PUNCH
FG to raise N80bn in 2020, 2024 bonds
he Federal Government is planning to issue N80bn ($400m) worth of local currency denominated bond with maturities range between five and 10 years on October 14, the Debt Management Office has said.[Read More…]
Large-scale farming vital for commodities market growth – Expert
For the Nigerian commodities market to achieve the desired growth and positively impact the economy, it is important for the country to encourage large-scale farming, an expert has said.[Read More…]
Electricity union threatens to shut Egbin power plant
The National Union of Electricity Employees has issued a two-week ultimatum to the management of the Egbin Power Plant in Ikorodu to rehabilitate the vandalised staff quarters or risk a shutdown of the plant.[Read More…]
50 French companies show interest in Nigeria
Fifty French companies have indicated interest in the Nigerian capital market and the development of the country’s economy.[Read More…]
THISDAY
Customs Orders Immediate Removal of Restriction on Rice Import
The Comptroller-General of Customs, Col. Hameed Ali (rtd), has ordered the immediate removal of rice from import restriction list and the re-introduction of import duty payment at land borders.[Read More…]
House to Investigate N5tn AMCON Debt, Shortfall in Non-oil Revenue
The House of Representatives on Wednesday resolved to investigate what it said is the undue accumulation of debts by the Asset Management Company of Nigeria (AMCON) amounting to N5 trillion, in excess of its N800 billion debt ceiling.[Read More…]
IMF Cuts Nigeria’s GDP Growth Forecast to 4%
The International Monetary Fund (IMF) has forecast a four per cent growth rate for Nigeria’s Gross Domestic Product (GDP) in 2015, as the country continues to contend with the challenge of declining income from the drop in crude oil prices.[Read More…]
PTAD Ends over 40 Years Wait for Police Pensioners
Pension Transitional Arrangement Directorate (PTAD) has said it has put an end to the endless waiting for 750 pensioners made up of 529 regular police retirees and 221 Next of Kin (NOKs) who have never been paid any pension or gratuity for upward of 10 years after retirement.[Read More…]
GUARDIAN
FMDA, INTL FCSton task Nigerians on commodity markets
WORRIED by Nigerians’ low level of knowledge in commodity markets and risk management, the Financial Markets Dealers Association (FMDA), in collaboration with INTL FCStone (UK) has stressed the need to be properly informed about financial markets and risk management in order to improve the nation’s Gross Domestic Product (GDP) and encourage export.[Read More…]
Africa faces challenge of sustaining growth in weak global economy
The World Bank Group has predicted that growth will slow in 2015 to 3.7 percent from 4.6 percent in 2014, reaching the lowest growth rate since 2009, according to new World Bank projections.[Read More…]
ECA seeks policies for industrial growth
S trade continues to play a vital role in Africa’s economic growth performance, its potential to induce industrialisation may not be realised if trade policies that could promote value-added activities are not designed and implemented, latest Economic Report on Africa by the Economic Commission for Africa (ECA) has shown.[Read More…]
THE NATION
Energy sector leads wealth creation, industrialisation
Nigeria has made tremendous progress in the energy sector over the past 55 years despite the challenges in the sector. Starting from a production of 5,100 barrels of oil per day (bpd) in 1958, its current production stands at over two million bpd. Nigeria still leads in hydrocarbon development and remains the oil and gas hub in the Gulf of Guinea.[Read More…]
Fed Govt loses N7b to CBN’s forex policy
The exclusion of some items from foreign exchange (forex) transactions by the Central Bank of Nigeria (CBN) has affected the revenue generation profile of the Nigeria Customs Service (NCS).[Read More…]
Debt cripples gas supply to power
The huge debt incurred by operators in the gas value chain, is hindering electricity generation and distribution in the country, the Group Managing Director, Aiteo Power, Dr Ransome Owan has said.[Read More…]
REUTERS
Asia flags but China stocks jump in catch-up after long break
Chinese stocks surged on Thursday after a week-long break as they played catch-up with a global rally, while most regional markets retreated with Japanese equities hitting the skids on weak data.Read More…]
http://www.reuters.com/article/2015/10/08/us-markets-global-idUSKCN0S201Q20151008
Oil rebounds, shrugging off U.S. stockpile build
Crude oil futures rose in Asian trade on Thursday, shrugging off a surprise build in U.S. inventories as some Chinese traders returned after week-long National Day holidays.Read More…]
BLOOMBERG
German Exports Slump Most Since 2009 Recession in Sign of Risks
German exports slumped the most since the height of the 2009 recession in a sign that Europe’s largest economy is vulnerable to risks from weakening global trade.Read More…]