Nigerian Stocks Head For Best Annual Run Since 2013

Nigerian stocks are headed for their highest annual gain in seven years riding on low yields in the country’s fixed-income market. The equities benchmark index in Africa’s largest economy recorded its highest return, rising 45.7% this year, the most among 93 equity indexes tracked by Bloomberg. It’s the world’s best performing stock market year-to-date. Investors’ appetite for riskier assets have remained strong due to persistent low yield on fixed-income instruments, Chapel Hill Denham said in a note to clients on Tuesday. This has been buoyed by traders positioning for Dangote’s…

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World Food Prices Jump To Six-Year High —UN

Global food commodity prices rose sharply in November to their highest level in nearly six years, the UN food agency said Thursday, due in part to adverse weather conditions. The Food and Agriculture Organisation said prices of the most globally traded foodstuffs were up across the board, putting extra pressure in particular on 45 countries that need outside help feeding their populations. The FAO Food Price Index averaged 105 points during the month, up 3.9 percent from October and 6.5 percent from a year earlier. “The monthly increase was the…

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Nigeria-Germany Tie: German Govt Promises To Commit 0ver 10m Euro To Covid-19 Response Plan, Economic Sustainability Programme

The German government is commit over 10 million Euros to the support the Nigeria government ongoing Nigeria Economic Sustainability Plans and the National COVID-19 Response Plan. This forms parts of the agreements reached by bother Nation during the virtual Nigerian/German government consultation meeting on bilateral development cooperation. Correspondent Dominic Eyemese Reports that Minister of State, finance and national planning Clem Agba signed the agreement on side of the Nigeria government. Spread the love

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Covid-19 Aftermath: India Enters First Recession In 73 Years

India’s economy contracted 7.5 percent between July and September, performing the poorest among major advanced and emerging economies and entering a technical recession for the first time since independence, official data showed Friday. Although the figures were an improvement on the record 23.9-percent contraction recorded last quarter, they indicate that Asia’s third-largest economy is in for a tough fight as it attempts to revive demand and create jobs even as coronavirus infections climb. The two successive quarters of contraction mean that the country has now entered a “technical recession” for…

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Recession: CBN Retains Lending Rate At 11.5%

The Monetary Policy Committee of the Central Bank of Nigeria has retained the Monetary Policy Rate at 11.5 per cent. The CBN Governor, Godwin Emefiele, disclosed this after the committee’s two-day meeting in Abuja on Tuesday. It also retained the Cash Reserve Ratio and Liquidity Ratio at 27.5 per cent and 30 per cent respectively. At the last MPC meeting in September, the committee reduced the MPR from 12.5 per cent to 11.5 per cent. This is coming days after Nigeria entered second recession in five years as official figures…

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NASS LEADERSHIP MEETS PRES. BUHARI, CALLS FOR END TO #ENDSARS PROTEST

The leadership of the National Assembly says it is time for the #ENDSARS protest currently going on in most parts of the country to stop. The Senate President,  Ahmed Lawan and Speaker of the House of Representatives,  Femi Gbajabiamila spoke to journalists today after meeting with president Muhammadu Buhari at the presidential villa ITV statehouse correspondent Ikharo Attah completes the Report. The leadership of the National Assembly says it is time for the #EndSARS protest currently going on in most parts of the… Posted by Independent Television-ITV Abuja on Sunday, 18…

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PDP Governors’ Kick Against 0.5% Police Trust Fund Deduction

The Peoples Democratic Party, PDP, Governors’ Forum has implored President  Muhammadu Buhari and the National Assembly to repeal Section 4(1) of the Nigeria Police Trust Fund (Establishment) Act, 2019 which purportedly  authorises the President to deduct 0.5% of the total revenue accruing to the Federation Account for the benefit of the Nigeria Police Trust Fund. The said deduction, according to the Governors, is patently unconstitutional. The call was contained in a communique issued at the end of a Zoom Meeting of the PDP Governors’ and signed by their Chairman and…

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Nigeria Celebrates 2020 World Standard Day, Advocates Protection Of The Planet With Standards

As Nigeria join the rest of the world to commemorate this year’s world day, Experts in international standardization around the world have called for substantial reduction in human impact and protection of the planet, seeking political will, concrete action and the right tools among which are international standards. This advocacy is predicated on the human and large scale industrial activities which modern civilization have added to earth’s natural greenhouse gases which negatively impact our climate and with it, all forms of life. In a statement from the office of Director…

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President Buhari Full Speech At 2021 Budget Presentation

PROTOCOLS It is with pleasure that I present the 2021 Federal Budget Proposals to this Joint Session of the National Assembly. Distinguished and Honourable Leaders, and Members of the National Assembly, at this juncture, I wish to commend your tremendous efforts in approving the revision of the 2020 – 2022 Medium-Term Expenditure Framework and Fiscal Strategy Paper, and passage of the 2020 Appropriation (Repeal and Amendment) Act, in response to the Coronavirus Pandemic. Today marks an important occasion in our quest to accord the federal budget process the seriousness it…

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President Buhari To Present 2021 Budget On Thursday

President Muhammadu Buhari will, on Thursday, present the 2021 budget estimate at a joint session of both chambers of the National Assembly. Special Assistant (Press) to President of the Senate, Ezrel Tabiowo,  made the announcement  following receipt of a letter from the President which was read during plenary by the Senate President on Tuesday. The letter reads: “May I crave the kind indulgence of the Distinguished Senate to grant me the slot of 11:00hrs on Thursday, 8th October, 2020, to formally present the 2021 Appropriation bill to the Joint Session…

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