FG Won’t Review 2020 Budget Benchmark Price over Saudi Oil Facility Attacks, Says Ahmed

The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, has declared that the federal government is not in a hurry to embark on an upward adjustment in the benchmark price of oil for the proposed 2020 budget. Click here for more.

Minister Blames Stagnant Growth On Unimplemented NESG Reports

The Minister of Finance and Budget, Mrs. Zainab Shamsuna Ahmed, yesterday regretted that the Federal Government had been selective in the implementation of the recommendations of the Nigerian Economic Summit Group (NESG). Click here for more.

FG sets deadline to clampdown on unregistered sim cards

Nigeria’s Communication Minister, Dr Isa Ali Ibrahim Pantami has set September 25th as the deadline for registration of all sim cards in the country, after which  pre-registered or partially registered sim cards would cease to exist in the country. Click here for more.

Reps to consider IST’s request on expansion of jurisdiction

The House of Representatives has said it will consider the request of the Investment and Securities Tribunal (IST) to expand its jurisdictions to other financial-related cases, as well as more funding to enhance the growth of the tribunal. Click here for more.

Investors Lose N99.63bn As NSEASI Dips By -0.74% To Open The Week Negative

Equities market closed yesterday on a negative note, as NSEASI depreciated by -0.74% to close at 27,574.32 points as against +1.28% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -12.27%. Click here for more.

MTN Nigeria to raise N100 billion through commercial paper 

Telco giant, MTN Nigeria is seeking to raise a N100 billion through Commercial Paper (CP). The Head, Frontier Research at EFG Hermes, Kato Mukuru disclosed this during an interview with CNBC.  Although it’s yet to be officially disclosed, during the interview, Mukuru said he got reliable information from a staff member of the Nigerian Stock Exchange (NSE). Click here for more.

Financial market data gulps $28.5 billion from stakeholders – NSE 

The total global spending by stakeholders on financial market data, analysis and news, has gulped not less than $28.5 billion so far. The Chief Executive Officer (CEO) of the Nigerian Stock Exchange (NSE), Oscar Onyema made this known at the fourth edition of the NSE Market Data Workshop recently held in Lagos. Click here for more.

External reserves lowest in six months, at $42.84bn

The nation’s foreign exchange reserves have declined further, falling to the lowest level since March 12, latest data obtained from the Central Bank of Nigeria on Sunday showed. The external reserves, which rose to a high of $45.18bn on June 10, 2019 from $43.17bn on January 1, dropped to $42.84bn on September 12. Click here for more.

Shell deploys aerial cameras to track spills, crude theft

The Shell Petroleum Development Company of Nigeria Limited (SPDC) said it has deployed high definition (HD) cameras for quick detection and response to crude oil spills from its facilities. The cameras will also help in tracking pipeline vandalism and crude theft from SPDC joint venture assets. Click here for more.

SON Adopts 10 Standards To Enhance Operations In Oil, Gas

Director-General/Chief Executive, SON, Osita Aboloma, who disclosed this during a joint Technical Committee meeting on Oil and Gas/Petroleum and Petro Chemicals event in Lagos, said the standards would impact positively on the industry. Click here for more.

Oil Could Test $80 After Attacks In Saudi Arabia

Oil prices could test the US$80 a barrel Brent Crude price, following the attacks on the Abqaiq facility and the Khurais oil field in Saudi Arabia this weekend, S&P Global Platts Analytics said in a note. Click here for more.