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Daily Business News Brief – September 21st, 2022

21
Sep

Stakeholders Back Bills to Enhance Capital Markets, Investor Protection, Others – Thisday
The Securities and Exchange Commission (SEC), the Chartered Institute of Stockbrokers and other stakeholders in the Nigerian capital market have backed a bill to prohibit Ponzi and pyramid schemes as well as other illegal investment platforms in Nigeria…………Read More
Nigeria’s Domestic Debt Service Raises to N5.24trn in 30 Months – Thisday
With mounting domestic debt now standing at N20.95trillion as of June 2022, Nigeria’s domestic debt service rose to N5.24trillion in 30 months, data on the Debt Management Office (DMO) website has revealed.  The latest report by DMO revealed that domestic debt service in first quarter of 2022 was at N664.73 billion, representing 0.6 per cent decline from N668.69billion in second quarter of 2022…………..Read More
Cooking Gas Price Soars by 119.26%, Higher in Ebonyi, C’River, Delta – Punch
The average retail price for refilling a 12.5kg cylinder of Liquefied Petroleum Gas, also known as cooking gas increased by 119.26 per cent, year on year (Y-o-Y) to N9,899.34 in August 2022 compared to N4,514.82 in August 2021, according to data from the National Bureau of Statistics (NBS).  Ebonyi recorded the highest average retail price for the refilling of a 12.5kg cylinder of cooking gas with N11,225.00, followed by Cross River N10,982.14, and Delta with N10,965.42………….Read More
Aircraft crisis persists as airlines struggle for forex – Thisday
Domestic airlines may suffer forced depletion of aircraft following the struggle of local carriers to raise enough foreign exchange to run checks and conduct comprehensive maintenance of their fleets overseas.  In light of this latest development, aircraft ferried overseas would be forced to remain in various maintenance facilities until the airlines are able to source funds to pay for their repairs and subsequent return to service in Nigeria………..Read More
Experts predict interest rate hike as inflation surges – Daily Independent
In the wake of Nigeria’s rising inflation, economists have said that interest rates may hit an all-time high.  Earlier reports showed Nigeria’s inflation rate rose by 20.52 per cent in the month of August 2022, the highest since September 2005. There are speculations that the new figure might trigger an increased interest rate.  Interest rates and inflation often follow the same direction, according to economists……..…..Read More
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