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Nigeria in 1min: Economic, Business & Financial Headlines - 300817

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August 30, 2017 7:00 AM / Proshare News  

PROSHARE ECONOMY
One-day Conference on ‘Nigeria’s Economic Outlook’ by Dr. Teriba to hold on Sept 28 - Economic Associates (EA) will host a one-day quarterly conference on Nigeria’s Economic Outlook on Thursday, 28 September 2017 at Radisson Blu Hotel & Anchorage, Ozumba Mbadiwe Street, Victoria Island, Lagos. Source Proshare Read More  

Headline Inflation Declined Marginally to 16.05% in July - This is the 6th consecutive monthly decline in the headline inflation in 2017. This drop in the year-on-year price level is contrary to some analysts’ expectations, but within the acceptable margin of error of (+/- 0.1%). Source Proshare Read More 

Pension Liabilities Of 20 States Hit N200bn - 20 states out of the 36 states of the federation owe their workers as well as retirees about N200 billion pension liabilities Source Leadership Read More 

Automakers hold back from Nigeria over delay in NAIDP bill - The delay in the passage of the National Automotive Industrial Development Plan (NAIDP) bill into law by the Senate, is said to be one of the factors holding back an estimated $5 billion worth of investment by automakers into the various local automobile assembly plants in Nigeria, under the 10-year (2013-2023) Auto Industry Development Plan Source BUSINESSDAY Read More

 

PROSHARE MARKETS
Market Maintains Downtrend as NSEASI Dips by -0.42% - Equities market closed today on a negative note, as NSE ASI depreciated by -0.42% to close at 36,165.93 basis points as against -0.90% depreciation recorded previously. Source Proshare Read More

UBA Plc H1 2017 Conference Call & Earnings Presentation - The Key Takeaways - UBA Plc held its H1’17 Investors and Analyst Conference Call Earnings Presentation. Proshare NG participated along with leading market analysts and professionals. Source Proshare Read More 

Access Bank redeems $350m Eurobond - Access Bank Plc has announced the final redemption of the $350,000,000.00 Eurobond Notes due July 25, 2017. Source Daily Trust Read More

Flour Mills of Nigeria: Core Momentum Inspires Fresh Upside - Prior to the FX-induced equity rally in Nigeria, the food sub-sector bore the brunt of a challenging macro-economic environment as investors priced in effects of constrained consumer income, naira depreciation and high interest rate on the performance of food producers. Source Proshare Read More 

Banks hit by slow growth in deposits, as customers prefer T – bills, FX purchase - Nigerian banks’ deposit growth has hit a three-year low, due to increased appetite for Treasury Bills by customers and their move to clear pent up foreign exchange (FX) obligations. Source BUSINESSDAY Read More 

UBA makes prudential provision on 9mobile loans - The United Bank for Africa Plc says it has made a prudential provision on loans made to 9mobile, the mobile operator formerly known as Etisalat Nigeria. Source Punch Read More 

Oil marketers threaten mass sacking over $2bn debt - Oil marketers have said they will embark on mass retrenchment following the failure of the Federal Government to pay the debt owed them for importation of petroleum products as well as the accrued interest on loans from banks and exchange rate differential. Source Punch Read More 

Gas flaring: How Nigeria burnt $4.9bn in 5 years - Between 2012 and 2016, Nigeria flared a total of 1.698 trillion cubic feet (Tcf) of gas according to figures published by the Nigerian Bureau of Statistics (NBS). Source BUSINESSDAY Read More

Refineries produce 12m litres of fuel, diesel daily — NNPC - The Nigerian National Petroleum Corporation, NNPC, yesterday, said the country’s three refineries produced about six million litres of Premium Motor Spirit, PMS, also known as petrol, daily in the month of June 2017. Source Vanguard Read More 

NNPC increases gas supply to power plants by 123% - The Nigerian National Petroleum Corporation (NNPC) has increased daily average natural gas supply to the nation’s gas power plants by 123 per cent to 730 million standard cubic feet per day (mmscf/d), a report said. Source THE NATION Read More 

Electricity Unions Kick against FG’s N39bn Meter Loan to Discos - The two main electricity unions in Nigeria have opposed the recent decision of the federal government to grant N39 billion loan to the 11 electricity distribution companies (Discos) to procure and install meters to customers in their networks. Source Thisday Read More 

PROSHARE BUSINESS
Invest Northern Ireland Trade Mission to Nigeria - In our objective to promote trade and grow businesses for our members, the Nigerian-British Chamber of Commerce (NBCC) is pleased to inform its members that the Invest Northern Ireland is organising a business networking event as part of its Trade Mission to Nigeria, from 13th-15 September, 2017. Source Proshare Read More 

AGF sets up centre for criminal prosecutions - The Attorney General and Minister for Justice, Abubakar Malami (SAN), has announced plans to create a central body that will coordinate all criminal prosecutions in the country. Source Daily Trust Read More 

China's R&F to invest up to $2 bln to revive Zimbabwe steelmaker ZISCO -minister - China’s R&F plans to invest up to $2 billion to revive operations at Zimbabwe Iron and Steel Company (ZISCO), the southern African nation’s industry and commerce minister said on Tuesday. Source Reuters Read More 

Egypt signs oil and gas exploration deals with Shell, Apex - Egyptian Oil Minister Tarek El Molla has signed three oil and gas exploration deals for 16 new fields in the Western Desert worth at least $81.4 million in total with Royal Dutch Shell and the U.S.-based Apex International Energy. Source Reuters Read More 

Bank of Montreal Falls as Profit From U.S. Unit Disappoints - Bank of Montreal fell the most in three months after posting profit from its U.S. banking operations that was little changed from a year earlier. Source Bloomberg Read More 

Kik Plans to Raise $125 Million With Digital-Currency Sale - Canadian messaging startup Kik Interactive is about to get its biggest cash infusion yet -- but this time much of it will come from regular people instead of venture capitalists. Source Bloomberg Read More 

Libya Central Bank Issues Revenue Warning Over Oil Disruption - Libya’s central bank said recent disruption had slashed production by around 350,000 barrels a day, while unrest and shutdowns over the past three years have cost the OPEC member more than $160 billion in direct and indirect losses. Source Bloomberg Read More 

Bank of Israel Holds Interest Rate After Growth Disappoints - The Bank of Israel held its benchmark interest rate steady as slower-than-expected economic growth and negative inflation mean the central bank won’t hurry to tighten monetary policy. Source Bloomberg Read More 

Russia Readies Emergency Loans to Contain Bank Otkritie Crisis - Russia’s slow-motion banking crisis claimed its biggest victim yet, forcing the central bank to provide support for other lenders to prevent panic from spreading. Source Bloomberg Read More 

PROSHARE FINANCE
Upholding High Integrity – The Cornerstone In Financial Planning - It gives me great pleasure to be here today. I would like to express my appreciation to the Malaysian Financial Planning Council or MFPC for all the preparations made as the main organiser of the second Financial Planning Signature Conference. Source Proshare Read More   

PROSHARE TECHNOLOGY
New York State DFS Cybersecurity Regulation Compliance Requirements Are Effective Today - Financial Services Superintendent Maria T. Vullo reminds all entities covered by the DFS cybersecurity regulation, that today, August 28, 2017, is the first compliance date of New York’s first-in-the-nation cybersecurity regulation. Source Proshare Read More   

NSE Launches a State-Of-The Art Data Centre - The Nigerian Stock Exchange (NSE) is pleased to announce that it has launched a state-of-the art Data Centre on August 28, 2017. The Data Center which was commissioned by the Honourable Minister of Science and Technology, Dr. Ogbonnaya Onu, has been built to Uptime Institute’s TIER III design standards. Source Proshare Read More 

 

PROSHARE MSME
FG, BOI launch N5bn fund for artisanal, small scale miners - The Ministry of Mines and Steel Development, in collaboration with the Bank of Industry (BOI), has launched a N5 billion fund in support of artisanal and small scale miners in the country. Source Daily Trust Read More    

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