Nigeria, U.S. Trade Volume Hits $5.21 Billion
Nigeria and the United States (U.S.) recorded $5.21 billion bilateral trade between January and August this year. The Consul-General, US Consulate in Lagos, Ms Claire Pierangelo, who spoke during the 2019 International Investment Conference yesterday in Lagos, said the country is full of opportunities. Click here for more.
Nigeria Exports N90.33bn Solid Minerals In Three Years
Solid minerals worth N90.33bn were exported between 2015 and 2017, the latest report by the Nigeria Extractive Industries Transparency Initiative has stated. An analysis of the report also showed that China emerged the biggest importer of Nigeria’s solid minerals in 2017. Click here for more.
Equities Market Closes Positive As NSEASI Inches Up By 0.25%
Equities market closed yesterday on a positive note, as NSEASI appreciated by +0.25% to close at 26,310.77 points as against -0.53% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -16.29%. Click here for more.
CBN rejects N432 billion in failed treasury bills bids
The Central Bank of Nigeria rejected a whopping N432 billion in treasury bills bid following the auction held on Tuesday 30th of October 2019. The CBN only accepted about N132.5 billion against total bids of N565.5 billion. Click here for more.
Dangote Cement to find support on proposed share buyback
Industrial goods giant, Dangote Cement, has announced that its Board of Directors will propose a stock consolidation and share buyback to its shareholders, a move that would shield the undervalued blue-chip from a further dip in the bearish market and provide a good exit for naysayers, experts say. Click here for more.
PoS agents slam N50 charge, operators protest
Agent banking service providers are protesting the introduction of the N50 charge imposed on individual transactions above N1,000 carried out by merchants in the country. Some of them who spoke with The PUNCH correspondent said the volume of electronic payments carried out daily had reduced drastically as a result of the new policy. Click here for more.
Arik not equipped as national carrier, Aviation minister replies AMCON
The Minister of Aviation, Hadi Sirika, has reacted to the call of Assets Management Corporation of Nigeria (AMCON) for Arik Air to be made a national carrier, that the airline does not meet the requirements of a national carrier. Click here for more.
BUA’s Obu Cement, CCNN Set to Merge
BUA Group, one of Africa’s largest conglomerates wednesday announced the consolidation of its cement business comprising the publicly listed two million MTPA Cement Company of Northern Nigeria Plc (CCNN) and six million tonnes per annum (MTPA) Obu Cement Company Plc. Click here for more.
JV assets gulp N1.08tn in seven months – NNPC
The Federal Government, through the Nigerian National Petroleum Corporation, spent a total of N1.08tn ($3.53bn) on joint venture oil and gas assets from January to July this year, latest data from the corporation showed. Click here for more.
US- Africa collaboration targets deeper ties, LNG development
The United States (U.S.), is hoping to deepen ties with many African countries at this year’s Africa Oil Week, by leveraging its Prosper Africa Initiative and energy programme. Last December, the U.S. administration launched its Prosper Africa initiative with the vision to open markets for American businesses. Click here for more.
U.S. Fed Cuts Interest Rates, Signals It Is On Hold
The Federal Reserve on Wednesday cut interest rates for the third time this year to help sustain U.S. growth despite a slowdown in other parts of the world, but signaled there would be no further reductions unless the economy takes a turn for the worse. Click here for more.