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Nigeria in 1min: Economic, Business and Financial Headlines - 260722

Jul 26, 2022   •   by Proshare Research   •   Source: Proshare   •   eye-icon 511 views

PROSHARE ECONOMY

Revenue Challenges: Nigeria Needs to Consider Asset Based Debt Strategies - As Nigeria grapples with its revenue challenges, there is need for the fiscal policy authorities to reconsider the National Debt strategy, with a view to making it more “Asset-Based”. Source Ottoabasi Abasiekong Read More

China’s Slowdown Spills Over to Major Economies Through Imports - China’s economic slowdown is spilling over to major exporting nations in Europe and East Asia through falling demand for manufactured goods, causing Germany and South Korea to post rare deficits with the world’s second-largest economy. Source Bloomberg Read More

Zainab Ahmed, Three Ministers to Attend as Governors Meet on Tuesday - The 36 state governors will host a meeting on Tuesday to discuss economic issues. The meeting, which will be held virtually, will begin at 2 pm. Asishana Bayo Okauru, director-general of the Nigeria Governors Forum (NGF), said three ministers would address the governors at the meeting. Source TheCable Read More

 

PROSHARE MARKETS

Investors Lose N312.44bn as NGXASI Dips by 1.11%; Debt Market Size Declines by 0.14% to Close at N29.16trn; IEFX Rate Appreciates to N427.17 - The NGX All-Share Index dipped by 1.11% to close at 51,400.53 basis points as against 0.27% loss recorded to close at 51,1979.92 basis points at the end of the previous trading session. In Naira terms, the NGX Market CAP records N312.44bn loss. Source Proshare Research Read More

NAFEX Rate Appreciated by 0.14% WoW to N423.26 - In the FX Spot and Derivatives markets, the total turnover for the week-ended July 22, 2022, was $941.28 million, representing an increase of 317.91% ($716.05 million) from $225.24 million reported for the week-ended July 15, 2022. Source FMDQ Read More

Price Gains Across Most Commodities– AFEX Commodities Weekly Report 220722 - Sorghum, maize, and soybean were the top traded commodities on the Exchange during the week. The price of maize reversed its upward trend from the previous week, declining by 3.97% on the Exchange and 1.56% in the open market. Source AFEX Read More

 

PROSHARE BUSINESS

Effective Ways to Market Your Freelance Business - Whether you recently started your freelance business or have been in the field for quite a while, you want it to not only survive but also thrive. However, with all the stiff competition in the market, you need to put in extra effort for your business to thrive and attract more clients. And one way you can beat the competition is by engaging in consistent marketing. Source Jane Du Read More

CBN Disburses N68bn Under 100-for-100 Policy - The Central Bank of Nigeria has disbursed N68.13bn to beneficiaries under its 100-for-100 Policy on Production and Productivity since the commencement of the intervention. Source Punch Read More

Nigerians to Pay More as Bakers Hike Bread Price by 20% - Nigerian bakers have decided to hike the price of bread by 20 percent amid surging production costs. Last week, bakers, under the aegis of the Premium Breadmakers Association of Nigeria (PBAN), embarked on a four-day warning strike to demand government intervention regarding the prices of materials used in bread production. Source TheCable Read More

MAN To FG: Remove 7.5% VAT On Diesel - The Manufacturers Association of Nigeria (MAN) has called on the federal government to remove the 7.5 per cent Value Added Tax on Automobile Gas Oil pending the supply from international is normalised. Source Daily Trust Read More

 

PROSHARE TECHNOLOGY

CBN Blames Banks for Frustrating Use of eNaira - Almost a year after the Central Bank Digital Currency (CBDC) known as the eNaira, which was launched by the President Muhammadu Buhari, it is yet to fully permeate the financial industry, a situation the Central Bank of Nigeria (CBN) blamed on the uncooperativeness of banks in the country. Source LeadershipNG Read More

Coinbase Faces SEC Investigation Over Cryptocurrency Listings - Coinbase Global Inc. is facing a US probe into whether it improperly let Americans trade digital assets that should have been registered as securities, according to three people familiar with the matter. Source Bloomberg Read More

Orange Group Eyes Nigeria’s Technology Market, Meets NCC - Orange Group, a telecom investor and operator said it is interested in making an entry into Africa’s biggest technology market as it explores ways to deepen broadband penetration. Orange Group has a portfolio of a combined network of over 140 million subscribers across 18 countries of its operations. Source TechEconomy Read More

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