Nigeria Cuts Revenue Target as Goals Missed for Years

Nigeria lowered its revenue target for 2019 after missing its goals by wider margins in each of the past three years. Higher crude prices and plans to sell stakes in joint ventures with international oil companies could boost income and reduce a shortfall that has seen the government of Africa’s most-populous nation borrow more to meet its obligations. Click here for more.

20 Nigerian Oil Cargoes Remain Unsold Despite Price Cut

About 15 to 20 cargoes of Nigerian crude oil from the April loading programme remain unsold despite the cut in selling prices. Some of those cargoes are expected to be absorbed by oil majors’ own refining systems, according to Reuters. Click here for more.

Nigeria, others raise over $17bn from bonds – World Bank

Nigeria, Kenya, Côte d’Ivoire and other sub-Saharan African countries raised over $17bn from bond issuances in 2018 in what the World Bank described as a landmark development. Click here for more.

UN backs AfDB’s $10bn power initiative

The United Nations has thrown its weight behind the quest of the African Development Bank to provide electricity to 250 million people in Africa through its ‘ Desert to Power’ electricity initiative. Click here for more.

Investors Interest Soars As Nigeria Gets $91bn Investment In Q1 2019

There are indications that foreign investors are showing more interest in Nigeria as the country recorded $91bn investment announcements in first quarter 2019, Daily Trust findings have shown. Click here for more.

SEC Urges Beneficiaries To Inherit Deceased Unclaimed Dividend

To further reduce the quantum of unclaimed dividend in the Nigerian capital market, the Securities and Exchange Commission (SEC), has urged beneficiaries of deceased investors to step up efforts to claim the monies. Click here for more.

N617.7b Assets Open New Funding Options For NSIA

Infrastructure funding and building of savings base for the economy are crucial in achieving sustained economic growth . That explans why the Federal Government, set up the Nigeria Sovereign Investment Authority (NSIA) to help boost savings and bridge infrastruture gap. Click here for more.

Banks Paid N8.51bn As IT Levy In 2018

Eleven Nigerian banks paid about N8.51bn Information Technology-related levies to the government in 2018, the audited financial reports of the banks showed. This is an increase of N1.34bn over the N7.17bn IT levy the 11 banks paid to the government in the corresponding period in 2017. Click here for more.

Nigeria, Kenya Lead As African Tech Startups Attract $1.2bn

Kenya, Nigeria and South Africa received 78 per cent of the total funding of $1.163 billion for Africa’s technology startups last year confirming the attractiveness of African entrepreneurs and their ability to transform the continent into a global power house. Click here for more.

Collaboration, Investment Will Drive AI Technology in Africa

Counting on the gains of Artificial Intelligence (AI) technology in nation building and development, participants at the just concluded AI forum in Dubai, United Arab Emirates (UAE), have insisted that effective collaboration between government and the private sector will speed up development among African countries. Click here for more.

U.S. Fed Sees No Strong Case For Hiking Or Cutting Rates

The U.S. Federal Reserve on Wednesday held interest rates steady and signaled little appetite to adjust them any time soon, taking heart in continued job gains and economic growth and the likelihood that weak inflation will edge higher. Click here for more.