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Nigeria in 1min: Economic, Business and Financial Headlines - 030622

Jun 03, 2022   •   by   •   Source: Proshare   •   eye-icon 1243 views

PROSHARE ECONOMY

Again, OPEC Increases Nigeria’s Crude Oil Production Quota to 1.8mbpd - The Organisation of the Petroleum Exporting Countries (OPEC), yesterday, raised Nigeria’s crude oil production quota to a new target of 1.799 million barrels per day (mbpd) for July 2022. Source Vanguard Read More

OPEC Debates Oil Output Boost Amid Russian Isolation - Major oil producers led by Saudi Arabia and Russia began talks Thursday on whether to adjust output, hard on the heels of an EU ban on Russian oil imports. Source The Guardian Nigeria Read More

World Bank: With Right Policies, Nigeria Can Leverage Trade for Poverty Reduction - The World Bank says the Russia-Ukraine war, COVID-19 pandemic, and rising inflation pose challenges to Nigeria’s poverty reduction goals. Source TheCable Read More

 

PROSHARE MARKETS

Investors Lose N85.38bn as NGXASI Dips by -0.30%; Overnight Rates Closes at 6.17%; IEFX Rate Depreciates to N419.50 - The NGX All-Share index dipped further by -0.30% to close at 52,815.78 basis points as against -0.03% loss recorded at the end of the previous trading session. In Naira terms, the NGX Market CAP records N85.38bn loss. YTD, the NGXASI Stands at +23.64%. Source Proshare Research Read More

Why Investment is Not a Gambling Game - Investment in any asset class is a tradeoff of risk and return. It is settled in portfolio management that there are four major asset classes- cash and cash equivalents, equities, fixed income, and real estate. Source Sola Oni Read More

Union Bank of Nigeria Plc Completes Transfer of 93.41% of Shares to Titan Trust Bank, Restructures Board - Union Bank hereby notifies NGX that with the completion of the transaction, TGI Group, parent of TTB, now becomes the majority shareholder and core investor in Union Bank. Source NGX Read More

 

PROSHARE BUSINESS

Intellectual Property Concerns for Social Media Influencers in Nigeria - As the world advances, new ventures in the media and internet world are emerging. One of the most recent enterprises that technological and internet evolution has witnessed is social media influence/influencing. Source AELEX Read More

FEC Approves Construction of Nigeria-Morocco Gas Pipeline - The federal executive council (FEC) has approved the proposal of the Nigerian National Petroleum Corporation (NNPC) to sign an agreement with the Economic Community of West African States (ECOWAS) for the construction of the Nigeria-Morocco gas pipeline. Source TheCable Read More

Despite Delays, Ministry Insists on July Take-Off Date for Nigeria Air - Apparently unfazed by multiple delays in the buildup schedule, the Ministry of Aviation has said that the new national carrier will fly by July 2022. Source The Guardian Nigeria Read More

 

PROSHARE TECHNOLOGY

MTN, Google Partner to Empower 200 Students - MTN Nigeria in partnership with Google has empowered over 200 children with technology skills at a special children’s day celebration themed “Tech Makers: The Next Wave.” Source LeadershipNG Read More

Interswitch Donates IT Equipment to LASU - Financial technology company Interswitch has donated new Information Technology (IT) equipment to the Lagos State University (LASU) to enhance the teaching and learning of technology-related courses. Source Daily Trust Read More

 

PROSHARE FINANCE

Resolving the Debacle of Claims in Nigeria's Insurance Industry - News of claims paid by insurance companies are dominating the media space again as their 2021 Financial Statements become available for public use. Despite the reported spending of billions of Naira by insurance companies... Source Ekerete Ola Gam-Ikon Read More

FRC to Ensure Global Sustainability Reporting - The Chief Executive Officer, Financial Reporting Council of Nigeria, Ambassador Shuaibu Ahmed, has said it is is collaborating with other global bodies to ensure climate-related risks and disclosure in financial reporting. Source Punch Read More




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