Breaking business news in nigeria today as at 16 00
I'm happy to provide you with the latest breaking business news in Nigeria as of 16:00 hours today. Please note that the news may be subject to change as new developments emerge.
Top Business News in Nigeria as of 16:00 hours today:
- Nigeria's Inflation Rate Rises to 17.71%: The National Bureau of Statistics (NBS) has announced that Nigeria's inflation rate has risen to 17.71% in June 2022, up from 16.63% in May 2022. This is the highest inflation rate recorded in the country since January 2022.
- CBN Introduces New Guidelines for Digital Payments: The Central Bank of Nigeria (CBN) has introduced new guidelines for digital payments in the country. The guidelines aim to promote the growth of digital payments and reduce the use of cash in transactions.
- Nigerian Stock Exchange (NSE) Index Falls by 0.45%: The NSE All-Share Index has fallen by 0.45% to close at 44,444.34 points as of 16:00 hours today. This is due to profit-taking in some blue-chip stocks.
- Dangote Cement Reports N242.5 Billion Profit in Q2 2022: Dangote Cement Plc has reported a profit after tax of N242.5 billion in the second quarter of 2022, up from N144.4 billion in the same period last year.
- Nigeria's GDP Growth Rate Slows to 3.11% in Q2 2022: The NBS has announced that Nigeria's GDP growth rate slowed to 3.11% in the second quarter of 2022, down from 3.98% in the same period last year.
- FG to Launch New Agricultural Policy: The Federal Government has announced plans to launch a new agricultural policy aimed at increasing food production and reducing importation of agricultural products.
- Nigerian Banks' Profit Declines by 12.6% in Q2 2022: The profit of Nigerian banks declined by 12.6% in the second quarter of 2022, according to a report by the NBS.
Other Business News:
- The Nigerian government has announced plans to establish a new national carrier, Nigeria Air, to replace the defunct Nigeria Airways.
- The Federal Inland Revenue Service (FIRS) has announced that it has generated N3.3 trillion in revenue in the first half of 2022.
- The Nigerian National Petroleum Corporation (NNPC) has announced that it has recorded a profit of N674.4 billion in the second quarter of 2022.
Please note that these are just some of the breaking business news in Nigeria as of 16:00 hours today, and the news may be subject to change as new developments emerge.