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Nigeria: Equities lose previous gains

Equities market closed today on a negative note, as NSEASI depreciated by -0.16% to close at 26,513.65 points as against +0.09% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -15.64%. Market Breadth Market breadth closed negative as NAHCO led 7 Gainers as against 13 Losers topped by GLAXOSMITH at the end of today’s…

Oil prices fall as tension over US-china trade war dims

Oil prices fell more than 2 percent on Monday on diminished excitement surrounding the partial trade agreement between the U.S. and China. Following last week’s jolt, investors grew skeptical of the agreement as it became clear that Washington and Beijing had different interpretations of the outcome of last week’s talks. “It’s clearly a market that…

2020 budget scales second reading in Senate

…adjourns plenary till Nov. 29 The 2020 Appropriation Bill submitted to the National Assembly last week by President Muhammadu Buhari on Tuesday scaled second reading on the floor of the Senate. The upper chamber has subsequently adjourned plenary till 29th November, 2019, to enable Ministries, Departments and Agencies (MDAs) of government defend their respective budget…

Senate passes amended Production Sharing Contract Bill

The Senate, in a bid to shore up Nigeria’s revenue earning, on Tuesday passed the Deep Offshore and Inland Basin Production Sharing Contract Act 2004(amendment) Bill 2019. This was just as the upper chamber received a formal request from President Muhammadu Buhari seeking the amendment of the Act. The bill was passed by the upper…

Ekiti to support young entrepreneurs grow their business

Ekiti State government has promised to provide needed support for young entrepreneurs who are willing to expand their scope of business, in line with the government’s vision of igniting entrepreneurship spirit among its citizens. The First Lady of Ekiti State, Erelu Bisi Fayemi, disclosed this at the closing session of the Ekiti Entrepreneurship Week 2019…

Why Oyo is spending CBN’s N7.6 bn loan on farm settlements—Makinde

‘I stopped previous govt from squandering loan’ The Government of Oyo State has observed certain misinformation, misconception and outright mischief in the interpretations being given to the N7.6 billion Agriculture loan, which the state government on Thursday secured the nod of the State House of Assembly to access. A statement by the Chief Press Secretary…

Oil prices rise on trade war optimism, as Iran reports tanker attack

Oil prices rose in early trading on Friday on hopes that the U.S.-China trade negotiations might result in a limited breakthrough. President Trump said that talks on Thursday went well, and the two sides resume negotiations on Friday. An attack on an Iranian tanker (more below) also bolstered oil prices. IEA cuts demand forecast. The…

Ekiti attracts $100m for four critical projects

… as Fayemi lays foundation for airport, new justice ministry, traditional rulers chamber to mark first anniversary Ekiti state government has said the state’s social economic growth is hinged on a diversified economy driven by skilled and healthy workforce. This plan, the government says has begun to yield result as evident in the partnership it…

Approval for N7.6 bn loan, victory for Oyo State people — Makinde

…. Clarifies initial N10bn loan …Says ‘we’ll continue to be transparent on public funds’ Oyo State Governor, Engineer Seyi Makinde, on Friday, clarified that the N7.6 billion loan approved by the House of Assembly on Thursday for the upgrading of two farm settlements in Akufo and Eruwa, to Farm Estates, is a victory for the…

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