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Nigeria in 1min: Economic, Business & Financial Headlines – 290517



May 29, 2017 7:00 AM / Proshare News 

What To Expect From The Markets This Week - 290517 - Nigeria Celebrates its Democracy Day today as the Presidency holds a presidential level Report Card event on the Social Investment Programmes of the Buhari presidency as part of activities commemorating the Second year of the Buhari administration. Source Proshare Read More 

Mining and Tourism in Nigeria: The Case for The Preservation of Shere Hills (1) - Shere Hills located in Jos, Plateau State Nigeria is one of the beautiful natural landmarks and heritage sites in the country. With a range of undulating hills and rock formations, situated ten (10) kilometres to the East of Jos Metropolis. Source Proshare Read More

FAAC Disburses N496.39bn in April 2017 - NBS - The Federation Account Allocation Committee (FAAC) disbursed the sum of N496.39bn to the three tiers of government in April 2017 from the revenue generated in March 2017. Source Proshare Read More 

Licence renewal at oil, gas free zones to take 48 hours – Umana -I took over as the Managing Director of the Oil and Gas Free Zones Authority (OGFZA) in September last year, and I hit the ground running immediately and dealt with some foundational issues which I addressed by organizing a management retreat from which a roadmap for the authority was produced. Source Daily Trust Read More

It’s suicidal to build national carrier from Arik, Aero - AMCON - The Assets Management Corporation of Nigeria (AMCON) has warned that it would be suicidal to contemplate building a national carrier from the assets of Aero Contractors and Arik airlines, both currently under the administration of the corporation. Source Daily Trust Read More 

BA Resumes Flights to Nigeria after Computer Glitch - After the cancelation of its flights worldwide due to computer glitch at the weekend, British Airways yesterday resumed flights to Nigeria and other destinations, as flight BA075 departed London Heathrow Airport at 12:09p.m. Nigerian time to Lagos. Source Thisday Read More 

Reforms to save MSMEs N2.6bn annually - The Federal Government is targeting an annual savings of N2.6bn for Micro, Small and Medium Enterprises in registration costs to start their businesses. Source Punch Read More

States producing 5.7 million metric tonnes of rice – DFID - The United Kingdom’s Department for International Development has said that 18 states in Nigeria now produce about 5.7 million metric tonnes of milled rice, bringing the country’s production closer to the seven million metric tonnes projected milled rice requirement for 2016. Source Punch Read More


NSEASI Extends Three-Day Gaining Streak; Records +3.38% Gain Wow - Equities market closed today on a positive note, as NSE ASI appreciated by +2.10% to close at 29,064.52 basis points, as against +0.64% appreciation recorded previously. Source Proshare Read More 

Domestic and Foreign Portfolio Participation in Equity Trading – April 2017 - On a monthly basis, The Nigerian Stock Exchange polls trading figures from major custodians and market operators on their Foreign Portfolio Investment (FPI) flows. Source Proshare Read More 

Osinbajo Appoints New PenCom DG, BoI Chairman, MD - Exercising his powers as Acting President Prof. Yemi Osinbajo last night made his first set of appointments since President Muhammadu Buhari embarked on a medical vacation to the United Kingdom. Source Thisday Read More

AMCON Recovers N134bn Debt, Trims Loss to N254.34bn in 2016 - The Asset Management Corporation of Nigeria (AMCON) yesterday put the total of its debt recoveries in 2016 at N134 billion. Source Thisday Read More

N701bn Stimulus: FG Moves to Buoy Electricity Generation - As the Central Bank of Nigeria and Nigerian Bulk Electricity Trading Plc plan to begin disbursement of a N701 billion financial stimulus for generation companies, Chineme Okafor examines the impact of the incentive on the country’s energy production capacity Source Thisday Read More 

NCDMB, Dangote collaborate on refinery project - The Nigerian Content Development and Monitoring Board has announced a collaboration with Dangote Industries Limited aimed at ensuring maximum utilisation of local capacities in the construction of the company’s 650,000 barrels per day oil refinery. Source Punch Read More 

Oil price fall not a threat for now – OPEC - The fall of crude oil price in the international market after the decision by the Organisation of Petroleum Exporting Countries (OPEC) to continue with its production cut till March next year is not a major concern for now, the Secretary General of the group, Mohammed Sanusi Barkindo has said. Source Daily Trust Read More 

NNPC Sustains Oil Search in Chad Basin - Nigeria’s pursuit of an enlarged crude oil reserve is being sustained by the Nigerian National Petroleum Corporation, which recently indicated that it would resume its oil search in the Chad Basin following signals by the military that it was now safe to get back to the venture, writes Chineme Okafor, who also examines the possible impact on the economy Source Thisday Read More 

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OPEC Wins Hedge Funds Back With Jump in Oil Bets Ahead of Deal - Following four weeks of growing pessimism, bets on rising West Texas Intermediate prices jumped the most this year just as Saudi Arabia and Russia were mustering support for the deal they struck in Vienna last week, U.S. Source Bloomberg Read More 

Egypt Sees Almost $1 Billion in Foreign Inflows Since Rate Boost - Egypt received about $1 billion in foreign inflows since the central bank raised interest rates by 200 basis points last week to curb inflation. Source Bloomberg Read More 

The World Is About to be Flooded With Cotton - The world is about to be inundated with cotton as farmers take advantage of high prices to produce more and China floods the market with excess supply from its strategic inventory. Source Bloomberg Read More 

Evergrande's Boss Got $10 Billion Richer on Meteoric Share Surge - Hui Ka Yan, chairman of China Evergrande Group, has seen his fortune surge by at least $10 billion this year as shares of his property company have almost tripled. Source Bloomberg Read More 

Thailand to Take on Singapore With $5.7 Billion Airport Overhaul - Thailand is seeking to take on Singapore’s dominance in aircraft maintenance, repair and overhaul with a $5.7 billion upgrade of a Vietnam War-era airport. Source Bloomberg Read More 


NCC secures N221m waiver for MTN in Kano - The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof Umar Garba Danbatta, has secured a permit fee waiver of a whopping N221 million for MTN Nigeria in Kano State. Source Daily Trust Read More





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