FINANCE - 12 JUN 2020

Daily Briefing: Osinbajo submits ₦2.3 trillion sustainability plan

Daily Briefing: Osinbajo submits ₦2.3 trillion sustainability plan
Yemi Osinbajo, Vice-President of Nigeria. Source: World Economic Forum via Flickr

 

Economy

Osinbajo submits ₦2.3 trillion sustainability plan

The Vice President, Yemi Osinbajo has submitted a ₦2.3trillion sustainability plan to the President. The plan is part of the Federal Government's response to the impact of the COVID-19 pandemic. It includes support of private organisations in strategic sectors and the expansion of the Social Intervention Programmes such as N-power and TraderMoni which have already impacted over 12 million Nigerians. The plan will also focus on providing technology and ICT related jobs.

Advertisement
Mid Article Unit Ad
Banking

Unity Bank announces ₦3.6 billion profit

Unity Bank announced a profit before tax (PBT) of ₦3.6 billion in 2019, a turnaround from its loss of ₦7.5 billion in the previous year. The change in fortune was driven mainly by an 18% increase in net interest income to ₦16.5 billion and a 5% reduction in operating expenses to ₦19.6 billion. Unity Bank’s profitability has continued in 2020 as it announced a Q1 2020 PBT of ₦550 million. 

 

Film and Tv

Multichoice to integrate Netflix, Amazon streaming services on decoder 

Multichoice, owners of DStv, Africa’s largest PayTV, signed deals with Netflix and Amazon, to integrate their streaming services into a new DStv Explora decoder. The goal is to encourage customer retention as competition arises with streaming platforms gaining subscribers in Africa. Still, in Multichoice’ full-year report (2019 April - March 2020), its subscribers rose by 5%, with demand increasing in March when South Africa, its biggest market, began its COVID-19 lockdown.

 

Please take a moment to tell us what you think about Stears Business. This survey takes less than 4 minutes.

To get this Daily Briefing on the go, subscribe to our WhatsApp channel here.

Read our latest articles here and here. And subscribe to our weekly newsletter.
Daily Briefing

Daily Briefing

Read Latest

Nigeria’s future depends on international trade

PREMIUM - 18 SEP 2020

What happens when you invest in Nigeria

PREMIUM - 17 SEP 2020

Nigeria’s shaky power problem

PREMIUM - 16 SEP 2020

Nigeria’s costly rural road deficit keeps millions stuck

PREMIUM - 15 SEP 2020