Nigeria in 1min: Economic, Business and Financial Headlines – 271217


December 27, 2017 7:40 AM / Proshare News 


Gombe’s N104.9 billion budget for future security, says Dankwambo - Governor Ibrahim Dankwambo of Gombe State has explained that the sum of N104.9b estimate contained in the 2018 budget of the state is aimed at securing the future social wellbeing of Gombe people. Source Guardian Read More 

Nigeria spends N157bn on vehicles, aircraft parts, vessels importation - NIGERIA spent a total of N157 billion on the importation of vehicles, aircrafts parts and vessels in the third quarter of 2017. Source Vanguard Read More 

ITFC, Afreximbank support African trade with $100m, 50m Euros - The International Islamic Trade Finance Corporation (ITFC), member of the Islamic Development Bank (IsDB) Group, and the African Export-Import Bank (Afreximbank), a multilateral financial institution, have signed a $100 million and a 50 million Euros agreements to support financing exports among African countries and the rest of the world. Source THE NATION Read More 

Remittances dip 6.1% to $33b over slow economic growth - World Bank Statistics have shown that remittances to African countries have declined by an estimated 6.1 per cent to $33 billion. Source THE NATION Read More 

Nigeria’s economy built on weak production arrangement – Aregbesola - Osun State Governor, Mr. Rauf Aregbesola, has said Nigeria cannot develop now because its economy is built on a very weak production arrangement. Source Punch Read More 

Infrastructural development depends on government guarantees – DMO - The issuance of guarantees to lenders by government for infrastructure projects is very critical to the development of the country’s infrastructural base, the Debt Management Office has said. Source Punch Read More 

Nigeria’s fragile economic recovery to take a hit from fuel scarcity - The fragile recovery of the Nigerian economy will suffer from the current fuel scarcity plaguing the country. In a series of tweets on how the current fuel scarcity will impact on current economic growth, Yemi Kale, the Chief Statistician of the federation noted that “hours spent looking for fuel will be negative for GDP growth. Source BUSINESSDAY Read More 

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SEC, IST partner to curb market Infractions - The Securities and Exchange Commission (SEC) has expressed readiness to partner with relevant bodies in its quest to ensure zero tolerance on infractions in Nigeria’s capital market and to ensure that perpetrators of fraudulent acts are brought to book. Source Proshare Read More 


45% of our transactions are on e-channels - First Bank MD - Group Managing Director of First Bank Plc, Dr. Adesola Kazeem Adeduntan, has been steering affairs at the bank for over two years now, after its challenge regarding non-performing loans. In this interview, the GMD shares the bank management’s effort to reposition it for greater performance, and the giant strides it has recorded in its mobile banking platform. Source Daily Trust Read More 

Fuel Scarcity: DAPPMA denies involvement in hoarding petroleum products  - The Depot and Petroleum Products Marketers Association (DAPPMA) has claimed that the Nigerian National Petroleum Corporation (NNPC) lied to Nigerians on the ongoing nationwide shortage of Premium Motor Spirit (PMS) or petrol. Source Proshare Read More 

Toyota eyes electric vehicle leadership with N10bn investment - Toyota says it is ready to spend $10bn to lead the electric vehicle production and sale globally from next year. Source Punch Read More 

Updated: NNPC incurs N9.4 bn petrol subsidy in seven days  - The Nigerian National Petroleum Corporation (NNPC) has incurred about N9.4billion in subsidy since Tuesday last week going by its own admission that it has ramped up petrol import by 52million litres daily to tackle an embarrassing fuel scarcity that marred the holidays. Source BUSINESSDAY Read More 

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George Weah Elected The New Liberia President  - The former World Footballer of the Year become the first famous player in the world to clinch the high office of a country after retiring from the game. Source Reuters Read More 

Sudan to devalue pound currency to 18 per dollar in January -minister - Sudan is to devalue its currency to 18 Sudanese pounds per dollar in January from the current exchange rate of 6.7, the finance minister said on Tuesday. Source Reuters Read More 

World's Wealthiest Became $1 Trillion Richer in 2017 - The richest people on earth became $1 trillion richer in 2017, more than four times last year’s gain, as stock markets shrugged off economic, social and political divisions to reach record highs. Source Bloomberg Read More 

Oil Trades Near Highest Since Mid-2015 on Libya Pipeline Blast - Oil traded near the highest close in more than two years after an explosion at a pipeline carrying crude to Libya’s biggest export terminal curbed the OPEC nation’s production. Source Bloomberg Read More 

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Spotlight: The Nigerian Film Industry  - The Nigerian Film Industry (Nollywood) is globally recognised as the second largest film producer in the world.  The Industry is a significant part of the Arts, Entertainment and Recreation Sector which  contributed 2.3%  (NGN239biliion) to Nigeria’s Gross Domestic Product (GDP) in 2016. Source Proshare Read More 


8 Transformational Martech Trends With Use Cases, 2018 - Today’s marketers need to get better and faster at reacting to changes in consumer behaviour and responding in real time. Our comprehensive guide to winning the marketing battle in 2018 brings together a list of result-focused Martech trends that are immediately actionable. Because, the time to act is now. Source Proshare Read More 

Bitcoin's Rebound Eases as Cryptocurrency Watchers Debate Value - Bitcoin’s rally took a pause Wednesday, suggesting it isn’t about to make another run at its record reached last week. Source Bloomberg Read More 

Only 30% MDAs Have Functional Websites – FG - The federal government has disclosed that less than 30% of Ministries, Departments and Agencies (MDAs) have functional websites and less than 25% have functional telephone numbers and e-mail addresses. Source Vanguard Read More 

Nigeria .ng domains hit 100,973 - The  registered domains in the .ng domain zone of the Nigeria Internet Registration Association has hit 100,973. Source THE SUN Read More 

53% Nigerians don’t have access to Internet – Huawei - Technology solutions provider, Huawei disclosed recently that 53 per cent of Nigerians are yet to have access to the Internet. Source THE SUN Read More 

WhatsApp will ditch Blackberry OS and Windows Phone by New Year's - WhatsApp is bidding farewell to older mobile operating systems as the year draws to a close. Specifically, it's ending support for BlackBerry OS (including BlackBerry 10) and Windows Phone 8.0 and older on December 31st. Source Engadget Read More 

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