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Nigeria in 1min: Economic, Business and Financial Headlines - 040822

Aug 04, 2022   •   by   •   Source: Proshare   •   eye-icon 295 views


Nigeria Macroeconomic Update 2022 Q2 - Navigating through Bumpy Political Season and Tough Economic Headwinds - Following the impact of the war in Ukraine, global output growth is expected to decelerate in 2022. Higher energy prices and rising inflation across advanced and developing countries have weakened the purchasing power of households in many countries. Source FSDH Research Read More

Oil Price Falls, OPEC Raises Nigeria’s Production Quota - The Organisation of Petroleum Exporting Countries on Wednesday raised Nigeria’s crude oil production quota for September 2022 to 1.83 million barrels per day, as Brent, the global benchmark for crude, dropped in price the same day. Source Punch Read More

Abuja May Experience Fresh Fuel Scarcity Soon – Marketers - Residents of the Federal Capital Territory may soon experience a fresh round of fuel scarcity, as The PUNCH reliably gathered that tanker drivers have declined to take products to the FCT due to bad road network and high diesel prices. Source Punch Read More

NLNG Suffers $7bn Year-to-Date Revenue Loss Due to Gas Supply Shortages - The security challenge facing oil and gas companies in the country is having a heavy toll on the production and revenues of the Nigeria Liquefied Natural Gas (NLNG) Limited as it has resulted to the company losing almost $7 billion revenue so far in 2022 due to gas supply constraints. Source THISDAYLIVE Read More



Investors Lose N16.76bn as NGXASI Dips by 0.06%; Overnight Rates Closes Flat at 15%; IEFX Rate Appreciates to N429.20 - The NGX All-Share Index dipped by 0.06% to close at 50,594.97 basis points as against 1.35% gain recorded to close at 50,626.04 basis points at the end of the previous trading session. In Naira terms, the NGX Market CAP records N16.76bn loss. YTD, the NGXASI Stands at +18.44%. Source Proshare Research Read More



Building a Robust Digital Strategy for Business Growth - Digital transformation of a business requires proper planning, extreme care from management, buy-in from all relevant stakeholders, including employees, and an understanding of the digital tools available. Source Ginikachukwu Okereke, Phillips Consulting Read More

Oil Prices Rebound on Supply Concerns After Drop to Near 6-Month Low - Oil prices rose on Thursday as supply concerns triggered a rebound from multi-month lows plumbed in the previous session after U.S. data signalled weak fuel demand. Source Reuters Read More

High Fertiliser Price Fuelling Global Food Insecurity - Despite that Nigeria and other parts of Africa are battling the challenges of achieving economic recovery after the COVID-19 pandemic, there is one lingering issue: rising fertiliser price.This has implication for food insecurity. Source The Nation Read More

China to Deepen Africa Ties Over Next Decade with Focus on Trade - China will deepen its ties with Africa over the next decade by focusing on trade and is unlikely to be dislodged by US and European Union attempts to re-engage with the continent, the Economist Intelligence Unit said. Source Bloomberg Read More



Operational Challenges Hamper 5G Deployment This Month - Few days to the deployment of the Fifth Generation (5G) network in Nigeria, investigations have shown that the licensees, MTN Nigeria and Mafab Communications, may not be ready to deploy the service from August 24, as a result of lingering infrastructural and licensing challenges. Source The Guardian Nigeria Read More

Pantami Reaffirms FG’s Commitment to Indigenous Telecoms Content, as Danbatta Lauds Efforts - Minister of the Communications and Digital Economy, Prof Ali Ibrahim Pantami, has reaffirmed Federal Government’s determination to reverse the trend of importation of all types of telecommunications products, especially as production in Nigeria is possible. Source The SUN Read More


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