. Month-on-month, UK house prices remained flat in May, with average UK property now costing £286,532 ($357,000). Property prices have fallen by about […]
NNPC Limited has announced an adjustment to pump prices of petrol (PMS) across its retail outlets, in line with current market realities. Garba Deen Muhammad, Chief Corporate Communications Officer of the NNPCL issued the announcement in a statement on Wednesday in Abuja. According to the statement, pump prices at NNPC’s retail outlets will now begin to […]
Fuel queues returned to Nigerian cities on Monday as many motorists scrambled to get petroleum products, hours after President Bola Ahmed Tinubu announced his government would stop fuel subsidy regime. During his inauguration, Tinubu declared that there would no longer be a petroleum subsidy regime as it was not sustainable. The President said the current […]