Nigeria To Borrow N803b In Two Months, Forecloses Eurobond Debt
From now till December 31, 2019, Nigeria will raise its domestic debt profile by N802. 82 billion to support the 2019 budget implementation which would elapse in barely 64 days, the Debt Management Office (DMO) has said. Click here for more.
NNPC Pledges to Deepen Reforms in Downstream Sector
The Nigerian National Petroleum Corporation (NNPC) has reiterated its commitment to entrench downstream competitiveness using innovation and information technology. Click here for more.
FG To Establish 774 Farmers’ Service Centres
The Federal Government is to establish 774 service centres for farmers across the country, the Minister of Agriculture and Rural Development, Sabo Nanono, has said. Nanono said farmers would access improved seeds and other farm inputs from the centres. Click here for more.
FG owes DisCos over N500 billion in electricity Subsidy – PwC
The Federal Government owes the 11 Electricity Distribution Companies (DisCos) in Nigeria over N500 billion in what is described as tariff shortfall from electricity subsidy. This is disclosed in a recently published white paper by PwC titled, ‘Solving the liquidity crunch in the Nigeria Power Sector’. Click here for more.
Investors Gain N17.39bn As NSEASI Inches Up By 0.14% To Open The Week Positive
Equities market closed today on a positive note, as NSEASI appreciated by +0.14% to close at 26,384.45 points as against -0.03% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -16.05%. Click here for more.
Manufacturing PMI Stands at 58.2% in October 2019 from 57.7% in September 2019
The October 2019 PMI survey was conducted by the Statistics Department of the Central Bank of Nigeria during the period October 7-11, 2019. The respondents were purchasing and supply executives of manufacturing and non-manufacturing. Click here for more.
Capital market development and need for fiscal incentives
Capital markets, globally, are an integral part of the financial system, providing efficient delivery mechanisms for savings mobilization and allocations, risk and liquidity management and corporate governance. Click here for more.
Oando Posts N13bn Q3 Profit
Oando Plc has announced its unaudited results for the third quarter ended September 2019, which showed that its profit after tax increased by 26 per cent to N13.1 billion, up from the N10.4 billion recorded in same period of 2018. Click here for more.
5 implications of big decline in T-bills trading activity
It is no longer news that the Central Bank of Nigeria (CBN) has restricted individuals and Nigeria’s corporates from participating in both primary and secondary markets of its Open Market Operation (OMO) window, as it continues in its quest to boost credit flow to the real sector of the Nigerian economy. Click here for more.
Buy Nigeria-made goods –CBN
The Central Bank of Nigeria on Monday called on Nigerians to patronise home-made goods in order to contribute to the growth of the nation’s economy. The CBN also said that consuming only foreign goods would only help in developing the countries where such goods were manufactured to the detriment of Nigeria’s economic growth. Click here for more.
Warri, Kaduna refineries to be repaired in 2020
The Minister of State for Petroleum Resources, Chief Timipre Sylva, has said Warri and Kaduna refineries will be revamped in the first half of next year. Sylva said on Monday in Lagos that the rehabilitation of Port Harcourt refinery was ongoing. Click here for more.
Foreign Airlines Reap $700m from Ticket Sales in Eight Months
Following the improvement in the Nigerian economy after the recession that hit the country, foreign airlines operating in the country sold tickets worth $700 million as at the end of August 2019, according to figures obtained from the International Air Transport Association (IATA). Click here for more.