NEWSPAPER REVIEW – 8th October, 2018

Specifically, the Fed increased the target for the bank’s

BDC benchmark rate by 0.25 per cent to a range of two-2.25
Exch. Rate (USD) 361 per cent. To read more on this article, see page 17
Exch. Rate (Pounds) 478
Exch. Rate (Euro) 415
Inflation 11.23
Private Sector Investment Will Trigger
Crude Oil Price $84.31 Growth in Africa’s Health Sector

Preliminary findings uncovered in a special report

BUSINESS DAY
Nigeria’s risk premium reaches year high
amid rising political uncertainty
presented at a high-level dialogue titled: ‘Health and
financing in Africa’ has advocated private sector
participation as. To read more on this article, see page 50

The spread between the 10 year federal government of THE NATION

Nigeria (FGN) bond and the US 10 year bond rose to its
highest level this year, as it reached 12 percent. To read
more on this article, see page 46
Govt releases N795m for pension payment

About N795 million has been released for the payment of

Businesses express confidence in CBN’s
expectation survey for October
Nigerian businesses expressed more optimism on the
macro economy in October 2018 compared to the outlook
for the previous month, the Central Bank of Nigeria’s
(CBN) Monthly Business Expectations Survey Report
released on Friday shows. To read more on this article,
see page 2
accrued pension of retirees in Lagos State.
The Lagos State Pension Commission (LASPEC) said
yesterday that the gesture was in fulfilment of monthly
pension settlement embarked on by Governor Akinwunmi
Ambode.
LASPEC said the fund was released for 213 public
service retirees under the Contributory Pension Scheme
(CPS).

It said 9,804 retirees had been paid their accrued pension

THIS DAY arrears of N40,245 billion.

US Rate Hike to Push up FG’s Cost of The cash, it said, was paid into the beneficiaries’
Retirement Savings Accounts (RSA) from the inception of
Borrowing
the Governor Ambode administration to date.
The federal government will have to take foreign loans at
“His Excellency has remained committed to pensioners’
higher cost as it seeks to finance the 2018 budget, due to
welfare despite the huge funding obligations facing the
the interest rate hike in the United States.
administration.
The Minister of Budget and National Planning, Senator
“For this reason, funds are released monthly into the RSA
Udoma Udo Udoma, had said the federal government
of employees. The accrued rights are gradually being
would borrow N1.6 trillion to finance part of the N9.12
cleared,” LASPEC said in a statement by its Director-
trillion 2018 budget.
General, Mrs. Folashade Onanuga. To read more on this
article, see page 4
A significant portion of this amount was expected to come
from foreign borrowing.

The United States Federal Reserve last Wednesday

raised interest rates again at the end of its Federal Open
Market Committee (FOMC) meeting, raising concerns of
increased turmoil in emerging markets (EMs).
‘Health/ wellness sector’s investment’ll How Atiku emerged as Buhari’s main
reach $1.8trillion’ challenger

Business and investment opportunities in Nigeria and
other African countries’ health and wellness sector will
reach $1.8 trillion by 2030.
The opportunities are primarily in risk pooling; and
technological advances including remote patient
monitoring and tele-health.
This was the major highlight of the ‘African Business:
Health Forum’ publication, which final report will be
launched in early February 2019, at the African Union
(AU) Summit.
The Africa Business: Heath Forum 2019 will see the
United Nations Economic Commission for Africa
(UNECA), in partnership with GBCHealth, the Aliko
Dangote Foundation and the Private Sector Health
Alliance of Nigeria collaborate.
Former Vice President Atiku Abubarkar yesterday
emerged as the candidate of the opposition Peoples
Democratic Party (PDP), making him the main challenger
to President Muhammadu Buhari of the All Progressives
Congress (APC) in the 2019 presidential election.
At the party’s national convention which held at the
Adokie Amiesiekema Stadium in Port Harcourt, Rivers
State, Atiku polled 1,532 votes to defeat his closest rival
Sokoto State Governor Aminu Waziri Tambuwal who
scored 693 votes.
Senate President Bukola Saraki scored 317 votes to
come third, while Senator Rabiu Musa Kwankwaso
followed with 158 votes. Alhaji Sule Lamido polled 96
votes, while former Kaduna State Governor Ahmed
Makarfi scored 74 votes. To read more on this article, see
page 5

The collaboration will bring together some African

leaders, chief executives and business leaders,
philanthropists, as well as high-level representatives of
the AU, United Nations, and the African Development
Bank (AfDB) to discuss the continent’s health challenges
and opportunities for investment. To read more on this
article, see page 32

DAILY TRUST

FSDH warns FG on imminent debt crisis

FSDH Research has warned that the Federal

Government needs to urgently implement policies that will
grow and diversify the revenue base of the country to
avoid imminent debt crisis.

FSDH Head of Research, Ayodele Akinwunmi, disclosed

this at a monthly media briefing with journalists in Lagos
at the weekend.

Akinwunmi said, “Our analysis of the ratio of the interest

payment on domestic debt relative to the Fedreal
Government’s allocation from the Federal Account
Allocation Committee (FAAC) shows that the government
is spending too much of its revenue to pay interest on
loans.

“This leaves the government with little resources to spend

on critical sectors of the economy that could support
strong growth and maintain a healthy economy to
generate revenue.” To read more on this article, see page
17