THISDAY
Nigeria’s GDP Slows to 2.11% in Fourth Quarter as Oil Sector Contracts
Nigeria’s real Gross Domestic Product (GDP) growth rate declined to 2.11 per cent in the fourth quarter of last year compared to 2.84 per cent in the third quarter, according to the National Bureau of Statistics (NBS).[Read More…]
FG, States Mull Retreat on Alternative to Naira Devaluation
The federal government and 36 states governors are considering organising a retreat to consider alternatives to the devaluation of naira which the presidency and the Central Bank of Nigeria (CBN) have completely rejected.[Read More…]
NAICOM Issues Operational Licence to Stanbic IBTC Insurance Brokers
The National Insurance Commission (NAICOM), has granted operational licence to the Stanbic IBTC Insurance Brokers to commence insurance services in Nigeria.[Read More…]
President Approves NNPC’s Restructuring into Seven Units, 20 Companies
President Muhammadu Buhari has approved the restructuring of the Nigerian National Petroleum Corporation (NNPC) into seven new divisions, Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, announced on Tuesday at a press briefing in Abuja.[Read More…]
NNPC Shut
Offices of the Nigerian National Petroleum Corporation (NNPC) have been shut nationwide, according to an online news portal, The Cable.[Read More…]
Dangote Group Controls 43% of Nigerian Stock Market
Africa’s richest man and President, Dangote Group, Alhaji Aliko Dangote, controls 43 per cent of the Nigerian stock market, THISDAY checks revealed on Monday. Dangote, Mike Adenuga Jr, Femi Otedola, Folorunsho Alakija, and Abdulsamad Rabiu recently made the list of Forbes 2016 world’s billionaires.[Read More…]
FBNQuest Launches Equity, Eurobond Funds
In a bid to proactively address the need for credible alternatives to invest local and dollar-denominated funds, the Asset Management business of FBNQuest (a part of the FBN Holdings Group), has launched two new mutual funds – the FBN Nigeria Smart Beta Equity Fund and the FBN Nigeria Eurobond (USD) Fund.[Read More…]
THE NATION
Nigeria records 21.6% foreign portfolio deficit amidst forex strain
Foreign portfolio investments (FPI) in Nigeria have continued to dwindle as latest investment report indicates that Nigeria recorded about 21.6 per cent foreign portfolio investment deficit in January 2016.[Read More…]
DAILYTRUST
FG plans 50,000-hectare grazing reserve in 6 months
The Minister of Agriculture, Chief Audu Ogbeh, yesterday said in order to stop the perennial conflicts between herders and farmers, the federal government had decided to grass-up 50,000 hectares of land in the next six months across the northern belt.[Read More…]
…Reps oppose unbundling of NNPC
The House of Representatives yesterday opposed the unbundling of the Nigerian National Petroleum Corporation (NNPC) describing it as unconstitutional.[Read More…]
FG, Switzerland agree on repatriation of $321m Abacha loot
The Federal Government and the Swiss Government have signed an agreement that would facilitate the repatriation of the N63.9 billion ($321 million dollars) looted funds stashed in Swiss banks.[Read More…]
LEADERSHIP
JAIZ Bank Concludes Plan To Open 10 Branches By Year End
Jaiz Bank Plc, the pioneer non-Interest (Islamic) bank in Nigeria, has concluded plans to go national, its management has said.[Read More…]
Ireland Returns 5 Containers Of Beans Exported From Nigeria
Five containers of beans exported from Nigeria to the Republic of Ireland have been rejected and returned by the importers after the products were received with heaps of weeviles.[Read More…]
REUTERS
China anxiety hits stocks, oil still shaky
Sharp losses in Chinese stocks pulled Asian equities further away from two-month highs on Wednesday as weak trade figures from the world’s second-biggest economy and wobbly oil prices revived concerns about global growth.[Read More…]
BLOOMBERG
Norway Wealth Fund Gains $39 Billion in 2015 as Stocks Recover
Norway’s sovereign wealth fund, the world’s biggest, gained 334 billion kroner ($39 billion) last year after a bet on stocks paid off thanks to a year-end equity rally.[Read More…]