Nigeria in 1min: Economic, Business and Financial Headlines - 091019


Wednesday, October 9, 2019 / 06:50 AM / By News Aggregator / Header Image Credit: @NigeriaGov


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President Buhari's 2020 Budget Speech - The economic environment remains very challenging, globally. The International Monetary Fund expects global economic recovery to slow down from 3.6 percent in 2018 to 3.5 percent in 2020. This reflects uncertainties arising from security and trade tensions with attendant implications on commodity price volatility. Source Presidency Read More

Shared Responsibility: Building and Sustaining a Strong Economic Future for Nigeria - I consider it a great honour and privilege to have been invited as the Keynote Speaker on the occasion of the Dinner to celebrate the 25th Nigerian Economic Summit here today in Abuja. Source Atedo N. A. Peterside, CON Read More

FG Defends VAT Increase, Says It'll Help Struggling States - The Federal Government, yesterday, defended its decision to increase Value Added Tax, VAT, rate to 7.5 per cent from five per cent, stating that the review should have been done nine years ago. Source Vanguard Read More

Buhari Exempts Firms With N25m Turnover From VAT - Firms making a turnover of N25 million and below will be exempted from payment of the Value Added Tax (VAT), President Muhammadu Buhari said on Tuesday. He stated this while presenting his N10.33 trillion 2020 budget estimates to the joint sitting of the National Assembly in Abuja. Source The Nation Read More

2020 Federal Government of Nigeria Budget Proposal - Highlights - His Excellency, the President of the Federal Republic of Nigeria, Muhammadu Buhari, GCFR, on 8 October 2019, presented the Federal Government Budget proposal for 2020 before a joint sitting of the National assembly. Source KPMG Read More

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NSEASI Dips Further By -0.21% As Sell Pressure Persists - Equities market closed today on a negative note, as NSEASI depreciated by -0.21% to close at 26,809.92 points as against -0.45% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -14.70%. Source Proshare Markets Read More

Dangote Cement Plc - Update on Pioneer Tax Status Application - The recently released Q2'19 report of the Nigerian Investment Promotion Commission (NIPC) showed that the pioneer tax extension application of Dangote Cement Plc. (DANGCEM) was declined on the basis of its ineligibility under the Industrial Development Income Tax Relief Act. Source CardinalStone Research Read More

Unilever Nigeria Notifies of Q3 2019 Closed Period - UNILEVER hereby gives the Nigerian Stock Exchange and the investing public notice of the Closed Period from Tuesday 8 October, 2019 until Monday 28 October, 2019 or 24 hours after filing of the Unaudited Interim Financial Statements for quarter ended 30 September, 2019. Source NSE Read More

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MACN - CBI & BAAC Discuss Service Delivery At The Nigerian Ports: Emphasise Procedural Compliance - The prospect for improved service quality at Nigerian seaports and terminals came to the fore as the Maritime Anti-Corruption Network (MACN) in association with the Convention on Business Integrity (CBi), and the Business Action Against Corruption (BAAC) hosted a Roundtable Session on Service Delivery at the Nigerian Ports in Lagos. Source WebTV Read More

Banks Take N11.57tr Loan From CBN in Six Months  - The Central Bank of Nigeria (CBN) loaned N11.57 trillion to Deposit Money Banks (DMBs) in the first half of this year, the apex bank's financial markets report has shown. A breakdown of the report showed that banks borrowed N95.63 billion in each of the 121 trading days within the coverage period ended June. Source The Nation Read More

Ghana's Stock Revival on Hold With Investors Wary of Elections - First, a deep cleanup of its banking sector battered Ghana stocks. Now, investors already appear to have a wary eye on elections next year, curbing the prospects of any revival. Source Bloomberg Read More

NNPC To Publish Petroleum Products' Supplies - The Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari, on Tuesday said the oil firm was set to commence the publication of details of its petroleum products' supplies. Beyond publishing the corporation's monthly financial and operations reports, he said plans were afoot to make public all petroleum products supply transactions across the country to further deepen transparency in the system. Source Punch Read More

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NSE to Launch Growth Board for SMEs Funding -  Small and medium enterprises (SMEs) finding it difficult to access funding will soon heave a sigh of relief as the Nigerian Stock Exchange (NSE) Growth Board(GB) will soon become operational. Source Thisday Read More

Amazon Invests $15m on SMEs - Amazon, an American multinational technology company-based in Seattle, Washington, has announced the investment of $15 million globally on tools and services in an effort to support their merchants to succeed on the marketplaces. Source The Nation Read More


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