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The South Korean candidate for the World Trade Organisation (WTO) director-general position, Yoo Myung-hee, has officially withdrawn her candidacy. This development means that Nigeria’s Ngozi Okonjo-Iweala is now the only candidate left in the race. Yoo Myung-hee is South Korea’s trade minister and its candidate for the top job at […]
The founder of Amazon, Jeff Bezos says he will step down as the chief executive officer of the e-commerce company by the third quarter of 2021. Bezos will now take the role of executive chair in the company which he founded in 1994—27 years ago. The current chief executive of […]
Nigerian economist and CEO, Financial Derivatives Limited, Mr Bismarck Rewane has said the naira will weaken in the parallel market and likely depreciate to 470 against the dollar in 2021, if oil prices stay at $50 per barrel, Rewane made this known in his presentation at a virtual forum tagged […]
The speaker of the house of representatives, Femi Gbajabiamila, says the lower legislative chamber will pass the Petroleum Industry Bill (PIB) in April adding that the successful passage of the legislation is a commitment the house has made. Speaking at a public hearing organised by an ad hoc committee on […]
The Central Bank of Nigeria (CBN) says Nigeria’s foreign exchange reserves increased from $34.94 billion in November 2020 to $36.23 billion as of January 21, 2021. The CBN governor, Godwin Emefiele on Tuesday provided these figures at a press conference at the end of the January monetary policy committee meeting. […]
The Federal Government generated N454.69bn from Value Added Tax in the fourth quarter of 2020. The National Bureau of Statistics revealed this in its report on ‘Sectoral distribution of Value Added Tax’ for fourth quarter of 2020. Part of the report read, “Sectoral distribution of Value Added Tax data for […]
The federal government under the World Bank supported states fiscal transparency, accountability and sustainability (SFTAS) Programme-for-Results has disbursed N123.34 billion performance-based grant to eligible states. The minister of finance, budget and national planning, Zainab Ahmed, said Sokoto state received the highest amount of N6.612 billion while Kano state got the […]
On Tuesday, the naira suffered further decline at the parallel market and Investors and Exporters forex window. According to figures obtained from Bureau De Change operators, the naira exchanged to the dollar for 473/$ at the parallel market. In recent times, it had gained after ending the year 2020 at […]
A voluntary production cuts document published by the Organisation of Petroleum Exporting Countries (OPEC) reveals that Nigeria has agreed to voluntarily cut its daily crude oil production by 939,000 barrels between January and March. If the cuts is fully complied with, Nigeria’s daily production will be 1.51 million barrels per […]
