Real Estate

Real estate and construction sector increased GDP by N8.9 trillion - report

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February 27, 2023
The contributions of the real estate and construction sector to Nigeria’s real Gross Domestic Product increased by N8.9trn in the fourth quarter of 2022, according to the latest GDP report released by the National Bureau of Statistics. The sector’s GDP contribution rose to N28.9tn despite high-interest rates, inflation, cost of building materials, amongst other challenges faced last year. The…
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Market

Lagos transferred N137 billion worth of NGX bonds.

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February 27, 2023
The Lagos State government has listed a N137, 328,000,000  series IV bond on the Nigerian Stock Exchange. This was revealed in a notice by the exchange in its weekly report of activities on the market. NGX said that the bond is a 10-Year 13.00 per cent fixed rate unsecured…
EconomyMarket

Indirect taxes rise to N3tn – NBS

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February 27, 2023
The indirect tax burden on Nigerians rose by 18.88 per cent to N3.03tn in 2022 amid an economic downturn and rising inflation. According to the National Bureau of Statistics, Nigerians paid N3.03tn as indirect tax in 2022, an 18.88 per cent increase from the N2.55tn that was…
Market

Insurance Guinea paid N686M in claims over three years.

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February 27, 2023
The Managing Director, Guinea Insurance Plc, Mr Ademola Abidogun, has said the company paid about N686m claims in three years. He said the company was committed to the satisfaction of customers and the insuring public with prompt settlement of claims as well as improved service delivery. Abidogun spoke during the quarterly CEO forum for insurance and pension journalists which was sponsored by…
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Magazine

Missing 2030 emission reduction target risky - IMF

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February 27, 2023
Failure to control emissions by 2030 could lead to more than 2 degrees of global warming by 2030, a catastrophic tipping point for further climate change, according to an International Monetary Fund report. Public Understanding of Politics” notes that concerns about…
Banking

Chike-Obi is looking for help with a margin loan.

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February 27, 2023
The Chairman of Fidelity Bank Plc, Mr Mustafa Chike-Obi, has said that securities and margin lending can boost the volume of trade in the Nigerian capital market. A statement said he spoke when he was invested as a fellow of the Chartered Institute of…
Banking

Wema Bank is committed to supporting the growth of women.

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February 27, 2023
Wema Bank says it is committed to providing women with the knowledge they need to succeed in their careers and businesses. The bank said it is preparing to celebrate International Women’s Day in 2023 by stimulating discussion about women’s economic growth. The statement said the celebration in Lagos aims to respect women and enable them to excel in their personal and professional…
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Economy

Airlines urge to expand insurance coverage

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February 27, 2023
Some experts have decried the low level of insurance penetration in the country and called on industry stakeholders to tailor products to the different regions in order to boost its patronage. They spoke at the symposium organised by the UNILAG Actuarial Science and…
Banking

Non-oil exports reached $75 million in 2 months - report

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February 27, 2023
Earnings from non-oil export in October and November rose to $75m, figures obtained from the Central Bank of Nigeria have revealed. The CBN stated in its November economic report that non-oil export earnings rose by 16.9 per cent to $0.40bn, from $0.35bn in October. It…
Market

Slowdown in production causes currency shortage - NESG

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February 27, 2023
The Nigerian Economic Group Summit said Nigeria’s weak manufacturing sector was the main factor behind the currency crisis. Senior Economist at NESG Dr. Wilson Erumebor reveals this in a recent article published by Foresights Africa. Entitled “Nigeria in 2023: Closing the Productivity Gap and Boosting Economic Resilience,” the report says the country has struggled over the past…
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