The nation’s finance minister, Zainab Ahmed, says the coronavirus pandemic and falling oil prices are set to force the economy into negative growth. Ms. Ahmed made the comments after the National Economic Summit meeting in Abuja on Thursday. “On the economy, COVID-19 has resulted in the collapse in oil prices,” …
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Latest ranking of the world’s richest people by Forbes has shown that oil tycoon and Nigerian Business mogul, Femi Otedola‘s net worth has plunged from $1.8 Billion to $550 Million as recession beat down a massive drop in the stock price of Forte Oil, the Nigerian Stock Exchange-listed petroleum marketing company. As …
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The Minister of Finance, Mrs. Kemi Adeosun, has said the country is already getting out of the economic recession, given the pragmatic approaches the Federal Government is taking to reverse the trend. She said this on Wednesday while fielding questions from journalists at the end of a two-day National Council …
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The Nigerian banking sector’s profit fell by 28.4 per cent in the 2015 financial year, the just released Afrinvest 2016 Banking Sector Report showed. The report, released in Lagos on Wednesday, indicated that foreign exchange volatility and lower oil price led to a major decline in the fortune of the …
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