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Nigeria in 1min: Economic, Business and Financial Headlines - 230922

Sep 23, 2022   •   by   •   Source: Proshare   •   eye-icon 333 views

PROSHARE ECONOMY

Nigeria Requires the Delivery of Affordable, Reliable and Sustainable Energy for Homes and Businesses for its Growth and Development - Being Remarks by Malam Nasir El-Rufai, Governor of Kaduna State, at the 9th edition of the Nigeria Energy Conference held at the Landmark Centre, Victoria Island, Lagos, on 21st September 2022. YTD, the NGXASI Stands at +15.16%. Source Mallam Nasir El-Rufai Read More

Closing the Metering Gap; 45.9% of Customers Metered as of June 2022 - In its latest report, the National Bureau of Statistics (NBS) beamed its spotlight on the country’s electricity supply, total number of registered customers and revenue generated by the Distribution Companies (Discos) for Q1 and Q2 2022. Source CSL Research Read More

The Warning Signs: Eight Charts to Watch as Canada Flirts With Recession - On several fronts, things are getting worse for Canada’s economy. Growth is petering out. The labour market is shedding jobs. And inflation is far too high. In turn, a growing number of domestic banks are projecting Canada will slip into recession by next year. Source Matt Lundy, The Globe and Mail Read More

Nigeria Needs Help to Tackle Debt Burden – AfDB - The president of the African Development Bank, Akinwumi Adesina, has said Nigeria needs help in tackling its debt burden. He said this at the Nigeria International Economic Partnership Forum in New York on Thursday. Source Punch Read More

 

PROSHARE MARKETS

Investors Lose N124.91bn as NGXASI Dips Further by 0.47%; Overnight Rate Expands by 1.50% to Close at 14.67%; BDC Rate Depreciates to N713 - The NGX All-Share Index declined by 0.47% to close at 49,190.34 basis points as against 0.05% loss recorded previously to close at 49,421.91 basis points at the end of the last trading session. In Naira terms, the NGX Market CAP records N124.91bn loss. YTD, the NGXASI Stands at +15.16%. Source Proshare Research Read More

Federal Reserve Issues FOMC Statement and Implementation Note From Its September 2022 Meeting - The Board of Governors of the Federal Reserve System voted unanimously to raise the interest rate paid on reserve balances to 3.15 percent, effective September 22, 2022. Source Federal Reserve Read More

FBN Holdings Plc Notifies of the Completion of the Acquisition of Access Pension Fund Custodian Ltd by First Pension Custodian Nigeria Ltd - The transaction has the “no objection” of the Central’ Bank of Nigeria as well as the approvals: of the National Pension Commission and the Federal Competition and Consumer Protection Commission. Source NGX Read More

 

PROSHARE BUSINESS

Oil Prices Rise as Iran Deal Stalls, Russian Supply Amid Conflict - Oil prices rose in early Asian trade on Friday on the prospect that a stalled Iran nuclear agreement and Moscow’s new mobilization campaign in its invasion of Ukraine would further restrict global supplies. Source Reuters Read More

NNPC, US Corporation, Exim Bank Seal Deal on Gas Project - The Nigerian National Petroleum Company Ltd(NNPC) has opened talks with the United States Finance Corporation and Exim Bank to seek financing for its multi-billion-dollar gas projects. Source Sun Read More

NEXIM: ECOWAS Regional Shipping Line to Commence Operation Q1 2023 - As Nigeria’s effort to float a national shipping line falters, a sub-Saharan regional shipping line, Sealink floated by a consortium would commence operation in the first quarter (Q1) 2023. Source ThisDay Read More

 

PROSHARE TECHNOLOGY

Flutterwave Enables Google Pay for African Businesses - Africa’s leading payments technology company, Flutterwave, today announced Google Pay, a mobile payment service developed by Google, as a payment method on Flutterwave. Source Guardian Read More

 

PROSHARE FINANCE

CTD2022: Stakeholders Explore Engaging and Retaining Talent in Nigeria - The prospects for attracting, retaining and engaging talents in Nigeria were the core focus of the 2022 edition of the "Champions of Talent Development" two-day conference hosted by the Learning and Development Network International, LDNI, in collaboration with partners. Source WebTV Read More

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