Nigeria in 1min: Economic, Business and Financial Headlines - 051219

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Thursday, December 5, 2019 / 06:40 AM / By News Aggregator

 

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PROSHARE ECONOMY 

NBS Publishes 2019 General Household Panel Survey Report - The Nigerian General Household Survey (GHS) is implemented in collaboration with the World Bank Living Standards Measurement Study (LSMS) team as part of the Integrated Surveys on Agriculture (ISA) program and was revised in 2010 to include a panel component (GHS-Panel). Source NBS Read More 

Nigeria's Finance Bill 2019 Key Changes and Implications - The Bill seeks to promote fiscal equity, align domestic laws with global best practices and support Micro, Small and Medium-sized businesses. Other objectives include increasing government revenues and stakeholder investments in investment/capital market through the introduction of incentives. Source Deloitte Read More 

Power Distributors Lost N931bn In Four Years - PwC - Electricity distribution companies in the country posted a total loss of N931bn from 2014 to 2017, PwC Nigeria has said. Partner and Chief Economist, PwC Nigeria, Dr Andrew Nevin, said the Discos had continued to report losses, adding that a minimum estimated revenue of N1tn was required by Discos to break even. Source Punch Read More 

FG Has Disbursed N19.9bn To Petty Traders - BoI - The Bank of Industry on Tuesday said the Federal Government had disbursed a total of N19.9bn to petty traders under the Government Enterprise Empowerment Programme. The Executive Director, BoI, Toyin Adeniji, said this when the United Nations Ambassador, Dr Chanita Foster, and 50 students from Government Girls Secondary, Dutse visited the GEEP centre in Abuja.  Source Punch Read More 

Nigeria's Manufacturing Sector's GDP To Hit N49.6tr With 40,000Gwh Of Power Supply - If electricity supplied to industries increases to 40,000Gwh within the next seven years, the manufacturing sector's contribution to the Gross Domestic Product (GDP) is projected to rise to N49.6 trillion with at least 46.59 million jobs created. Source Guardian Read More 

Senate Receives Final Report Of 2020 Budget - The report was presented by the chairman committee on appropriation, Senator Barau Jibrin (APC, Kano North) during plenary. The final report, which was supposed to be presented on November 26, was extended to Tuesday after the committee requested for grace to be able to produce clean copy. Source Dailytrust Read More

 

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PROSHARE REGULATORS 

A Call For Review and Comments On Investments And Securities Bill 2019 - The Securities and Exchange Commission (SEC) has proposed an amendment to the Investments and Securities Acts (ISA), 2007. The proposed Investments and Securities Bill 2019 is expected to repeal the ISA 2007 and enact the Investments and Securities Acts (ISA), 2019. Source Proshare  Read More

 

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PROSHARE MARKETS 

A Likely Return To The Eurobond Market By FGN In 2020 - The finance minister said on Monday that the FGN could tap the Eurobond market in early 2020 to cover any external financing gap left after its talks with concessional lenders.Source FBNQuest  Read More 

NSEASI Dips Marginally By -0.02% As Market Sentiment Remains Negative Amid Positive Breadth - Equities market closed today on a negative note, as NSEASI depreciated by -0.02% to close at 26,938.58 points as against -0.17% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -14.29%. Source Proshare Markets Read More 

NSE Highlights The Importance Of The Capital Market In Achieving SDGs - The Nigerian Stock Exchange (NSE) has highlighted the critical role of the capital market in delivering sustainable socio-economic growth and development in Nigeria. This was articulated at the award ceremony of the 19th NSE Essay Competition for Senior Secondary Schools in Nigeria which held on Wednesday, 4 December 2019 at the Civic Centre, Lagos. Source NSE Read More 

CBN to Auction N795bn Treasury Bills in Q1 2020 - The Central Bank of Nigeria (CBN) will in the first quarter of 2020 issue treasury bills worth a total of N795.427 billion. The debt instrument would be made up of 91-day, 182-day and 364-day bills. Source Thisday Read More 

 

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PROSHARE BUSINESS 

AFEX Gets Recognition For Technology Innovation - AFEX Commodities Exchange Limited says it has won the award for Technology Innovation for Agribusiness Investment at the 5th edition of the Institute of Agribusiness Management Nigeria's National Agribusiness Conference. Source Punch Read More 

Nigeria, UAE Trade Volume Hits $1.5Bn - The Ambassador of the United Arab Emirates (UAE), Dr Fahad Al Taffaq, has put the volume of trade between his country and Nigeria around $1.5 billion, the figure which is based on trade in 2018 was mainly from the non-oil bilateral trade. Source Thisday Read More 

U.S. Services Sector, Private Payrolls Growth Slow - U.S. services sector activity slowed in November as lingering concerns about trade tensions and worker shortages pushed production to its lowest level in a decade, which could heighten fears about the economy's health. Source Reuters Read More 

Focus On Gas Development, Kyari Tells PETAN - The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, has advised members of the Petroleum Technology Association of Nigeria (PETAN) to focus more on gas development to support the Federal Government's effort to reduce hazardous emission. Source TheNation Read More 

Oil May Fall To $40, Experts Warn OPEC - Experts at an energy research group, Rystad Energy, have predicted that there will be a substantial build of global crude stocks and a corresponding drop in oil prices if the Organisation of Petroleum Exporting Countries fails to deepen production cuts in 2020. Source Punch Read More

 

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PROSHARE TECHNOLOGY   

How Africa's Fintech Industry Will Shape Financial Inclusion - Growing concerns about the relatively slow pace of financial inclusion in Africa are likely to be resolved by the broadening and deepening of financial technology (Fintech). Source Proshare Read More 

 

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PROSHARE FINANCE

FMBN Disburses N75.5b In 3 Years - The Federal Mortgage Bank of Nigeria (FMBN) has revealed that it has so far disbursed N75.5 billion from 2017 till date. The bank said it includes 3,541 mortgages and 25,242 home renovation loans and financing the construction of over 7,286 housing units. Source TheNation Read More 

 

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PROSHARE MSME

Ecobank Nigeria Gets Applause For Supporting Young Entrepreneurs - Ecobank Nigeria has been commended for supporting budding entrepreneurs and small and medium enterprises (SMEs) in the country. This came at the backdrop of the support provided by the bank to young entrepreneurs who were selected as beneficiaries of the 'Unusual Entrepreneurs" program, an initiative of the Catholic Church of Divine Mercy, Lekki Lagos. Source Ecobank Read More

 

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