Business Archives - CeZzA's Blog.

“Government of Buhari speaks about China’s default on debt repayment:

CEZZATECH — Thu, 20 Apr 2023 09:59:55 +0000

The Government of President Muhammadu Buhari has refuted claims that it defaulted in the repayment of debt to China, costing N41.31 billion. Director General of the Debt Management Office, Patience Oniha, disclosed this on Wednesday, stating that there is no loan obligation to China, which had accumulated to N110.31 billion in two years. …

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“As turnover hits N13.6b, bargain hunting in GEREGU and other areas boosts the index by 0.1%:

CEZZATECH — Mon, 30 Jan 2023 09:13:35 +0000

Despite investors’ continued profit-taking, bargain hunting in bellwether stocks, especially GEREGU power lifted the All-share index and market capitalisation by 0.1 per cent to close the week at 52,657.88 points and N28.681 trillion respectively. Similarly, all other indices finished higher except NGX 30, NGX CG, NGX Premium, NGX MERI Growth, NGX Consumer Goods …

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“Economic miseries behind surge-in loan defaults / Experts to CBN:

CEZZATECH — Thu, 15 Dec 2022 08:21:54 +0000

Economic experts have said that inflation, energy cost and foreign exchange challenges are pushing manufacturers and businesses into insolvency, non-profitability and the inability to repay loans offered by the Central Bank of Nigeria, CBN, and other institutions. The CBN had disclosed that manufacturers and industrialists received over N9.7 trillion loan interventions in the period …

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“Naira redesign: CBN_has received/N165bn worth of old notes:

CEZZATECH — Wed, 23 Nov 2022 13:05:17 +0000

The Central Bank of Nigeria has disclosed that it has received over N165bn since it made a call to Nigerians to deposit old Naira notes. President Muhammadu Buhari unveiled the newly designed N200, N500 and N1000 today, November 23, before the commencement of the Federal Executive Council meeting. CBN’s Director of …

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“Nigeria falls from fifth to seventh place on the OPEC production list:

CEZZATECH — Mon, 21 Nov 2022 10:23:25 +0000

Nigeria now ranks seventh on Organisation of the Petroleum Exporting Countries’ crude oil production list. OPEC’s Monthly Oil Market Report for November which examined oil production performance in October, revealed that Nigeria’s output was 1.014 million barrels per day in October, ranking seventh after Saudi Arabia, United Arab Emirates, Kuwait, Iraq, Angola and Algeria. Angola produced 1. …

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“Nigeria’s inflation_rate hits 21.09%:

CEZZATECH — Tue, 15 Nov 2022 16:02:54 +0000

Nigeria’s inflation rate rose to a 17-year high of 21.09% in October 2022, the National Bureau of Statistics said. This is a 0.32% point increase from 20.77% recorded in September. The NBS made this known in its Consumer Price Index (CPI) report for October 2022 released on Tuesday, Nov. 15. The …

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“Nigeria’s inflation_hits 21.09% in October:

CEZZATECH — Tue, 15 Nov 2022 15:15:04 +0000

Nigeria’s inflation rate jumped to a 17-year high of 21.09% in October 2022, representing a 0.32% point increase from 20.77% recorded last month. This is coming as food inflation in October 2022 increased to 23.72% from 18.34% in the corresponding Month last year. Cezza’s Blog learnt this on Monday in a National Bureau of …

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“Buhari weak in managing Nigeria’s /economy, governance – Report:

CEZZATECH — Mon, 14 Nov 2022 09:46:21 +0000

According to the BTI 2022 Country Report, Nigeria has performed poorly in governance, economic and political transformation under President Muhammadu Buhari. The Bertelsmann Transformation Index (BTI) assesses the status of development as well as the governance of political and economic transformation processes in developing and transition countries. Bertelsmann Stiftung, an independent institution based in …

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“Bureau De Change operators frustrating naira growth- Expert:

CEZZATECH — Sat, 12 Nov 2022 12:25:18 +0000

A consultant, Dr Boniface Chizea, said the activity of Bureau De Change operators is frustrating the growth of the Naira against foreign currencies. Naira recorded an appreciable rise against the dollar in the parallel market, standing at 730/$ from 900/$ a week ago. Speaking in a chat with DAILY POST on Friday while reacting …

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“Petrol Marketers, IPMAN Kick Over Extortions At Nigerian – Depots Causing Fuel Price Hikes At N200 Per Litre:

CEZZATECH — Tue, 01 Nov 2022 09:17:13 +0000

The marketers, in a statement, blamed private depots for the hike in price. The Independent Petroleum Marketers Association of Nigeria, on Monday, threatened to withdraw its service over incessant increment on the price of the premium motor spirit in parts of the country. The marketers, in a statement, blamed private depots for the hike in …

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