BUSINESS

IMF warns coronavirus recession could be worse than 2009

Daily Dispatch March 23, 2020

The world economy is facing “severe” economic damage from the coronavirus pandemic that could be even more costly than in 2009 and will require an unprecedented response, IMF chief Kristalina Georgieva said Monday. Georgieva called on advanced economies to provide more support to low income

BUSINESS

Inflation Hits 12.20 Percent In February 2020

Daily Dispatch March 17, 2020

Nigeria’s headline inflation has recorded yet another rise to 12.20 percent in February, from the 12.13 percent recorded in January the same year. A report published by the National Bureau of Statistics on Tuesday revealed that food inflation increased marginally Year on Year to 14.90% in January 2020, compared to the figures obtained (14.85%) in […]

BUSINESS

COVID-19: CBN Reduces Interest Rates, Rolls Out Other Interventions To Cushion Effect

Daily Dispatch March 16, 2020

The Central Bank of Nigeria (CBN) has announced reduction of interest rates in all its intervention facilities from nine per cent to five per cent per annum for one year to ameliorate the effect of coronavirus pandemic. The CBN Governor, Mr Godwin Emefiele made this known while addressing newsmen in Abuja on Monday. Emefiele said […]

BUSINESS

FIRS to improve tax income revenue following crash in oil prices

Daily Dispatch March 11, 2020

The Federal Inland Revenue Service says it is working on improving tax income generation.This is against the backdrop of a crash in oil prices caused by the corona virus’ spread across borders. The agency’s chairman, Muhammed Nami, made this known during a meeting with the Niger state government on revenue generation. Oil prices dipped to […]

BUSINESS

Bad news for Nigeria: UAE joins oil price war by jacking output

Daily Dispatch March 11, 2020

It’s looking gloomier and gloomier for Nigeria in the oil sector as the United Arab Emirates, OPEC’s third biggest producer joined the oil price war, started by Saudi Arabia. UAE’s Abu Dhabi National Oil Company (ADNOC) said on Wednesday it was positioned to boost its supply to the market to over 4 million bpd in […]

BUSINESS LEAD STORY 2

We need to take diversification of Nigeria’s economy more seriously – Dangote

Daily Dispatch March 11, 2020

Popular business mogul and the Chairman of Dangote Group, Aliko Dangote has called for more seriousness in handling diversification of Nigeria’s economy. The tycoon disclosed this on Wednesday while addressing participants at a consultative round table organised by the Central Bank of Nigeria (CBN), in Abuja. Dangote lamented that he has been hearing about