IN THE NEWS

Daily Watch – Buhari signs revised budget today, Access moves to acquire Zambian bank

President Muhammadu Buhari will sign the ₦10.8 trillion revised 2020 Appropriation Bill into law today. At a meeting with the leadership of the National Assembly on plans to submit the 2021-2023 Medium Term Expenditure Framework and Fiscal Strategy Paper later this month, finance minister, Zainab Ahmed said that Buhari had given directives for the ministry to expedite action on next year’s budget estimates to enable him present the 2021 budget proposal to the National Assembly by the end of September this year. Ms Ahmed, while giving an update on the 2020 budget implementation between January and May 2020, said that the FG’s retained revenue was ₦1.48 trillion, an amount representing 56 percent of government’s target. She added that out of the sum generated as revenue, oil revenues accounted for ₦701.6 billion; non-oil tax revenues ₦439.32 billion; Companies Income Tax and Value Added Tax collections – ₦213.24 billion and ₦68.09 billion; and Customs collection N158 billion, respectively. Other revenues, according to the Minister amounted to ₦339.51 billion, of which Independent revenues was ₦80.22 billion. Recoveries and Stamp duty collected during the period are yet to be booked in the fiscal accounts. On Expenditure performance for the same period (January – May ...
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NEWS

Daily Watch – Sukuk recommended for Nigeria, Afren investors may lose investments

Standard and Poors, the ratings agency, is recommending that Sukuk ...
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Daily Watch – Concerns over health of banks, Azura Thermal Plant gets green light

There is growing concern over the rise in banks' non-performing ...
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Daily Watch – NNPC gets new boss, Medview goes to London

President Muhammadu Buhari has approved the appointment of Dr. Emmanuel ...
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Daily Watch – Buhari asks Planning Commission to prioritise capital expenditure, Modular building arrives Nigeria

The Presidency has announced that President Muhammadu Buhari aims to ...
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Daily Watch – Import waivers causing harm, Cement production to ramp up

Some of the tax incentives offered to encourage Foreign Direct ...
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Daily watch – Eni looking to leave Nigeria, Dangote gets American training

Eni SpA, Italy’s largest oil company is considering selling part ...
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Daily watch – Refineries coming back online, Reps to force multinationals to list on Exchange

The Port Harcourt and Warri refineries have started preliminary production ...
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Daily Watch – Customs moves against rice importers as CBN makes cash available to farmers

The Nigeria Customs Service has sealed the warehouses and business ...
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Daily Watch – Foreign debt rises, Insurance industry grows

Nigeria's foreign debt for half-year 2015 has risen by 10%, ...
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Daily Watch – State loans to be restructured, Gold refinery coming up

The Central Bank of Nigeria (CBN) has approved a restructuring ...
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Daily Watch

US$2.67 billion of fresh capital flowed into Nigeria's economy in ...
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Daily Watch

Manufacturers in the Food, Beverage, and Tobacco industry are warning ...
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Telecom companies operating in Nigeria are seeing an upsurge in ...
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Global ratings firm Standard & Poor's has said Nigeria cannot ...
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Daily Watch

A deal was reached between negotiators representing six world powers, ...
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Daily Watch

President Muhammadu Buhari on Monday, instructed the NNPC to review ...
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The Department of Petroleum Resources has blamed the unending scarcity ...
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The naira fell to a new low of 235 to ...
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Daily Watch

Deposit Money Banks (DMBs) in Nigeria reported 10,612 fraud cases ...
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Daily Watch

The naira continued to slide yesterday, reaching a new low ...
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Former vice president, Namadi Sambo, has come under fire because ...
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Analysts at Standard Chartered are pointing to a probable doubling ...
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The Central Bank of Nigeria has imposed more restrictions on ...
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Daily Watch

Public anger over the size of pecuniary benefits of Nigeria’s ...
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