GUARDIAN
Geregu, BUA Cement Others Lift Index Further by 0.2 per cent
Bargain hunting persisted in the equities sector of the Nigerian Exchange Limited (NGX) as many blue-chip stocks; especially Geregu Power and BUA Cement joined the league of gainers pushing the All-share index up by 0.2 per cent. At the close of trading yesterday, the All Share Index (ASI) rose by 71.64 absolute points, representing a gain of 0.2 per cent to close at 44,859.78 points… Read More
THIS DAY
In Ambush of Vote Buyers, Ransom Takers, CBN Voids Naira Notes by End of January
In an apparent move to tackle vote-buying and control the amount of money in circulation, the Central Bank of Nigeria (CBN) yesterday announced a redesign of the currency in the variation of N200, N500 and N1,000. But beyond the reasons adduced are the far-reaching implications of the effects of the dramatic move that took the business community and the entire nation by surprise… Read More
Experts Laud CBN’s N250bn Gas Intervention Fund, Seek Supply Boost
Various stakeholders in the oil and gas sector have urged operators to take advantage of the Central Bank of Nigeria’s (CBN) recent N250 billion intervention to boost the much-needed infrastructure in the sector. With 208 trillion standard cubic feet of gas reserves, Nigeria, which should ordinarily be a leader in the gas supply business worldwide, has been struggling to even meet domestic needs… Read More
PUNCH
Buhari Eyes Over $1.3bn Trade with South Korea
The President, Major General Muhammadu Buhari(retd), on Wednesday in Seoul, invited top Korean business executives to increase their investments in Nigeria, while his regime would continue to make determined efforts to improve the enabling domestic environment for businesses to flourish. A statement released by the Special Adviser to the President on Media and Publicity, Femi Adesina… Read More
ECONOMY HEADLINES
THE SUN
Federal Government Blames Oil Theft, Fuel Subsidy for Poor Budget Performance
Federal Government has blamed the theft of crude oil and subsidy payment for Premium Motor Spirit ( PMS) for the poor performance of the 2022 budget. Minister of Finance, Zainab Ahmed, stated this, yesterday, when she appeared before the House of Representatives Committee on Finance, in the ongoing defense of the 2023 budget proposal by Ministries, Departments and Agencies (MDA)… Read More
Nigeria’s External Debt Rises to $40bn in 7 years –DMO Report
The Debt Management Office external debts stock report has shows that Nigeria’s total external debt has risen from $10.32 billion on June 30, 2015, to $40.06 billion as at June 30, 2022. This shows that there has been an increase of 288.18 per cent in seven years. A breakdown shows that in 2015, 36 states had $3.27 billion external debt while the Federal Government had $7.05 billion… Read More
THIS DAY
World Bank: Currency Depreciations Risk Intensifying Food, Energy Crisis in Nigeria, Other Developing Economies
The shrinking value of the currencies of most developing economies like Nigeria is driving up food and fuel prices in ways that could deepen the food and energy crises that many of them already face, the World Bank said yesterday. In its latest Commodity Markets Outlook report, the World Bank noted that in US dollar terms, the prices of most commodities have declined from their recent peaks… Read More
POLITICAL HEADLINES
THIS DAY
Federal Government: Nigeria Won’t Be Stampeded By US, UK Travel Advisories
The Nigerian government, yesterday, reacted, yet again, to the updated travel advisory by the United States Department of State and the United Kingdom for their citizens to reconsider traveling to Nigeria due to terrorism and general crime, saying it would not be stampeded by whatever any foreign government tells its citizens. Minister of Information and Culture Minister… Read More
PUNCH
2023: Lagos, Kano, Kaduna, Rivers Voters Top INEC Register
The Chairman of the Independent National Electoral Commission, Prof. Mahmood Yakubu, on Wednesday, announced that the voter register had swollen up to 93.5m. Analysis of the preliminary register reveals that Lagos, Kano, Kaduna, Rivers, Katsina and Oyo states have the highest number of registered voters. A breakdown indicates that Lagos has 7.57 per cent; Kano, 6.34 per cent… Read More
TECHNOLOGY HEADLINES
GUARDIAN
As Nigeria’s Broadband Development gets New Attention
The economic impact of broadband penetration has been found to be quite impressive. In fact, World Bank studies show, quite conclusively, that in low and middle–income countries, every 10 percentage point increase in broadband penetration accelerates economic growth by 1.38 percentage points. Notably, the disparity in access levels in homes in Nigeria remains a concern… Read More