Buhari may seek amendments to 2020 budget

The President, Major General Muhammadu Buhari (retd.), said on Tuesday that he might seek virement and amendments to the 2020 budget by forwarding proposals to the National Assembly. Click here for more.

Government gets N45.8 billion from Stamp Duties

The Federal Government has raked in over N45.8 billion from stamp duties, following the reforms introduced by the present administration. Post Master General of the Federation and Chief Executive Officer of Nigerian Postal Service (NIPOST). Click here for more.

Nigeria, Others Pushed Global Debt To $188tn – IMF

Total global debt rose by $3tn to $188tn at the end of 2018 as Nigeria, China and other countries increased their borrowings, the International Monetary Fund said on Tuesday. Nigeria’s total public debt, which stood at N21.73tn as of December 31, 2017, rose to N24.39tn. Click here for more.

NSEASI Pares Gain; Dips By -0.13% As YTD Return Stands At -15.18%

Equities market closed today on a negative note, as NSEASI depreciated by -0.13% to close at 26,660.44 points as against +0.60% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -15.18%. Click here for more.

Nigerian Insurance Industry Ranks 62nd In The World

The Nigerian Insurance Industry ranks 62nd in the world with $1.64 billion premium representing 0.2 percent of premium collected globally in 2018. The Nigerian Stock Exchange (NSE) disclosed this in its 2019 report. Click here for more.

Nigeria Plans to Start Securities Lending to Increase Trading

The Nigerian Securities and Exchange Commission is in talks with institutional investors and other regulators to allow securities lending in an effort to reignite flagging trading volumes. Click here for more.

Investors see green light in smaller African countries as oil investment dries up in Nigeria

When it comes to investment in the oil and gas sector, Africa’s biggest oil-producing country is losing a decisive battle to smaller oil-producing countries. The latest is Equatorial Guinea, which is expecting at least $1.4 billion from foreign investments. Click here for more.

Seplat Concludes Acquisition of Eland

Seplat Petroleum Development Company Plc yesterday announced the conclusion of the acquisition of Eland Oil & Gas Plc. The boards of Seplat and Eland had last October announced that they had reached agreement on the terms of a recommended cash acquisition by Seplat. Click here for more.

Yuletide-induced demand jacks up food prices

While the impact of border closure may appear to be waning, festive-induced demand took a toll on food prices, as the consumer price index, (CPI) which measures inflation increased by 11.85 percent (year-on-year) in November 2019. Click here for more.

Hyundai to set up car plant in Nigeria

Hyundai Engineering Company Limited said on Tuesday that it was on the verge of setting up a car plant in Nigeria. The South Korean firm also said it would invest in the rehabilitation of the country’s petroleum refineries. Click here for more.

Nigerian Cocoa beats competitors, to earn N220.5 billion in 2019

Nigeria seems to be leading other West African countries in earnings made from the exportation of cocoa. A recent data indicates traders in the country earned about N220.5 billion as proceeds from sale in 2019. Click here for more.