Top Financial News   

04 October 2018


Oil price jumps to $86, Putin blames Trump: The international oil benchmark, Brent crude, rose above $86 per barrel on Wednesday, as traders considered reported declines in Iranian exports due to pending United States’ sanctions.(Source:Punch)

 

CBN gives reasons for external reserves’ fall: The Central Bank of Nigeria has given reasons why the nation’s external reserves, which currently stand at $44bn, have been on a downward trend lately.(Source:Punch)

 

NNPC, others move to improve oil sector output: According to the Nigerian National Petroleum Corporation, the Petroleum Equalisation Fund and other agencies under the ministry, the adequate digitalisation of the oil and gas sector will lead to significant improvement in monitoring, predictive maintenance and operation optimisation.(Source:Punch)

 

Manufacturing sector maintained growth in September –CBN: The Manufacturing Purchasing Managers Index in the month of September stood at 56.2 index points, indicating expansion in the country’s manufacturing sector for the 18th consecutive month.(Source:Punch)


Equities’ return declines to -15.14%: Nigerian equities continued on the decline yesterday at the Nigerian Stock Exchange (NSE) with a near tit-for-tat trading session shaving off N94 billion from the market value of quoted equities. With average decline of 0.79 per cent yesterday, the average year-to-date return for Nigerian equities worsened to -15.14 per cent.(Source:The Nation)


Ibadan DisCo loses over N1b to energy theft monthly:  It is worrisome that the power sector situation is not getting better. This is made worse by the unpatriotic attitude of some consumers, who would not want to pay for what they consume, the Team Lead Revenue Protection, Ibadan Electricity Distribution Company (IBEDC) Plc, Jude Ugwuoke, has said.(Source:The Nation)


 NEPC canvasses sustainability in local commodity export: The Nigerian Export Promotion Council (NEPC), said sustainable  export of local commodities will  boost the nation’s economy.(Source:The Nation)


 



CBN Intervenes with Fresh $210m:  The Central Bank of Nigeria (CBN) has again injected the sum of $210 million into the interbank foreign exchange market.(Source:Thisday)


 

World Bank Cuts Nigeria’s Growth Projection to 1.9%: The World Bank has once more reduced its growth projection on Nigeria in 2018 to 1.9 per cent, down from the 2.1 per cent it had estimated for the country in April.(Source:Thisday)


FG cuts MSMEs registration cost by 50%:  The federal government has approved a 90-day special window, from October 1 to December 31, 2018, for Micro, Small and Medium Enterprises (MSMEs) to register their business at 50 percent reduction in cost from N10,000 to N5,000.(Source:Vanguard)

 

Investments in telecom sector now grow at $5bn per quarter — NCC:  Nigerian Communications Commission, NCC, has said investments in telecoms sector now grow at about $5 billion every quarter.(Source:Vanguard)


DMO offers October FGN bonds at 12% interest rate:  As part of the capital boost for the 2018 Budget, the Debt Management Office (DMO) is offering two and three years savings bonds for the month of October at 11.2% and 12.2% interest rates respectively.(Source:Daily Trust)


Reporting for EasyKobo on Thursday , 04 October 2018 in Lagos, Nigeria

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