Top Financial News   

15 October 2018

Debts: Nigeria has room to borrow more, says minister: Nigeria still has ample room to borrow more whenever it needs to do so.(Source:Punch)


FG to review power firms’ performance next year: The review of the performance of the electricity distribution companies carved out of the defunct Power Holding Company of Nigeria will take place before December 2019.(Source:Punch)


NERC considers limiting estimated billing by power firms: As the outcry from electricity consumers over ‘crazy’ bills continues to rage almost five years after the privatisation of the power sector, the Nigerian Electricity Regulatory Commission is considering putting limits on estimated billing.(Source:Punch)


Stable exchange rate best choice for Nigeria – Emefiele:  The Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, has said that maintaining stable exchange rate to avoid depreciation of the naira is better than building foreign reserve buffers.(Source:Punch)


SEC allays fears of stock market downturn: The acting Director General, Securities and Exchange Commission, Ms Mary Uduk, has assured investors in the capital market that there is nothing to fear regarding the performance of the market as the 2019 election approaches.(Source:Punch)


We will address hitches in pension payment – NASS: The National Assembly has said that it will immediately wade into the pension challenges that Nigerian retirees are grappling with and ensure that the prolonged problems are solved.(Source:Punch)


Nigeria’s daily oil production rises to 2.16 million barrels: The nation’s production of crude oil, including condensate, rose to 2.16 million barrels per day last month, the highest level so far this year, the Ministry of Petroleum Resources has said.(Source:Punch)


Niger Republic dumps Nigeria, opts for Ghana, Cotonou ports: The Shippers Council of Niger has jettisoned a Memorandum of Understanding it entered into with the Nigerian Shippers’ Council to ship transit cargo through Nigeria.(Source:Punch)

Lokpobiri: Farmers Lose $9bn Annually to Inadequate Storage, Processing: Minister of State for Agriculture and Rural Development, Senator Heineken Lokpobiri has expressed regret that the country currently loses over $9 billion annually to post-harvest wastages as farmers lack to adequate processing and storage facilities.(Source:Thisday)


All-Share Index Gains 0.23% as Equities Market Rebounds: The Nigerian equities market rebounded last week on bargain hunting in bellwether stocks. Consequently, the Nigerian Stock Exchange (NSE) All-Share Index (ASI) rising 0.23 per cent to close at 32,456.98. The positive performance of the Nigerian bourse is encouraging considering the fact the market global equities markets closed negatively.(Source:Thisday)


NDLEA Nabs 4,736, Intercepts 80 tonnes of Drugs in Eight Months: The National Drug Law Enforcement Agency (NDLEA) has arrested 4, 736 persons for suspected involvement in drug trafficking between January and August 2018.(Source:Thisday)


Telcos Set to Drive Financial Inclusion, Inaugurates Committee:  Nigeria’s major telecoms operators, Globacom, 9Mobile, Airtel, MTN Nigeria, and ntel, have inaugurated the Telecommunications Financial Inclusion Committee, and also laid out the roadmap for deepening financial inclusion and financial literacy across Nigeria.(Source:Thisday)

FG rejects IMF’s recommendation on taxes: In response to the International Monetary Fund’s recommendation that Nigeria increases its revenue through tax, Finance Minister Zainab Ahmed has said the country has no plans to effect any such hike.(Source:Daily Trust)


FG saves huge funds from public finance reforms, says Accountant-General:  The Accountant-General of the Federation, Mr Ahmed Idris, has said the public finance reforms initiatives had led to huge.(Source:Daily Trust)


Airlines, banks, others lose N3bn to MMA2 shutdown: An estimated N3bn may have been lost to the two-day shutdown of the Murtala Muhammed Airport private terminal (MMA2) operated by Bi-Courtney Aviation Services Limited (BASL), it was learnt.  (Source:Daily Trust)

Trade between India, Nigeria hits $20b: There are over 135 Indian companies with a networth in excess of over $10 billion in Nigeria. This, to India Minister of State for External Affairs Mr. Shri  Akbar, shows that the long standing relationship between Nigeria and India is not only on the upswing but also gathering momentum.(Source:The Nation)

Reporting for EasyKobo on Monday ,15 October 2018 in Lagos, Nigeria

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