Today’s Business Day Newspaper Headlines, Friday 21st December 2018

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Today’s Business Day Newspaper Headlines, Friday 21st December 2018

Oil price slide, empty ECA signpost tough 2019

Fri, 21 Dec 2018
Nigeria’s excess crude oil account (ECA), the only buffer for the country against oil revenue volatility, fell seventy-six percent to just above $600 million in three weeks is causing consternation across the land but it could be a taste of what to expect next year as oil price continues to collapse unstoppably. Oil prices plunged…
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CBN pushes yields higher to maintain FX stability, lower inflation expectations
Fri, 21 Dec 2018
In a bid to ensure that there is not too much naira flowing around the economy, to curb inflation and demand for dollars, the Central Bank of Nigeria (CBN) is forcing banks to buy stabilisation securities and other short term instruments. This has seen a spike in yields on these short term financial assets, higher…
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ECA signs ‘3million agreement with EU for one market
Fri, 21 Dec 2018
The United Nations Economic Commission for Africa (ECA) and the European Union have signed a ‘3million agreement aimed at supporting national implementation strategies for the continental free trade area. The establishment of an African trade observatory is also planned, and will be a key pillar of the African Continental Free Trade Area. The agreement was…
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KWIRS expends N275m on community development, generates N20.5b in eleven months
Fri, 21 Dec 2018
The Kwara State Internal Revenue Service (KWIRS), has disclosed that it has expended a total sum of N275million on community service for the development of the state since 2016. The agency equally informed that it has generated a total revenue of N20.5billion between January and November 2018. Murtala Awodun, the Executive Chairman of the agency…
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Expert highlights link between substance abuse, depression
Fri, 21 Dec 2018
Substance abuse and depression are commonly found together, says Richard Adebayo a consultant psychiatrist and clinical psychologist, at the Federal Neuropsychiatric Hospital Yaba. Adebayo explains that some of the correlations between substance abuse and depression among teenagers and young adults are on the increase in Nigeria. He further observes that abuse of these substances has…
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Cash-strapped consumers battle high food prices as Christmas beckons
Fri, 21 Dec 2018
As Christmas beckons, prices of staple foods have risen significantly, pricing out many Nigerian consumers who are battling falling disposable income. Novus Agro prices show that the price of a 50 kg of rice rose 22.31 percent, moving from N14,500 in December 2017 to N17,735 in the same period of 2018. The price of chicken…
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Uncertainty over availability of ‘Nigerian rice’ for Christmas
Fri, 21 Dec 2018
The United States Department of Agriculture (USDA) report on Nigeria’s rice import may have been false, but it is unlikely locally produced rice will be available for most Nigerians to consume during this festive season. Earlier this year, ‘Foreign rice’ was sold cheaper; in the N12,000 to N14,000 range whereas locally produced rice averaged N17,000….
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Unsafe drinking water, poor sanitation, major challenge in developing countries
Fri, 21 Dec 2018
Emmanuel Akpabio, a University don, says unsafe drinking water, inadequate sanitation and poor hygiene are a major challenge in developing countries with dire consequences of avoidable deaths and diseases. According to the University of Uyo lecturer, of the global deaths, from the one billion people without access to treated drinking water and 2.5 billion lacking…
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How to prevent festive weight gain without exercising
Fri, 21 Dec 2018
During the festive season, peoples waistlines tend to expand as their self-control contracts. While food and drink flow freely, restraint is in short supply, and sedentary activities abound. And, as we relax, we tend to throw caution to the wind and go back for a second helping. Festive weight gain is so commonplace that it…
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Phamatex pharma bags awards for quality products, manufacturing practices
Fri, 21 Dec 2018
Phamatex Industries Limited, a leading manufacturer of pharmaceutical products in Nigeria has been named ‘Best Pharmaceutical Company of the Year’ by the Health Writers Association of Nigeria (HEWAN). According to the leadership of the association who organised the awards in collaboration with Maximpact Communications, the award was conferred on Phamatex because of its production of…
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