Day: November 23, 2020

It is no longer news that Nigeria has again slid into another recession few months after getting out of the last one. What is probably cheery is that the current recession will be short-lived, and that is according to the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed. The minister who spoke at the ongoing 26th Nigerian Economic Summit organised by the Nigerian Economic Summit Group and the Federal Ministry of Finance, Budget, and National Planning assured that Nigeria would emerge from the recession in the fourth quarter…

NICON Investment and businessman Barrister Jimoh lbrahim said they are set to approach the court for an order that would quashing the interim injunction obtained by AMCON against them. It listed the assets as the building of NICON Investment Ltd at Plot 242, Muhammadu Buhari Way, Central Business District, Abuja; NICON Hotels Ltd on Plot 557, Port-Harcourt Crescent, Off Gimbiya Street, Abuja and the building of NICON Lekki Ltd also on No. 5, Customs Street, Lagos. Others are the building of Abuja International Hotels Ltd located on No. 3, Hospital…

Says Nigeria Is Unwelcoming, Unsafe, And Unpredictable Mr Asue Ighodalo, the Chairman of the Board of the Nigerian Economic Summit Group (NESG) has explained why Nigeria, Africa’s most populous nation is missing out on the $19tn invested in negative-yielding assets globally. He stated that it was because the Nigeria’s investment climate is perceived by investors as “unwelcoming, unsafe, and unpredictable.” The NESD boss made the disclosure on Monday in his welcome speech at the ongoing 26th Nigerian Economic Summit organised by the Nigerian Economic Summit Group and the Federal Ministry…

The Nigeria National Petroleum Corporation (NNPC) has spent a staggering N81.41 billion on its refineries between January and August 2020. This disclosure comes from a data release by the corporation. According to a summary of the report, which was carried out by The Punch, one of the leading media house in Nigeria, the expenses were accumulated by Kaduna Refining and Petrochemical Company, Port Harcourt Refining Company and Warri Refining and Petrochemical Company. The three refineries posted a cumulative revenue of N6.54bn during the eight-month period, and a total expense of…