Nigeria’s gas reserves rise to 200.79tcf – DPR
Nigeria’s gas reserves increased by 7.3 per cent from 187 trillion cubic feet (tcf) to 200.79 tcf, according to the Director of Department of Petroleum Resources (DPR), Mordecai Ladan. He stated this at a technical workshop with the theme: “Gas Utilisation in Nigeria: Challenges, Opportunity and Outlook,” organised by Society of Petroleum Engineers (SPE), Lagos branch, in Lagos on Wednesday. Click here for more.
FG, States Grow Debt By N12.27tn In 42 Months
Nigeria’s debt profile rose by N12.27tn between June 2015 and December 31, 2018, investigation has shown. Data obtained from the Debt Management Office on Wednesday showed that the country’s debt profile grew from N12.12tn as of June 30, 2015, to N24.39tn as of December 31, 2018. Click here for more.
MainOne to Invest N25bn in Lagos Broadband Infrastructure
MainOne has disclosed fresh plans tocommit a whopping N25 billion to its Lagos broadband infrastructure project. The initiative was designed to digitise Lagos, through the deployment of 2000 kilometre fibre optic broadband cable that would drive connectivity around all the Local Government Areas (LGAs) of the state. Click here for more.
NSEASI Inches Up By 3.07% To Record Highest Daily Gain In 2019; Closes Above 31,000bpts
Equities market closed today on a positive note, as NSEASI appreciated by 3.07% to close at 31,145.15 points as against 2.88% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -0.91%. Click here for more.
Nigeria must prepare for next global economic crisis – Emefiele
Governor of Central Bank of Nigeria, Godwin Emefiele, on Wednesday, said Nigeria must prepare for the next global economic crisis. Emefiele said this while delivering a lecture titled: ‘Beyond the Global Financial Crisis: Monetary Policy under Global Uncertainty,’ at the University of Benin, Benin, Edo State. Click here for more.
Why Emefiele wants banks restricted from access to bonds and treasury bills
Governor of the Central Bank of Nigeria, Godwin Emefiele, has sought the restriction of banks’ access to government securities such as bonds and treasury bills. Speaking at the recently-held Monetary Policy Committee (MPC) meeting in Abuja, Emefiele said the apex bank needs to initiate policies that will facilitate the restriction. Reason for the restriction. Click here for more.
Investors scramble for N100bn 30-year FGN bond
Investors showed high demand for the May 2019 FGN bond auction held on Wednesday. The Debt Management Office (DMO) offered three instruments for five, 10 and 30-year tenors to the investing public, with a total amount offered of N100 billion. Click here for more.
Why four aviation unions commenced indefinite strike earlier today
The National Union of Air Transport Employees (NUATE), Air Transport Services Senior Staff Association of Nigeria (ATSSSAN), Association of Nigeria Aviation Professionals (ANAP), and the National Association of Aircraft Pilots and Engineers (NAAPE) have commenced a nationwide indefinite strike today. Click here for more.
Next Round Of U.S. Tariffs On China At Least A Month Away: Mnuchin
The United States is at least a month from enacting its proposed tariffs on $300 billion in Chinese imports as it studies the impact on American consumers, U.S. Treasury Secretary Steven Mnuchin said on Wednesday. Click here for more.
Full-Blown Trade War Is Quickly Shifting From Risk to ‘Baseline’
After months of predicting a trade deal between the world’s two largest economies, economists at some of the biggest financial institutions are growing increasingly pessimistic. Goldman Sachs Group Inc., Nomura Holdings Inc. and JPMorgan Chase and Co. Click here for more.