Business news in nigeria 2017

Here are some of the major business news in Nigeria in 2017:

1. Economic Recession: Nigeria slipped into its second recession in five years in 2017, with the economy contracting by 2.1% in the second quarter of the year. The recession was caused by a combination of factors, including a decline in oil prices, a drop in oil production, and a decline in agricultural output.
2. Currency Devaluation: The Nigerian government devalued the naira by 30% in June 2017, from N280 to a dollar to N370 to a dollar. This was done to address a shortage of foreign exchange and to stabilize the currency.
3. Fuel Subsidy Removal: The Nigerian government removed fuel subsidy in June 2017, leading to a significant increase in the price of petrol. The removal of the subsidy was aimed at reducing the country's fuel import bill and increasing revenue.
4. Agricultural Sector Growth: The agricultural sector was one of the few bright spots in Nigeria's economy in 2017, with growth of 2.5% in the first half of the year. The sector was boosted by a rise in production of crops such as rice, maize, and soybeans.
5. Investment in Infrastructure: The Nigerian government invested heavily in infrastructure in 2017, including the construction of new roads, bridges, and power plants. The government also launched a number of initiatives aimed at improving the country's transportation network, including the development of a new rail network.
6. Telecoms Sector Growth: The telecoms sector in Nigeria continued to grow in 2017, with the number of mobile phone subscribers increasing by 10% to 155 million. The sector was boosted by the launch of new services and the expansion of existing networks.
7. Banking Sector Consolidation: The banking sector in Nigeria underwent significant consolidation in 2017, with a number of mergers and acquisitions taking place. The consolidation was aimed at increasing efficiency and reducing costs in the sector.
8. Oil and Gas Sector Challenges: The oil and gas sector in Nigeria faced a number of challenges in 2017, including a decline in oil production and a rise in oil theft. The sector was also affected by a decline in global oil prices.
9. Nigerian Stock Exchange (NSE) Performance: The NSE All-Share Index fell by 13.4% in 2017, due to a decline in investor confidence and a rise in market volatility.
10. Government's Economic Recovery Plan: The Nigerian government launched an economic recovery plan in 2017, aimed at stimulating economic growth and reducing poverty. The plan included a number of initiatives aimed at improving the business environment, increasing investment, and promoting economic diversification.

Some of the major business news stories in Nigeria in 2017 include:

• Dangote Cement's IPO: Dangote Cement, one of Nigeria's largest cement producers, listed on the NSE in 2017, raising N240 billion in the process.
• MTN Nigeria's IPO: MTN Nigeria, the country's largest telecoms operator, listed on the NSE in 2017, raising N1.8 trillion in the process.
• Airtel Nigeria's Acquisition: Airtel Nigeria, the country's third-largest telecoms operator, acquired a 49% stake in Visafone, a Nigerian telecoms company, in 2017.
• Seplat's Acquisition: Seplat, a Nigerian oil and gas company, acquired a 45% stake in Eland Oil & Gas, a Nigerian oil and gas company, in 2017.
• FBN Holdings' Acquisition: FBN Holdings, a Nigerian banking group, acquired a 75% stake in FBNQuest, a Nigerian investment bank, in 2017.

These are just a few examples of the many business news stories that made headlines in Nigeria in 2017.