Industry & Money

Credit to Private Sector Depreciated to ₦71.21tr

The Central Bank of Nigeria (CBN) has disclosed that banks’ credit to the private sector declined by 12 per cent month-on-month in...

169

Mechanisation: FG Opens Talks with Vendors for Supply of 85,000 Farm Equipment

The federal government has opened discussions with Chinese agricultural/construction machinery vendors to boost the current administration’s agricultural transformation agenda as well as...

202

House Moves against Cement Manufacturers, Vows to Checkmate Price Hike

The House of Representatives has vowed to leave no stone unturned to put the right laws in place that could help checkmate...

287

Electricity: FG Reduces ‘Band A’ Tariff by 8% to ₦206.8/kWh

NERC yesterday announced an eight percent reduction on electricity tariff paid by customers in Band A from N225/kWh to N206.8/kWh. The Commission, in...

130

FG Abolishes Payment of Signature Bonus for Oil Investors

The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has announced the abolition of signature bonus payment to the Federal Government by...

213

FG Directs Banks to Deduct Stamp Duty Charges on Mortgages

The Federal Government has directed Deposit Money Banks to immediately begin the deduction of 0.375 per cent stamp duty charge on all...

159

Purchasing Index: New Orders Rise as Inflationary Pressures Ease

The Purchasing Managers’ Index (PMI) report has shown that inflationary pressures softened in the Nigerian private sector during April, following record increases in purchase...