New finance law’ll take effect Jan 2 – FG

The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, has said the Finance Bill will become effective on January 2, 2020. Ahmed, while speaking during a panel session at the PwC Executive Session on Finance Bill and Tax Strategy. Click here for more.

No Border Reopening, Until Benin, Others Respect Protocols – FG

The Federal Government admitted on Wednesday that its temporary policy to close land borders was responsible for the current rising inflation in the country. But it still defended the closure, insisting that it would remain in place until the country’s neighbours learnt to respect trade protocols. Click here for more.

40% of Nigeria’s national budget must be voted to capital expenditure – Gbajabiamila 

A bill to ensure that 40% of Nigeria’s national budget is allocated to capital expenditure in the next 10 years has passed second reading at the House of Representatives. Click here for more.

Nigeria Vows to Keep Firm Grip on Naira Even as Reserves Bleed

Nigeria’s central bank is in no mood to loosen its grip on the naira. Governor Godwin Emefiele said there was no reason to fret over a fall in foreign reserves to their lowest level in almost two years and vowed to continue defending the currency. Click here for more.

Investors Lose N44.99bn As NSEASI Dips Further By -0.35%; YTD Return Stands At -14.76%

Equities market closed yesterday on a negative note, as NSEASI depreciated by -0.35% to close at 26,790.10 points as against -0.56% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -14.76%. Click here for more.

Manufacturing PMI Stands at 59.3% in November 2019 from 58.2% in October 2019

The November 2019 PMI survey was conducted by the Statistics Department of the Central Bank of Nigeria during the period November 12-18, 2019. Click here for more.

CBN begins dialogue with industry stakeholders over USSD charges 

The Central Bank of Nigeria (CBN) has disclosed that it is in talks with telecommunications companies (telcos) and the Nigerian Communication Commission (NCC) for new Unstructured Supplementary Service Data (USSD) charges. Click here for more.

Nigeria’s low per capita growth driven by insufficient policy adjustment, infrastructure gap – IMF

The International Monetary Fund (IMF) on Wednesday said Nigeria’s low per capita growth is driven by insufficient policy adjustment, a large infrastructure gap, low private investment, and banking sector vulnerabilities. This is coming as the Washington-based Fund projected Nigeria’s economy to expand at 2.5 percent in 2020, up from 2.3 percent in 2019. Click here for more.

Seplat settles dispute with Eland Oil stakeholders over acquisition

The issues arising from the acquisition of Eland Oil & Gas Plc by Seplat Petroleum Development Company Plc has been reportedly settled amicably. The Nation reported that stakeholders in Seplat, as well as some aggrieved stakeholders in Eland, have concluded talks, making the transaction acceptable to all stakeholders. Click here for more.

Experts In Fresh Move To Address Oil, Gas Woes

Lingering challenges bedeviling Nigeria’s oil and gas sector and the wobbling economy may receive fresh insight if the Federal Government adopts a new solution being canvassed by stakeholders. Click here for more.

NPA, Port of Antwerp ink deal towards operational efficiency

The Nigerian Ports Authority (NPA), and the Port of Antwerp, Belgium, have signed a Memorandum of Understanding (MoU), towards operational efficiency in line with the desire to deepen the mutual beneficial relationship existing between the two Ports. Click here for more.

Top Kenyan Banks Have Stronger Cost-to-Income Ratios than Nigerian Banks – Moody’s

Kenya’s three largest rated banks have stronger cost-to-income ratios than their Nigerian counterparts, despite their higher retail overhead costs, Moody’s Investors Service have stated in a peer comparison report. Click here for more.