Business

NNPC Towers: P&ID and the Petroleum ministry signed the contract here

NNPC to begin publishing details of fuel supplies

The NNPC says it supports Nigeria’s agenda to open ‘beneficial ownership’ register by December 31.

President Muhammadu Buhari [Photo: Presidency]

IMF backs Buhari on VAT increase

The IMF wants the CBN to revisit its directive to banks on lending.

World Bank

World Bank cuts sub-Saharan Africa’s 2019, 2020 growth forecast

The World Bank says the region’s economy was expected to grow 2.6 per cent this year, from a 2.8 per cent projection in April.

VAT: How we’re protecting small businesses — Official

President Buhari says tax authorities will “focus their compliance efforts on larger businesses”.

President Muhammadu Buhari presenting 2020 budget [PHOTO CREDIT: @OfficialPDP]

Nigeria to spend a quarter of 2020 budget on debt payment

Debt servicing is featuring prominently in the N10.3 trillion budget announced by President Buhari on Tuesday.

Palm trees used to illustrate the story

Imported products killing our businesses, Palm oil dealers lament

“A twenty-five litres of oil which used to sell for N19,000 and upward during off-seasons that starts from June to December, now sells for N14,000 and downward.”

BUA Managing Director, Kabiru Rabiu

BUA managing director named best young African economic leader

Mr Rabiu, who oversees operations of Bua Group’s diverse business interests, topped the rank of 100 CEOs.

Director-General, Debt Management Office, DMO, Patience Oniha

FG begins sale of saving bonds for October

The bonds two and three years bonds were offered at 11.244 per cent and 12.244 per cent, respectively.

Nigeria Stock Exchange (NSE)

Nigeria stock market indices slump further by 0.45 per cent

The market capitalisation lost N59 billion or 0.45 per cent to close at N13.078 trillion against N13.137 trillion.

The 25th edition of the Nigerian Economic Summit, #NES25. [PHOTO CREDIT: NES25 official twitter handle]

#NES25 opens to discuss private sector-led economy for Nigeria by 2050

The theme of #NES25 will be “Nigeria 2050: Shifting Gears.”

NAICOM

Insurance Sector Life Annuity Fund Portfolio hits N323bn – NAICOM

The official says the growth during the last three years for RLA business averaged 34.28 per cent and 35.12 per cent in count and volume respectively

Globacom

Glo offers subscribers rewards in ‘My Own Don Beta’ promo

The company says the items include tricycles, popularly called Keke, industrial sewing machines, grinding mills, and generators.

Central Bank of Nigeria (CBN)

Forex intervention: CBN injects $311.5 million into retail SMIS

The CBN also made intervention of 15 million Chinese Yuan

Nigerian Stock Exchange Trading floor [Photo: blogs.cfr.org]

NSE: All-Share Index drops to 26,000 mark again

The All Share index lost 98.45 points or 0.36 per cent to close lower at the mark.

Hewlett-Packard Enterprise [PHOTO CREDIT:The Straits Times]

Computer firm, HP, plans to cut up to 9,000 jobs

The planned job losses would reduce the company’s global workforce by about 16 per cent.

The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria November 9, 2016. REUTERS/Afolabi Sotunde

Profit taking persists on NSE, market capitalisation loses N111bn

The market capitalisation dropped amidst sell pressure in blue chips.

Babatunde Fowler, FIRS Chairman

FIRS targets 45 million tax payers by December – Fowler

The FIRS boss says the figure will result from the expansion of tax base from 10 million taxpayers.

Senate President, Ahmed Lawan. [PHOTO CREDIT: Official Twitter handle of the Senate President]

Senate approves MTEF, raises oil benchmark to $57

The MTEF and FSP are documents that provide the framework of designing a budget as enshrined in section 11(3) of the Fiscal Responsibility Act, 2007.

Central bank of Nigeria (CBN)

CBN mandates banks to give out more loans

The CBN says banks that fail to attain a stipulated minimum LDR by December 31 this year will be sanctioned.

Corporate Affairs Commission (CAC) Head Office

Economy: World Bank ranks Nigeria among ‘Top 20 Improvers’ in ease of doing business

The World Bank is expected to release the full report later this month.

Nigerian economy improved slightly in 2016, but remains in recession -- NBS [Photo Credit: naija247news.com]

Why Nigeria’s economic growth is slow – Report

“It is clear that the estimates, projections and expectations for GDP growth have been significantly different from the actual outcome.”

Radical changes Nigeria needs to drive growth — Soludo

Mr Soludo says Nigeria’s future without oil will be powered by the country’s greatest assets – human capital and technology.

Oil rig used to illustrate the story.

Oil prices recover on lower output from U.S., Russia, OPEC

Oil prices are likely to remain steady, with Brent averaging 65.19 dollars a barrel and WTI 57.96 dollars in 2019, as flagging demand outweighs supply shocks, a Reuters survey showed.

nigerian_stock_exchange

NSE: Indices record 0.16 per cent in last trading day of September

The market capitalisation shed N22 billion to close at N13.450 trillion in contrast with N13.472 trillion on Friday.

Air Peace Aircraft

Air Peace gets approval to operate daily flights to South Africa

Flights are to start “as soon as possible.”