Aliko Dangote Just made these huge revelations at the Economist summit:
Aliko Dangote, Africa’s richest man and President and Chief executive officer of Dangote Group, says his cement company Dangote Cement has seen a 47 percent growth in sales volumes between January and February 2016.
Moody’s Set To Downgrade These 3 Nigerian Banks, Here’s Why:
Moody’s Investors Service has placed on review for downgrade the long-term ratings of 3 Nigerian banks — Access Bank plc (Ba3/B1 RUR down, b2 RUR down), Sterling Bank plc (B2 RUR down, b3 RUR down) and Bank of Industry (Ba3 RUR down).
A member of the CBN’s Monetary Policy Committee dropped a bombshell about banks:
Be careful when you are analysing bank stocks and deciding whether to buy, sell or hold as its not everyday your regulator comes out to tell you plainly that banks are basically cooking the books and lying about their Non performing loans (NPL) exposure.
NNPC RESTRUCTURES: Meet The New Unit Heads:
Minister of State for Petroleum Resources Dr. Ibe Kachikwu yesterday announced that President Muhammadu Buhari has consented to the restructuring of the Nigerian National Petroleum Corporation (NNPC).
JAT explains how Oando will pay off its $450 million loans in 2 years:
Wale Tinubu Group CEO of Oando says the company will pay off its existing $450 million in debts in about 2 years.
Nigeria GDP Report: These Are The Sectors To Invest In That Are Still Growing:
The National Bureau of Statistics (NBS) released its GDP data for the fourth quarter of 2015 showing that not surprisingly growth in Nigeria, Africa’s biggest economy, slowed as oil prices fell and manufacturing sank deeper into recession.
Here is how Nigerian Banks shared $178.6 million sold by the CBN last week:
Data from Thisday reveals a total of $178.6 million was sold by the Central Bank to Nigerian banks last week. GTB topped the list displacing Zenith Bank as the bank that bought the most forex.
Economist Summit: Okey Enelamah says Naira options may involve “pricing flexibility”:
Nigeria’s minister of Industry, Trade and Investment Okey Enelamah said at the Economist Summit today that options for the naira may involve pricing flexibility to create an environment for the private sector to bring in money.
Member of CBN’s MPC explains everything that is wrong with Buhari’s plan to borrow N2.2 trillion:
The Central Bank of Nigeria has released its 2016 February Monetary Policy Communique including personal statements of members of the committee. One prominent member of the MPC who analysts (including Nairametrics) like to read from is Economist Abdul Ganiyu Garba.
Why the bulls are descending on Africa Prudential:
Africa Prudentials Plc released its 2015 full year results showing earnings per share increased year on year by 18% to 72 kobo per share. The company also reported a 15% hike in revenue to N2.5 billion with growth coming from both its Registrar’s and Investment business.