Nigeria in 1min: Economic, Business and Financial Headlines - 171019


Thursday, October 17, 2019 / 06:58 AM / By News Aggregator / Header Image Credit: Proshare WebTV

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GDP By Income and Expenditure Approach Q1 2019 - Household Final Consumption Exp. Grew by 1.41% - In the third and fourth quarters of 2018, Nigeria's real GDP at basic prices grew by 1.81 % and 2.38% year on year respectively. The annual real GDP in 2018 grew by 1.91%, which was more than double the growth rate recorded in 2017 which stood at 0.82%. Source NBS Read More

Inflation Succumbs to Border Closure and Money Supply Growth - Spikes to 11.24% - The temporary closure of the border in Nigeria has led to a surge in customs revenue and reduced smuggling in the short run. The national import bill should theoretically be lower and the road to self-sufficiency should be assured. Source FDC Ltd Read More

Oil Markets Bearish Despite Rising Geopolitical Risk - OIR 151019 - Oil prices fell more than 2 percent on Monday on diminished excitement surrounding the partial trade agreement between the U.S. and China. Source Oilprice Read More

Fiscal Prudence: Federal Government Approves Token Cost Savings Measures - In a bid to curb leakages and ensure efficiency in the management of resources of Government, President Muhammadu Buhari, has approved for immediate implementation, additional cost saving measures aimed at instilling financial discipline and prudence, particularly, in the area of official travels. Source SGF  Read More

Again, FG Makes Labour Fresh Offer to Avert Strike - After a protracted negotiation, which lasted till 2.05 a.m this morning, the federal government made a new offer to the organised labour to avert industrial action by the workers. Source ThisDay Read More

Average Prices Of PMS, AGO, HHK and Cooking Gas - September 2019 - Average price paid by consumers for premium motor spirit (petrol) decreased by -1.2% year-on-year and flat month-on-month to N145.5 in September 2019 from N145.5 in August 2019. Source NBS Read More

Download Full PDF Report Here - Budget 2020 Breakdown - Zainab Shamsuna Ahmed

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SEC Publishes New Rule on Direct Cash Settlement, Electronic Offering And Transmission of Shares - Pursuant to the Investments & Securities Act (ISA) 2007, the Commission has reviewed and approved the following new Rules and Amendments to its existing Rules and Regulations as follows. Source SEC Nigeria Read More

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Inflation Figures Hit A Three-Month High as Money Market Rates Drop to Single Digits - The Bond market traded on a cautious note, with mixed sentiments noted on across the curve. We noted buying interests at the short- (2022s) and long-end (2034s) of the curve, while the mid-end (2025s) were sold-off in the day's trading session. Source Zedcrest Capital Read More

Recommended Cash Acquisition of ELAND by SEPLAT to be Effected by Means of a Scheme of Arrangement - On 15 October 2019, the Seplat Board and Eland Board announced that they had reached agreement on the terms of a recommended all cash offer for the entire issued and to be issued share capital in Eland (the "Acquisition"). Source SEC Nigeria Read More

Investors Lose N20.18bn As Sell Pressure Persists - Equities market closed today on a negative note, as NSEASI depreciated by -0.16% to close at 26,472.20 points as against -0.16% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -15.78%.  Source Proshare  Read More

GUARANTY Declares N146.99bn PAT in Q3 2019 Results (SP:N27:00k) - Today, Guaranty Trust Bank Plc released its Q3 2019 results for the period ended September 30, 2019. Source NSE Read More

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Can Online Advertising be Regulated in Nigeria? - Online advertising involves the delivery of advertorial contents to Internet/online users via web, e-mail, ad-supported software and Internet-enabled smartphones. Source DealHQ Partners Read More

DMO Report: Nigeria's Debt is N25.7trillion - Nigeria owes N25.7 trillion in domestic and external debt. The Debt Management Office (DMO) stated this in its 'Total Public Debt Portfolio' obtained from its website on Wednesday. Source The Nation Read More

U.S., Chinese Teams Working On Phase 1 Trade Deal Text: Mnuchin - U.S. and Chinese trade negotiators are working on nailing down a Phase 1 trade deal text for their presidents to sign next month, U.S. Treasury Secretary Steven Mnuchin said on Wednesday, adding he was prepared to travel to Beijing for more meetings if necessary. Source Reuters Read More

UNIDO To Boost Nigeria's Industrialisation With New Country programme - The United Nations Industrial Development Organization (UNIDO) Representative to ECOWAS and Regional Director, Nigeria Regional Office Hub, Jean Bakole, has said that the new UNIDO Country Programme (2018-2022) would boost Inclusive and Sustainable Industrial Development in Nigeria. Source Guardian Read More

FEC Approves N5.4bn For Gas Parks, Airport Security - The Federal Executive Council has approved N5.4bn for the construction of oil and gas parks and indoor shooting range for aviation security. Source Punch Read More

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Financial Inclusion Rate in Nigeria Now 63.2% As At 2018 - After a dip in the financial inclusion headline number in 2016, the biannual financial inclusion survey number shows a marginal increase from 58.4 per cent in year 2016 to 63.2 per cent in 2018.Financial Inclusion Rate in Nigeria Now 63.2% As At 2018. Source CBN Read More


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