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Economy
Fitch Ratings has revised the outlook on Nigeria’s Long-Term Issuer Default Ratings (IDRs) to positive from stable and affirmed the IDRs at ‘B’.
Gov. Nasir Idris of Kebbi, on Wednesday, presented a budget proposal of N250.1 billion for the 2024 fiscal year to the state House of Assembly.
Gov. Umo Eno of Akwa Ibom has presented an Appropriation Bill of N845.63 billion for the 2024 fiscal year to the state House of Assembly for consideration and approval.
Fitch Ratings has downgraded Nigeria-based Coronation Merchant Bank Limited’s (CMB) Long-Term Issuer Default Rating (IDR) to ‘CC’ from ‘B-‘ and its Viability Rating (VR) to ‘cc’ from ‘b-‘.
Equities analysts at Afrinvest Limited have kept shares of Fidelity Bank, FBNH and Stanbic IBTC on sell recommendation due to weak upside potential, detail from its week stock recommendation shows.
President Bola Tinubu has called for German investment in critical sectors of Nigerian economy such as power and rail transportation.
The average yield on the Federal Government of Nigeria (FGN) bond rose by 8 basis points