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News Express

News Express

Coverage of the Nigerian financial sector and the markets in more depth than other news publications and with more breadth than trade publications, distilling what’s on the agenda for key sectors including, Investment Banking, Trading, and Technology, Fund Management, Alternatives, Markets, Commodities, Companies, among others.

2021-04-26 05:50:59.0

EU-Africa Forum Ends As Nigeria Sees New Opportunities in Agriculture

Nigeria and other countries in Africa offer enormous opportunities if they embarkon green growth which is investing in climate-smart crops to build more resilient food systems, climate-resilient infrastructure and energy transition.The African Development Bank in an optimistic note of enormous opportunities inherent in green growth in Africa’s recovery pathway from its first recession in 25 years, energy, agriculture and infrastructure are key areas of investment potential for a post-Covid-19 recovery in Africa.AfDB President, Akinwumi Adesina says with abundant solar, wind, hydro and geothermal energy resources, Africa’s energy transition alone presents a $100 billion per year investment opportunity.He says Agriculture potentially offers massive investments in climate-smart crops to build more resilient food systems and climate-resilient infrastructure offers investment potential of between $130 billion and $170 billion.

2021-04-26 05:50:59.0

EU-Africa Forum Ends As Nigeria Sees New Opportunities in Agriculture

Nigeria and other countries in Africa offer enormous opportunities if they embark on green growth which is investing in climate-smart crops to build more resilient food systems, climate-resilient infrastructure and energy transition.

2021-04-12 05:03:55.0

Nigerian, African Banks Face Climate, Environmental Risk Threats

Although the non-performing loans ratio of Nigerian banks stands at 6.3 per cent, above the prudential benchmark of five per cent,Moody’s Investors Service has asserted that banks in Nigeria, as well as those in South Africa and the Democratic Republic of Congo, stand exposed to high risks environment as a result of their rising loan portfolios or their continuous lending to environmentally sensitive sectors. It says they are also vulnerable through outsized holdings of government bonds.In a research study by the international agency on Africa’s financial institutions,Moody’s highlighted that African economies have always been susceptible to environmental risk but that climate change makes shocks more frequent and more severe. For African banks, it stated, disclosure of the risks they face and management of those risks are not yet well advanced

2021-04-12 05:03:55.0

Nigerian, African Banks Face Climate, Environmental Risk Threats

Although the non-performing loans ratio of Nigerian banks stands at 6.3 per cent, above the prudential benchmark of five per cent, Moody’s Investors Service has asserted that banks in Nigeria, as well as those in South Africa and the Democratic Republic of Congo, stand exposed to high risks environment as a result of their rising loan portfolios or their continuous lending to environmentally sensitive sectors. It says they are also vulnerable through outsized holdings of government bonds.

2021-04-05 04:38:46.0

Analysts Weigh in on Nigeria’s Economy Post-Q4 Recession Exit

Analysts sampled by Business A.M. have maintained that Nigeria's economic recovery will be moderate as it continues to embrace the new normal despite the country posting an 8-year historical 9.7 per cent quarter on quarter growth in its gross domestic product$443 billion in real terms, which helped to place the country’s GDP growth as the best in the world ahead of China (2.6%), Japan (3%), USA (4%) and Columbia (6%).

2021-04-05 04:38:46.0

Analysts Weigh in on Nigeria’s Economy Post-Q4 Recession Exit

Analysts sampled by Business A.M. have maintained that Nigeria's economic recovery will be moderate as it continues to embrace the new normal despite the country posting an 8-year historical 9.7 per cent quarter on quarter growth in its gross domestic product$443 billion in real terms, which helped to place the country’s GDP growth as the best in the world ahead of China (2.6%), Japan (3%), USA (4%) and Columbia (6%).

2021-03-29 04:03:09.0

Nigeria’s Jobless Rate Worsens Misery Index

Nigeria’s rising joblessness rate has continued to add to its worsening misery index and low human capital development, forcing analysts to canvass for functional and structural policy changes to counter the huge unemployment which continues to defy several investment funds, policies, and initiatives by the federal government to curb the excess job losses through support for the economy. The latest unemployment and underemployment statistics from the National Bureau of Statistics in Abuja showed that the labor force, which comprises of the population of working age between 15 and 64, increased to 122 million in the last quarter of 2020, 4.3% higher than the figure recorded in the second quarter of the same year, while the unemployment rate worsened to 33.3% from the 27.1% reported in the respective quarters, posting the worst performance on record.

2021-03-29 04:03:09.0

Nigeria’s Jobless Rate Worsens Misery Index

Nigeria’s rising joblessness rate has continued to add to its worsening misery index and low human capital development, forcing analysts to canvass for functional and structural policy changes to counter the huge unemployment which continues to defy several investment funds, policies, and initiatives by the federal government to curb the excess job losses through support for the economy. The latest unemployment and underemployment statistics from the National Bureau of Statistics in Abuja showed that the labor force, which comprises of the population of working age between 15 and 64, increased to 122 million in the last quarter of 2020, 4.3% higher than the figure recorded in the second quarter of the same year, while the unemployment rate worsened to 33.3% from the 27.1% reported in the respective quarters, posting the worst performance on record.

2021-03-29 04:03:09.0

Nigeria’s Jobless Rate Worsens Misery Index

Nigeria’s rising joblessness rate has continued to add to its worsening misery index and low human capital development, forcing analysts to canvass for functional and structural policy changes to counter the huge unemployment which continues to defy several investment funds, policies, and initiatives by the federal government to curb the excess job losses through support for the economy. The latest unemployment and underemployment statistics from the National Bureau of Statistics in Abuja showed that the labor force, which comprises of the population of working age between 15 and 64, increased to 122 million in the last quarter of 2020, 4.3% higher than the figure recorded in the second quarter of the same year, while the unemployment rate worsened to 33.3% from the 27.1% reported in the respective quarters, posting the worst performance on record.

2021-03-22 03:47:23.0

Nigeria's Apex Bank Faces Uncertainty in Policy Rate Decision

Economic experts have expressed concerns about the current twist within the Nigerian economic landscape which continues to put the Central Bank of Nigeria Monetary Policy Committee in a tight corner, providing them little room for a rate maneuver as they converge for the second statutory meeting.As the MPC meets Monday and Tuesday to deliberate on a number of indices to helpdecide whether to hold or tweak the rates, inflation has gotten in the way already reaching a four year high at 17.33%, as well as other major talking points such as the recent exit from the recession with minimal growth at 0.1% in Q4 2020, depleting external reserves in the face of rallying oil price in the global market.

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