BUSINESS

Naira appreciates marginally against dollar after Buhari’s victory

Daily Dispatch February 27, 2019

The Naira on Wednesday gained N1 to exchange at N358 to the dollar at the parallel market in Lagos, stronger than N359 traded on Tuesday. The Pound Sterling and the Euro closed at N470 and N408, respectively. Trading at the Bureau De Change (BDC) segment saw the naira closing at N360 to the

BUSINESS

FG, States And LGs Share N610.368bn In February

Daily Dispatch February 27, 2019

The Federation Accounts Allocation Committee (FAAC) has shared a total of N610.368 billion to the three tiers of government. According to a statement on Wednesday by the Director of Information at the Ministry of Finance, Hassan Dodo, the money was the federal revenue generated in the month of January but shared in February. The statement […]

BUSINESS

VAT: Manufacturing sector contributed N864bn in 6 years – NBS

Daily Dispatch February 27, 2019

The manufacturing sector contributed about N864 billion of the N3.63 trillion generated as Value Added Tax (VAT) from 2013 to 2018, an analysis by the National Bureau of Statistics (NBS) has revealed. The NBS report on Sectoral Distribution of VAT showed that the manufacturing sector’s contribution represented 24 per cent of the total VAT generated within the […]

BUSINESS

Oil prices rise as OPEC resists Trump pressure to ease supply cuts

Daily Dispatch February 27, 2019

Oil prices rose on Wednesday after a report of declining U.S. crude inventories and as producer club Organization of the Petroleum Exporting Countries (OPEC) seemed to stick to its supply cuts despite pressure from U.S. President Donald Trump. U.S. West Texas Intermediate (WTI) crude oil futures were at 55.99 dollars per barrel at 0600 GMT, […]

BUSINESS

Presidential election: NSE capitalisation loses N85b in six hours

Daily Dispatch February 26, 2019

The market capitalisation of listed equities on Tuesday shed N85 billion in six hours of trading to what traders attributed to profit taking as result presidential poll.Specifically, the market capitalisation, which opened at N12.194 trillion, shed N85 billion or 0.69 per cent to close at N12.109 trillion.Also, the All-Share Index lost 226.30 points or 0.69 […]

BUSINESS

Only 1.67million customers use pre-paid meter – NBS

Daily Dispatch February 24, 2019

The number of electricity consumers currently using prepaid meters in Nigeria rose by 200,000 in the fourth quarter of last year to 1.67 million, figures released by the National Bureau of Statistics have revealed. In its power sector report, the NBS said the 1.67 million prepaid meter holders represented an increase of one per cent […]