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Nigeria in 1min: Economic, Business and Financial Headlines - 160922

Sep 16, 2022   •   by   •   Source: Proshare   •   eye-icon 307 views


Headline Inflation Increases by 20.52% YoY in August 2022 as Food Inflation Rises by 23.12% - In August 2022, on a year –on- year basis, the headline inflation rate was 20.52%. This was 3.52% points higher compared to the rate recorded in August 2021, which was (17.01%). Source NBS Read More

14th PSRG Richardson HSSE Forum - Declare National Emergency on Crude Oil Theft - Tony Attah - Nigeria should declare a national emergency on crude oil theft if it hopes to benefit from the Petroleum Industry Act (PIA) said Engineer Tony Attah, former MD/CEO of the Nigeria Liquified Natural Gas, NLNG company as a keynote speaker at the 14th edition of the PSRG-Richardson HSSE Forum in Lagos. Source Ottoabasi Abasiekong Read More

ICPC uncovers N400bn fraud in 2021, 2022 budgets - The Independent Corrupt Practices and Other Related Offences Commission, on Thursday, disclosed that the N13.59trillion 2021 budget was padded by the various Ministries, Departments and Agencies, with duplicated projects worth N300bn. Source Punch Read More

Nigeria, Morocco Begin 5,600km Gas Pipeline Project - The Nigerian National Petroleum Company Limited and the Office National des Hydrocarbures et des Mines of Morocco, on Thursday, signed the Memorandum of Understanding for the commencement of construction of the 5,600km Nigeria-Morocco gas pipeline. Source Punch Read More



Investors Lose N19.12bn as NGXASI Dips by 0.07%; Overnight Rate Contracts by 0.20% to Close at 7.30%; BDC Rate Depreciates to N711 - The NGX All-Share Index dipped by 0.07% to close at 49,540.48 basis points as against 0.10% loss recorded previously to close at 49,575.93 basis points at the end of the last trading session. In Naira terms, the NGX Market CAP records N19.12bn loss. YTD, the NGXASI Stands at +15.98%. Source Proshare Research Read More

mPharma Acquires Majority Stake in HealthPlus - mPharma, Africa’s leading patient-centered technology-driven healthcare company, has acquired the majority stake in HealthPlus, the leading pharmacy chain in Nigeria. Source mPharma Read More



Parthian Partners renews commitment to youth empowerment - Parthian Partners has partnered with Junior Achievement Nigeria to hold the 2022 Venture in Management Program (ViMP) in collaboration with Lagos Business School as part of its corporate social responsibility commitment to help reduce youth unemployment through human capital and talent development. Source Parthian Partners Ltd Read More

Nigeria Signs €23m Agreement with France to Boost Electricity Supply - The federal government has signed a grant agreement of €25 million with the French Development Agency (AFD) for the Northern Corridor Project to boost the power supply in the country. Source TheCable Read More

NSC Seeks Synergy with Airfreight Stakeholders to Promote Seamless Trade - The Executive Secretary and Chief Executive Officer of Nigerian Shippers’ Council (NSC), has sought for synergy with air freight operators to promote seamless trade and create an enabling environment for businesses. Source The Guardian Nigeria Read More

Oil Extends Losses on Recession Fears - Oil prices dipped in early trade on Friday, extending the week’s losses as concern over tight supply was outweighed by escalating fear of sharp interest rate hikes slamming global growth and hitting fuel demand. Source Reuters Read More



NIN-SIM Linkage: NIMC Hits 89m Enrolments - The Director General of the National Identity Management Commission, Aliyu Aziz, says the commission has so far captured 89 million persons in the ongoing nationwide National Identity Number enrolment. Source Punch Read More

McKinsey Projects $40bn Revenue, 152% Growth for Africa’s Electronic Payments Market by 2025 - The firm in a report estimated that while cash is still king in Africa, the e-payments market is likely to grow by more than $40 billion in revenues from domestic payments alone between 2020 and 2025, with about 188 billion in transaction volumes. Source THISDAYLIVE Read More




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