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Nigeria in 1min: Economic, Business and Financial Headlines - 090323

Mar 09, 2023   •   by   •   Source: Proshare   •   eye-icon 362 views

PROSHARE MARKETS

Investors Gain N107.43bn as NGXASI Advances by 0.35%; Overnight Rate Expands to 11.00%; BDC Rate Appreciates to N750 - The NGX All-Share Index advanced by 0.35% to close at 55,801.14 basis points as against the flat position recorded previously to close at 55,603.94 basis points at the end of the last trading session. In Naira terms, the NGX Market CAP records a N107.43bn gain. YTD, the NGXASI Stands at +8.88%. Source Proshare Research Read More

 

PROSHARE ECONOMY

Price of 50kg Bag of Tomato Has Risen to N19,000 from N10,000 in One Year - Oil prices rose to $86.31pb on deeper supply concerns over Russia’s ban on its oil exports. In the near term, we expect oil prices to remain bullish, driven by improved demand prospects in China, a major importer. This would bolster export earnings as well as fiscal revenue, aiding external reserve accretion and stabilizing the naira in the parallel market. Source FDC Ltd Read More

Lagos, Kano get lion’s share as LGs share N2tn - Local Government Areas in Nigeria got N2.02tn from disbursed federal allocation in 2022. This came as LGAs in Lagos, Kano, Oyo, Katsina, and Rivers states raked in the highest allocations for the year. Local government areas in the five states got 24.83 per cent (N500.38bn) of the total allocation. Source Punch Read More

Manufacturers account for 28.76 per cent of FIRS collections in Q3 2022 - Despite the lingering challenges in the real sector, Nigeria’s manufacturing sector, in Q3, 2022 contributed 28.76 per cent to lift tax collection indices of the Federal Inland Revenue Services (FIRS) overall revenue. Source Guardian Read More


PROSHARE BUSINESS

Fuel scarcity to linger till after elections – Marketers - The scarcity of Premium Motor Spirit, popularly called petrol, in Abuja and other northern states could persist till after Saturday’s gubernatorial elections in various states, oil marketers said on Tuesday. Source Punch Read More

US Treasury to Pitch African Countries on Pressuring Russia - The US Treasury Department’s second-highest official will take a simple message to a handful of African countries later this month: The sooner Russia ends its war in Ukraine, the better off you are. Source Bloomberg Read More

 

PROSHARE TECHNOLOGY

Nigeria’s digital economy sees $4.4 billion investment in four years - Nigeria’s digital economy space has recorded over $4.4 billion investments as a result of strategic collaborations and programmes. The Director-General, NITDA, Kashifu Inuwa, disclosed this in Abuja, at a stakeholders briefing organised by the Ministry of Women Affairs in commemoration of the 2023 International Women’s Day with the theme: ‘DigitALL: Innovation and Technology for Gender Equality.”. Source Guardian Read More

 

PROSHARE FINANCE

#IWD2023: Technology Can Close the Financial Exclusion Gap of 740m Women Around the World - As the world marks the 2023 International Women’s Day focused on the theme “DigitALL: Innovation and technology for gender equality” there is much work to be done in deepening the financial inclusion of women across the world. Source Proshare News Read More


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