Global Market News
Bank of England hikes by 50 basis points, says UK may already be in recession "" CNBC
The Bank of England voted to raise its base rate to 2.25% from 1.75% on Thursday, lower than the 0.75 percentage point increase that had been expected by many traders. Click Bank of England hikes, says UK may already be in recession (cnbc.com) for more.
Oil prices edge down, recession fears back in focus "" Reuters
Oil prices fell amid recession fears and a stronger U.S. dollar, though losses were capped by supply concerns after Moscow's new mobilization campaign in its war with Ukraine and an apparent deadlock in talks on reviving the Iran nuclear deal. Click Oil prices edge down, recession fears back in focus | Reuters for more.
Japan intervenes to prop up the yen for first time in 24 years "" CNN
Japan tried to shore up the value of its currency Thursday by buying yen and selling US dollars for the first time in 24 years. The currency has lost about 20% this year against a surging US dollar. Click Japan intervenes to prop up the yen - CNN for more.
FG, Atiku trade words over originality of economic blueprint "" The Guardian
The Federal Government has described the economic blueprint unveiled last week by the presidential flag-bear of the Peoples Democratic Party (PDP), Alhaji Atiku Abubakar, as a ...crude attempt at copying all that the administration of President Muhammadu Buhari has done." Click FG, Atiku trade words over originality of economic blueprint | The Guardian Nigeria News - Nigeria and World News "â€ Nigeria "â€ The Guardian Nigeria News "" Nigeria and World News for more.
Atiku, PDP dare Wike, Makinde, begin campaigns Wednesday "" Punch
The People's Democratic Party has finalised plans to inaugurate its presidential campaign council on Wednesday, September 28, regardless of the withdrawal of some party heavyweights and prominent campaign council members led by Rivers State Governor, Nyesom Wike. Click Atiku, PDP dare Wike, Makinde, begin campaigns Wednesday (punchng.com) for more.
UNGA77: Buhari woos investors, says Nigeria requires N348 trillion "" Punch
The President, Major General Muhammadu Buhari (retd.), on Thursday in New York, told foreign investors that Nigeria's economy was ripe for increased investment. This was as he lamented the reduced private capital inflows, especially Foreign Direct Investment for infrastructure and natural resource access projects. Click UNGA77: Buhari woos investors, says Nigeria requires N348tn (punchng.com) for more.
Debt Burden: Nigeria needs help, says AfDB's Adesina "" Vanguard
President of the African Development Bank, AfDB, Dr. Akinwumi Adesina, has said Nigeria needs help from the international community in tackling its debt burden. Click DEBT BURDEN: Nigeria needs help, says AfDB's Adesina (vanguardngr.com) for more.
Banks' credit to economy up 2.2% to N61.2 trillion "" Vanguard
Commercial banks' credit to the economy rose by 2.17 percent to N61.2 trillion in August from N59.9 trillion in July, even as currency-in-circulation, increased by 0.9% to N3.24 trillion in August, from N3.21 trillion in July. Click Banks' credit to economy up 2.2 % to N61.2trn - Vanguard News (vanguardngr.com) for more.
NNPCL: Energy transition to cost $410 billion "" The Nation
The Nigerian National Petroleum Company Ltd yesterday said the ongoing energy transition would cost the Federal Government $410billion. Its Group Chief Executive Officer, Malam Mele Kyari made this disclosure at the Nigerian International Economic Partnership held in New York yesterday. Click NNPCL: Energy transition to cost $410b The Nation Newspaper (thenationonlineng.net) for more.
NNPC, US Corporation, Exim Bank seal gas projects deal "" The Nation
The Nigerian National Petroleum Company (NNPC) Ltd yesterday said it had opened talks with the United States Finance Corporation and Exim Bank to seek financing for its multi-billion-dollar gas projects. Click NNPC, US Corporation, Exim Bank seal gas projects deal The Nation Newspaper (thenationonlineng.net) for more.
Customs seizes 75,000 litres of petrol in Seme, Badagry "" Vanguard
Comptroller, Customs Area Controller, Bello Jibo, said in a statement by Mr Hussein Abdulahi, the command's spokesman, in Seme, Lagos, that the seized containers of petrol were concealed inside sacks and jerry cans. Click Customs seizes 75,000 litres of petrol in Seme, Badagry - Vanguard News (vanguardngr.com) for more.
Electricity workers threaten to shut national grid "" The Nation
The National Union of Electricity Employees (NUEE) has again threatened to shut down the national grid if the federal government fails to honour its demands soon. Click Electricity workers threaten to shut national grid The Nation Newspaper (thenationonlineng.net) for more.
Electricity consumers pay N210 billion in three months "" Punch
The Nigerian Electricity Regulatory Commission, on Thursday, said power consumers paid a total of N210.17 billion to distribution companies in the fourth quarter of last year. It disclosed this in its Quarterly Report for Fourth Quarter 2021 released on Thursday, noting that the N210.17 billion represented 9.34% of the total electricity bill given to consumers by electricity distribution companies during the period. Click Electricity consumers pay N210bn in three months (punchng.com) for more
NEXIM: ECOWAS regional shipping line to commence operation Q1 2023 "" ThisDay
Speaking at the Finance Correspondents Association of Nigeria (FICAN) 2022 Annual Conference with the theme, ...Boosting Domestic Capacity for Sustainable Export Earnings," held in Lagos, Head, Strategy and Communication, Nigeria Export-Import Bank (NEXIM), Mr. Tayo Omidiji has disclosed that the Sealink Project was conceived out of the need for Nigeria to have regional shipping line. Click NEXIM: ECOWAS Regional Shipping Line to Commence Operation Q1 2023 "" THISDAYLIVE for more.