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Nigeria in 1min: Economic, Business and Financial Headlines - 171122

Nov 17, 2022   •   by   •   Source: Proshare   •   eye-icon 381 views


Nigeria's Headline Inflation Soars to 21.09% in October 2022 - The National Bureau of Statistics released its inflation data for October today. In line with market expectation, headline inflation accelerated to a 17-year high of 21.09 on a year-on-year basis. This is 0.32% higher than the previous month’s inflation and 5.09% compared to same month in 2021. Source FDC Ltd Read More

NCP Okays Governance Framework for $3bn Hydropower Plant In Benue - The National Council on Privatisation (NCP) has approved a governance framework for the development of a $3 billion hydropower plant in Makurdi, Benue state. Source TheCable Read More

States To Get $1bn Grant From World Bank Dec – Zainab - The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed has said states will soon get $1 billion as part the last tranche of the $1.5 billion grants under the World Bank assisted States’ Fiscal Transparency, Accountability and Sustainability (SFTAS) Programme will be released in December 2023. Source Daily Trust Read More

AFC Queries GOE’s Non-remittance of Revenues to Federation Account - Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has queried the non-remittances of revenue generated by some agencies classified as Government- Own Enterprises (GOEs) to the Federation Account. Source Sun Read More



Investors Gain N130.01bn as NGXASI Advances by 0.54%; Overnight Rate Closed Flat at 16.50%; BDC Depreciates to 805 - The NGX All-Share Index declined by 0.54% to close at 44,046.94 basis points as against 0.02% loss recorded previously to close at 43,808.25 basis points at the end of the last trading session. In Naira terms, the NGX Market CAP records N130.01bn loss. YTD, the NGXASI Stands at +3.11%. Source Proshare Research Read More

Nigerian Ex-General Takes on Former Partner That Won $11 Billion Award - A firm owned by a billionaire former Nigerian defense minister is suing an ex-business partner that’s at the center of a high-stakes London trial over an $11 billion arbitration award, previously unreported court documents show. Source Bloomberg Read More


CEO Remuneration 2022: Querying CEO's Share of Revenue in the World's Largest Companies - Looking at the dynamics of CEO Pay from the lens of global corporations, we specifically consider how CEO remuneration has responded to changes in firms' revenue due to global inflation. The financials of the world’s leading firms suggest that turnover rose during an evolutionary phase emerging after the epoch crises of COVID -19, which led to the global socioeconomic system of various actors at all levels adapting to an irreversible work model. Source Proshare Research Read More

23 Nigerians Make MIPAD Global Top 100 Under 40 List - 100 young persons of African descent under 40 years have been recognized as the Most Influential People of Africa Decent 2022 by the Most Influential People of African Descent (MIPAD), a global civil society initiative in support of the UN International Decade for people of African descent. Source MIPAD Read More

FG Conducts Feasibility Studies on 3,658km Railway Routes - The Federal Government has carried out feasibility studies on 3,658km railway routes across the country considered viable for development. The government also stated that efforts were ongoing to improve and sustain intra- and inter-city mass transit railway services in state capitals along the rail corridor. Source Punch Read More

Nigeria Remains France’s Leading Trade Partner in SSA - The Director General of the Franco-Nigerian Chamber of Commerce and Industry (FNCCI), Moses Umoru has said Nigeria remains France’s leading trade partner in sub-Saharan Africa and the fourth in Africa behind Morocco, Algeria, and Tunisia with the energy sector taking a prominent position in trade. Source Guardian Read More



NCC Moves Ahead With 5G Auction Amid Calls for Administrative Licencing - Some telecommunications operators in the country have requested that Nigerian Communications Commission (NCC) to issue them the 3.5GHz (gigahertz) spectrum for the deployment of fifth generation (5G) mobile technology through administrative licencing. Source Leadership Read More

Digital Economy: NITDA Reaffirms Commitment to Youth Empowerment - With the surge in global unemployment and inflation statistics now a nightmare to world leaders, Director General of the National Information Technology Development Agency (NITDA). Source Sun Read More


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