Of Sukuks

What are Sukuks? A Sukuk is a Bond…but it has a key difference.   With traditional bonds, a borrower receives funds from investors in exchange for a document called a bond. The issuer of the bond, (the borrower)  has a contractual obligation to repay to bond holders (the lenders) on certain specified dates (usually 6…

UBA rated ‘buy’, beats estimates on improved assets yields

United Bank for Africa Plc (UBA) has posted third-quarter earnings that beat analysts’ estimates, fuelled by improved yield on loan book and money market instruments. For the first nine months through September 2017, UBA’s net income spiked by 23.04 percent to N60.92 billion, ahead of the N54 billion estimate of 8 analysts surveyed by BusinessDay…….

Senate urges FG to incorporate SPVs for alternative energy projects

The Senate has urged the Federal Government to immediately incorporate Special Purpose Vehicles (SPVs) for the implementation of alternative energy projects. These include hydropower, solar as well as wind power projects. Also, the upper legislative chamber urged the Federal Government to separate the Ministry of Power, Works and Housing by appointing a substantive Power Minister….

Stakes higher for new oil projects as investors bet on price recovery

As crude oil prices looks to hover around $50 per barrel far longer than necessary, the stakes for new projects are getting higher. Crude oil inventories have seen upswings and downswings making it increasingly difficult to forecast. The American Petroleum Institute (API) reports a surprise build of 3.097 million barrels in United States crude oil……

Nigeria’s monthly inflation cools to 11-month low, as food inflation stays high

Nigerian inflation on a month-on-month basis, rose at the slowest pace since November and rose at a slower pace for the fourth successive month in September, a development likely to test the Central Bank’s resolve to hold interest rate at a record high 14 percent, amid weak economic growth. The consistent slump in the rate……

Nigeria’s cocoa output to hit 203,300MT in December despite aging trees  

Nigeria cocoa output is seen hitting 203,300MT by December 2017 despite huge numbers of old and worn-out cocoa trees across major producing states in the country, as farmers commence main-crop harvest. Farmers link the increase in production to favourable weather condition which has helped in boosting the country’s cocoa pod production in recent months. “We……