NNPC, marketers trade blames over dirty petrol
After the Nigerian National Petroleum Corporation (NNPC) issued a statement literally accusing some of the contractors it engaged to swap crude for petrol, these contractors are denying responsibility as they accuse the corporation of playing fast and loose with the truth.
CBN plans to drive $200bn non-oil exports
The Central Bank of Nigeria (CBN) and Bankers’ Committee on Thursday launched the “RT200 FX Programme,” an initiative that would drive some projected annual earnings of up to $200 billion from non-oil exports over the next three to five years.
Nigeria risks financial squeeze in medium term as debt piles- IMF
The International Monetary Fund (IMF) has warned that Nigeria’s decade-long rise in public debt could create both financial as well as revenue squeeze for the economy in the medium term. The Fund’s mission Chief for Nigeria, Jesmin Rahman in the IMF/Nigeria 2021 article IV consultation staff press conference.
Office market records worst performance in 5yrs with 45% vacancy rate
Prime office segment of the Nigerian real estate market recorded its worst performance in five years with vacancy rate remaining unchanged as at the second half of 2021, a new market report has shown. The report describes 2021 generally as the office market’s less than desirable period when the performance
Nigeria must shift from import substitution to reap benefits of AfCFTA – IMF
The International Monetary Fund has said that it has become imperative for Nigeria to look away from import substitution, as a tool to boost effective participation in the African Continental Free Trade Agreement (AfCFTA). Economists, speaking during the press conference on IMF/NIGERIA 2021 article.
Naira4Dollar boosts remittances by 1,566.6% says Emefiele
The Naira4Dollar Scheme introduced by the Central Bank of Nigeria (CBN) last year has helped to boost remittances by 1,566.6 percent from only $6 million per week to over $100 million weekly, Godwin Emefiele, governor of the CBN said on Thursday.
Investors Lose N41.82bn WoW as NGXASI Dips by -0.16% to Close the Week Negative
Equities market closed on a negative note, as NGXASI depreciated by -0.18% to close at 47,202.30 basis points as against +0.27% appreciation recorded previously. Its Year-to-Date (YTD) return currently stands at +10.50%.
Market breadth closed positive as GUINNESS led 19 Gainers as against 16 Losers topped by PHARMDEKO at the end of today’s session an unimproved performance when compared with previous outlook.
Market turnover closed positive as volume moved up by +57.23% as against -33.35% downtick recorded in the previous session. ACCESS, SOVRENINS and NGXGROUP were the most active to boost market turnover. NGXGROUP and SEPLAT topped market value list.
TANTALIZER leads the list of active stocks that recorded impressive volume spike at the end of today’s session.
GCR Accords Rating to MTN Nigeria Plc’s N89.999bn Series 2 Senior Unsecured Bonds; Outlook Stable
GCR Ratings has assigned a national scale long-term Issue rating of AAA(NG) to MTN Nigeria Communications Plc’s N89.999bn Series 2 Senior Unsecured Bonds. The Outlook on the rating is Stable.
|Rated Issue||Rating class||Rating scale||Rating||Outlook|
|N89.999bn Series 2 Senior Unsecured Bonds||Long Term Issue||National||AAA(NG)||Stable|