Nigeria in 1min: Economic, Business and Financial Headlines – 190618

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Tuesday, June 19, 2018 / 7:20 AM / Proshare News

 

PROSHARE ECONOMY

What To Expect From The Markets This Week - 180618 - On the 13th of June 2018, the National Bureau of Statistics published the inflation figures for May 2018.  Inflation continued its disinflationary path as food inflation declined further by 1.03% from 14.8% in April to 13.45% in May. Source Proshare Read more 

Sesame Seeds - A Diamond In The Rough - Nigeria has an abundant variety of commodities growing on its land, which have the potential to generate revenue and foreign exchange for the government. One of such commodities is sesame seeds. Source Proshare Read more 

Afreximbank plans $1b for trade, infrastructure - The African Export-Import Bank (Afreximbank) has expressed its readiness to work with the Federal Government arrange about $1 billion financing for government’s investments in trade-enabling infrastructure. Source THE NATION Read more 

NASS approves N369bn projects for Lagos, Akwa-Ibom, 17 others - Lagos State will receive the lion’s share of the N369 billion approved by the National Assembly to 19 states of the Federation for the settlement of outstanding claims and liabilities for executing Federal Government projects. Source BUSINESSDAY Read more 

Nigerian flagged vessels grow 17.03% in three years - The number of vessels acquired and registered by Nigeria’s indigenous ship owners to fly the country’s flag has grown by 17.03 percent in the last three years to 307 vessels, up from 262 vessels in 2015, Nigeria’s Maritime Industry Forecast 2018 – 2019 has revealed Source BUSINESSDAY Read more 

Manufacturing investments hit N4 trillion in 4 years - Investments in Nigeria’s manufacturing sector of the economy has increased to N4.63 trillion over a period of four years. Source THE SUN Read more 

10,291 manufacturing jobs lost in 2017 – MAN - A total of 5,212 jobs were lost in the manufacturing sector in the second half of 2017, bringing the total for the year to 10,291, a new survey released by the Manufacturers Association of Nigeria has revealed. Source Punch Read more

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PROSHARE MARKETS

NASD OTC Market CAP Sheds 1% WoW to Close at N446.65bn  - The NASD OTC Market ends the week with an increase in market metrics, as the NASD USI decreased by 0.9%, closing at 660.03 points (as against 666.24 points last Friday). Consequently, total market capitalization shed 1% this week, closing lower at ₦446.65 billion compared to ₦450.86 billion last Friday. Source Punch Read more 

‘95.28 billion litres of petroleum products imported in four years’ - Between January 2014 and December 2017, the country imported 95.28 billion litres of petroleum products such as Premium Motor Spirit (petrol), Automotive Gas and Oil (diesel) and Household Kerosene. Source Punch Read more 

Kachikwu Directs NNPC, Shell to Start $10bn Bonga South West Project Tuesday - The Minister of State for Petroleum, Dr. Ibe Kachikwu, has directed the Nigerian National Petroleum Corporation (NNPC) and Shell Nigeria Exploration and Production Company (SNEPCo) to commence the tendering process for the execution of the $10 billion Bonga South West/Aparo (BSWA) deepwater project Tuesday Source Thisday Read more 

Crude oil prices to decline to $68 a barrel in 2019 - The United States’ Energy Information Administration (EIA) forecasts that Brent crude oil prices will average $71 per barrel in 2018 and $68 a barrel in 2019. Source Guardian Read more 

Oil Declines as Traders Assess OPEC Compromise and Trump Tariffs - Oil dropped below $66 a barrel as traders assessed OPEC’s discussions on a compromise over an output increase as well as escalating trade tensions between the world’s two biggest economies. Source Bloomberg Read more

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PROSHARE BUSINESS

2bn Dangote Village for Widows and Orphans of Insurgency, Commissioned in Borno - It was a significant day in Borno State, as it's quest to achieve rehabilitation and reconstruction post-insurgency era received a boost, with the commissioning of the N2billion naira Dangote Village  in Maidugri. Source Proshare Read more 

A Look at Nigeria’s Credit Economy - In general, a credit system refers to a platform where financial institutions or lenders act as intermediaries in transactions. Source Proshare Read more 

Saudi Dilemma: Boosting Output Could Hurt Its Oil-Based Economy - Saudi Arabia’s plan to halt the oil-price rally could hurt its economy, depriving the kingdom of billions of dollars in income that it needs more than many other OPEC members. Source Bloomberg Read more 

Oprah Winfrey Just Became One of the World's 500 Richest People - Oprah Winfrey has notched another milestone. Source Bloomberg Read more

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