1. Nigeria’s 96% revenue used to service debt in 2022 – World Bank
The World Bank says Nigeria’s constant fiscal deficit has worsened the nation’s public debt stock, with 96.3 percent of government revenue spent on servicing debt in 2022.. Read more
Source: https://punchng.com/nigerias-96-revenue-used-to-service-debt-in-2022-world-bank/?amp
2. Fuel subsidy: IMF reluctant to interfere with Nigeria’s decision
THE International Monetary Fund, IMF, has expressed disapproval of subsidy policies for certain commodities in Nigeria, Kenya and other countries in Sub-Saharan Africa, giving reasons why it should be scrapped.. Read more
Source: https://www.vanguardngr.com/2023/04/fuel-subsidy-imf-reluctant-to-interfere-with-nigerias-decision/
3. With a Combine N1.562trn, Zenith Bank, GTCO Emerge Most Capitalised Banks on NGX
Following a 7.7 per cent and 10.87 per cent increase in their share price in the first quarter of 2023, Zenith Bank Plc and Guaranty Trust Holding Company Plc (GTCO) outpaced other Deposit Money Banks (DMBs) to emerge most capitalised banks on the Nigerian Exchange Limited (NGX)… Read more
4. Nigerian, West African insurers move for global competitiveness
The Chairperson of the Local Organising Committee of the forthcoming West African Insurance Association Education Conference, Mrs Bola Odukale, has said underwriters in the West African subregion are ensuring improved ratings to meet up with their global counterparts, to enable them to play as global brands… Read more
Source: https://punchng.com/nigerian-west-african-insurers-move-for-global-competitiveness/?amp
5. Rising Unemployment: 81,000 pension contributors lose jobs in 2yrs
IN apparent reflection of rising unemployment across the country caused by the impact of an increasingly harsh economic environment on companies and individuals, 81,000 pension contributors lost their jobs in the last two years, representing a 17.4 percent increase from the two previous years… Read more
