Today’s Business Day Newspaper Headlines Wednesday 13th February 2019

Today’s Business Day Newspaper Headlines, Wednesday 13th February 2019

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Buhari vs. Atiku: It’s still the economy, stupid
Wed, 13 Feb 2019
Whether it is a worsening misery index, sluggish growth and poorer economic conditions compared to 2015, Nigerians are going into Saturday’s presidential elections with one of the world’s most dismal records for an incumbent in human capital, measured by income, health and education. In societies where performance determines election outcomes, many of Nigeria’s today’s political []
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BUY OR SELL OLD AND NEW CARS, PARTS, CAR MATERIALS AS CAR MART NG LAUNCH IN NIGERIA

2019 Elections: Industry awaits the ‘Mr President’ that understands role of insurance in economy
Wed, 13 Feb 2019
As elections kick-off on Saturday to produce the next Nigerian president, players in the insurance industry wish to have a ‘Mr. President’ that understands the economy and the role of insurance as a catalyst for economic growth. The reason is that no advanced economy anywhere in the world has developed without a strong insurance industry. []
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Hospitality, aviation sectors foresee lull beyond election week
Wed, 13 Feb 2019
Most sectors of the Nigerian economy are witnessing a lull in business due to fears and uncertainties over Saturday’s presidential election and a consequent high level of inactivity among corporate organisations, investors and the public. The worst hit are the hospitality and airline sectors, which rely on corporate activities and public movements to boost patronage. []
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How Agric Ministry’s tardiness costs Nigeria N576m
Wed, 13 Feb 2019
The delay of the Department of Fisheries, Federal Ministry of Agriculture, to summit the Self Reporting Tool (SRT) before the due date to the US-Food Safety Inspection Service (FSIS) is responsible for the loss of about N576million revenue the country would have earned in 2018 if there were no ban enforced on Nigerian fish export. []
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Atiku Abubakar wins a fair contest
Wed, 13 Feb 2019
There are large incumbency advantages in Nigeria’s politics stemming from control of the electoral agency (inspite of it been nominally designed to be an ‘Independent’ National Electoral Commission INEC), police, armed forces, Department of State Security (DSS) and NNPC! More than any of its predecessors, the Buhari Presidency (or more accurately the unelected clique led []
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Nigerian ports handle 85% of import trade value at over $15bn annually
Wed, 13 Feb 2019
As the major economic gateway, Nigerian seaports now handle over 85 percent of all the goods and services’, coming into the country with aggregate value exceeding the $15 billion mark annually, the Nigerian Ports Authority (NPA), has said. Nigerian Ports Statistics released by the National Bureau of Statistics (NBS) show that cargo traffic in the []
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Buhari, Atiku and poverty in between
Wed, 13 Feb 2019
Nigerians will return to the polls this weekend for the general elections ‘ that quadrennial ritual that ought to bring joy to the people, especially those voting for the first time, but has sadly become a nightmare to many. The elections have become so important to all Nigerians that almost everything else halts for it; []
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Updated: Nigeria’s plan to sell flared gas attracts over 700 investors
Wed, 13 Feb 2019
The Nigerian Gas Flare Commercialisation Programme (NGFCP) has attracted over 700 applications, Justice Derefaka, programme manager, has said. The NGFCP is an ambitious plan to sell over 700 million standard cubic feet of gas a day flared at 178 different sites in the country, roughly the same amount of gas used in generating grid power. []
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Ekiti vaccinates livestock against trans-border diseases
Wed, 13 Feb 2019
The Ekiti State government has vaccinated all livestock in the state against trans-border diseases which usually attack them. Oludare Abegunde, permanent secretary, Ministry of Agriculture and Rural Development, stated this while flagging-off of this years ‘Pestes des Petits Ruminant’ (PPR) otherwise called kata vaccination for sheep and goats in Ado-Ekiti. Abegunde, who stressed the economic []
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RTEAN has created 5000 jobs ‘ SGF
Wed, 13 Feb 2019
Secretary to the Government of the Federation (SGF), Boss Mustapha, has commended the job-creation efforts of the Road Transport Employers Association of Nigeria (RTEAN). The SGF, who spoke during the commissioning of additional 300 vehicles acquired by RTEAN in Abuja, said the association may have added 5000 jobs to the employment generation efforts of the []
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Signatures from Botswana, Zambia, Guinea Bissau take AfCFTA approval to 52
Wed, 13 Feb 2019
Signatures from Botswana, Zambia and Guinea Bissau have raised to 52 the number of countries that have approved the African Continental Free Trade Area (AfCFTA) during the recent 32nd AU Heads of State and Government Summit in Addis Ababa, Ethiopia. Nigeria, African biggest economy, is among the remaining three countries that are yet to sign []
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How asset management firms can venture into the impact investing landscape
Wed, 13 Feb 2019
Impact investment can be regarded as an intentional capital allocation into businesses or funds that are aimed at improving the society or environment and still making financial returns for the investor.
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Our Thoughts on Non-oil export and AfCFTA ‘ MAN
Wed, 13 Feb 2019
The performance of the economy in 2018 was fair as it recorded fragile growth. On the high side, GDP growth increased to 1.81 percent in the third quarter 2018 from 1.50 percent growth recorded in the second quarter of the year. Inflation headed southward, exchange rate was relatively stable, supply of foreign exchange improved and []
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Nigeria’s GDP expands by 2.38% in Q4
Wed, 13 Feb 2019
In the fourth quarter of 2018, Nigeria’s Gross Domestic Product (GDP) grew by 2.38percent in real terms (year-on-year). This represents an increase of 0.27percent points when compared to the fourth quarter of 2017 which recorded a growth rate of 2.11percent indicating a rise of 0.55percent points when compared with the growth rate recorded in Q3 []
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Investors gain additional N253bn as stocks’ rally continues
Wed, 13 Feb 2019
Stock investors booked additional N253billion gain at the end of trading session on Tuesday February 12, 2019 following ongoing rally at the Nigerian Stock Exchange (NSE). The Year-to-Date (YtD) returns stood at +3.28percent. At the sound of closing gong, 38 companies gained as against 14 losers. The NSE All Share Index (NSE) increased by 2.14percent []
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Emerging markets attract $30 bn in ETF despite big banks unease
Wed, 13 Feb 2019
Big banks say 2019 emerging markets equity traded funds’ (ETFs) rally may have gone too far but traders are putting money right in there anyway. An emerging market economy is a nations economy that is progressing toward becoming advanced, as shown by some liquidity in local debt and equity markets and the existence of some []
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Disrupting the Global Markets game in Nigeria
Wed, 13 Feb 2019
The advancement in technology has bridged international boundaries, now the whole world behaves like a single market. The truth is that you can earn money from trading financial Markets in UK, US, Australia, China and Europe and more using our local currency (Naira). The next generation trading platform by Eagle Global Markets (EGM) gives you []
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Listed manufacturers capitulate to headwinds as margins remain flat
Wed, 13 Feb 2019
The environment has been particularly torrid for listed manufacturers in Africa’s largest economy as low consumer spending, decrepit infrastructure, lack of proper regulations have continued to undermine their performance. To further exacerbate the already anaemic position of players in the industry is the combinations of uncertainties surrounding the forthcoming elections and vagaries of global macroeconomic []
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CBN says it’s likely to roll out PSB in first quarter
Wed, 13 Feb 2019
With the aim of increasing Nigeria’s financial inclusion rate, the Central Bank of Nigeria (CBN) has disclosed that the planned Payment Service Bank (PSBs) are likely to be granted license by the end of Q1 2019. The apex bank released an exposure draft guideline on of October 5, 2018, in which it proposed PSBs, a []
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UBS overhauls pay for 10,000 workers
Wed, 13 Feb 2019
Swiss bank UBS has overhauled its pay policy for 10,000 staff in a bid to reduce uncertainty about bonuses and cut how much time managers spend on allocating them. Employees working in the bank’s ‘corporate centre’ ‘ which includes human resources, marketing and communications staff ‘ will no longer receive variable bonuses, the bank confirmed []
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Fight over pay and profile torpedoed Andrea Orcel’s move to Santander
Wed, 13 Feb 2019
Banco Santander withdrew its offer to hire Andrea Orcel following last-minute disagreements over the star banker’s public profile and the size of his pay package, according to people familiar with the clash. The Spanish bank argued with the Italian-born Mr Orcel over whether he could attend the World Economic Forum in Davos this year, said []
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SMWLagos Day 2: How many legs to addressing financial inclusion in Nigeria
Wed, 13 Feb 2019
Nigeria’s financially excluded population remains a constant headache for policy makers and businesses. As the number of people living below the poverty line increases, so does that of those that are financially excluded, hence, the increase in efforts recently by authorities and partner agencies and companies on addressing the unbanked challenge. BusinessDay’s session on the []
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