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Nigeria in 1min: Economic, Business and Financial Headlines – 100518

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Thursday, May 10, 2018, / 7:10 AM / Proshare News 

PROSHARE ECONOMY

Oil Price: Keeping The Second Wind Alive - Certainly, oil never runs out of mock games, besides there is something for everyone.  The mock games have become more vivid than ever before, as exogenous factors tend to shock oil prices. Source Proshare Read More 

Lagos-Ibadan Expressway Rehabilitation: Impacts and Implications for Nigerians - Transportation and property are important in physical and economic development of towns and cities all over the world. Source Proshare Read More 

Moody's: Outlook Stable for Nigerian Banks as Higher Oil Prices Moderate Foreign Currency Risks - The outlook for the Nigerian banking system remains stable as banks' foreign currency liquidity risks moderate due to rising oil prices and a more liberal foreign exchange policy, says Moody's Investors Service in a report published today. Source Proshare Read More 

Nigeria Now Has 19million Active Taxpayers – Osinbajo - The Vice President, Yemi Osinbajo, yesterday disclosed that the nation has increased its tax net from 14 million in May 2017 to 19 million this year Source Leadership Read More 

Lagos to complete largest rice mill in Sub-Saharan Africa early 2019 - The Lagos State Government on Wednesday said all hands are on deck to complete the largest rice mill in Sub-Saharan Africa currently ongoing in Imota Local Council Development Area of the State within the first quarter of 2019. Source THE NATION Read More 

FEC okays N1.4billion equipment for 6 airports - The Federal Executive Council on Wednesday approved a sum of N1.365 billion for the procurement of new equipment for control towers at six airports. Source Daily Trust Read More 

Again, Senate postpones passage of 2018 budget - The report by the joint Senate and House of Representatives’ Committee on Appropriations on the 2018 Appropriation Bill was not laid at the Senate before the chamber adjourned plenary to Tuesday next week. Source Punch Read More 

50% of containers in West Africa coast unfit – Shippers - The Shippers Association of Lagos State has said many of the containers coming into the West African coast from Europe and Asia are old, leaking and rusted and cannot be accepte d back into Europe. Source Punch Read More 

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PROSHARE MARKETS

NSEASI Dips Further by -0.18% as Market Sentiment Remains Negative - Equities market closed today on a negative note, as NSEASI depreciated by -0.18% to close at 41,080.12. basis points as against -0.04% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +7.42%.  Source Proshare Read More 

NAFEX Rate hits 4-Month High amid Offshore Selloff - The bond market traded with volatile swings, as spreads widened across the curve on fears of continued selloff by offshoreSource Proshare Read More

Nigeria’s excess oil revenue rises to N22.4bn daily as price hits $77bn per barrel - Nigeria’s excess oil revenue has risen to N22.4 billion daily as a result of the sudden leap in the price of crude from $67 to $77 per barrel in the international market. Source Vanguard Read More

FG responsible for fuel subsidy payment — NNPC - Nigerian National Petroleum Corporation, NNPC, yesterday, disclosed that it was the Federal Government that is paying subsidy on petrol and not the corporation. Source Vanguard Read More 

AfDB approves $1.5m for Jigawa solar power programme - The Board of Directors of the African Development Bank (AfDB) has approved a $1.5 million grant from the Sustainable Energy Fund for Africa (SEFA) to support the Nigerian government’s implementation of Phase 1 of the Jigawa 1-GW Independent Power Producer (IPP) Source THE NATION Read More 

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PROSHARE BUSINESS

SEC Nigeria Hands Over AMERC Leadership to Paul Muthaura of Kenya CMA - Securities and Exchange Commission (SEC) Nigeria has been commended on its tirelessness, professionalism and dedication among others while it hosted the secretariat of the Africa and Middle East Regional Committee (AMERC) of the International Organisation of Securities Commissions (IOSCO). Source Proshare Read More 

Oil prices hit highest in years as markets adjust to looming sanctions on Iran - Oil prices clocked up more multi-year highs on Thursday as traders adjusted to the prospects of renewed U.S. sanctions against major crude exporter Iran amid an already tightening market. Source Reuters Read More 

Africa’s Biggest Company Made $1.6 Billion on Flipkart Deal - Africa’s largest company just chalked up another major investment coup. Source Bloomberg Read More 

Dangote Ranks Among 75 World’s Most Powerful People - Nigeria’s foremost entrepreneur, Aliko Dangote has been ranked among 75 most powerful persons on the planet, ahead of the Vice President of the United States of America, Mike Pence. Source Leadership Read More 

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PROSHARE TECHNOLOGY

It is Time for Proshare’s H1 2018 Online Trading Ranking Survey - It is time for Proshare’s H1 2018 Online Trading Portals' Ranking Survey. Your experience with your various brokerage service firms is very important for us to understand what you expect from the house you transact with professionally, and we would like to invite you to participate in our H1 2018 Online Trading Portals' Ranking Survey. Source Proshare Read More 

PwC unveil Partnership to Boost Insurtech start-ups - Accountancy firm PwC has unveiled a partnership with international start-up rating agency Early Metrics designed to link fast-growth start-ups with established insurance companies to generate mutually beneficial commercial opportunities and relationships. Source Proshare Read More 

MTN Plans to Raise $1.1 Billion in Debt in Nigeria This Year - MTN Group Ltd. plans to borrow as much as 400 billion naira ($1.1 billion) in Nigeria this year as Africa’s largest wireless carrier by sales seeks to fund local investment and replace existing debt in the continent’s most populous country. Source Bloomberg Read More 

MTN says U.S decision on Iran may limit its ability to repatriate cash from Irancell - MTN Group said on Wednesday that U.S. President Donald Trump’s decision to pull out of the Iran nuclear accord may limit the South African telecoms firm’s ability to repatriate cash from MTN Irancell, sending its shares lower. Source Reuters Read More 

9mobile sale: Clouds hang over Teleology’s capacity to raise balance of payment - There is some uncertainty around the final takeover of 9mobile by Teleology Holdings which was named the preferred bidder, as the company is likely facing challenges in raising the balance of its $500 million dollar bid, as local financiers are said not be keen on extending further credit to the telecom sector, especially a struggling player. Source BUSINESSDAY Read More 

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