Nigeria in 1min: Economic, Business and Financial Headlines – 260118


January 26, 2018 7:10 AM / Proshare News 

Africa to witness economic pickup in 2018 - UN - Africa’s economy is expected to grow 3.5 per cent in 2018, an increase of 0.3 percentage points from 2017, a UN official said Thursday. Source Daily Trust Read More 

Mining: Fed Govt to spend N20b on exploration
- The Federal Government  plans to spend N20b more on data exploration, the Minister of Mines and Steel Development Dr Kayode Fayemi has said. Source THE NATION Read More 

Insufficient data, weak policy implementation major problems of mining sector – Fayemi -
The Minister of Mining and Steel Development, Kayode Fayemi, has identified insufficient data and weak implementation of mining laws at both federal and state levels as the key challenges bedevilling the sector. Source Daily Trust Read More 

Nigeria Can't Rely on Rising Oil Prices, Finance Minister Says
- Africa’s top oil producer is learning to ignore crude prices, Nigeria’s Finance Minister Kemi Adeosun said. Source Bloomberg Read More 

159 power equipment containers stranded at seaports – TCN
- About 159 power equipment containers of various power equipment abandoned by contractors are still stranded at various seaports across the country, the Transmission Company of Nigeria has said. Source Punch Read More 

Govt’s revenue drive’ll put pressure on industrialists – MAN
- The Manufacturers Association of Nigeria has said that the expected focus on electioneering and quest for increase in the Internally Generated Revenue by regulatory agencies may lower concentration on the economy and put pressure on the manufacturing sector. Source Punch Read More

Banks lack structure to fund small businesses – Kayode
- Banks are not properly structured to fund small and medium-sized businesses and this has created “a weak link” between governments’ effort to support enterprises struggling financially and the attainment of the desired results. Source Daily Trust Read More 

Proshare Nigeria Pvt. Ltd.

Exposure of Proposed New Rules on Direct Cash Settlement and Sundry Amendments - The following CMHC Rules were exposed on January 9, 2017. However, owing to the comments received from stakeholders and further review of the proposal, there is a need to re-expose the Rules to reflect the new amendments for the information of the public. Source Proshare Read More 

Proshare Nigeria Pvt. Ltd.

Nigerian Stock Market Dips by -0.99% to Sustain Negative Market Sentiment - Equities market closed today on a negative note, as NSEASI depreciated by -0.99% to close at 43,529.06. basis points as against -0.96% depreciation recorded previously.  Source Proshare Read More 

Tax Reform Creates Near-term Credit Pressure for U.S. Utilities
- The Tax Cuts and Jobs Act signed into law on Dec. 22, 2017 has negative credit implications for U.S. regulated utilities and utility holding companies over the short-to-medium term, according to Fitch Ratings. Source Proshare Read More 

Nigeria Plans $2.5 Billion Eurobond Sale in First Quarter
- Nigeria may sell $2.5 billion of Eurobonds in the first quarter to refinance domestic debt and wants to start talks with JPMorgan Chase & Co. about being reinstated in its local-currency emerging-market bond index, according to a government official. Source Bloomberg Read More 

NNPC’s Operating Deficit Fell Sharply From N2.8bn the Previous Month to N407m -
In October the NNPC’s operating deficit fell sharply from N2.8bn the previous month to N407m (US$1.3m). Before central costs and ventures, a profit from production (N16.9bn) covered the losses from refineries (N7.8bn) and retail/marketing (N1.6bn). Source Proshare Read More 

Nigeria to pump additional 200,000 BD of crude with Total’s new ship
- A gigantic oil tanker arrived in Nigeria as part of a multi-billion dollar project that should allow one of Africa’s biggest crude producers to pump out an additional 200,000 barrels a day. Source VAnguard Read More 

OPEC Drives Oil Prices Back Up
- In today's newsletter, we will take a quick look at some of the critical figures and data in the energy markets this week. Source Proshare Read More 

Oil Price Volatility Is a Feature of Commodity Markets
- With oil prices above $70pb, a 36-month high, policy makers in Nigeria are likely to be thinking of reviewing budgetary spending upwards and looking forward to a stronger naira. Source Proshare Read More 

Oil dips as dollar halts slide, short-term demand outlook weakens
- Oil prices fell on Friday as the U.S. dollar halted its slide and as crude market fundamentals are expected to weaken in the near future. Source Reuters Read More 

Kuwait Cuts Target for Overseas Oil, Gas Output on Price Slump
- Kuwait Foreign Petroleum Exploration Co. reduced its output target for oil and natural gas due to the drop in crude prices that started in 2014, Chief Executive Officer Sheikh Nawaf Saud Al-Sabah said. Source Bloomberg Read More 

Oil's Heavy Hitters Line Up to Dive Into Mexico's Deep Waters
- If you’re a super-major oil explorer, Mexico says it’s got a bargain for you. Source Bloomberg Read More 

Governors protest NNPC non-remittance of 5-year cash call into JVC Account
- The 36 governors of the federation on the platform of  Nigeria Governors’ Forum (NGF) have accused the Nigerian National Petroleum Corporation (NNPC) of failure to remit to the Federation Account the Joint Venture Cash Call for five years. Source THE SUN Read More 

Electricity: Customers owe AEDC N50bn
- Electricity customers in Niger region owe Abuja Electricity Distribution Company Limited N49.58 billion in the last three years, the Managing Director/CEO of the company, Engr. Ernest Mupwaya, has said. Source Daily Trust Read More 

Proshare Nigeria Pvt. Ltd.

Buhari To Appoint Edward Lametek Adamu as Deputy Governor of CBN - TheWill is reporting that Edward Lametek Adamu, Director of Human Resources at the Central Bank of Nigeria (CBN) will be the new Deputy Governor of the CBN. Source Proshare Read More 

FG orders security agencies to monitor social media posts of ‘prominent Nigerians’
- The federal government has directed security agencies to tackle the propagation of hate speech, especially through social media Source THE CABLE Read More 

The Anxious Optimist in the Corner Office - PwC’s 21st CEO Survey
- The 21st PwC CEO survey launched on 22 January 2018 at the World Economic Forum Annual Meeting in Davos. Source Proshare Read More 

Focusing on the Last Mile: A Case for Shared Prosperity in Financial Inclusion
- As we begin another year, what immediately comes to mind when thinking about financial inclusion in Nigeria is that access to mobile telecommunications has reached over 125 million Nigerians and still growing with inadequate harnessing of the full potentials it provides. Source Proshare Read More 

Ivory Coast mining sector turnover rose 11.5 pct in 2017
- Ivory Coast’s mining sector turnover rose by 11.5 percent in 2017, an increase achieved mainly via exports of gold, manganese and nickel, the government spokesman said on Wednesday. Source Reuters Read More         

2,000% Stock Gains Vanish From Hong Kong
- The world’s most volatile new stocks are vanishing from Hong Kong after regulators tightened oversight of the city’s small-cap Growth Enterprise Market. Source Bloomberg Read More 

How a $1.5 Trillion Aramco IPO Could Transform Global Stocks -
Money managers in the Middle East are confident the sale of government-owned Saudi Arabian Oil Co. this year will shake up the global stock market with a record initial public offering that gives the world’s biggest company a valuation of about $1.5 trillion. Source Bloomberg Read More 

Mauritius business confidence jumps to its highest in Q4 2017
- Business confidence on the Indian Ocean island of Mauritius rose to a record high in the last quarter of 2017, a survey of leading private companies showed on Thursday. Source CNBC Read More 

Proshare Nigeria Pvt. Ltd.

#FintechConf18: Shittu, Onu commit to enabling environment for Fintech  - Nigeria’s key Ministers for Science and Technology Dr Ogbonnaya Onu and Information and Communications Technology (ICT) Barrister Adebayo Shittu have committed to pushing for an enabling policy environment that will facilitate the growth of Fintech in the country. Source Proshare Read More 

Capital Markets: How Collaboration With FinTech Can Transform Investment Banking
- Driven by a powerful blend of innovative startups and major technology players, the global FinTech industry is growing apace, using technology innovation to capture market share from incumbents in many areas of financial services. Source Proshare Read More 

Lagos Just Got Smaller -
The Nigeria’s e-commerce industry is estimated to be worth over $12 billion with over 300, 000 daily orders via various online platforms. However, many online businesses in Nigeria are going through ‘Hell on Earth’ because of poor, unreliable and in some cases non-availability of instant delivery services. Source Proshare Read More 

Central Bank in Africa's Top Bitcoin Market Warns of ‘Gamble’ -
The central-bank governor of Nigeria, where bitcoin trading grew the most in Africa last year, said investing in the cryptocurrency is a “gamble” and hinted it may have to be regulated. Source Bloomberg Read More 

MTN IPO valuation to jump as stocks hit new highs -
The recent new highs reached by Nigeria’s stock market is making advisers to the proposed MTN Nigeria listing to review their valuations ahead of the expected pricing of the shares. The Nigerian stock market rose by 42 percent last year and it has achieved about 15 percent growth year to date. Source BUISINESSDAY Read More 

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

Related News