Nigeria in 1min: Economic, Business and Financial Headlines - 090120


Thursday, January 9, 2019 / 7:20 AM / By News Aggregator / Header Image Credit: WebTV


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Is The Oil Price Rally Already Over? - OIR 080120 - Oil prices fell back late Monday and in early trading on Tuesday. Goldman Sachs had predicted that the rally following the prospect of war in the Middle East would be temporary unless oil supplies were actually disrupted. Source Tom Kool of OilPrice Read More 

Uncertainty About Iran To Put Pressure On Grain Prices In Near Term - Nigerians celebrated the spike in oil price to above $70pb with the assassination of the Iranian leader. The euphoria was however short lived as Brent is now at $68pb and trending lower. Source FDC Read More 

US, Iran Hostilities: Chevron Pulls Out Staff From Iraq As Crude Oil Price Drops - American Oil Giant Chevron announced that it is withdrawing its staff from Iraq to guarantee their safety amid the hostilities between the United States of America and Iran, since the killing of the Commander of the Revolutionary Guards Overseas Operations Gen. Qassem Soleimani. Source WebTV Read More 

Meristem Research 2020 Outlook - Finding Alpha Amidst The Haze - Global growth is set to remain fragile in 2020 as the trade tension between the two largest economies in the world weighs on demand, manufacturing, and private investments across the major economies. Monetary policies across these economies have become accommodative amidst low inflation rate and weaker economic output levels.  Source Meristem Research Read More 

Economic Associate's Conference on 'Nigeria's Economic Outlook' To Hold On Feb 19, 2020 - EA's conferences provide the forum for top economic decision-makers to gain clarity on the main global and national economic trends, latest outcomes and immediate outlook. They also get better informed on the courses of actions that would guarantee desired outcomes in the future. Source Economic Associates Read More 

World Bank Puts Nigeria's Growth At 2.1 Per Cent In 2020 -  The World Bank Group, yesterday, raised Nigeria's growth expectations in 2020 to 2.1 per cent, describing it as an "edge up", a development that confirms the country's continued stay in sluggish economic path for another calendar year. Source Guardian Read More 

Nigeria's Oil Sector Faces Slowdown Amid Looming Divestment - The nation's oil and gas sector may not get a much-needed revamp this year as a number of international oil companies operating in the country look set to divest more assets amid a lack of reforms. Source Punch Read More 


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CBN Retains LDR At 65%, Warns Against Violation - The Central Bank of Nigeria has retained the Loan to Deposit Ratio for the banking sector at 65 per cent. The apex bank said this in a circular issued to the Deposit Money Banks dated January 7, 2020. Source Punch Read More


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Investors Gain N470.89bn; NSEASI Inches Up By 3.54%; Closes Above 38,000pts - Equities market closed today on a positive note, as NSEASI appreciated by +3.54% to close at 28,562.48 points as against +0.90% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +6.41%. Source Proshare Read More

ACCESS Announces Suspension Of Closed Period; To Announce New Date of Commencement - We refer to our Notice to the Nigerian Stock Exchange ("the Exchange") dated December 30, 2019 wherein we announced a Closed Period in respect of transactions on the shares of Access Bank Plc ("the Bank") from January 1, 2020 and January 29,2020 as the date of Board Meeting to consider and approve the Group's Audited Financial Statements for the Financial Year Ended December 31, 2019. Source NSE Read More 

NSE CEO Set to Review 2019 Market Performance and Give Outlook for 2020 - The Nigerian Stock Exchange (NSE) will hold its annual 2019 Market Recap & 2020 Outlook on Monday, 13 January 2020 at the Stock Exchange House, Marina, Lagos. Source NSE Read More


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Airports' Passenger Traffic Hits 8.48m in Six Months - Air passenger traffic in Nigeria rose by 12 per cent to 8,487,698 as at the end of June, 2019, up from the 7,569,695 recorded in the comparable period of 2018, according to the latest air traffic data released by the Federal Airports Authority of Nigeria (FAAN). Source Thisday Read More 

NNPC Imported 18bn Litres Of PMS In 2019 - PPPRA - A breakdown of the import figures shows that the Nigerian National Petroleum Corporation (NNPC) was responsible for 99.61 per cent of the total 19,175,737,226 litres of petrol that was imported while Major Oil Marketers of Nigeria (MOMAN) imported 0.39 per cent in 2019. Source Dailytrust Read More 

OPEC Allays Fears on Safety of Iraqi Oil Facilities - The Organisation of Petroleum Exporting Countries (OPEC) wednesday gave an assurance that Iraqi oil facilities were secured and that the country's production was continuing, after Iran carried out overnight attacks that targeted the United States troops in Iraq. Source Thisday Read More 

Lagos Introduces Agripreneurship Programme - The Lagos State government said it has introduced the Lagos Agripreneurship Programme (LAP) under its agriculture-based Youth Empowerment Scheme (Agric-YES). The initiative was to further the state's objective of training 15,000 youths and women in the various agricultural value chains by year 2023. Source Thisday Read More 

Asian Shares Erase Losses As Mideast Tensions Ease, Oil Ticks Up -  Asian stocks rebounded on Thursday and oil edged up as the United States and Iran backed away from the brink of further conflict in the Middle East and investors unwound safety plays. Source Reuters Read More


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Telcos Defy Minister, Say Voicemail Regulation Not Required - Telecommunications operators in the country have insisted that the voicemail service on mobile telephone lines does not require policy or regulatory intervention from the Federal Government or its agencies. The assertion by the telcos, under the aegis of Association of Licensed Telecoms Operators of Nigeria, followed an order issued by the Minister of Communications and Digital Economy, Dr Isa Pantami. Source Punch Read More


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KPMG SME Report: Firstbank Named Biggest Mover In 2019 - First Bank of Nigeria Limited is one of the banks that is investing and supporting SMEs. Following research by the bank over the years, it identified these seven strategic pillars that are essential to the sustainability and growth of the SMEs. These include access to infrastructure, access to talent, capacity building, policy and regulation, access to resources, access to market as well as access to finance. Source Collins Nweze Read More


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