Nigeria in 1min: Economic, Business & Financial Headlines - 160817


August 16, 2017 7:10 AM / Proshare News  

Whistleblower: 5000 tips received, N11bn recovered - Adeosun - The Minister of Finance, Kemi Adeosun, has said that the Federal Government recovered N11.6 billion so far from the tips they received since the Whistleblower Policy was launched in December 2016. Source Daily Trust Read More

Niger signs $3.25bn pact on fish production - Niger State Government yesterday signed a Memorandum of Understanding (MoU) with the All States Investment Limited in collaboration with a Chinese firm worth $3.2billion in fishery. Source Daily Trust Read More

Nigeria To Save N300bn Annually From Rice Import - Nigeria will be saving about N300 billion it spends annually on importation of rice as local production of the commodity has now reached 15 million metric tonnes, the federal ministry of Agriculture disclosed yesterday. Source Leadership Read More

Over 70% of Nigeria’s printing jobs executed overseas - In spite of the enormous quality and growing  printing industry in Nigeria, over 70 percent of printing jobs by Nigerians are executed overseas. Source BUSINESSDAY Read More

NSEASI Dips Further by -2.25% as Market CAP Closes Below N13trn Mark - Equities market closed today on a negative note, as NSE ASI depreciated by -2.25% to close at 37,096.60 basis points as against -0.65% depreciation recorded previously. Source Proshare Read More   

CBN Injects $364m into Inter-Bank Forex Market - The Central Bank of Nigeria (CBN) on Tuesday, August 15, 2017, intervened in the Inter-Bank Foreign Exchange Market to the tune of $364million in a bid to sustain liquidity in the market. Source Proshare Read More

A welcome Initiative on Debt Restructuring - Last week the FGN announced plans for a restructuring of its debt obligations and revealed that the Federal Executive Council had approved the Medium Term Expenditure Framework 2018-2020.  Source Proshare Read More

UAC of Nigeria Plc - The Fly in FMCG Ointment? - Despite the bull run across naira equities, which supported strong rally in the FMCG space (YTD, Food: 45%, HPC: +45%, Brewers: +30%), the share price of UACN continues to remain sticky with sentiments largely sour. Source Proshare Read More  

Dangote to sell N200b shares in block divestment - Dangote Industries Limited (DIL), the majority core investor in Dangote Cement Plc, plans to sell shares valued at more than N200 billion in a partial divestment that will widen the float for Dangote Cement. Source THE NATION Read More 

Invest in FGN Monthly Bond Auction - August 2017 - The Central Bank of Nigeria on the authority of The Debt Management Office on behalf of the Federal Government Of Nigeria Offers for Subscription by Auction and is authorized to receive applications. Source Proshare Read More  

DMO Raises N5.2bn From FGN Savings Bond In 5 Months - The Debt Management Office (DMO) has in the past five months raised N5.15 billion through federal government’s savings bond which it launched in March this year. Source Leadership Read More 

FG secures $1.5bn fund for power transmission - The Transmission Company of Nigeria (TCN) said it has secured $1.55 billion from multilateral agencies to revive some critical projects and expand the transmission grid. Source Daily Trust Read More 

Restructuring will place NNPC on growth path – Baru - The ongoing reforms of the Nigerian National Petroleum Corporation (NNPC) will place the corporation on a long-term growth trajectory for the benefit of all stakeholders, NNPC Group Managing Director, Dr. Maikanti Baru, said on Tuesday. Source Daily Trust Read More 

FG looks beyond crude oil era - Minister - The Federal Government has begun preparation for a post crude oil era as the country is now looking beyond sale of black gold as a source of revenue, a top official said. Source Daily Trust Read More 

Compliance audit: NPDC, BPE, Total among 15 lowest performers - The Nigeria Extractive Industries Transparency Initiative on Tuesday announced that its ongoing independent audit of the oil and gas industry covering 2015 recorded 94 per cent compliance by companies and relevant government agencies Source Punch Read More 

Ecobank Unveils “World Class” Premier Banking Lounge in Port Harcourt - Ecobank Nigeria has unveiled a world class Lounge in Port Harcourt for its Premier Banking customers in the South South Region of the country. Source Proshare Read More 

Tunisia's economy grew 1.9 pct in first half of 2017: statistics institute - Tunisia's economy grew by 1.9 percent in the first half of 2017, up from 1 percent in the same period last year, the national statistics institute said on Tuesday. Source Reuters Read More 

Mozambique's economy grows 3.0 percent in Q2: official data - Mozambique economy grew 3.0 percent year-on-year in the second quarter, the National Statistics Institute said on Tuesday, compared with a 3.9 percent expansion in the first quarter. Source Reuters Read More

Fitch affirms AfDB’s triple ‘A’ rating - Fitch Ratings has affirmed the African Development Bank’s (AfDB) Long-Term Issuer Default Rating (IDR) at ‘AAA’ with a Stable Outlook. Source THE NATION Read More

Botswana's unemployment rate drops to 17.6 pct in 2016 - Botswana's unemployment rate declined to 17.6 percent in 2016 from 19.9 percent in 2011, official data showed on Tuesday. Source Reuters Read More 

China Reclaims Spot as World's Biggest Holder of Treasuries - China reclaimed its position as the top foreign owner of U.S. Treasuries after increasing its holdings for the fifth straight month. Source Bloomberg Read More 

Canadian Home Prices Tumble the Most Since 2008 Recession - Canada’s benchmark home price fell by the most in nearly a decade last month as Toronto led a fourth straight decline in sales. Source Bloomberg Read More 

OPEC's Oil-Glut Fight Could Last Years - When OPEC and Russia first embarked on their strategy to clear a global oil glut, it was expected to succeed within six months. It now looks like the battle could last for years. Source Bloomberg Read More 

Libya's Biggest Oil Field Is Reopening For Business - Libya’s biggest oil field, Sharara, is increasing production and the Zueitina port is again allowing tankers to load, paving the way for the OPEC nation’s crude output to rebound. Source Bloomberg Read More 

Apple Raises C$2.5 Billion in Debut Canadian Maple Bond Sale - Apple Inc. sold C$2.5 billion ($1.96 billion) of seven-year bonds in Canada to fund stock buybacks and dividends in the biggest single debt offering by a foreign issuer in Canadian dollars. Source Bloomberg Read More 

Bitcoin Is Literally Soaring Into Space After Rocket-Like Surge - Space-like adjectives are often used to describe bitcoin’s stratospheric price rise. Now there may be some truth in those analogies. Source Bloomberg Read More 


Telecoms sector FDI hits $68b, says NCC - The telecoms sector has attracted $68billion   to the economy in Foreign Direct Investment (FDI), the Nigerian Communications Commission (NCC) said yesterday in Lagos.Source THE NATION Read More   

NCC audits telecom firms’ financial status - The Nigerian Communications Commission has commenced a financial health check on major telecommunications operators in the country. Source Punch Read More

Workforce of the Future: The Competing Forces Shaping 2030 - We are living through a fundamental transformation in the way we work. Automation and ‘thinking machines’ are replacing human tasks and jobs, and changing the skills that organisations are looking for in their people. Source Proshare Read More    





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