Fiscal
NIMASA: Maritime sector can generate $1.6 trillion annually if properly harnessed
The maritime sector has the capacity to generate more than 1.6 trillion dollars annually if properly harnessed, Mr Bashir Jamoh, Director-General, Nigerian Maritime Administration and Safety Agency (NIMASA), has said. Jamoh stated this on Wedneday while delivering a lecture on Maritime Security and National Development in Nigeria at the National Defence College, Abuja. “The maritime sector can generate not less than 1.6trillion dollars if we can properly harness all the investment opportunities and have foreign investors come and assist in the development. “Development in the shipping sector requires good planning. This is the right time we have to start planning. “With the estimated revenue per annum in the maritime sector, it can provide 30 times what the oil industry can provide. “That ...
Nigerian stocks down by N1.14 trillion in first half
Nigerian stocks closed the first half down with average loss of 8.80 per cent, equivalent to net capital depreciation of N1.14 trillion as investors struggled with a threesome of domestic macroeconomic uncertainties, global decline in crude oil price and trade wars and the ravaging COVID-19 pandemic. Benchmark indices at the Nigerian Stock Exchange (NSE), which are generally regarded as sovereign equity indices for Nigeria, showed that Nigerian stocks swiveled through steep decline in first quarter and a major recovery in early months of the second quarter, closing the six-month period with net loss of N1.14 trillion. The All Share Index (ASI), a common value-based index that tracks all share prices at the Exchange, closed first half at 24,479.22 points as against 26,842.07 points recorded...
