Top Financial News   

19 October 2018

$12.7bn crude stolen from Nigeria in three years – Falana: Human rights lawyer and Senior Advocate of Nigeria, Femi Falana, on Thursday alleged that $12.7bn worth of crude oil was stolen from the country between 2011 and 2014.( Source:Punch)


FG trims budget size, proposes N8.6tn for 2019: The Federal Government on Thursday proposed a smaller budget size of N8.6tn for the 2019 fiscal year in contrast to N9.1tn for 2018.( Source:Punch)


NAICOM suspends insurance firms’ recapitalisation: The National Insurance Commission has announced the suspension of the implementation of its Tier-based Minimum Solvency Capital policy, otherwise known as the recapitalisation of the industry.( Source:Punch)


NNPC extends crude-for-product swaps until June 2019:  The Nigerian National Petroleum Corporation has extended its crude-for-product swap contracts, the country’s main avenue to meet the bulk of its fuel needs, until June 2019, Reuters quoted sources familiar with the matter as saying.( Source:Punch)


Air Peace, Embraer sign spare parts supply deal: Air Peace has signed a multi-year aircraft spare parts deal with Brazilian aircraft manufacturer, Embraer.( Source:Punch)


Kaduna, Enugu, Abia, Lagos, Anambra improving business regulations – World Bank: Five states – Kaduna, Enugu, Abia, Lagos and Anambra – have recorded the biggest strides in improving their business environments, a World Bank Doing Business in Nigeria report has revealed. ( Source:Punch)


Naira down to N364.33/$ in I&E window: THE, Naira, yesterday, depreciated to N364.33 per dollar in the Investors and Exporters (I&E) window even as the volume of dollars traded dropped by 78 percent.( Source:Vanguard)


NBS reports mixed development in cost of transport: Amidst mild increases in the national average prices of petrol and automotive gas (diesel), the National Bureau of Statistics, NBS, has reported a decline in    the average transport fare paid by passengers in September 2018.( Source:Vanguard)


Mining sector grew by 15% in 2017-Centre: The acting Executive Director of the African Centre for Leadership, Strategy and Development, Mr. Monday Osasah, has said the mining and quarrying sector has grown by 14.85 per cent from 10.7 per cent in Q4 2017.(Source:Daily Trust)


FG okays construction of 5,000-barrel Ikwe-Onna refinery, targets completion 2019: The Federal Government, through the Department of Petroleum Resources (DPR), has approved the construction of Ikwe-Onna Refinery to be located in Ikwe, Onna Local Government Area of Akwa Ibom State.(Source:Daily Trust)

No plan to sell Ajaokuta Steel Plant, says Osinbajo: Vice President Yemi Osinbajo has assured that there was no plan by the Federal Government to sell the Ajaokuta Steel Complex.(Source:The Nation)

Reporting for EasyKobo on Friday ,19 October 2018 in Lagos, Nigeria

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