Nigeria’s 2023 borrowing plans at risk as creditors dry up
Nigeria faces an uphill task finding creditors to plug an N11 trillion hole in the proposed 2023 budget amid foreign investor apathy for the country’s debt instruments and rising domestic interest rates. The yield on Nigeria’s latest $1.25 billion Eurobond has jumped…
China, Nigeria’s biggest bilateral creditor, reduces lending
China, Nigeria’s biggest bilateral creditor, is reported to be scaling back lending in Africa amid its worsening growth woes. That comes at a time of rising interest rates globally and shrinking liquidity, factors that have already sent bonds of the riskiest African…
Heart failure could cost Africa, Middle East $1.9 billion – Researchers
A group of African experts in medical research has called for urgent action to reverse the steep rise in cases of heart failure spreading across the Middle East and Africa (MEA), estimating that the disease could cost up to $1.92 billion in terms of economic burden.
Nigeria’s brand value hits $241bn, highest in 3 years
The brand value of Africa s’ biggest economy rose to $241 billion in 2022, the highest in three years, from $236 billion in 2021, the 2022 Nation Brands report has shown. BusinessDay analysis of the report by Brand Finance, a London-based brand valuation consulting firm…
MPR: Expect Higher Prices, Unemployment, Manufacturers Tell FG
– The Manufacturers Association of Nigeria and the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture have warned the Central Bank of Nigeria that the recent increase in base lending rate will trigger higher prices of products. Source Punch Read More
Europe’s Declining Workforce Offers Opportunities For Nigeria – PwC
– PricewaterHouse-Coopers has said that as Europe’s workforce decreases, there are existing advantages for job opportunities for the Nigerian labour market. Source Punch Read More
Renewable energy jobs hit 12.7m globally
– Renewable energy is the industry of growth with worldwide employment put at 12.7 million last year, a jump of 700,000 new jobs in one year, according to Renewable Energy and Jobs: Annual Review 2022. Source The Nation Read More
Buhari To Present 2023 Budget To NASS On Friday
– Barring last-minute changes, President Muhammadu Buhari will on Friday formally present the 2023 budget estimates before the joint session of the National Assembly, Tribune Online gathered authoritatively. Source Tribune Read More
Geregu Power Plc to become First Power Company to List on the NGX on Oct 05, 2022
– Geregu Power Plc will on Wednesday, October 05, 2022 be admitted into the Main board of NGX by way of listing by Introduction (LBI) with the admittance of 2,500,000,000 of ordinary shares of 50 kobo each at N100 per share on the Exchange. Source Proshare News Read More
Central Bank Losses May Add to Sovereign Fiscal Pressures
– Rising interest rates and falling securities valuations have increased the likelihood of losses for developed market central banks that have engaged in asset-purchase programmes, says Fitch Ratings. This may affect their ability to contribute to government revenues, and there is a risk that in some cases sovereigns could be called upon to restore central bank equity positions. Source Proshare Research Read More
October 2022 FGN Savings Bonds Offer for Subscription
– Pursuant to the Debt Management Office (Establishment) Act 2003 and the Local Loans (Registered Stock and Securities) Act, CAP. L17, LFN 2004 Debt Management Office on behalf of the Federal Government of Nigeria Offers for Subscription and is authorized to receive applications for the Federal Government of Nigeria Savings Bond at the following interest rates. Source DMO Read More
The IOSCO World Investor Week Kicks off with a Call to Enhance Investor Education and Promote Investor Protection
– The International Organization of Securities Commissions (IOSCO) is celebrating the sixth annual World Investor Week (WIW) from 3 to 9 October 2022, focusing on innovations that are reshaping the marketplace, such as sustainable finance and crypto assets, and on the current challenging environment that requires enhancing investor resilience. Source IOSCO Read More
Plans Underway To Unbundle Railway Corporation For Competitiveness – Federal Govt
– The federal government, over the weekend, said it has concluded plans to unbundle the Nigerian Railway Corporation (NRC), to split the corporation into three different parts. Source Leadership Read More
Oil Prices Inch Higher Ahead of OPEC+ Meeting to Discuss Supply Cuts
– Oil prices inched higher in early Asian trade on Tuesday, on expectations that OPEC+ may agree to a large cut in crude output when it meets on Wednesday but concerns about the global economy capped gains. Source Reuters Read More
Nigerian CIOs Worried Over Rising Digital Threats, Data Breaches
– For Nigerian Chief Information Officers (CIOs), the consequences of a possible security breach are their number one concern as they look to navigate an increasingly-complex threat and regulatory landscape. Source Guardian Read More
Islamic Finance Market Weekly Review September 26th-30th, 2022
– For September 26th to September 30th, 2022, there were some key developments in the Global, Regional and Nigerian Islamic Finance Markets. Source WebTV Read More
FG warns against fake recruitment agencies for Nigeria Air
The federal government has announced that the attention of the Management of Nigeria Air Limited has been drawn to some recruitment advertisements and announcements by certain unscrupulous elements claiming to be agents or staff of the upcoming airline. James Odaudu, the Special Assistant, Public Affairs to…
FG opens portal for N75,000 education students’ bursary
The federal government has announced that a portal has been opened to students of education to register for bursary. Adamu Adamu, the minister of education announced this in line with the presidential approval of the sum of N75,000 per semester for Nigerian students undergoing degree programmes in…
Abia, Abuja top states with highest cost of preparing breakfast
Abia, Abuja, Edo and Ebonyi States recorded the highest costs of food items for preparing breakfast, a BusinessDay analysis of selected food prices report for August 2022 shows. According to a report by the National Bureau of Statistics (NBS), bread, a staple food item for breakfast in Nigeria, recorded its highest…
Government vehicles will be gas-powered on my watch – Peter Obi
Peter Obi, the presidential candidate of Labour Party, has said all government vehicles will be gas-powered if elected in 2023. Obi, in a series of tweets on Monday, shared what he said at the Fireside Chat event in Dearborn, Michigan, United States. “It will take only one visionary leadership and disruptive thinker…
International Breweries, others cause market’s negative start to new month
The bearish sentiment in Nigeria’s equities market is seen persisting as the market kicked off the new month on a negative note. The market closed in red on Tuesday, October 4, the first trading day of the new month as investors failed to buy into recent dip despite that the market offers them opportunity to take…
