Buhari may sign 2020 budget on Tuesday
Barring any last-minute change, the President, Major General Muhammadu Buhari (retd.), is billed to assent to the 2020 Appropriation Bill on Tuesday. The PUNCH reliably learnt from National Assembly sources on Sunday that the Presidency. Click here for more.
Finance Bill as Lifeline for Nigeria’s Economic Renaissance
Today, the major headache facing the federal government is the country’s low revenue generation profile. And with the volatile nature of crude oil prices and the rising debt obligation, there is every need for policymakers in the country to be worried about the low revenue level. Click here for more.
New Senate bill takes road maintenance from FG
The Senate has introduced a new bill that will take the responsibility of road construction, rehabilitation and maintenance away from the Federal Government. The legislation, if passed and signed into law by the President, Major General Muhammadu Buhari (retd), will place such responsibility in the hands of foreign and local investors. Click here for more.
Dangote Refinery’ll Help Nigeria Save $10bn Forex – Minister
The Minister for Finance, Budget and National Planning, Mrs Zainab Ahmed, said on Sunday that the refinery being built by Dangote refinery in Lagos would help the country save N10bn foreign exchange when completed. Click here for more.
Investors Lose N154.12bn WoW As NSEASI Dips By -1.19% To Close The Week Negative
Equities market closed Friday on a negative note, as NSEASI depreciated by -0.13% to close at 26,569.80 points as against +0.51% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -15.57%. Click here for more.
Total Pension Assets Rise To N9.8tn
According to the commission, a total of N6.91tn or 70.43 per cent of the funds has been invested by the Pension Fund Administrators in the Federal Government of Nigeria’s securities, including FGN bonds, treasury bills, agency bonds, Sukuk bonds and green bonds. Click here for more.
Nigeria’s Investment Funds Hit N993bn
Total net asset of collective investment schemes and funds in Nigeria has risen by N348 billion to N993 billion, an increase of about 54 per cent in a year. Official reports coordinated by Nigeria’s apex capital market authority, Securities and Exchange Commission (SEC). Click here for more.
Naira Depreciation To Persist As Reserves Drops To 2yr Low
In the I&E window, the indicative exchange rate rose to N363.49 per dollar, last week from N363.14 per dollar the previous week, representing 35 kobo depreciation for the naira. Meanwhile, closing exchange rate of N363.49 per dollar. Click here for more.
Nigeria’s current account deficit rises again
Data from the Central Bank of Nigeria reveals that Nigeria has a cumulative current account deficit of $9.1 billion as of the third quarter of 2019, stoking fears of an impending exchange rate crisis in 2020. Click here for more.
Deepening financial inclusion, boosting fintech and imperatives
For the nation to achieve its goals of eliminating extreme poverty and boost shared prosperity through financial inclusion, there is the need to create relevant policies that would provide an enabling environment for the Financial Technology (Fintech) to thrive. Click here for more.
AFEX Commodities Exchange Secures Investment from Consonance Investment Managers
AFEX Commodities Exchange Limited (AFEX), a market leading commodity exchange in Nigeria, today announced it has secured an investment for an undisclosed amount from Consonance Investment Managers, a Sub-Saharan Africa focused early-stage and growth investment firm. Click here for more.