Sami Tunji, Author at Nairametrics Destination for Business news and analysis from Africa's largest economy Thu, 13 Jun 2024 22:20:08 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.3 https://nairametrics.com/wp-content/uploads/2021/08/cropped-cropped-favicon-1.png?resize=75,75 Sami Tunji, Author at Nairametrics 32 32 201037849 Nigeria secures World Bank’s approval for $2.25 billion loan to boost reforms  https://nairametrics.com/2024/06/13/nigeria-gets-world-banks-approval-for-2-25-billion-loan-to-boost-reforms/ https://nairametrics.com/2024/06/13/nigeria-gets-world-banks-approval-for-2-25-billion-loan-to-boost-reforms/#comments Thu, 13 Jun 2024 21:50:41 +0000 https://nairametrics.com/?p=491220 The World Bank has announced the approval of two significant financial operations aimed at bolstering Nigeria's economic stability and supporting its vulnerable populations.  

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]]> https://nairametrics.com/2024/06/13/nigeria-gets-world-banks-approval-for-2-25-billion-loan-to-boost-reforms/feed/ 1 491220 FX turnover crashes by 75.98% to a three-week low on Thursday https://nairametrics.com/2024/06/13/fx-turnover-crashes-by-75-98-to-a-three-week-low-on-thursday/ https://nairametrics.com/2024/06/13/fx-turnover-crashes-by-75-98-to-a-three-week-low-on-thursday/#respond Thu, 13 Jun 2024 19:16:22 +0000 https://nairametrics.com/?p=491212 The foreign exchange (FX) turnover on the Nigerian official market crashed by 75.98%, hitting a three-week low on Thursday.

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]]> https://nairametrics.com/2024/06/13/fx-turnover-crashes-by-75-98-to-a-three-week-low-on-thursday/feed/ 0 491212 Nigeria seeks $500 million loan from World Bank for “rural roads”  https://nairametrics.com/2024/06/13/nigeria-seeks-500-million-loan-from-world-bank-for-rural-roads/ https://nairametrics.com/2024/06/13/nigeria-seeks-500-million-loan-from-world-bank-for-rural-roads/#comments Thu, 13 Jun 2024 08:30:05 +0000 https://nairametrics.com/?p=491167 The Federal Government of Nigeria is pursuing a $500 million loan from the World Bank aimed at the development of rural roads and agricultural marketing. 

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]]> https://nairametrics.com/2024/06/13/nigeria-seeks-500-million-loan-from-world-bank-for-rural-roads/feed/ 2 491167 Nigerians withdraw N14.2 billion from pension funds as job losses spike https://nairametrics.com/2024/06/12/nigerians-withdraw-n14-2-billion-from-pension-funds-as-job-losses-spike/ https://nairametrics.com/2024/06/12/nigerians-withdraw-n14-2-billion-from-pension-funds-as-job-losses-spike/#respond Wed, 12 Jun 2024 12:37:23 +0000 https://nairametrics.com/?p=491131 The National Pension Commission (PenCom) has approved the disbursement of N14.2 billion to 8,651 Nigerians who experienced temporary job loss in the first quarter of 2024.

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]]> https://nairametrics.com/2024/06/12/nigerians-withdraw-n14-2-billion-from-pension-funds-as-job-losses-spike/feed/ 0 491131 Seven firms pay N400 million to NDPC as sanction for data breach  https://nairametrics.com/2024/06/12/seven-firms-pay-n400-million-to-ndpc-as-sanction-for-data-breach/ https://nairametrics.com/2024/06/12/seven-firms-pay-n400-million-to-ndpc-as-sanction-for-data-breach/#respond Wed, 12 Jun 2024 08:02:55 +0000 https://nairametrics.com/?p=491123 The Nigeria Data Protection Commission (NDPC) has said that it has earned N400 million from sanctions imposed on seven firms for breaches of citizens’ data. 

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]]> https://nairametrics.com/2024/06/12/seven-firms-pay-n400-million-to-ndpc-as-sanction-for-data-breach/feed/ 0 491123 Naira trades within narrow range as FX turnover surges by 138.67%  https://nairametrics.com/2024/06/11/naira-trades-within-narrow-range-as-fx-turnover-surges-by-138-67/ https://nairametrics.com/2024/06/11/naira-trades-within-narrow-range-as-fx-turnover-surges-by-138-67/#respond Tue, 11 Jun 2024 20:34:19 +0000 https://nairametrics.com/?p=491103 The naira exhibited signs of moderate stability as foreign exchange (FX) turnover surged by 138.67% on the Nigerian Autonomous Foreign Exchange Market (NAFEM) window. 

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]]> https://nairametrics.com/2024/06/11/naira-trades-within-narrow-range-as-fx-turnover-surges-by-138-67/feed/ 0 491103 Nigeria’s foreign debt service costs surge by 96% to $2.19 billion by May 2024  https://nairametrics.com/2024/06/11/nigerias-foreign-debt-service-costs-surge-by-96-to-2-19-billion-by-may-2024/ https://nairametrics.com/2024/06/11/nigerias-foreign-debt-service-costs-surge-by-96-to-2-19-billion-by-may-2024/#respond Tue, 11 Jun 2024 09:38:24 +0000 https://nairametrics.com/?p=491055 Nigeria has seen a significant surge in its foreign debt servicing costs, with an increase of 96% year-on-year, according to the latest data released by the Central Bank of Nigeria (CBN). 

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]]> https://nairametrics.com/2024/06/11/nigerias-foreign-debt-service-costs-surge-by-96-to-2-19-billion-by-may-2024/feed/ 0 491055 FAAC: Shared revenue drops by 5.38% to N1.143 trillion for May 2024 https://nairametrics.com/2024/06/11/faac-shared-revenue-drops-by-5-38-to-n1-143-trillion-for-may-2024/ https://nairametrics.com/2024/06/11/faac-shared-revenue-drops-by-5-38-to-n1-143-trillion-for-may-2024/#respond Tue, 11 Jun 2024 07:16:53 +0000 https://nairametrics.com/?p=491041 The Federation Accounts Allocation Committee (FAAC) has announced the disbursement of N1.143 trillion as the total revenue for May 2024

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]]> https://nairametrics.com/2024/06/11/faac-shared-revenue-drops-by-5-38-to-n1-143-trillion-for-may-2024/feed/ 0 491041 FX turnover records first crash after Afrexim Bank’s $925 million announcement  https://nairametrics.com/2024/06/11/fx-turnover-records-first-crash-after-afrexim-banks-925-million-announcement/ https://nairametrics.com/2024/06/11/fx-turnover-records-first-crash-after-afrexim-banks-925-million-announcement/#respond Tue, 11 Jun 2024 05:19:56 +0000 https://nairametrics.com/?p=491022 The foreign exchange (FX) turnover on the Nigerian official market crashed by 39.95% on Monday.

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]]> https://nairametrics.com/2024/06/11/fx-turnover-records-first-crash-after-afrexim-banks-925-million-announcement/feed/ 0 491022 Nigeria’s money supply rebounds to historic N96.97 trillion in April 2024, defying MPC’s tightening measures https://nairametrics.com/2024/06/10/nigerias-money-supply-rebounds-to-historic-n96-97-trillion-in-april-2024-defying-mpcs-tightening-measures/ https://nairametrics.com/2024/06/10/nigerias-money-supply-rebounds-to-historic-n96-97-trillion-in-april-2024-defying-mpcs-tightening-measures/#respond Mon, 10 Jun 2024 14:21:19 +0000 https://nairametrics.com/?p=491003 Nigeria’s money supply (M3) has surged to a new peak of N96.97 trillion in April 2024, reflecting a significant recovery from previous decline recorded in March. This growth comes in the face of the Monetary Policy Committee’s (MPC) stringent measures aimed at controlling inflation.

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]]> https://nairametrics.com/2024/06/10/nigerias-money-supply-rebounds-to-historic-n96-97-trillion-in-april-2024-defying-mpcs-tightening-measures/feed/ 0 491003 States urge FG to halt foreign loan-backed grants, subsidies for rural electrification in Nigeria https://nairametrics.com/2024/06/10/states-urge-fg-to-halt-foreign-loan-backed-grants-subsidies-for-rural-electrification-in-nigeria/ https://nairametrics.com/2024/06/10/states-urge-fg-to-halt-foreign-loan-backed-grants-subsidies-for-rural-electrification-in-nigeria/#comments Mon, 10 Jun 2024 11:59:20 +0000 https://nairametrics.com/?p=490984 State governments have raised concerns over the Federal Government's use of foreign loans to fund grants and subsidies for private investors involved in rural electrification programs.

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]]> https://nairametrics.com/2024/06/10/states-urge-fg-to-halt-foreign-loan-backed-grants-subsidies-for-rural-electrification-in-nigeria/feed/ 1 490984 Nigeria’s motorcycle imports surge by 204% in Q1 2024 on weak naira, India overtakes China as top supplier   https://nairametrics.com/2024/06/10/nigerias-motorcycle-imports-surge-by-204-in-q1-2024-on-weak-naira-india-overtakes-china-as-top-supplier/ https://nairametrics.com/2024/06/10/nigerias-motorcycle-imports-surge-by-204-in-q1-2024-on-weak-naira-india-overtakes-china-as-top-supplier/#respond Mon, 10 Jun 2024 09:05:50 +0000 https://nairametrics.com/?p=490958 Data from the National Bureau of Statistics reveal Nigeria recorded N117.4 billion as import cost for motorcycles in the first quarter of 2024 

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]]> https://nairametrics.com/2024/06/10/nigerias-motorcycle-imports-surge-by-204-in-q1-2024-on-weak-naira-india-overtakes-china-as-top-supplier/feed/ 0 490958 Ten most traded product categories in Nigeria in Q1 2024  https://nairametrics.com/2024/06/09/ten-most-traded-product-categories-in-nigeria-in-q1-2024/ https://nairametrics.com/2024/06/09/ten-most-traded-product-categories-in-nigeria-in-q1-2024/#respond Sun, 09 Jun 2024 18:43:16 +0000 https://nairametrics.com/?p=490947 Nigeria’s foreign trade statistics report for the first quarter of 2024 reveals a significant trade surplus of N6.52 trillion.

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]]> https://nairametrics.com/2024/06/09/ten-most-traded-product-categories-in-nigeria-in-q1-2024/feed/ 0 490947 States to FG: Mandate immediate ‘no-meter, no-service’ policy for new electricity connections in Nigeria https://nairametrics.com/2024/06/09/states-to-fg-mandate-immediate-no-meter-no-service-policy-for-new-electricity-connections-in-nigeria/ https://nairametrics.com/2024/06/09/states-to-fg-mandate-immediate-no-meter-no-service-policy-for-new-electricity-connections-in-nigeria/#respond Sun, 09 Jun 2024 09:26:29 +0000 https://nairametrics.com/?p=490920 State governments have urged the federal government to enforce a "no-meter, no-service" policy for all new electricity connections in an effort to tackle the metering issues within Nigeria's power sector.

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]]> https://nairametrics.com/2024/06/09/states-to-fg-mandate-immediate-no-meter-no-service-policy-for-new-electricity-connections-in-nigeria/feed/ 0 490920 Nigeria’s trade surplus hits new high of N6.52 trillion in Q1 2024  https://nairametrics.com/2024/06/09/nigerias-trade-surplus-hits-new-high-of-n6-52-trillion-in-q1-2024/ https://nairametrics.com/2024/06/09/nigerias-trade-surplus-hits-new-high-of-n6-52-trillion-in-q1-2024/#respond Sun, 09 Jun 2024 07:31:38 +0000 https://nairametrics.com/?p=490905 Nigeria's foreign trade statistics report for the first quarter of 2024 reveals a significant trade surplus of N6.52 trillion. 

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]]> https://nairametrics.com/2024/06/09/nigerias-trade-surplus-hits-new-high-of-n6-52-trillion-in-q1-2024/feed/ 0 490905 Reps to probe MDAs for over $2 billion renewable energy investments in Nigeria  https://nairametrics.com/2024/06/07/reps-to-probe-mdas-for-over-2-billion-renewable-energy-investments-in-nigeria/ https://nairametrics.com/2024/06/07/reps-to-probe-mdas-for-over-2-billion-renewable-energy-investments-in-nigeria/#respond Fri, 07 Jun 2024 18:01:12 +0000 https://nairametrics.com/?p=490846 The House of Representatives has mandated its Committee on Renewable Energy to investigate various Ministries, Departments, and Agencies (MDAs) involved in the investment, procurement, and receipt of grants aimed at developing the renewable energy sector in Nigeria. 

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]]> https://nairametrics.com/2024/06/07/reps-to-probe-mdas-for-over-2-billion-renewable-energy-investments-in-nigeria/feed/ 0 490846 World Bank mandates hiring security consultant for $1.2 billion loan project in Nigeria  https://nairametrics.com/2024/06/07/world-bank-mandates-hiring-security-consultant-for-1-2-billion-loan-project-in-nigeria/ https://nairametrics.com/2024/06/07/world-bank-mandates-hiring-security-consultant-for-1-2-billion-loan-project-in-nigeria/#respond Fri, 07 Jun 2024 12:10:59 +0000 https://nairametrics.com/?p=490820 The World Bank has mandated the hiring of a security consultant to address pervasive insecurity issues affecting its $1.2 billion loan project in Nigeria. 

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]]> https://nairametrics.com/2024/06/07/world-bank-mandates-hiring-security-consultant-for-1-2-billion-loan-project-in-nigeria/feed/ 0 490820 FG plans to pay N1.7 trillion electricity debt through bonds, promissory notes https://nairametrics.com/2024/06/06/fg-plans-to-pay-n1-7-trillion-electricity-debt-through-bonds-promissory-notes-2/ https://nairametrics.com/2024/06/06/fg-plans-to-pay-n1-7-trillion-electricity-debt-through-bonds-promissory-notes-2/#respond Thu, 06 Jun 2024 08:17:27 +0000 https://nairametrics.com/?p=490727 The Federal Government of Nigeria plans to settle about N1.7 trillion electricity debt through the issuance of bonds and promissory notes.

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]]> https://nairametrics.com/2024/06/06/fg-plans-to-pay-n1-7-trillion-electricity-debt-through-bonds-promissory-notes-2/feed/ 0 490727 SEC DG engages Securities Dealing Houses in Nigeria to address N190 billion unclaimed dividends https://nairametrics.com/2024/06/06/sec-dg-engages-securities-dealing-houses-in-nigeria-to-address-n190-billion-unclaimed-dividends/ https://nairametrics.com/2024/06/06/sec-dg-engages-securities-dealing-houses-in-nigeria-to-address-n190-billion-unclaimed-dividends/#respond Thu, 06 Jun 2024 07:30:26 +0000 https://nairametrics.com/?p=490722 The Acting Director General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has urged the Association of Securities Dealing Houses of Nigeria (ASHON) and other key stakeholders in the capital market to collaborate with the Commission in addressing the substantial issue of unclaimed dividends, which currently stands at a staggering N190 billion.

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]]> https://nairametrics.com/2024/06/06/sec-dg-engages-securities-dealing-houses-in-nigeria-to-address-n190-billion-unclaimed-dividends/feed/ 0 490722 Naira hits three-week low at N1,488.60/$1 on official market  https://nairametrics.com/2024/06/06/naira-hits-three-week-low-at-n1488-60-1-on-official-market/ https://nairametrics.com/2024/06/06/naira-hits-three-week-low-at-n1488-60-1-on-official-market/#respond Thu, 06 Jun 2024 06:41:37 +0000 https://nairametrics.com/?p=490710 The naira depreciated to its lowest level in three weeks on the official market on Wednesday, June 5, 2024. 

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]]> https://nairametrics.com/2024/06/06/naira-hits-three-week-low-at-n1488-60-1-on-official-market/feed/ 0 490710