#Power: Electricity supply plunges to
2,500MW after Militant Attack
The twin
attacks, last week, on Chevron’s oil and gas facilities in the Escravos area of
Delta state had resulted in a drop in power generation from about 3,600
megawatts (MW) to 2,500 MW, translating to a loss of 900MW, THISDAY has learnt.
Published by the This Day Newspaper
on Monday, 9th May, 2016
#Industry: FSDH foresees difficult
year for Nigerian banks
Following
massive impairment that have prompted several banks to issue profit warnings
and the general downturn in the Nigerian economy, the FSDH Merchant Bank
Limited (FMBL) has warned that 2016 will be a very challenging year for banking
businesses in Nigeria.
Published by the This Day Newspaper
on Monday, 9th May, 2016
#Industry: Recapitalisation-Operators
consider capital injection, merger to meet deadline
Capital
market operators (CMOs), who missed the September 30, 2015 deadline for
recapitalisation, are now intensifying efforts to meet the new December 31,
2016 date given by the Securities Exchange Commission (SEC). ThisDay checks
revealed that the CMOs are wooing investors for fresh capital or considering
merger options.
Published by the This Day Newspaper
on Monday, 9th May, 2016
#Power: NUEE pedges support for KEDC
The leadership of the National Union of Electricity Employees
(NUEE) has pledged to support the efforts of the Management of Kaduna Electric
to make the company a role model in the Nigerian Electricity supply industry. The
General Secretary of the union, Comrade Joe Ajero made the promise in Kaduna
when he led other national officers on a courtesy visit to the Managing
Director/CEO of Kaduna Electricity Distribution Company (KEDC), Garba Haruna.
Published by the This Day Newspaper
on Monday, 9th May, 2016
#Investment: Lagos releases N1.6bn
for Lekki free zone, woos investors
The Lagos
State Government has released N1.6 billion as part of its equity contribution
to the Lekii Free Zone Development Company (LFDC) to boost the on-going
infrastructural development as well as encourage investors’ participation in
the project.
Published by the This Day Newspaper
on Monday, 9th May, 2016
#Investment: Equities market rises
2.5% as investors swoop on MSCI listed stocks
Despite
closing in the red in two of the four days trading, the Nigerian equities
market maintained its positive run last week to close the week in the green.
The performance was boosted by the announcement that the MSCI will retain
Nigeria in its benchmark frontier market index.
Published by the This Day Newspaper
on Monday, 9th May, 2016
#Industry: DMO to sell N105bn Bonds
The Debt
Management (DMO) is expected to auction N15 billion, N40 billion and N50
billion of the FEB 2020, JAN 2026 and MAR 2036 bonds this Wednesday. The bonds
for auction are expected to clear at marginal rates of 12.8 per cent, 13.2 per
cent and 13.6 per cent for the FEB 2020, JAN 2026 and MAR 2036 bonds
respectively.
Published by the This Day Newspaper
on Monday, 9th May, 2016
#Awards: iSON Group bags double
Awards
iSON Group,
a major player in Africa’s Information Technology (IT) space has been recognised
with two awards on ‘Best Practices’ and Exceptional Corporate Social
Responsibility’ by the Great Place To Work (GPTW) organization.
Published by the This Day Newspaper
on Monday, 9th May, 2016
#Technology: FG backs Galaxy Backbone
on digital Inclusion
The Federal Government has said it will support Galaxy
Backbone towards the attainment of digital inclusion in order to meet
government’s aspiration for a digitally inclusive society.
Published by the This Day Newspaper
on Monday, 9th May, 2016
#IndustryPulse: First Bank Partners
Katsina on Sustainable Devt
Consistent
with its thought leadership stance and commitment to drive sustainable national
economic development, First Bank of Nigeria Limited, has partnered the Katsina
State Government in hosting the Katsina Economic Investment Summit with the
theme: “Unlocking Investment Potentials for Sustainable Development”.
Published by the This Day Newspaper
on Monday, 9th May, 2016
#SMEs: Microsoft announces Cloud
solutions provider programme
At the
recently concluded Worldwide Partner Conference, Microsoft announced expansion
in the services that Cloud Solutions Provider (CSP) partners offer to
small-and-medium business customers.
Published by the This Day Newspaper
on Monday, 9th May, 2016
#Employment: Ayade-Cross River
seaport will create 30,000 Jobs
The Cross
River Sate, Governor, Ben Ayade, has disclosed that the Deep Seaport to be
constructed in the state will create 30,000 jobs. The Deep Seaport located
around Bakassi waterways and the Atlantic Ocean is part of Ayade’s signature
projects, and includes the 260 kilometer Super Highway, which will link Calabar
Metropolis to Katsina-Ala in Benue State.
Published by the This Day Newspaper
on Monday, 9th May, 2016
#Agric: Senate Committee backs FG’s
plan to import grazing grasses from Brazil
The Senate
Committee on Agriculture at the weekend threw its weight behind federal
government’s decision to import grasses for grazing from Brazil. Chairman of
the committee, Senator Abdullahi Adamu, who made the disclosure in Abuja said
the importation of grazing pastures for cattle at designated places across the
country would proffer permanent solution to the protracted crisis between
farmers and herdsmen.
Published by the This Day Newspaper
on Monday, 9th May, 2016
#Infrastructure: FG needs N1.7tn to
complete 206 road projects, Says Fashola
He Minister
of Power, Works and Housing, Mr Babatunde Fashola, has said the federal
government will need as much as N1.7 trillion to complete about 206 road projects
it awarded in the past.
Published by the This Day Newspaper
on Monday, 9th May, 2016
#Innovation: Three Nigerians made
final list of $150,000 Africa Innovation prize
Three
Nigerians have been named as part of the 10 nominees for the Innovation Prize
for Africa (IPA), offering a grand share prize of US$150,000 and incentive to
spur growth and prosperity in Africa through home-grown solutions.
Published by the Guardian Newspaper
on Tuesday, 10th May, 2016
#CSR: Dangote Foundation donates N2b
to Borno IDPs
The
President of Aliko Dangote Foundation, Alhaji Aliko Dangote, said the
foundation has donated N2 billion to Internally Displaced Persons (IDPs) in
Borno state as the Muslims Ramadan Fast approaches.
Published by the Guardian Newspaper
on Tuesday, 10th May, 2016
#Empowerment: Entrepreneurship trade
fair begins tomorrow in Abuja
A two-day
entrepreneurship trade fair begins tomorrow at the Nigerian-Turkish Nile University,
Abuja. The fair, organized by the University’s Centre of Lifelong Learning, is
aimed at exposing participants to the essentials of planning for life after
university education.
Published by the Guardian Newspaper
on Tuesday, 10th May, 2016
#Oil: Oil prices fall to $44.05 amid
uncertainty over Saudi Arabia minister’s exit
International
crude oil prices dropped to 444.05 yesterday amid market uncertainty generated
by the removal of Saudi Arabia’s long-serving oil minister. Ali al-Naimi.
Published by the Guardian Newspaper
on Tuesday, 10th May, 2016
#Economy: ECOWAS’ red tapes threaten
nations’ share of $3.4 trillion free trade revenue
Nigeria and
other member countries in the Economic Community for West African States
(ECOWAS) may lose out in the $3.4 trillion combined GDP of the Continental Free
Trade Area (CFTA) economy by 2017 when the CFTA becomes operational if regional
trade challenges are not addressed.
Published by the Guardian Newspaper
on Tuesday, 10th May, 2016
#Investment: Passage of 2016 budget
will boost investors’ confidence, says LCCI
The Lagos
Chambers of Commerce and Industry (LCCI), has lauded the passage of the 2016
budget into law, describing it as a good development for the private sector.
The Director-General of the chamber, Muda Yusuf, told the News Agency of
Nigeria (NAN) that the elements of non-certainty created by the non-passage of
the budget had been removed.
Published by the Guardian Newspaper
on Tuesday, 10th May, 2016
#IndustryPulse: Transcorp revs up expansion
drive for improved returns
As part of
its strategic thrust for brand building and extension, Transcorp Plc, has
resolved to continue to improve operational and cost effectiveness as well as
explore opportunities to expand product offering.
Published by the Guardian Newspaper
on Tuesday, 10th May, 2016
#Awards: GTBank, others nominated for
African Bankers awards
Guaranty
Trust Bank Plc and three other investment firms have been nominated for this
year’s edition of the African Banker awards. Specifically, GTBank Plc was
nominated under four categories including Bank of the year, Banker of the year,
best retail bank and innovation, while Vetiva and FBN Capital were nominated
for the award under the deal of the year (equity) and deal of the year (debt)
respectively.
Published by the Guardian Newspaper
on Tuesday, 10th May, 2016
#Partnership: ISP partners Bitflux on
expansion of 4G LTE service in Nigeria
Leading
Internet Provider, e-Stream Networks has partnered with wholesale wireless
broadband service provider, Bitflux Communications, to be its 4G LTE (Long Term
Evolution) carrier across Nigeria. The partnership is aimed at providing high
speed internet service to the vast Nigerian data subscribers.
Published by the Guardian Newspaper
on Tuesday, 10th May, 2016
#Economy: Govt to partner state for
economic growth
The Federal
Government will partner the state government with workable strategy for
economic development, President Muhammadu Buhari has said. He said the Federal
Government will work with governors to come out with right policies and
programmes that will secure the future generation of Nigerians, who, according
to him, are entitled to prosperous heritage.
Published by the Nation Newspaper on
Wednesday, 11th May, 2016
#Education: Six science varsities
underway
The Federal
Government is working towards establishing six new universities of Science and
Technology to expand access to tertiary education, minister of Education,
Mallam Adamu Adamu has said. Adamu spoke at a News agency of Nigeria (NAN)
forum yesterday in Abuja. He said the future of the world depended on science
and technology.
Published by the Nation Newspaper on
Wednesday, 11th May, 2016
#Technology: ‘Digital transformation
future of Nigeria, others’
Managing
Director, Africa at Avaya, Hatem Hariri, has said digital transformation is key
to Nigeria’s and other African countries’ future. He said the government and
enterprises around the globe are looking at digitisation strategies to drive
operational excellence, Greater competitive differentiation, customer and citizen
satisfaction, and providing them with a more connected experience.
Published by the Nation Newspaper on
Wednesday, 11th May, 2016
#Investment: Investec to run Africa
infrastructure fund
Investec
Asset Management has been appointed to manage the Emerging Africa
Infrastructure Fund (EAIF). EAIF is an initiative of the donor-finaced Private
Infrastructure Development Group. It was developed to mobilise capital into
private sector infrastructure projects across sub-Saharan Africa. Established
in 2002, the fund has committed over $1.2 billion to 63 projects in 19
countries.
Published by the Nation Newspaper on
Wednesday, 11th May, 2016
#Philanthropy: Rotary donates
borehole to Lagos community
It was
prayer answered for residents of four communities- Olusanya, Papa Uku, Agbajowo
and Ifesowapo Community development Association (CDA), in Fanimokun area of
Agege Local Government Area when they took delivery of a borehole donated by
the Rotary Club of Agege.
Published by the Nation Newspaper on
Wednesday, 11th May, 2016
#CSR: Firm adopts 18 public schools
No fewer
than 26,000 children has benefitted from FrieslandCampina WAMCO Nigeria Plc’s
School Adoption Programme. The dairy firm, makers of Peak, Three Crown and
Frisco brands of milk has endowed 18 public schools under the programme. It
said the gesture was in response to the need to promote quality education and
to enhance nutritional wellbeing of the students.
Published by the Nation Newspaper on
Wednesday, 11th May, 2016
#Power: Power supply is now 2,149MW
The
Transmission Company of Nigeria (TCN) yesterday sent out 2,149 megawatts to the
11 Electricity Distribution Companies otherwise known as DisCos. Although the
Nigerian Electricity System Operator that published the generation and
distribution data on its website has now passworded it, the Nation yesterday,
learnt from a reliable source that 249.20MW was allocated to the Abuja
Electricity Distribution Company (AEDC).
Published by the Nation Newspaper on
Wednesday, 11th May, 2016
#MSMEs: CBN to fund SMEs with N220b
The Central
Bank of Nigeria (CBN) has set aside N220 billion to assist owners of Small and
Medium Enterprises (SMEs) to breathe life into the economy at the grassroots.
Published by the Nation Newspaper on
Wednesday, 11th May, 2016
#Economy: Africa accounts for 1.4% of
global insurance premium
The
President, African Insurance Organization (AIO), Mrs Lamia Ben Mahmoud has
lamented that Africa’s share of global insurance premium remains low at 1.4 per
cent. She added that penetration remains low with a premium/Gross Domestic Product
(GDP) ratio not exceeding 1 per cent in some countries. This is below the
average rate of 2.7 per cent recorded in 2014 for the entire continent, she
added.
Published by the Nation Newspaper on
Wednesday, 11th May, 2016
#Economy: FG caps fuel price at N145
per litre
The Federal
Governement has increased the price of petrol from N86.50 to a maximum of N145
per litre. The 80 per cent increase was announced to State House reporters
yesterday by the Minister of State for Petroleum, Ibe Kachikwu.
Published by the Daily Trust
Newspaper on Thursday, 12th May, 2016
#Health: FG appeals to resident
doctors to shelve strike
The Minister
of Labour and Employment, Sen. Chris Nwabueze Ngige, has appealed to the
National Association of Resident Doctors (NARD) that began a 5-day warning
strike yesterday to resume duty in the interest of the nation. A statement
yesterday by the Deputy Director (Press) in the ministry, Samuel Olowookere,
said the minister advised them to utilize the mechanism of the ongoing social
dialogue with government on the issues of concern to its members.
Published by the Daily Trust
Newspaper on Thursday, 12th May, 2016
#Economy: Experts, marketers says
deregulation will end scarcity
Marketers
and experts yesterday welcome the deregulation of the price of petrol saying it
would end recurring scarcity of the product. Former Chief Economic Adviser to
president Obasanjo, Professor Ode Ojowu reactintg, said the removal of the
subsidy was the only way out to solve the lingering fuel shortages in the
country.
Published by the Daily Trust
Newspaper on Thursday, 12th May, 2016
#Economy: NLC vows to resist increase
The Nigeria
Labour Congress (NLC) has vowed to resist the “unilateral increase” of fuel
price announced by the Federal Government yesterday. The NLC, in a statement
signed by its General Secretary, Dr peter Ozo-Eson said the new price of N145
per litre “represents the height of insensitivity and impunity and shall be
resisted by the Nigeria Labour Congress and its civil society allies.
Published by the Daily Trust
Newspaper on Thursday, 12th May, 2016
#Event: Summit ends with huge
investments promises
The Katsina
State 2016 economic and investment Summit ended yesterday with promises made by
several prospective investors to establish businesses across the state.
Published by the Daily Trust
Newspaper on Thursday, 12th May, 2016
#Economy: Katsina industrialists
borrow N11.4bn from BoI
Industrialists
in Katsina State have borrowed the sum of N11.45 billion from the Bank of
Industry (BoI) for business purposes. This was disclosed by the BoI’s acting
managing director, Mr Waheed Olagunju, Wednesday, when the Governor of Katsina
State, Aminu Masari, commissioned the bank’s office in Katsina. The bank and
the state also signed a matching fund deal of N8 billion at the side-line of
the state’s economic and investment summit opened by president Buhari.
Published by the Daily Trust
Newspaper on Thursday, 12th May, 2016
#Agriculture: Tomato disease spread
to Kano
A tomato
disease known as tuta absolute is ravaging tomato farms in Kano State, giving
farmers sleepless nights. A similar attack was, a few weeks ago, recorded in
Katsina State and some parts of Kaduna State, forcing the price of tomato up.
Published by the Daily Trust
Newspaper on Thursday, 12th May, 2016
#Girls with ICT skills more
employable –DG, NITDA
Girls that
acquire Information and Communications Technology (ICT) skills are more
employable than their counterpaqrts in other fields of study. The
Director-General of the Nigeria Information Technology Development Agency
(NITDA), Dr Vincent Olatunji, made this assertion during the 2016 International
Girls in ICT Day Celebration, which held at the IBI Training Centre, Wuse 2,
Abuja.
Published by the Daily Trust
Newspaper on Thursday, 12th May, 2016
#Education: 10 indigenous students
gets AUN scholarship
Members of the Rotarct Club of the American University of
Nigeria (AUN) have awarded scholarship to 10 students of Bako community in
Adamawa State.
According to a report from the school, the scholarship covers
the students’ tuition in junior secondary school. They were also given
textbooks and other learning materials.
Published by the Daily Trust
Newspaper on Thursday, 12th May, 2016
#Education: FG wants more patronage
for eBooks
The Federal
Government has enjoined Nigerians, especially students, to patronize electronic
books. The Minister of Education, Mallam Adamu Adamu, gave the advice during
the 7th book fair, organized by the Nigerian Book Fair Trust (NBFT), northern
zone in Kano.
Published by the Daily Trust
Newspaper on Thursday, 12th May, 2016
#Innovation: Students make poultry
feed machine
Students of
the mechanical engineering department of the Federal Polytechnic Bida have
designed and constructed a poultry feed milli9mg machine in collaboration with
their supervisor, Engineer Mohammed Enyiola Usman.
Published by the Daily Trust
Newspaper on Thursday, 12th May, 2016
#Health: Traditional attendants will
reduce maternal mortality rate- Ambode
Governor
Akinwumi Ambode of Lagos State on Thursday said that Traditional Birth
Attendants have roles to play in the state government’s effort to reduce the
maternal mortality rate. Ambode spoke at a ceremony in Alausa, Ikeja, where
certificates of participation in orientation courses were presented to 400 TBA’s.
Published by the Punch Newspaper on Friday,
13th May 2016
#Investment: Lagos to harmonise laws,
fees to boost tourism
Conflicting
tourism laws, permits and licensing fees will soon be harmonised to encourage
investment in tourism sector, says the Lagos State Government. The Commissioner
for Tourism, Arts and Culture, Folorunsho Folarin-Coker, who stated this on
Thursday at a press conference in Ikeja, explained that the Hotel Licensing Law
Cap H6, Law of Lagos State of Nigeria, 2003; Hotel Licensing (Amendment) Law of
2010 and some local government permits and licences applicable to hotel and
hospitality-related businesses conflicted and needed adjustment.
Published by the Punch Newspaper on Friday,
13th May 2016
#Economy: Subsidy removal- Naira tumbles
to 341/dollar
The naira fell to 341 against the United States dollar at the
parallel market on Thursday from 321 following Wednesday’s removal; of subsidy
from petrol and the announcement of N145 per litre as the maximum pump price. The
local currency was trading N199.40 to the greenback on the official interbank
market, around the 197 official peg rates.
Published by the Punch Newspaper on Friday,
13th May 2016
#Economy: Stock market gains N81bn,
37 firms appreciate
A total of
37 firms made the gainers’ list at the close of trading on the floor of the
Nigerian Stock exchange on Thursday. This pushed up the NSE market
capitalisation by N81bn. The NSE realised a turnover of N1.491bn from 3,457
deals trading on 261.943 shares.
Published by the Punch Newspaper on Friday,
13th May 2016
#Stakeholders’Action: Unilever
shareholders approve N189.2m dividend pay-out
Unilever Nigeria
Plc. has declared a dividend of N189.2million following its approval by the company’s
shareholders at the 91st Annual General Meeting held in Lagos on Thursday. The dividend
pay-out translates to a dividend pay-out of 5 kobo per ordinary share to the
shareholders.
Published by the Punch Newspaper on Friday,
13th May 2016
#Economy: N350bn release for capital
project begins on Friday
The Federal
Government said on Thursday that it would commence the release of the sum of
N350 billion set aside for capital projects as contained in the 2016 budget
today.
Published by the Punch Newspaper on Friday,
13th May 2016
#Economy: C’River to acquire tank
farm for N615m
The Cross
River State Government has concluded arrangements with a commercial bank to
acquire Mainland Oil and Gas Tank Farm in Calabar to make access to petroleum
products easier. The acquisition, which will come in form of a lease that will
be funded by the bank, is expected to gulp N615 million.
Published by the Punch Newspaper on Friday,
13th May 2016
#Investment: Africa offers best returns
on investment, says Dangote, others
Business leaders
at the ongoing World Economic Forum on Africa in Kigali, Rwanda have called for
conscious efforts to be made to counter the gloomy pictures painted about doing
business on the continent in order to attract investors. Led by the continent’s
richest man, Aliko Dangote, members at McKinsey private breakfast discussion
panel agreed that Africa’s long term growth potential should be a subject of
emphasis to gradually change the wrong perception.
Published by the Punch Newspaper on Friday,
13th May 2016
#Agric: Heritage Bank, Oyo signs deal
to boost agribusiness
Heritage bank and the Oyo State government have signed a multi-billion
naira partnership to revive agriculture and boost agro-allied businesses in the
state. The lender said in a statement on Monday that the move was in line with
the Federal Government’s drive to diversify the economy.
Published by the Punch Newspaper on Friday,
13th May 2016
#Empowerment: CIBN approves FCMB’s
capacity building programme
First City
Monument Bank Limited says the capacity building and training programme being
offered by the FCMB training Academy have received due recognition. The lender
said the academy had been granted full accreditation status by the Chartered
Institute of Bankers of Nigeria.
Published by the Punch Newspaper on Friday,
13th May 2016
#MSMEs: Skye Bank advises SMEs on
long term growth
Skye Bank has advised the Small and Medium Enterprises in the
country to put in place strong internal control and effective book keeping
measures as critical success factor for business sustainability.
Published by the Punch Newspaper on Friday,
13th May 2016
#Agric: FG, World Bank to reduce
post-harvest wastage
The Federal
Government and the World Bank are collaborating with an indigenous agro-allied
food processing equipment fabricator to boost preservation of agricultural
produce and thus, reduce post-harvest wastage in the country.
Published by the Punch Newspaper on Friday,
13th May 2016
#Education: US experts meet to boost
education in Lagos
Education
stakeholders in the United States of America will converge in California,
United States on today to help formulate strategies to enhance education in
Nigeria, using Lagos as a pilot state.
Published by the Punch Newspaper on Friday,
13th May 2016
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