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Media Highlights 22-09-2022
(Source: Vetiva Research, Date: 22-Sep-2022)

 

Global Market News

 

Fed raises rates by another three-quarters of a percentage point, pledges more hikes to fight inflation "" CNBC

In its quest to bring down inflation running near its highest levels since the early 1980s, the central bank took its federal funds rate up to a range of 3%-3.25%, the highest it has been since early 2008, following the third consecutive 0.75 percentage point move. Click Fed rate hike September 2022: Rates raised by three-quarters of a percentage point (cnbc.com) for more.

 

EU ministers agree to press ahead with new Russia sanctions "" Reuters

European Union foreign ministers agreed on Wednesday to prepare new sanctions on Russia and increase weapons' deliveries to Kyiv after President Vladimir Putin ordered the country's first wartime mobilisation since World War Two to fight in Ukraine. Click EU ministers agree to press ahead with new Russia sanctions | Reuters for more.

 

Germany nationalises gas giant amid energy crisis "" BBC

Germany is to nationalise gas giant Uniper in an effort to secure energy supplies amid the war in Ukraine. The deal will see the German government take on a 98.5% stake in the firm at a cost of €8.5bn (£7.4bn). Germany is Europe's biggest importer of Russian gas, and has been particularly squeezed as Russia has reduced supplies in recent months. Click Germany nationalises gas giant amid energy crisis - BBC News for more.

 

Political News

 

PDP crisis deepens as Wike, loyalists pull out of Atiku's campaign "" ThisDay

The last may not have been heard of the crisis in the Peoples Democratic Party (PDP ) as the Governor Nyesom Wike-led tendency in the party, has pulled out of the Presidential Campaign Council of Atiku Abubakar, except the party's National Chairman, Dr. Iyorcha Ayu, steps down. Click PDP Crisis Deepens as Wike, Loyalists Pull Out of Atiku's Campaign "" THISDAYLIVE for more.

 

Obi's manifesto to be released before campaign "” Utomi "" Vanguard

Utomi, who disclosed this in an exclusive interview with Vanguard in Abuja, said: "Ëœ'There is a manifesto ready and it will be released before campaign starts. We have it but we decided to keep it secret until campaigns starts.'' Click Obi's manifesto to be released before campaign "” Utomi (vanguardngr.com) for more.

 

Electoral Act 2022: Gbajabiamila dismisses calls for fresh amendments before elections "" The Guardian

Speaker of the House of Representatives, Femi Gbajabiamila, has dismissed calls for fresh amendments to the Electoral Act 2022, saying such was not advisable now that the 2023 general elections are just a couple of months away. Click Electoral Act 2022: Gbajabiamila dismisses calls for fresh amendments before elections | The Guardian Nigeria News - Nigeria and World News "” Nigeria "” The Guardian Nigeria News "" Nigeria and World News for more.

 

Macroeconomic News

 

FG to leave behind N60.9 trillion debt, other liabilities in 2023 "" The Guardian

The Federal Government's total debts and contingent liabilities have hit N60.9 trillion even as the figure could balloon to near N65 trillion before the end of the year, as President Muhammadu Buhari-led administration scrambles for any available funds to survive the current financial squeeze before its expiration in May, next year. Click FG to leave behind N60.9tr debt, other liabilities in 2023 "” Nigeria "” The Guardian Nigeria News "" Nigeria and World News for more.

 

Buhari at UNGA, seeks debt cancellation "" Vanguard

In what appeared to be a valedictory speech, President Muhammadu Buhari yesterday addressed the United Nations General Assembly, UNGA, in New York for the last time and called for debt cancellation for developing countries, noting that it poses ...severe challenges" to the affected nations. Click Buhari at UNGA, seeks debt cancellation (vanguardngr.com) for more.

 

$47 million Paris Club refund: Court sets aside consent judgment favouring Firm "" ThisDay

The Chief Judge of the Federal High Court, Justice John Tsoho, has set aside a consent judgment entered in favour of Panic Alert Security Systems Ltd against the Trustees of the Nigeria Governors' Forum (NGF) for payment of some individuals and organisations for the roles they played in the Paris Club refund received by the federal government. Click $47m Paris Club Refund: Court Sets Aside Consent Judgment Favouring Firm "" THISDAYLIVE for more.

 

PENGASSAN fingers military in 600,000-barrel daily stolen "" Punch

The National President of PENGASSAN, Festus Osifo, said oil theft was a collaborative crime between military personnel assigned to protect oil installations and the locals running illegal refineries. He alleged that the military and other security agencies were aiding and abetting criminals to steal the crude with the active connivance of the regulatory agencies in charge of the nation's petroleum industry. Click PENGASSAN fingers military in 600,000-barrel daily stolen (punchng.com) for more.

 

Senate: PIA won't solve oil industry challenges without addressing crude theft "" ThisDay

The Senate has said the current massive oil theft in the country, if not immediately curbed could frustrate the implementation of the Petroleum Industry Act (PIA) passed in to law last year by the National Assembly. Click Senate: PIA Won't Solve Oil Industry Challenges Without Addressing Crude Theft "" THISDAYLIVE for more.

 

Nigeria-Siemens Power Project: FG to begin inauguration of new equipment in two weeks "" ThisDay

The Federal Government, yesterday, said all was set for the commencement of inauguration of the first set of power equipment procured under the Presidential Power Initiative (PPI), popularly known as Nigeria-Siemens power project. It hinted that the inauguration would begin in the next two or three weeks. Click Nigeria-Siemens Power Project: FG to Begin Inauguration of New Equipment in Two Weeks "" THISDAYLIVE for more.

 

Nigeria eyes OECD membership to boost seeds export "" Punch

The Federal Government through its National Agricultural Seeds Council has commenced moves to make Nigeria a full member of the Organisation for Economic Cooperation and Development in order to boost the country's export of seeds. Click Nigeria eyes OECD membership to boost seeds export (punchng.com) for more.

 

Nigeria targets 10MT per hectare maize production by 2025 "" The Guardian

The Federal Government, through Nigeria Sovereign Investment Authority (NSIA), has unveiled plans to support increased maize production from 1.5tonnes to 10tonnes per hectare by 2025. Click Nigeria targets 10MT per hectare maize production by 2025 | The Guardian Nigeria News - Nigeria and World News "” Business "” The Guardian Nigeria News "" Nigeria and World News for more.

 

NCS, stakeholders brainstorm to boost export "" Punch

The Nigeria Customs Service has engaged maritime stakeholders operating free trade zones in the country concerning the procedure for export from the zones into the country. Click NCS, stakeholders brainstorm to boost export - Punch Newspapers (punchng.com) for more.

 

Company News

 

CBN approves payment coy for Access Corporation "" Punch

The Central Bank of Nigeria has given its final approval for a new payment subsidiary, Hydrogen Payment Services Company Limited, a company fully owned by Access Corporation. This was disclosed in a letter signed by the Access Corporation's Secretary, Mr Sunday Ekwochi on Wednesday. Click CBN approves payment coy for Access Corporation (punchng.com) for more.

 

 

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