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Archives - April 2017


DAILY BUSINESS NEWS BRIEF – CBN sells dollar at N360 to BDCs

NEITI begins oil sector audit for 2015, 2016 Nigeria, China to raise bilateral trade FG to use drones for mapping, surveying FG set to establish satellite industrial centres NCC gives operators 14 days to quit wireless frequency MAN okays govt’s economic recovery plan Investments return with $20bn in oil sector – Barkindo We’ve enough dollars …


DAILY BUSINESS NEW BRIEF – Nigeria needs reforms to prevent exchange rate crisis — W/Bank

  World Bank earmarks $150m to support Nigeria mining sector Nigeria’s revenue can’t sustain interest payment on debt – W’Bank Foreign borrowing’ll increase debt service burden — NBCC World Bank to inject $200m into Nigeria’s Agric sector Nigeria, S/Africa recovery slow due to uncertainty, low commodity prices – W/Bank Nigeria, U.S. trade hits $1.36b in …


DAILY BUSINESS NEWS BRIEF – CBN disburses $280m to SMEs, BDCs, others

Nigeria needs adjustment over oil price, says IMF IMF advises CBN to adopt flexible exchange rate IsDB, Nigeria partner on science, innovation, food security FG raises panel on new Lagos-Ibadan rail construction Domestic carriers’ staff strength drops by 50% Dangote Flour divests from Noodles, cedes assets to Dufil Electronic Transactions Hit N40.5trn In 2016 – …


DAILY BUSINESS NEWS BRIEF – Nigeria seeks $3bn from World Bank, AfDB, others

World Bank disburses $13.63bn loans, grants to Nigeria 2017 budget: FG to delay green bond sale India loses spot as Nigeria’s biggest oil buyer Nigeria will come out of recession by Q2, says NESG FG sets up industrial policy, competitiveness council Govt owes multinationals $10b in crude oil over-lift AFC issues $500m Eurobond, attracts 231 …


DAILY BUSINESS NEWS BRIEF – NNPC reduces trade deficit by 16%

External Reserves Rise By $95.9m In 7 Days FG to block N52bn annual leakage with tomato policy Nigeria sold $6.7bn less crude in 2016 – Report Power generation drops to 108MW over heavy rainfall, others Task force to implement economic recovery plan – FG CBN directs banks to remit 5% of PAT into Agro/SME investment …


DAILY BUSINESS NEWS BRIEF – Power firm plans to export electricity from Nigeria

IMF Revises Nigeria’s Growth Outlook Upwards FIRS raises N3.3tr in tax revenue FG to Pump N3trn into Bank of Agriculture Nigeria loses N10bn monthly to lack of activity at Tin Can Port II Nigeria, others to export 1.48m barrels of oil to China Power Supply Drops Consistently for Two Weeks No import licences for debtor …


DAILY BUSINESS NEWS BRIEF – CBN to sustain forex intervention, releases fresh $418m

  Nigeria’s economic recession slows growth in Chad, Niger – IMF NPDC owes federation $5.531bn, N72.435bn, says NEITI CBN’s $418m forex, T-Bills auctions tighten liquidity Cost of funds rises as market liquidity drops to N96bn Fitch: Crude Oil Prices to Average $52.50/b this Year Dollar purchases raise interbank rate to 14.5% 2017 budget: Fresh requests, …

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