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Nigeria in 1min: Economic, Business and Financial Headlines - 190922

Sep 19, 2022   •   by   •   Source: Proshare   •   eye-icon 377 views

PROSHARE ECONOMY

Nigeria’s Oil Production Crashes to 900,000b/d - Nigeria’s crude oil revenue has continued to slump as the Organization of the Petroleum Exporting Countries’ newly released Monthly Oil Market Report for September revealed that the country’s crude oil output fell to 900, 000 barrels per day (b/d) last month. Source Punch Read More

FG Secures Pipelines With N12.43bn, Pays IOCs $4bn - The Federal Government has so far paid $4.04bn to five international oil companies as cash call arrears repayment and has spent N12.43bn this year on pipeline protection and maintenance, it was learnt on Sunday. Source Punch Read More

Red Line to Begin Operations Q1, 2023 – LAMATA - The Managing Director, Lagos Metropolitan Area Transport Authority, Abimbola Akinajo, has said the Lagos Rail Mass Transit Red Line rail system will carry its first passenger in the first quarter of 2023 when it is projected to commence passenger operations. Source Punch Read More

 

PROSHARE MARKETS

What to Expect from the Markets this Week - 190922 - Nigeria’s inflation rate surged to 20.52% Y-o-Y in August tallying with analysts’ forecasts. Food inflation came in at 23.12% reflecting a rise in the prices of bread, cereals, and tubers. On a month-on-month basis, however, the overall index rose by +1.77% in August which is lower than the 1.82% monthly inflation recorded in June and July. Source Proshare Research Read More

Banking Sector’s Equity Market Performance Year-to-Date 2022: A Tale of Mixed Fortunes - The Nigerian Banking sector started the year positively with the NSE Banking Index rising to 0.79% at the end of Q1 2022. Analysts note that this occurred at a time the Central Bank of Nigeria’s (CBN’s) Monetary policy Rate (MPR) was 11.5% in Q1 2022 with inflation settling at 15.92%. Source Proshare Research Read More


PROSHARE BUSINESS

We Are Well-Positioned to Meet Africa’s Banking Needs – UBA CEO - The Group Managing Director/Chief Executive Officer, United Bank for Africa (UBA) Plc, Oliver Alawuba, has said that the bank’s consistent investment in strengthening its digital channels have been paying off as UBA is well-positioned to meet the growing demand of its customers across Africa and beyond. Source UBA Read More

CWG Celebrates 30 Years of Positioning Africa, Rolls out Future Agenda - CWG Plc, the Pan-African systems solutions company, is celebrating 30 years of providing Information Technology (IT) services in Nigeria, Africa and the rest of the world, with strong promise to offer emerging technology solutions and services in the next phase of its operations. Source CWG Plc Read More

MPR Hike: 13 Banks Generates N2.04trn Interest from Customers Loans, Securities Investment - A total of 13 banks generated N2.04trillion interest from customers loans, Securities investments, among others in first half year ended June 30, 2022 on the back of Central Bank of Nigeria (CBN) hike in the Monetary Policy Rate (MPR) to 13 per cent as at June from 11.5 per cent in January 2022. Source ThisDay Read More

RT200 policy attracting more export commodities – CBN - The Central Bank of Nigeria (Plc) at the weekend, disclosed that its RT200 policy has begun to attract more export commodities. Source Sun Read More


PROSHARE TECHNOLOGY

#GlobalAISummit: DG NITDA Canvasses for Safer AI Utilisation - As Artificial Intelligence (AI) becomes embedded in people’s lives and activities to an unnoticeable stage, Kashifu Inuwa, the Director General, National Information Technology Development Agency (NITDA), has urged the global tech community to find measures that will ensure that AI systems are built according to policies, regulations, and laws. Source Tech Economy Read More

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