BUSINESS

DPR: We’ve accurate record of crude production

Daily Dispatch April 16, 2021

The Department of Petroleum Resources (DPR) on Friday debunked claims that the exact volume of crude oil produced in the country was not known. Mr Paul Osu, Head, Public Affairs, DPR, in a statement issued in Lagos, said every litre of crude produced in the country was adequately captured

BUSINESS

Sugar War: NGO urges FG to resolve Dangote, BUA dispute amicably

Daily Dispatch April 16, 2021

Advocacy for Integrity and Economic Development (AIED), an NGO, on Friday urged the Federal Government to amicably resolve the  dispute between the major players in the sugar industry, irrespective of the strong positions of parties involved. Mr Seun John, AIED Director of Publicity, gave the charge in a statement made available to the News Agency of Nigeria […]

BUSINESS

CBN to place sugar, wheat on FX restriction list

Daily Dispatch April 16, 2021

The Central Bank of Nigeria is set to place forex restriction on selected commodities including sugar and wheat. CBN Governor, Godwin Emefiele, stated this on Thursday in Nasarawa State during an inspection tour of the proposed $500m Dangote sugar processing facility. He said, “We are looking at sugar and wheat. We started a programme on […]

BUSINESS

Inflation Rises To18% In March – NBS

Daily Dispatch April 15, 2021

Inflation rose to 18 percent in March representing 0.82 percent points year-on-year (YoY) rise when compared to 17 percent recorded in February. Similarly, food inflation rose YoY by 5.0 percent points to 23 percent in March from 22 percent in February. The National Bureau of Statistics, NBS, disclosed this Thursday in its consumer price index, […]

BUSINESS

Shoprite sells Nigerian business to property company – Report

Daily Dispatch April 14, 2021

A Nigerian property company will be taking over Shoprite’s local business in Nigeria, Reuters reported on Wednesday, citing multiple sources. Persianas is buying Shoprite’s Nigerian business after the South African retailer decided to retreat from other African markets. Shoprite, with more than 2,300 stores across Africa, is awaiting regulatory approval on the sale of its

BUSINESS

Households, businesses can apply for N50bn COVID-19 loans – CBN

Daily Dispatch April 13, 2021

The Central Bank of Nigeria has said that households and businesses affected by the COVID-19 can now apply for loans under its N50bn Targeted Credit Facility. It said the stimulus package was to support households and Micro, Small and Medium Enterprises affected by the COVID-19 pandemic, adding that beneficiaries could access up to N25m. This […]