Nigeria in 1min: Economic, Business and Financial Headlines – 160419

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Tuesday, April 16, 2019 / 7:00 AM / By News Aggregator / Header Image Credit: @FMPRng

 

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PROSHARE ECONOMY

Average Prices of PMS, AGO, HHK and Cooking Gas – March 2019 - Average price paid by consumers for premium motor spirit (petrol) decreased by -11.1% year-on-year and -0.00% month-on-month to N145.30 in March 2019 from N145.30 in February 2019 . Source NBS Read More 

NNPC Pays $1.5bn Cash Call Debt To  IOCs -  The Nigerian National Petroleum Corporation says it has reduced cash call arrears owed to international oil companies, its Joint Venture partners, by $1.5bn. The corporation has cash call arrears of $5.1bn. Source Punch Read More

FG Seeks $1bn World Bank Loan For Power Sector - The Minister of Finance, Mrs. Zainab Ahmed has disclosed that the federal has commenced discussion with the World Bank with a view to take a $1 billion loan for the development of the power sector. Source Vanguard Read More

 

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PROSHARE REGULATORS 

CBN Introduces Guidelines For Non-Interest Financial Institutions - The regulatory body said the objectives of the guidelines was to provide the minimum standard to be met by NIFIs operating in Nigeria before they could recognise Profit Sharing Investment Account Holders deposits as risk absorbent and deduct same from the computation of Risk Weighted Assets. Source Punch Read More

 

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PROSHARE MARKETS 

Dangote Sugar Refinery Q4 2018 Results Review: Topline Improvement Key to 2019 Outlook - Dangote Sugar Refinery’s (DSR) Q4 2018 earnings declined by -60% y/y to N5.3bn but came in well ahead of our estimate. Source FBNQuest Research Read More

Afrinvest Stock Recommendation For The Week 150419 - General sentiment in the equities market remained soft last week as sell-offs in GUINNESS, FLOURMILL and ETI weighed on performance. Source Afrinvest Research Read More 

Forex in Nigeria: The Future is Now? - Getting to work on the currency exchange, one should not expect that everything will go well immediately and that the money will start raining down. Source Justforex Read More 

NSEASI Dips By -0.22% To Open The Week On A Negative Note - Equities market closed today on a negative note, as NSEASI depreciated by 0.14% to close at 29,495.91points as against 0.73% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -6.16%. Source Proshare Read More

 

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PROSHARE BUSINESS 

FBNHoldings Wins World Finance Best Corporate Governance In Nigeria Award - In a Press Release issued today 15 April 2019 the management of FBN Holdings announced that it had been judged winner of the 2019 Best Corporate Governance in Nigeria Award by news platform, World Finance; a global news organization reputed for its coverage and analysis of the financial industry, international business and global economy. Source FBNH Read More

NNPC Reduces Joint Venture Indebtedness To $3.5bn - Group Managing Director of the NNPC, Dr. Maikanti Baru disclosed this in Abuja, at the 12th national conference of the Nigerian Association for Energy Economics/International Association for Energy Economics, NAEE/IAEE. Source Vanguard Read More

FG Shortlists Four Firms For Afam Power, Yola Disco’s Sale - The Federal Government has given its nod to three firms to proceed with the financial bids opening in the bid to acquire Afam Power Plc, an electricity generation company. It has also given approval to one firm, Quest Electric Nigeria Limited, to proceed with financial bid opening for Yola Power Plc, an electricity distribution company covering the North-eastern part of the country. Source Punch Read More

Trump On China Trade Spat: 'We're Going To Win Either Way' - President Donald Trump said on Monday he believed the United States would emerge from its trade dispute with China as a winner, no matter what happened. “We’re going to win either way. We either win by getting a deal or we win by not getting a deal,” Trump said during a visit to a business roundtable in Burnsville, Minnesota.  Source Reuters Read More


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PROSHARE TECHNOLOGY 

‘Internet Users Rise To 114.7m In February ‘  - Internet users in Nigeria increased marginally to more than 114,752,357 million in February 2019, the Nigerian Communications Commission (NCC) has said. The NCC made this known on Monday in its Monthly Internet Subscribers Data for February posted on its website. Source Leadership Read More 

 

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