Financial analysts to keep date on the Mid Day Dialogue on 95.1 Nigeria Info FM

 

This weekend! My team of Financial analysts take turns to break down events in the financial sector in the last Five days, in the country on Saturday March 14, 2015, on the Mid Day Dialogue only on 95.1 Nigeria Info FM Abuja, by 10am.

Join the conversation right here on  facebook.com/Nigeriainfoabuja, @NigeriainfoAbj, Phone lines: 094600951, 07098504076, 08031230137, 0803123093 - 4and listen online here http://www.nigeriainfo.fm/abuja/niginfo_abuja_audio.html

Nigeria raises 91 bln naira in bonds at higher yields

Nigeria raised 91 billion naira ($456.14 million) at a bond auction held during the week with yields rising by more than one percentage point across all tenors.

The Debt Management Office said a total of 20 billion naira worth of the 5-year bond was sold at 16.49 percent, up 95 basis points from 15.54 percent from the previous sale on Feb 11.

The 10-year paper was sold at 16.84 percent compared with 15.75 percent previously, raising a total of 40 billion naira, while 31 billion naira worth of the 20-year debt note was sold at a yield of 19.99 percent, up from 15.85 percent previously.

Dealers said the sale attracted low demand from investors.

Nigeria's Lafarge Africa says 2014 pretax profit down 36 pct

 

Lafarge Africa, the Nigerian arm of world biggest cement firm, Lafarge, said on Friday 2014 pretax profit fell 35.9 percent to 41.19 billion naira ($207 million).

Lafarge Africa said in a statement that turnover also dropped marginally to 205.84 billion naira from 206.07 billion naira a year earlier.

The firm proposed to pay a dividend of 3.6 naira per share, compared with 1.2 naira the previous year.

Gombe state sells 5 bln Naira bond at 16 pct yield

Nigeria's northeastern Gombe state has raised 5 billion naira ($25 million) by selling a 7-year bond with a 16 percent yield to help fund new roads and schools.

The bond, which was issued with a maturity date of 2022, is the first tranche of a 10 billion naira debt issuance programme, the official who is an adviser to the issue said in a notice.

A total of three applications for 5 million units of 1,000 naira each was received from investors.

The state had in 2012 issued a 20 billion naira 7-year bond maturing in 2019 with a yield of 15.5 percent.

BUSINESS UPDATE now on Soundcloud

 

Listen to the daily review of financial activities in the country - BUSINESS UPDATE, all the episodes you have missed right here on https://soundcloud.com/imohrich/imohs-business-update-march-14

Financial analysts to keep date on the Mid Day Dialogue on 95.1 Nigeria Info FM

 

This weekend! My team of Financial analysts take turns to break down events in the financial sector in the last Five days, in the country on Saturday March 14, 2015, on the Mid Day Dialogue only on 95.1 Nigeria Info FM Abuja, by 10am.

Join the conversation right here on  facebook.com/Nigeriainfoabuja, @NigeriainfoAbj, Phone lines: 094600951, 07098504076, 08031230137, 0803123093 - 4

Eyakenyi Commends Jonathan on housing…Commissions 102 Housing units

President Goodluck Jonathan has been commended on the impressive steps the present administration has taken in the last four years to revamp and reinvigorate the housing sector to ensure that Nigerians have access to affordable and quality housing.

The commendation was given by the Minister of Lands Housing and Urban Development, Mrs Akon Eyakenyi at the commissioning of the 102 units ministerial pilot housing scheme in Suleja Niger State Tuesday, fully funded by the Federal Mortgage Bank of Nigeria (FMBN)

Eyakenyi said the commissioning of the housing which is the first of such exercise in the six geo political zones of the country is a demonstration of the desire of the President to bring affordable houses to the doorsteps of citizen’s particularly low income earners.
She said, “I am happy about the efforts of the present administration to place the housing sector in the epicenter of the Transformation Agenda in order to fully harness its potential for sustainable and equitable growth.

Eyakenyi disclosed that the housing gap in the country is being reduced gradually by the present administration especially with the drive to build more houses.

She disclosed that the ministry provided the land; the project was funded by FMBN while the developers were responsible for the actual construction based on specifications and timelines.

In his speech, Managing Director of the bank, Gimba Ya'u Kumo described the commissioning as another credit to the successes of the President Goodluck Jonathan's Transformation Agenda in the Housing Sector.
 
Kumo disclosed that the manner of collaboration has been successfully implemented in the six geo political zones of the country for the benefit of Nigerians, especially contributors to the National Housing Scheme adding that under the arrangement, government provides construction financing and in most cases, unencumbered land for housing development.

NAIRA DEVALUATION: CBN ASSURES OF STABILITY IN THE CAPITAL MARKET

 

The Central Bank of Nigeria has assured investors in the capital market that the devaluation of the Naira will not affect the bourse.

Giving the assurance in an interview with newsmen in Abuja, CBN Deputy Governor, in charge of Financial System stability, Dr Joseph Nnanna, debunked the insinuations making rounds in some quarters that the devaluation of the Naira may crash the capital market, promising that there are strong fiscal measures put in place by the apex bank to ensure the smooth running of the capital market and other financial institutions.

Dr. Nnanna who added that since shares are quoted in Naira, insisted that instead there will be a bullish markets for the new instruments under the new higher rate, post the Naira depreciation and inflation rate upsurge.  

Listen to Audio here...

Ghana state oil company close to signing $700 mln loan

 

State-owned Ghana National Petroleum Corporation (GNPC) is close to signing a $700 million-loan from private commercial lenders led by commodity trader Trafigura as part of plans to recapitalise for expansion, its chief executive said on Tuesday.

GNPC holds a 13.64 percent stake in Ghana's flagship offshore Jubilee oil field, which is operated by Tullow Oil. It expects to export more than seven million barrels from the project this year, similar to the 7.68 million lifted in 2014, CEO Alexander Mould told Reuters.

BEFFTA-Nominated Nigerian Author Launches Writing Master-class

 

 Nigerian author, Chioma Nnani, who was nominated for a BEFFTA (Black Entertainment Film Fashion Television and Arts) Award, in the United Kingdom, for her writing, has launched an online writing course called the “Fearless Storyteller Course”.

The award-winning novelist says, “I noticed that I kept getting requests from people via email and social media, asking me to teach them to write the way that I do. Therefore, this course has been created for students to learn how to create believable characters, work out the elements of a story, and weave unforgettable stories from those elements.”

Previews (so, BEFORE the course was launched) have been incredible. One previewer actually said, “If I could go on CNN and talk about this writing course, I would. I've learned so much, just previewing it!”

The “Fearless Storyteller Course”, which was launched on 6 March, can be accessed at http://smnr.me/nkq4hn and is aimed at writers, bloggers and students (college and university), including the aspiring ones. It consists of audio lectures and exercises, which function as homework so that you'll know how you're really getting on with the course. 

There is currently a 32% discount in place. This discount, which lasts till 12 March, can be obtained by ordering the Lifetime Access course at http://smnr.me/nkq4hn and putting in BR32T at checkout. Yes, you have lifetime access to this course – which means you pay once, and can go through the course as many times as you like/need to.

Flight Delay: Aviation Minister, Passengers Stranded for Three Hours

 The Minister of Aviation, Mr. Osita Chidoka, along with several Lagos-bound passengers scheduled for Arik 736 flight from the Nnamdi Azikiwe International Airport (NAIA) in Abuja were yesterday stranded for more than three hours due to flight rescheduling by operators of the airline.

A frustrated passengers scheduled for the flight who spoke to THISDAY on condition of anonymity, said such behaviour by the airline operators in the country speaks volume of the way passengers are daily subjected to such delay  at the airports.

He added that it was more embarrassing that the Minister of Aviation was also supposed to board the flight, adding that even though the minister looked calm, he was obviously embarrassed by the inadequacies in the industry.
Read more here

Oando Energy announces start of oil production field in Nigeria

Oil and natural gas exploration company Oando Energy Resources Inc. announced the construction of infrastructure for Qua Iboe field in Nigeria is finished and commercial production has begun.

Oil and natural gas exploration company Oando Energy Resources Inc. announced the construction of infrastructure for Qua Iboe field in Nigeria is finished and commercial production has begun, according to a press release.

The Qua Iboe field is located near the mouth of the Qua Iboe River in the eastern Niger Delta, according to the company's website. The field covers approximately 3,459 acres of land.

Read more here...