IN THE NEWS

Daily Watch – Forex use plunges 80% on lockdown, PMB extols military’s electoral restraint

The Nigerian National Petroleum Corporation said it exported crude oil and gas worth $4.47 billion between May 2019 and May 2020 and remitted a total of ₦1.83 trillion to the Federation Account Allocation Committee during the same period. NNPC said that a total export sale of $174.80 million was recorded in May 2020. This represents a 10.73 percent decrease when compared to the preceding month. It said crude oil export sales contributed $120.50 million or 68.94 percent of the dollar transactions for the review period, compared with $148.86 million contributions in the previous month, while the export gas sales amounted to $54.29 million in the month of May 2020. A total export receipt of $133.16 million was recorded in May 2020 as against $193.05 million in April 2020, the ₦corporation said as the contribution from crude oil amounted to $105.08 million, while gas and miscellaneous receipts stood at $8.71 million and $19.37 million respectively. The export receipts, $20.20 million was remitted to the Federation Account, while $112.96 million was remitted to fund the joint venture cost recovery for the month of May 2020 to guarantee current and future production. On naira payment to Federation Account, the NNPC said that in ...
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NEWS

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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Daily Watch

Telecom companies operating in Nigeria are seeing an upsurge in ...
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Daily Watch

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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Daily Watch

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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Daily Watch

Former vice president, Namadi Sambo, has come under fire because ...
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Daily Watch

Analysts at Standard Chartered are pointing to a probable doubling ...
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Daily Watch

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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