FINANCE - 15 MAY 2020

DB: Ekiti's ROW charge; IATA travel outlook; 2020 budget reductions

DB: Ekiti's ROW charge; IATA travel outlook; 2020 budget reductions
Daily Briefing via Stears


Mid Article Unit Ad

Ekiti approves ₦145 Right of Way charge

Ekiti State has approved a Right of Way (RoW) charge reduction from ₦4,500 to ₦145 per meter. The RoW charge is paid by telcos to lay telecommunication cables. In 2018, state governors agreed to implement a RoW charge of ₦145 but many states subsequently charged over ₦3,000. The reduction in RoW charges will help the Nigerian Communications Commission (NCC) in its quest to attain 70% broadband penetration by 2021.


Travel & Hospitality

IATA releases air travel outlook

International Air Transport Association (IATA), a trade association of 290 global airlines, predicts that passenger demand will be between 24% and 34% lower next year compared with 2019. It expects international transport to be more affected due to on-arrival quarantine requirements. Despite the negative report, the IATA still expects populated emerging markets like Nigeria & China to drive long term demand for air services. 


Macro Economy

2020 budget reduced by ₦70 billion

The 2020 budget has been revised downwards by ₦70 billion to ₦10.52 trillion. The benchmark crude price was also lowered to $25, with oil output falling by 28% to 1.9mbpd. Projected revenues saw a more significant cut, reflecting the decline in oil prices. They were revised from ₦8.1 trillion to ₦5.1 trillion, leading to a fiscal deficit of ₦5.3 trillion. The government plans to finance the deficit with borrowing and asset sales.



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


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

Daily Briefing

Read Latest

The importance of getting food production right in Nigeria

ECONOMY - 29 MAY 2020

DB: NCAA guidelines; MPR reduction; Siemens contract

FINANCE - 29 MAY 2020

Graphics: Battle of the telcos

ECONOMY - 28 MAY 2020

DB: CBN approves debt reliefs; Bolt raises ₦50.1 billion; AfDB to probe Adesina

FINANCE - 28 MAY 2020