News articles of interest

Rand Merchant Bank Nigeria Launches ₦80bn Commercial Paper Programme

2017-06
Rand Merchant Bank (RMB) Nigeria has received approval from FMDQ OTC Securities Exchange to register its N80 billion Commercial Paper (CP) Programme on the FMDQ platform.
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Crude Oil Price Inches up to $49 as US Drilling Declines

2017-07-18
Crude oil price on Monday edged up to about $49 per barrel after fewer drilling rigs were added in the United States, thus easing concerns that surging shale supplies will undermine the efforts by the Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC to reduce the level of inventory in the oil market.
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Osinbajo: FG to Bring Down Cost of Aviation Fuel

2017-07-18
Acting President Yemi Osinbajo on Monday said the aviation industry would play a significant role in the economic development of Nigeria and hence, the federal government was making conscious efforts to bring down the cost of aviation in the country.
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FG, NDDC Move to Revitalise Abandoned Rice Mills

2017-07-18
The federal government has said it will support youths in the Niger Delta region who chose to go into agriculture as a way of reducing crime and enhancing food security in the region and the country.
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CBN Sells $195m to Banks

2017-07-18
In continuation of its foreign exchange supply drive, the Central Bank of Nigeria (CBN) on Monday intervened in the interbank segment of the market to the tune of $195million.
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Nigeria’s federally collected revenue declines by 13.42 per cent

2017-07-18
Crude oil and non-oil income has cut Nigeria’s gross federally collected revenue in May 2017 by 13.42 per cent to N458.42 billion. Specifically, Nigeria’s crude oil earnings decreased from the N292.82 billion it recorded in February to N238.09 billion in May.
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FMDQ lists Nigeria Infrastructure Debt Fund, others

2017-07-18
Having successfully obtained the Securities and Exchange Commission’s approval, Chapel Hill Denham Management Limited has registered and established the Nigeria Infrastructure Debt Fund 200bn issuance programme.
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Oando under investigation over $1.5bn oil asset

2017-07-18
Africa’s largest integrated energy solutions provider, Oando PLc, has acknowledged it was being investigated by the Securities and Exchange Commission (SEC) over alleged petitions filed by investors over the shareholding structure that followed the multi-billion dollar acquisition of ConocoPhillips’ oil assets in Nigeria.
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UBA Board Meets to Consider Accounts, Interim Dividend

2017-07-17
The board of directors of United Bank for Africa (UBA) Plc would this week meet to deliberate on the company’s accounts and financial statements for the half year ended June 30, 2017.
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Unilever Nigeria’s Profit After Tax Soars to N2bn in Six Months

2017-07-17
Shareholders of Unilever Nigeria Plc should expect higher dividend at the end of the current financial year going by its improved financial results for the half year ended June 30, 2017.
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UPDATE 1-U.S. seeks to recover $144 mln in Nigeria oil industry bribery case

2017-07-14
July 14 (Reuters) - The U.S. Justice Department on Friday filed a lawsuit seeking to recover assets that include a $50 million Manhattan apartment and an $80 million yacht that it said were bought using money generated from a scheme to pay millions of dollars in bribes to a former Nigerian oil minister.
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Larbie: Producing Locally is a More Sustainable Business Strategy

2017-07-12
Managing Director/Chief Executive Officer of Rand Merchant Bank Nigeria and Regional Head, RMB West Africa, Mr. Michael Larbie, in this interview stressed the need for increased support for local production. ObinnaChimapresents the excerpts
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Etisalat to raise fresh capital, reassures customers of continuity

2017-07-12
Etisalat Nigeria on Monday said it had commenced the paperwork to raise fresh capital to bolster its operations...
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Nigeria Can’t Borrow Anymore, Warns Adeosun

2017-07-12
The Minister of Finance, Mrs. Kemi Adeosun, Tuesday warned that the country must not borrow more to fund its budget and should instead raise money internally to fund the budget...
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EU, Nigeria to facilitate trade, investment

2017-07-12
Nigerian Government Monday, deliberated with the European Union (EU) delegation on ways to facilitate trade and investment in Nigeria.The agreement was reached at the meeting between the Ambassador and Head of EU delegation to Nigeria and ECOWAS, Michell Arion, and the Nigerian Minister of Foreign Affairs, Geoffrey Onyeama...
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BoI to Inject N1tn into Economy

2017-07-12
The Bank of Industry (BOI) plans to inject N1trillion into the Nigerian economy through collaboration with financial institutions in the country and development institutions in Africa...
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Dollar flow raises capacity utilisation in manufacturing sector to 60%

2017-07-12
Capacity utilisation in Nigeria’s manufacturing sector spiked to 59.18 percent in the second half of 2016, the highest in more than five years. This represents a 19.2 percent surge from 49.64 percent recorded in the corresponding period of 2015, data obtained exclusively from the Manufacturers Association of Nigeria (MAN) shows. Manufacturers attribute this dramatic rise…
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Banks raise dollar spending by 900%

2017-07-12
There is something to cheer for bank customers travelling abroad. Commercial banks have raised customers’ international dollar spending limit on overseas Point of Sale (PoS) and online card transactions by 900 per cent, it was learnt yesterday...
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Dangote Cement aims to double size of Africa plants in three years

2017-07-11
LAGOS, July 11 (Reuters) - Nigeria's Dangote Cement plans to invest about $4 billion in the next two to three years to nearly double its production capacity in Africa, a senior executive told Reuters on Tuesday...
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Africa's Richest Man Invests $4.6 Billion in Nigeria Farming

2017-07-11
Dangote Group, controlled by Africa’s richest man, Aliko Dangote, plans to invest $3.8 billion in sugar and rice and $800 million in dairy production in the next three years as the company seeks to expand and deal with a shortage of dollars in its home market of Nigeria...
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Cement Price to Fall Soon as Cost of Production Drops

2017-07-07
Prospective house builders and the construction industry will have reasons to smile soon as cement manufacturers have put the machinery in motion to bring down the price of the product...
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‘Nigeria’s crude oil production hit 2.025mbpd in June’

2017-07-07
The Federal Ministry of Petroleum Resources has put Nigeria’s crude oil production, including condensate at 2.025 million barrels per day in June 2017.Besides, the agency said the Federal Government is yet to secure funding for the rehabilitation of the country’s refineries...
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Udoma Puts Nigeria’s Debt Stock at N19tn

2017-07-07
The Minister of Budget and National Planning, Udoma Udo Udoma, has revealed that the country’s debt stock has risen to N19 trillion, accounting for 20 per cent of the Gross Domestic Product (GDP)...
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Banks tap two advisers to manage Etisalat sale

2017-07-07
With calm returning to the relationship between Etisalat and the group of creditor banks from which the company borrowed about $1.25bn, the way is now clear for a process leading to the sale of the telecoms firm to a new core investor. Sources have told BusinessDay that the banks were surprised by the sudden resignation…
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Etisalat debt: Reps want telcos’ financial accounts audited

2017-07-07
The board of the Nigerian Communications Commission (NCC) has held an emergency meeting to review the Etisalat debt issue in its entirety and also the intervention made by the commission...
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Default filing: Stock Exchange suspends trading in 17 companies

2017-07-07
Nigerian Stock Exchange, NSE, has placed the shares of 17 companies on suspension for failing to file their various financial statements as at when due. Most of the companies are in the insurance sector, and are also penny stocks...
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BPE: FG to Divest 20% of Its Shares in Privatised Companies on Stock Exchange

2017-07-06
The federal government will sell up to 20 per cent of its shares in some of the companies it has partially privatised on the Nigerian Stock Exchange (NSE), to allow Nigerians own shares in them, the Director General of Bureau of Public Enterprises (BPE), Mr. Alex Okoh, has disclosed...
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Nipco’s Mobil Oil takeover bid offer extended

2017-07-06
The proposed mandatory takeover bid offer period by Nipco Investment Limited of 3.23 per cent equity stake representing 11,644,544 ordinary shares of 50 kobo each in Mobil Oil Nigeria Plc (held by qualifying shareholders), has been extended...
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Nigeria’s return to JP Morgan Index seen not earlier than 9 months away

2017-07-06
In this fourth part of BusinessDay’s investors series on Looking in from the outside, Publisher, Frank Aigbogun reports on why it could be nine months hence before Nigeria can hope to get back on the JP Morgan emerging market index and the new thinking about the wisdom of a naira convergence. It is part of…
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Nigeria Has Succession Jitters, Again

2017-07-06
Nigeria is awash in nervous speculation over the health of President Muhammadu Buhari, who hasn’t appeared in public since he returned to the U.K. for medical treatment for an undisclosed ailment on May 7. Buhari, 74 and a Muslim, has formally designated his deputy, Yemi Osinbajo, acting president as he did when he was away on medical leave for 49 days from Jan. 20. The prospect of Osinbajo, a 60-year-old Christian, serving out...
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Investors showing interest in power distribution networks —Fashola

2017-07-06
The Ministry of Power, Works and Housing has received lots of proposals from investors who are interested in providing funds for the expansion of power distribution networks across the country, the Minister of Power, Works and Housing, Babatunde Fashola, has said...
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Time for administrative control of Naira over says Emefiele

2017-07-05
In this third part of Businessday’s investors series on Looking in from the outside, Publisher Frank Aigbogun reports on the question and answer session held with investors by Central Bank Governor Godwin Emefiele. It is part of the feedback from a weeklong market development programme conducted in London by leaders of FMDQ OTC exchange. Central…
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Finally, Nigerian Stock Exchange Delists Ashaka Cement

2017-07-05
Ashaka Cement Plc was Tuesday voluntarily delisted from the Nigerian Stock Exchange (NSE). The company had last year notified the exchange of its intention to exit. The shareholders of Ashaka Cement, who have exercised their option to exit the company...
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IOCs to Dispose of More Assets After PIB Passage, Licence Expiration

2017-07-05
International oil companies (IOCs) operating in the country will continue to hold back on the divestment of onshore assets until after the passage of the Petroleum Industry Bill (PIB) that governs fiscal terms, and the expiration of some of the joint venture onshore assets in 2019, investigations by THISDAY have revealed...
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Recession: FG enlists foreign firms to enhance recovery

2017-07-05
The Federal Government is hiring the United States technology giants such as Oracle Corporation and Microsoft Corporation as it steps up efforts to save costs and fight corruption...
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N3.57tn borrowed in 21 months to finance budget deficit –FG

2017-07-05
The Federal Government said on Tuesday that it borrowed N3.57tn between June 2015 and March 2017 to finance budget deficits...
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Nigeria to raise up to 450 bln naira in bonds by Q3 -debt office

2017-07-05
LAGOS, July 5 (Reuters) - Nigeria plans to raise between 360 billion naira and 450 billion naira ($1.18 bln-$1.48 bln) in sovereign bonds maturing between five and 20 years in the third quarter, the Debt Management Office (DMO) said on Wednesday...
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Naira appreciates marginally against dollar

2017-07-05
The Naira on Wednesday appreciated marginally against the dollar at the parallel market, the News Agency of Nigeria (NAN) reports...
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Crude Oil Price Rises for Eight Days, the Longest Since 2012

2017-07-04
Crude oil price recovered from early losses Monday to resume the longest stretch of rallies for eight days in a row, the longest in more than five years...
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Nigeria’s tax revenues could hit N19 trillion annually

2017-07-04
A new scheme targeted at taking Nigeria’s tax to GDP ratio from six percent to 15 percent by 2020 could add some N19 trillion to public funds and prove the country’s biggest step yet, along the painstaking road to revenue diversification. Fifteen percent of Nigeria’s $415 billion GDP (in 2016) equates to $62 billion- N19…
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Nigeria rated Africa’s 19th most attractive investment destination

2017-07-04
Nigeria is the 19th most attractive economy for investments flowing into the African continent, a new report has indicated...
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CBN pumps $195m into interbank market

2017-07-04
The Central Bank of Nigeria (CBN), in continuation of its drive to ensure liquidity and stability in the foreign exchange (forex) market, yesterday injected $195 million into various segments of the inter-bank forex market...
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Seplat Gets Extension on $150m Revolving Credit Facility

2017-07-04
Seplat Petroleum Development Company Plc, a leading Nigerian indigenous oil and gas company listed on both the Nigeria Stock Exchange (NSE) and London Stock Exchange, is set rebuild cash on its balance sheet and...
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Zenith, FBN, GTbank, Access, UBA, Diamond among Top 1000 Global Banks

2017-07-04
Six Nigerian banks which included Zenith Plc, FirstBank Nigeria Limited, Guaranty Trust Bank Plc, Access Bank Plc, United Bank for Africa Plc and Diamond Bank Plc were...
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UPDATE 1-Regulators step in to save Etisalat Nigeria from collapse

2017-07-04
LAGOS, July 4 (Reuters) - Nigeria's central bank and its telecoms industry regulator have intervened to save the country's fourth largest telecoms firm from collapse after talks with local banks to renegotiate a $1.2 billion loan failed, a regulatory source said on Tuesday...
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Nigeria bank shares suffer losses as Etisalat woes stoke sell-off

2017-07-04
LAGOS, July 4 (Reuters) - Nigerian banking shares dropped 2.3 percent on Tuesday after regulators said they had intervened to save the country's fourth largest telecoms firm from collapse as talks with local lenders to renegotiate a $1.2 billion loan failed...
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Nigerian state oil firm says saved $2 bln with cheaper contracts

2017-07-04
ABUJA, July 4 (Reuters) - Nigeria's state oil company has saved $2 billion in the past year by renegotiating its upstream servicing contracts, it said in a statement on Tuesday, as it tries to reduce high overheads...
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UPDATE 1-Guinness Nigeria starts $126 mln share sale to cut funding costs

2017-07-04
LAGOS, July 4 (Reuters) - Guinness Nigeria on Tuesday launched a share sale to raise 39.7 billion naira ($126 million) from existing shareholders to help lower its financing costs after reporting its first annual loss in 30 years last year...
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Sack of former PENCOM DG lands Buhari, others in court

2017-07-03
The Registered Trustees of Ethics and Corporate Compliance Institute (ECCI) has dragged President Muhammadu Buhari, Attorney General of the Federation (AGF) and Minister of Justice, Abubakar Malami SAN and four others before the Federal High Court sitting in Abuja over alleged unlawful sack of the Board Chairman of the National Pension Commission (PENCOM)?, Adamu Muazu…
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Naira appreciates against dollar

2017-07-03
The Naira on Monday appreciated against the dollar at the parallel market, the New Agency of Nigeria, NAN, reports...
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Exchange Traded Derivatives can support Nigeria’s growth ambition – NSE Vee Pee

2017-07-03
AHEAD of the launch of Exchange Traded Derivatives, ETDs, by the Nigerian Stock Exchange, NSE, later in the year, the 2nd Vice-President of the NSE Council, Mr. Abimbola Ogunbanjo, has expressed optimism that the ETD initiative will develop into a robust market that could support the nation’s growth ambition...
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UPDATE 1-Etisalat Nigeria chairman resigns after debt talks collapse -sources

2017-07-03
LAGOS, July 3 (Reuters) - Etisalat Nigeria Chairman Hakeem Belo-Osagie has resigned after talks to renegotiate a $1.2 billion loan collapsed and prompted a major foreign shareholder to exit the telecoms company, two company sources told Reuters...
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Again, Nigeria’s Manufacturing Index Expands in June

2017-07-03
The Manufacturing Purchasing Managers’ Index (PMI) increased to 52.9 index points in June 2017, showing expansion in the manufacturing sector for the third consecutive month...
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FG’s N140b debt threatens PenCom’s N7.2tr target

2017-07-03
A plan by the National Pension Commission (PenCom) to boost funds contributions from N6.4 trillion to N7.2 trillion by the end of 2017 may be jeopardised by the current pension outstanding estimated at N140 billion...
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Equities: Investors reap over N2.2tr gain in first half

2017-07-03
Equities’ investors at the stock market are smiling to the bank as they netted more than N2.2 trillion gains in the first half of the year...
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Ahead of public listing, MTN woos institutional investors

2017-07-03
The planned public listing of the shares of MTN Nigeria on the Nigerian Stock Exchange offers both institutional and individual investors the opportunity to get a slice of the...
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Forex reserves dip to $30.25b as CBN issues N32b debt

2017-07-03
The Nigeria’s foreign exchange reserve stood at $30.25 billion by June 28, down by 0.36 per cent from a month ago, Central Bank of Nigeria (CBN) data...
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Schlumberger Signs $700 Million Oil-Field Deal in Nigeria

2017-06-30
Nigeria’s state-owned oil company said it signed a deal with Schlumberger Ltd. to provide $700 million for the development of two oil fields in the country’s crude-rich south.
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W’Bank approves $961m for Nigeria’s economic recovery plan

2017-06-22
The World Bank on Tuesday approved $961m loan to support the implementation of Nigeria’s Economic Recovery and Growth Plan 2017-2020.
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Nigeria to issue more bonds

2017-06-22
As Nigeria continues to savour the success of its maiden Diaspora bond and prepares for the issuance of its first-ever sovereign Sukuk, the Federal Government yesterday affirmed that it will explore issuance of more innovative bonds to provide opportunities for all segments of populace to participate in the national economic development.
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Panic as oil price drops to $43.90 per barrl

2017-06-22
For the first time, the price of crude oil has dropped from $46 to $43.90 per barrel in the international market, showing $0.60 cents below Nigeria’s $44.50 per reference price for the 2017 budget.
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Minister Facilitates $4bn Telecoms Investment to Nigeria

2017-06-22
The Minister of Communications, Adebayo Shittu, who is Nigeria’s Head of Delegation to the just concluded World Summit on the Information Society, WSIS FORUM 2017 in Geneva, Switzerland, has struck a business deal that will facilitate over $4 billion telecommunications investments from India to Nigeria.
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I&E FX Window May Stop Nigeria’s Demotion from MSCI Index

2017-06-21
The newly introduced Investors’ and Exporters’ (I&E) foreign exchange window targeted at foreign portfolio investors could earn Nigeria reprieve from being demoted from the MSCI’s frontier markets index.
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Investors bullish on Nigerian assets as economic prospects improve

2017-06-21
A slightly more flexible foreign exchange (FX) market, combined with the proposed record budget spending for 2017 by the Federal Government is helping to bid up Nigerian assets as investors bet the worst may be over for Africa’s largest economy.
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$1.2bn loan: GTBank, Access, others get 45% stake in Etisalat

2017-06-21
The ownership structure of Etisalat Nigeria is now set to change after talks with lenders to restructure its $1.2bn (N541bn) loan failed.
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Julius Berger, Petrolan Energy Partner to Acquire Oil Fields

2017-06-21
As part of efforts to diversify its operations into the oil and gas sector, a leading construction company, Julius Berger Nigeria (JBN) Plc has entered into a strategic partnership and joint investment agreement with Petrolan Energy Limited.
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Nigerian fuel retailer Nipco launches $16 mln offer for Mobil Oil shares

2017-06-21
LAGOS, June 21 (Reuters) - Nipco Plc has launched a 4.84 billion naira ($16 mln) offer for the shares it needs to take its stake in Mobil Oil to 70 percent to comply with Nigerian takeover rules, its advisers said on Wednesday.
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BPE to firm: Conclude equity investment in 60 days

2017-06-21
The Director-General of the Bureau of Public Enterprises (BPE), Mr. Alex A. Okoh, has given Lead Capital Consortium a deadline of 60 calendar days to conclude the strategic equity investment by the National Sovereign Investment Authority (NSIA) into the Nigeria Commodity Exchange (NCX).
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REFILE-UPDATE 2-Nigeria's Aug oil exports to top 2 mln bpd, 17-month high

2017-06-21
(Changes headline to barrels per day from barrels) By Libby George and Julia Payne LONDON, June 21 (Reuters) - Nigeria's crude oil exports are set to exceed 2 million barrels per day (bpd) in August, the highest level planned for 17 months, as the nation's oil industry nears a full recovery from militant attacks that crippled production in 2016.
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Etisalat Nigeria Faces Hunt for New Owner After Talks Fail

2017-06-20
Etisalat Nigeria faces a search for a buyer and operator after a consortium of banks seized control of a 45 percent stake from Emirates Telecommunications Corp. following the failure of talks about a $1.2 billion loan.
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FG to Release N350bn Immediately for Capital Projects

2017-06-20
After a six-month wait for the budget’s passage, the Minister of Finance, Mrs. Kemi Adeosun, has expressed the readiness of her ministry to immediately release N350 billion...
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Nigeria’s Half-Measures on Currency Are Only Half-Working

2017-06-20
A year after Nigeria scrapped a currency peg that sent foreign investors fleeing, it’s still battling to entice...
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Oil price rises to $44.58, still threatens 2017 budget benchmark

2017-06-20
OIL price, which dropped below Nigeria’s 2017 benchmark price of $44.50 per barrel, weekend, has leaped from $44.38 to $44.58 per barrel in the international market. Prices have trended downwards in the past two weeks...
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RMB Nigeria unveils N80bn commercial paper

2017-06-19
Rand Merchant Bank Nigeria Limited has received approval from FMDQ OTC Securities Exchange to register its N80bn commercial paper programme on the FMDQ platform...
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Nigerian govt to use N559 billion recovered loot to fund 2017 budget – Minister

2017-06-19
The federal government said on Monday it would use a fraction of the looted funds recovered so far to finance part of the...
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Nigeria seeks improved tax and customs revenue collection to fund 2017 budget -minister

2017-06-19
ABUJA, June 19 (Reuters) - Nigeria seeks to improve its collection of revenues from taxes and customs duties to fund the country's record 7.44 trillion-naira ($22.99 billion) 2017...
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Nigeria records first trade deficit with UK in seven years

2017-06-19
The negative growth of the economy and low crude oil output has weakened Nigeria’s international trade with most of its partners, particularly the United Kingdom, IFE OGUNFUWA writes...
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Economic recovery: Banks anticipate increased demand for loans in Q3

2017-06-19
BANKS are anticipating increased lending and borrowing activities in the third quarter of the year, driven by expected upsurge in economic activities during the quarter...
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NECA tasks FG on constitution of SEC, PenCom Boards

2017-06-19
THE Nigeria Employers Consultative Association, NECA, has expressed concern over the non-approval by the National Assembly of Board of some key regulatory agencies, including the Securities and Exchange Commission, SEC; National Pensions Commission, PenCom; Financial Reporting Council of Nigeria, FRCN; and Nigerian Social Insurance Trust Fund, NSITF.
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Kale: Nigeria Will Exit Recession Next Year

2017-06-19
Barring further economic upheavals or exogenous shocks, the Nigerian economy is expected to exit the recession in 2018, the Statistician General of the Federation, Dr. Yemi Kale has said...
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Nigeria: RMB Nigeria to Raise 80 Billion From FMDQ for Projects

2017-06-18
Infrastructure projects' financing by corporates in the country would soon receive added boost as Rand Merchant Bank (RMB) Nigeria got approval from FMDQ OTC Securities Exchange to register its...
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Nigeria’s inflation rate drops to 16.25% in May

2017-06-15
WorldStage Newsonline-- Nigeria’s Consumer Price Index (CPI) which measures inflation dropped by 0.99 percent to 16.25 percent (year-on-year) in May 2017 from 17.24 percent in April, according to the data released today by the National Bureau of Statistics...
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Naira posts marginal gain, closes at 364/dollar

2017-06-13
The naira posted a marginal gain against the United States dollar at the parallel market on Monday, closing at 364/dollar...
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Derivatives’ll trigger financial market growth – NSE

2017-06-13
The First Vice-President, Nigerian Stock Exchange, Mr. Abimbola Ogunbanjo, has said the development of new and intricate financial instruments, otherwise called derivatives, will trigger exponential growth of the country’s financial market...
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CBN injects $413.5m in economy to sustain Naira value

2017-06-13
The Central Bank of Nigeria (CBN) yesterday intervened in the inter-bank Foreign Exchange market to the tune of 413.5 million dollars to further shore up the international value of the Naira. In a statement in Abuja by its acting Director, Corporate Communications...
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Naira soars in parallel market, gains further against dollar

2017-06-12
Naira continued its impressive form against the dollar at the weekend as it exchanged at N365 to the greenback. The local currency had closed at 367/dollar on Friday, after closing between 367/dollar and 368/dollar for most days of last week...
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WEEKLY ECONOMIC INDEX: NIGERIA’S FOREIGN RESERVES DECREASES AS THE NAIRA CONTINUES TO APPRECIATE

2017-06-12
Since the global oil price crash in 2014, Nigeria has been one of the hardest-hit economies due to its over-dependence on oil as its main source of revenue. China’s economic slowdown, as well as the United States’ rate hike, also affected its economy adversely. As a result, Nigeria’s economic growth...
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Acting President Osinbajo signs 2017 budget

2017-06-12
Acting President Yemi Osinbajo has signed the 2017 appropriation bill into law. Mr. Osinbajo signed the budget at about 4:40 p.m. on Monday inside his conference room in the presence of the...
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Osinbajo to sign 2017 budget today

2017-06-12
Nigeria’s President Muhammadu Buhari has directed the acting president, Yemi Osinbajo, to sign the 2017 Appropriation Bill into law. The National Assembly passed the budget on May 11, more than four months after it was submitted to it by the President. It is expected that Osinbajo, who is currently in Anambra, would append the budget when he returns to Abuja later on Monday...
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FMDQ approves registration of Rand Merchant Bank’s N80bn Commercial Paper

2017-05-26
FMDQ OTC Securities Exchange has approved the listing of Rand Merchant Bank’s N80 billion Commercial Paper, CP, programme on its platform.
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CBN injects $205m as Naira falls to N379/$

2017-05-23
The Central Bank of Nigeria (CBN) yesterday injected $205 million into the foreign exchange market even as the naira depreciated to N379 per dollar in the parallel market.
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Nigeria: Naira Watch - CBN Injects $186.5 Million for Invisible, SMEs As Naira Stable At N379/$

2017-05-23
The Central Bank of Nigeria (CBN) injected $186.5 million into the foreign exchange market even as the naira remains stable at N379 per dollar in the parallel market.
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Central bank of Nigeria

2017-05-22
The Monetary Policy Committee (MPC) met on the 22nd and 23rd of May, 2017, against the backdrop of slowly improving global growth prospects even as international cooperation continues to be threatened by anti-globalization sentiments in major advanced economies.
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Osinbajo signs three executive orders

2017-05-18
In exercise of the presidential authorities, Acting President Yemi Osinbajo on Thursday signed three executive orders that will significantly change some of the ways government business and operations are conducted in the country forthwith.
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MPC's Warped Monetary Policy

2016-03-28
After a massive easing of monetary policy in its meeting in November 2015, the monetary policy committee (MPC) of the Central Bank of Nigeria (CBN) again tightened liquidity last week.
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Therapy for Nigeria's Traumatised Economy

2016-03-23
The federal government needs to develop a long-term economic plan to help address the challenges facing the economy, writes Obinna Chima
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Economic Outlook and Review

2016-02-18
This report is an analysis of the Nigerian economy over the 2010 through 2015 periods with particular focus on the nation's Gross Domestic Product, Inflation, and Merchandise Trade Statistics. The report also includes forecasts for the aforementioned variables over the 2016- 2019 period.
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Central Bank of Nigeria Communique No. 105

2016-01-26
The Monetary Policy Committee met on 25th and 26th January, 2016 against the backdrop of weakening global economic prospects as well as increased risks in the domestic economic environment. In attendance at the meeting were 10 out of the 12 members.
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