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21 June 2018 ( Lagos ) : Nigeria’s debt rises to N22.7trn in Q1 2018 - DMO: The nation’s total public debt increased by 4.5% in Q1 2018, data from the Debt Management Office (DMO) showed on Wednesday. The public debt increased from N21.7trn (US$71bn) in December 2017 to N22.71trn (US$74.3bn) at the end of the first quarter of 2018. (Source: Punch)

 

2018 Budget difficult to implement with NASS’ alterations, says Buhari: President Muhammadu Buhari on Wednesday lamented that the 2018 Appropriation Bill which he signed into law would be difficult, if not impossible, to implement because of the alterations members of the National Assembly effected on the document he submitted to them on November 7, 2017.(Source: Punch)


 Seplat, 19 others push market cap below N14tn: The stock market extended its decline on Wednesday as 20 companies led by Seplat Petroleum Development Company Plc recorded losses at the close of trading on the Nigerian Stock Exchange.(Source: Punch)


Presidents of Nigeria and Niger to sign refinery construction pact: The Presidents of Nigeria and the Republic of Niger will next month sign a Memorandum of Understanding for the construction of a new 100,000b/d refinery that will be located in the border town of the two countries. (Source:Punch)


 Dangote Cement shareholders approve N10.5 dividend payment: Shareholders of Dangote Cement on Wednesday approved the dividend payout of N10.50 per 50 kobo share, representing 90 per cent of net profit and an increase of 23.5 per cent over the N8.5 per share paid last year.(Source: Punch)


 Farmers earned N73.24bn from agric exports in three months: The sum of N73.24bn (US$202.8m) was earned by farmers in the country between January and March this year through the export of agricultural products. Figures obtained from the National Bureau of Statistics (NBS) on Wednesday showed that the export value of N73.24bn (US$202.8m) was N28.54bn (US$79m) or 63.8% higher than the N44.7bn (US$123.7m) recorded in the fourth quarter of 2017. (Source: Punch)

 

Naira up to N361.18 /$ as CBN injects $210m: The Naira yesterday appreciated by 7 kobo to N361.18 per dollar in the Investors and Exporters (I&E) window even as the Central Bank of Nigeria (CBN) injected $210 million into various  segments of the foreign exchange market.(Source:Vanguard)


 Oil prices rise ahead of OPEC’s June 22 meeting: Oil prices rose in early Asian trading on Wednesday, supported by a drop in U.S. commercial crude inventories reported by the American Petroleum Institute (API).(Source:Vanguard)

 

NBS, SMEDAN collaborate on MSMEs database: The National Bureau of Statistics (NBS) and Small and Medium Enterprises Development Agency (SMEDAN) are set to undertake a national survey to identify challenges facing the Micro, Small and Medium Enterprises in the country and provide a database for them.(Source: Vanguard)

 

Nigeria’s low tax rate inconsistent with lifestyles, spending habits of citizens: Citing inconsistencies in the country’s tax rate and lifestyles of many Nigerians, the Federal Government has reiterated its stance on prosecuting defaulters at the end of the extended deadline for the Voluntary Assets and Income Declaration Scheme (VAIDS) on June 30.(Source: Guardian)

 

NNPC to begin refineries’ maintenance by Dec – Kachikwu: The federal government said it will shut down the three refineries and begin turnaround maintenance on them by December 2018. (Source: Daily Trust)


Nigeria's President Buhari signs off on record 2018 budget: Nigeria’s president signed a record N9.12trn (US$29bn) budget for 2018 into law on Wednesday but said he would use a supplementary spending plan to seek changes, creating uncertainty about the final details of his growth strategy. (Source: Reuters)





Reporting for EasyKobo on Thursday, 21 June 2018 in Lagos, Nigeria

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