Weak regulation puts Agric crowdfunding at risk of Ponzi schemes
Agriculture crowdfunding platforms that sell products promising higher returns than the rates the companies can earn on risk-free investments may be pushing risky bets that are increasingly skirting the lines of Ponzi schemes amid a hunt for yield by investors and weak regulations.
Why Nigeria’s 2019 growth is not sustainable
While Nigeria may have recorded its biggest real economic growth in the past 12 quarters through to 2019, it leaves nothing to cheer as the growth was majorly driven by the oil sector, a sign that country remains weak in achieving its diversification goals.
The economy grew 2.27 per- cent in 2019 to record its biggest annual growth in about three years, and has got fiscal policymakers singing its praises, but analysts say the impressive growth is not sustainable since it was largely driven by developments in heavily volatile oil sector.
Nigeria plans to allow PFAs to invest in infrastructure
An infrastructure-focused fund that draws contributions from pension funds, Development Finance Institutions (DFI) and foreign investors is being set up to tackle Nigeria’s infrastructure needs and boost the economy. This is according to Dave Uduanu, CEO of Lagos-based pension fund administrator, Sigma Pensions, who has been a part of deliberations over the government initiative.
CBN to offer N111.11bn worth of T-Bill to investors today
The Central Bank of Nigeria (CBN) will today (Wednesday) offer to investors N111.11 billion worth of Treasury-Bill at the Primary Market Auction (PMA).
The Nigerian Treasury-Bill (NTB) consists of N20.37 bil- lion for 91-day tenor, N38.75 billion for 182-day and N51.99 billion for 364-day tenor.
The auction is likely to witness an oversubscription with a slight moderation in stop rates due to abundant system liquidity and a rela- tively low yield environment in the secondary market, ac- cording to financial market analysts at FSDH.
Dangote Fertiliser commences pre-testing of $2bn plant
Dangote Fertiliser Limited has begun the countdown to the inauguration of its $2 billion granulated urea fertiliser complex located in the Dangote Free Zone, Lekki, Lagos, raising hopes for improved agricultural production in the country.
With a capacity of 3 million tons per annum, the plant has been classified as the largest granulated urea fertiliser complex to emerge in in the history of the fertiliser industry.
