FIRST SOVEREIGN SUKUK ATTRACTS OVER N5BN IN 2017, SAYS COMMITTEE
The Technical Committee on Non-interest capital market has said the first sovereign Sukuk attracted over N5b into the market from 1,600 retail investors in 2017.

It also said the next level of engagements was to work with supra-national entities (such as IFC, AfDB), state governments, institutions, such as Federal Mortgage Bank to include Sukuk options in their capital investment plans.
Read more.....https://newsbreakers.ng/first-sovereign-sukuk-attracts-over-n5bn-in-2017-says-committee/



FG TARGETING SEVEN PER CENT GROWTH BY 2020 – UDO UDOMA
The Federal Government is targeting an ambitious seven per cent economic growth by 2020, against a mere 0.8 per cent achieved in 2017, the Minister of Budget and National Planning, Udoma Udo Udoma has said.

Udoma, who spoke to journalists in Washington D.C. on the sidelines of the Spring meetings of the IMF/World Bank Group, said: “Our target is seven per cent in 2020 and that will make me comfortable; above seven per cent will make me even much more comfortable. And that is why we are working so hard.”
Read more.....https://newsbreakers.ng/fg-targeting-seven-per-cent-growth-by-2020-udo-udoma/


IMF WORRIED ABOUT NIGERIA’S ABILITY TO SERVICE EXTERNAL LOANS
The International Monetary Fund (IMF) has expressed concern over Nigeria’s ability to service its external loans estimated at over $18.9billion, given its mono-product economy status and low revenue base.

IMF Director, African Department, Abebe Aemro Selassie, while answering questions on rising debts in sub-Sahara African countries during a press conference on the sidelines of the IMF/World Bank Group meetings in Washington D.C., said notwithstanding the fact that Nigeria’s debt-to-GDP ratio is still okay relative to the average, there are still concerns about its ability to repay the loans.
Read more......https://newsbreakers.ng/imf-worried-about-nigerias-ability-to-service-external-loans/


BANKS FACE LOWER PROFITS ON NEW CBN DISCLOSURE RULE
A new accounting rule mandating banks to make further disclosures of their assets, including loan portfolio, will make Nigerian lenders report lower profits, it has been learnt.

As the banks begin to roll out their first quarter financial reports this week, a decline in profits is expected following the introduction of the new accounting regime by the Central Bank of Nigeria.
Read more.....https://newsbreakers.ng/banks-face-lower-profits-on-new-cbn-disclosure-rule/


TATA TO PRODUCE 40% OF TRUCKS IN NIGERIA
ata Africa Services Nigeria Limited says it plans to manufacture 40 per cent of its trucks being sold in the country locally from next year, Punch reports.

It also hinted about establishing a production centre for vehicle components in Nigeria as part of its contribution to the development of the nation’s automotive industry.
Read more.....https://newsbreakers.ng/tata-to-produce-40-of-trucks-in-nigeria/