Headlines news – First Ideas Limited

Headlines news

Paris Club refund: Why NGF is kicking against deductions – Spokesman

As the controversy over deductions from the Paris Club refund by the federal government rages on, the Nigeria Governors Forum (NGF) has described the insistence on such deductions by Abubakar Malami, attorney general of the federation and minister of justice, as “curious”.

Buhari will escape impeachment, but not history’s harsh verdict

Like the Sword of Damocles, the threat of impeachment is hanging over President Muhammadu Buhari’s head. Two weeks later, on July 28, some senators, led by the Senate minority leader, Phillip Aduda, emerged from a closed-door session to give President Buhari six…

Nigeria’s headline inflation rises to 19.64% in July, highest in 16 years

Nigeria’s Consumer Price Index(CPI) otherwise known as the headline inflation sustained its upward movement as it rose to 19.64 percent in July 2022 on a year on year basis compared with 17.38 percent in July 2021. This is the highest inflation figure since October 2005 when inflation was 24.3 percent, Nigeria’s..

Investors are largely interested in finance solutions

Investors are largely interested in finance and finance-related solutions because of its centrality to society. This was one of the resolutions established at a panel held on July 28, the fourth day of the Lagos Startup Week with thought leaders including Olu Akanmu, co-CEO of OPay, and Nefe Etomi, strategy and finance..

‘Chinese President to triple African exports to China by 2024’

With the intention of facilitating growth and promoting cooperation between China and Nigeria, the Chinese Lagos Consulate-General has called for more trade connections between both countries. Speaking at the 2022 Stanbic IBTC African-China Expo, Guo Pengwen, the Chinese consulate-general Lagos…

Presco, Dangote Sugar, others cause market’s negative start to new week

Nigeria’s equities market opened this week on a slightly negative note (-0.01percent). Investors lost about N19billion at the close of trading on Monday August 15. The market’s performance indicators – the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation decreased from 49,664…

Nigeria’s N9tn Oil Revenue Threatened, FG Blames Theft

 Nigeria’s oil production slumped by 28 million barrels between January and July 2022, threatening the Federal Government’s N9.37tn oil and gas revenue target by the end of the year. Source Punch Read More

Nigeria’s Domestic, External Debt Service Gulps N15.22trn in 10 Years

 Nigeria in the past 10 years has spent a whopping sum of N15.22trillion to service its domestic and external debts, data gathered by THISDAY on the official website of Debt Management Office (DMO) has revealed. Source THISDAYLIVE Read More

Oil Prices Ease as Aramco Says Ready to Boost Crude Output

 Oil prices dropped for a second session on Monday after the head of the world’s top exporter, Saudi Aramco, said it is ready to ramp up output while production at several offshore U.S. Gulf of Mexico platforms is resuming after a brief outage last week. Source Reuters Read More

 

 

MTN Nigeria Plc H1 2022 Result: Working on MoMo Moments, Topline Earning up 20.07%

 Telcos are taking a front-row seat in financial payments and settlements as more companies apply for payment service bank (PSB) licenses. In Nigeria, MTN Nigeria was the first to receive a PSB license. Source Jariyat Bakare, Proshare Research Read More

IEA Cuts Nigeria’s Sustainable Oil Output Capacity By 200,000bpd

 – Citing technical lapses and security threats, the International Energy Agency (IEA) has cut Nigeria’s sustainable oil output by about 200,000 barrels per day (bpd). Source LeadershipNG Read More

Lekki Deep Seaport set for completion – Transport Minister

 – following the successful delivery of the first set of Super Post Panamax State-of-the-art Ship to Shore, STS, Cranes and 10 Rubber Tyred Gantries, RTGs, on July 1, 2022, the Lekki Deep Seaport is set to be completed on schedule ahead of commencement of operations before the end of the year 2022. Source Vanguard Read More

Saudi Aramco Records $48.4bn Profit in Q2, declares $87.9bn in 6 Months

– Aramco, the national oil company of Saudi Arabia, has announced a 90 per cent rise in its net income to $48.4 billion for the second quarter of this year and recorded $87.9bn in the first six months. Source Daily Trust Read More

Hackathon: CBN, AFF to Assist 10 Startups to Increase eNaira Adoption

– According to Daniel Awe, Head of AFF, 5,000 participants from the finance community applied for the hackathon and were cut to roughly 175 teams. 70 will head to the quarterfinal pitching. Source TechEconomy Read More

How Regulations Can Support the Growth of Nigeria’s Islamic Fintech Industry

– The right mix of enabling regulations and innovative products from Islamic fintech firms can accelerate the growth of the Halal Market and other segments of the non-interest finance industry. Source Bukola Akinyele-Yisau Read More

 

FranklinCovey enters exclusive partnership with Teesas in Africa

 – FranklinCovey Education, the global leadership coaching company, has entered an exclusive partnership with Teesas to deliver its suite of education-related products directly to students, schools, and parents across Africa. Source Teesas Read More

Q1 2022: Insurance Sector Records 6.2% Growth, 15% Market Size Expansion

– The National Insurance Commission (NAICOM), has said that in spite of macro-economic challenges which has bedeviled businesses in Nigeria, insurance sector recorded a year-on-year growth rate of 6.2 per cent at the end of March 2022. Source THISDAYLIVE Read More

 

 

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