Nigeria in 1min: Economic, Business and Financial Headlines – 030419


Friday, April 03, 2019 / 06:45 AM / By News Aggregator / Header Image Credit: @UBAGroup


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Sugar Prices To Continue Its Downward Trend Due To Higher Global Stockpiles - Nigeria boasts of self-sufficiency in rice and expects to be an exporter in the short term. However, anecdotal evidence shows that the level of rice imports into Benin Republic and Togo has jumped by 25% in the last 2-3 years. Source FDC Ltd Read More

N324.59bn Generated as IGR in Q4 2018 – NBS - The Q4 2018 states and FCT IGR figure hits N324.59bn compared to N264.34bn recorded in Q3 2018. This indicates a positive growth of 22.79% quarter on quarter and 24.82% Year on Year. Source NBS Read More

PMI Reading No 73: In The Comfort Zone - Our manufacturing Purchasing Managers’ Index (PMI), the first in Nigeria, declined fractionally in April from 56.9 to 56.8. Our partner, NOI Polls, has gathered and compiled the data. Source FBNQuest  Read More 

Oil Workers To Buhari: End Fuel Importation - The oil workers promised to give the President the necessary support  to put an end to the shame of importing products for local consumption. Source TheNation Read More


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SEC Nigeria Will Not Encourage Illicit Funds in the Capital Market- Mary Uduk, Ag DG - The Securities and Exchange Commission, SEC, has restated its commitment to ensure that the Capital Market is not used to launder illegal funds. Source SEC Nigeria Read More


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NSEASI Inches Up By 0.04% Amid Negative Market Breadth; Halts Three-Day Sell Pressure - Equities market closed today on a positive note, as NSEASI appreciated by 0.04% to close at 29,171.73 points as against -1.22% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -7.19%. Source Proshare Read More

DANGSUGAR Declares N7bn PAT in Q1 2019 Result,(SP:N13.90k) - Dangote Sugar Refinery Plc released its unaudited first quarter results for the period ended March 31, 2019. Source NSE Read More

Debut 30-Year FGN Bond Oversubscribed At April Auction - Investors keenly contested for the N20 billion 30-year FGN Bond offered by the Debt Management Office (DMO) at the April 2019 FGN Bond Auction. For the first time the DMO introduced the 30-year FGN Bond into the market at the April 2019 FGN Bond Auction which held on Wednesday April 24, 2019. Source DMO Read More 

Demand For Long Term Bonds Pressure Yields Marginally Lower - The Bond market traded on slightly bullish note, with yields compressing marginally by c.4bps following slight demand on the long end of the curve. The most demand was witnessed on the FGN 2037s which compressed by c.11bps on the day. Source Zedcrest Capital Read More


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Kano To Get N4.5 Agro Commodity Exchange - Conducting reporters round the site, the Project Consultant,  Gezawa Commodity Market and Exchange Limited, Mr. Binfa Binchang said it  was conceived in collaboration with some investors to provide a cost-effective platform for local farmers, buyers and sellers of agro commodities to transact business  in a seamless manner using  technology. Source TheNation Read More

Nigeria, UK Explore Naira-Denominated Instruments - Nigeria and the United Kingdom have agreed to fast-track key regulation to deepen the insurance market, expand the digital economy, and explore Naira-denominated financial instruments in collaboration with the City of London. Source Guardian Read More

NNPC Saves $2.2bn From DSDP Scheme - The Nigerian National Petroleum Corporation, NNPC, Thursday, disclosed that it has saved $2.2 billion since the introduction of the Direct Sales, Direct Purchase scheme, DSDP. Source Vanguard Read More


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Microsoft Rolls Out New Cloud Services For AI And Blockchain - Microsoft Corp on Thursday announced new tools for software makers aimed at making technologies such as artificial intelligence and blockchain easier for businesses to use. Source Reuters Read More


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