#Economy:
Fuel scarcity may worsen Dollar shortage
Despite the liberalisation of fuel imports, it emerged
yesterday that at least 75 ships with two and a half million tonnes of fuel
were waiting for importers in Nigeria to find dollars they need to pay for the
cargoes, according to ship tracking data and fuel traders.
Published
by the THISDAY Newspaper on Monday, 16th May, 2016
#Oil:
Insurgency cuts oil output by to 1.65mbpd
Confirming this yesterday, the Minister of State for
Petroleum, Dr Ibe Kachikwu, tweeted that the renewed insurgency and pipeline
breaks in the Niger Delta had resulted in Nigeria’s daily crude oil production
dropping to 1.65 million barrels per day as against 2.2 million bpd that was
projected in the 2016 budget.
Published
by the THISDAY Newspaper on Monday, 16th May, 2016
#Investment:
Fixed income securities market attract N32tn in four months
The fixed securities and currencies market has attracted
investments worth N31.93 trillion between January and April 2016, statistics obtained
by THISDAY have revealed. The money was invested in the securities via the FMDQ
OTC Securities Exchange Commission (SEC) in 2013 as an over-the-counter (OTC)
securities exchange and self-regulatory organization to run the fixed income
trading platform.
Published
by the THISDAY Newspaper on Monday, 16th May, 2016
#Philanthropy:
Rockefeller Foundation, others to provide $1m grants to enhance cassava
production
The Rockefeller Foundation, Dalberg and the International
Institute of Tropical Agriculture (IITA) have launched an innovation challenge
to uncover innovative solutions to increase cassava shelf life in Nigeria.
Published
by the THISDAY Newspaper on Monday, 16th May, 2016
#Technology:
SES to migrate over 25m households to Digital Platform
SES, a global player in satellite operations has signed a
multi-year agreement with Cable Channels Nigeria Ltd. (CCNL) to provide
strategic, reliable and stable video platform, via SES’s prime orbital position
28.2 degrees East, for the provision of Digital Terrestrial Television (DTT)
and Direct To Home (DTH) broadcast platform in Nigeria.
Published
by the THISDAY Newspaper on Monday, 16th May, 2016
#Award:
Akinosho wins the distinguished Contribution to industry Award
Toyin Akinosho, Publisher of Africa Oil+Gas Report, received
the top award of the latest edition of the “Big Five Awards” conferred on
distinguished oil industry players at the annual Africa Oil Week in Cape Town.
Published
by the THISDAY Newspaper on Monday, 16th May, 2016
#IndustryPulse:
Red Star express appoints new EDs, MDs for subsidiaries
One of Nigeria’s logistics companies, Red Star Express Group
has appointed new Executive Directors for the Group and Divisional Managing
Directors for its subsidiaries. The subsidiaries are Red Star Logistics, Red
Star Support Services, Red Star Freight and the Express arm.
Published
by the THISDAY Newspaper on Monday, 16th May, 2016
#Economy#ICT:
Nigeria to expose opportunities in non-oil sector at Gitex 2016
The Nigerian Pavilion at Gitex 2016 will be exposing
opportunities in non-oil sectors and how the Nigerian Government is committed
to supporting foreign and local entrepreneurship, particularly in the
Information and Communications Technology (ICT) sector, according to the
National Information Technology Development Agency (NITDA), the government
agency responsible for the implementation of ICT policy in Nigeria.
Published
by the THISDAY Newspaper on Monday, 16th May, 2016
#Investment:
Firms to invest in mobile Advertising start-up, slide airtime
Singularity Investment has announced its plans to invest an
undisclosed sum into Slide Airtime, a mobile advertising technology start-up
that give consumers free airtime in return for engaging with news and branded
content delivered to the lock screen of their mobile devices.
Published
by the THISDAY Newspaper on Monday, 16th May, 2016
#CSR#Awards:
Ecobank announces prizes for 2016 essay competition
Ecobank Nigeria Limited has opened its annual national essay
competition for children as part of activities to commemorate the May month
dedicated to children around the world. The Ecobank National Essay competition
for children with the EcobankMyFirst Account calls for entries from students
between the ages of 8-12 in category one and ages 9-14 in category two. Topic
for the essay is “The need to imbibe the culture of savings at an early age”.
Prizes to be won include Laptops, Educational Tabs and several consolation
prizes.
Published
by the THISDAY Newspaper on Monday, 16th May, 2016
#MSMEs#CSR:
Diamond Bank rewards five entrepreneurs with N15m
Diamond Bank Plc has rewarded five budding entrepreneurs with
N3 million each at its just concluded Building Entrepreneurs Today (BET) Season
five. The winners are: Uchechi Arinze, Folarinyo Abiodun, Ayodeji Agboola,
Emmanuel Okiedesan and Hauwa Bello.
Published
by the THISDAY Newspaper on Monday, 16th May, 2016
#MSMEs:
Konga.com rallies support for MSME to promote local products
A leading online mall, Konga.com, has proven its commitment
to deepening commerce and trade in Africa by supporting Micro, Small and Medium
Enterprises. To this end, the company recently partnered with Lagos State
Government to host MSME exclusive fair in Lagos. According to the two partners,
the fair focused on indigenous and local manufacturers and producers with the
aim of promoting “made in Nigeria” Products.
Published
by the THISDAY Newspaper on Monday, 16th May, 2016
#Agric:
Erisco targets one million metric tonnes of tomato processing
The Chief Executive Officer, Erisco Foods Limited, Mr Eric
Umeofia has said that his firm is targeting to achieve one million metric
tonnes of tomato processing by the fourth quarter of 2016. Umeofia made this
known at the Katsina State Economic Summit recently. He also commended
President Muhammadu Buhari’s commitment and support towards backward
integration and economic stability.
Published
by the THISDAY Newspaper on Monday, 16th May, 2016
#Partnership#CSR:
Access Bank partners UNICEF
Access Bank has announced that the 10th edition of its annual
charity shield competition for vulnerable school children in Kaduna State would
hold from end of May to 5th of June this year as it continues to partner with
the United Nations Children’s Emergency Fund.
Published
by the THISDAY Newspaper on Monday, 16th May, 2016
#IndustryPulse:
NCAA to begin implementation of new regulations in July
The Nigerian Civil Aviation Authority has announced that the
new Nigerian Civil Aviation Regulations (Nig.CARs) promulgated in December 2015
will take effect from July 1, 2016. The new r5egulation was supposed to update
new development and policies done in the industry since the first regulation as
amended was introduced.
Published
by the THISDAY Newspaper on Monday, 16th May, 2016
#Infrastructure:
Ambode opens roads, schools, jetty, market
Lagos State Governor, Akinwunmi Ambode yesterday, urged
community leaders and others to guard public infrastructure. Ambode,
represented by some of his commissioners, who spoke simultaneously at five
local government areas during the commissioning of projects of his first year
in office, urged the people to take charge of the facilities in their domains.
#Economy:
600,000 jobs coming with liberalised oil sector, says govt
Information Minister, Lai Mohammed gave more insights into
how fuel price was raised from N86.50 to N145 per litre. He said the President
Muhammadu Buhari has not let down Nigerians with the new price, adding that it
had no choice than to deregulate the petroleum sector. The facts, according to
Mohammed, are that in 2015, the Federal government paid N1trillion as subsidy,
which amounted to one-sixth of the year’s budget; it cannot afford such a huge
amount of subsidy again; the liberalisation policy will lead to the creation of
600,000 jobs; and labour leaders were not deceived or tricked on the new pump
price.
#Economy:
Inflation rises to 13.7%
Inflation rose for the sixth consecutive months in April and
at the highest pace since August 2010, after an increase in fuel and
electricity prices. According to a statement by the National Bureau of
Statistics, the figure was higher than the 12.8 per cent the month before.
Published
by the Nation Newspaper on Tuesday, 17th May, 2016
#Infrastructure:
Lagos approves 54 firms to manage streetlight
No fewer than 54 private firms will be engaged by the Lagos
State Government to manage streetlights in the state, says the Commissioner for
Energy and Mineral Resources, Mr Olawale Oluwo. Oluwo, who spoke on Tuesday
during a briefing on the activities of the Ministry of Energy and Mineral Resources
in the state, added that the government had lit up about 600 kilometres of
roads in 366 locations in Lagos.
Published
by the Punch Newspaper on Wednesday, 18th May, 2016
#Power:
Forex scarcity, N300bn revenue shortfall hit power firms
As many parts of the nation continue to experience blackout,
electricity distribution companies have said their inability to obtain foreign
exchange to import equipment and a revenue shortfall of N300bn are some of the
factors hampering their operations. The firms said the low electricity
generation occasioned by gas supply shortages as a result of pipeline vandalism
meant that power distribution by them would be low.
Published
by the Punch Newspaper on Wednesday, 18th May, 2016
#Power:
Power generation crashes to 1,400MW- TCN
The quantum of electricity generated in the country fell by
over 1,000 megawatts within a space of eight hours on Tuesday. The transmission
Company of Nigeria stated that the generated electricity dropped by 1,018.5 MW
between 6 a.m. and 3 p.m.
Published
by the Punch Newspaper on Wednesday, 18th May, 2016
#MSMEs:
SMEs need alternative energy to boost employment-Contec
Small and Medium Enterprises need alternative power supply to
boost employment and economic growth as Nigeria moves towards addressing its
power deficit, the Chief Executive Officer of London-based Contec Power Systems
Limited, Mr Srinivas Ppilla, has said.
Published
by the Punch Newspaper on Wednesday, 18th May, 2016
#MSMEs:
NNEW plans industrial hub for women
The NECA’s Network of Entrepreneurial Women, as part of its
assets acquisition plan, will establish an industrial hub for women-owned
businesses. Speaking at the town hall meeting of the network in Lagos, the
President, NNEW, Mrs Modupe Oyekunle, said that women would benefit from easy
access to raw materials, access to other businesses along the value chain and
infrastructure.
Published
by the Punch Newspaper on Wednesday, 18th May, 2016
#Health: EU
trains health workers on financial prudence
The European Union Support to Immunisation Governance in
Nigeria has commenced the training of primary health care practitioners on
financial prudence. The three-day conference, which started in Calabar, Cross
River State, on Tuesday, has participants drawn from Edo, Cross River, Akwa
Ibom, Anambra, Ebonyi, Abia and Rivers State. The training contractor of EU,
Mrs Aminata Sidibe, said the workshop was to train the participants on
effective fund management.
Published
by the Punch Newspaper on Wednesday, 18th May, 2016
#Infrastructure:
FG okays proposal to construct Obajana-Kaba Road
The Federal Executive Council (FEC) yesterday approved a
proposal by a subsidiary of the Dangote Group to construct the Obajana-Kaba
road. Minister of Power, Works and Housing, Babatunde Fashola, told State House
reporters that the approval was based on a memo by his ministry seeking to take
benefits of tax-policies and laws “for the purpose of using them to drive
infrastructure development renewal”.
Published
by the Daily Trust Newspaper on Thursday, 19th May, 2016
#Infrastructure:
We’ve evolved new initiatives to secure waterways- Peterside
The Director-General, Nigerian Maritime Administration and
Safety Agency (NIMASA), Dr. Dakuku Peterside, has said the agency evolved new
security initiatives to effectively police Nigeria’s waters against pirates. Dr
Peterside disclosed this yesterday when he led the management staff of NIMASA
on a courtesy visit to the management of Media Trust Limited in Abuja.
Published
by the Daily Trust Newspaper on Thursday, 19th May, 2016
#Oil#StakeholdersAction:
Oil producing host communities give FG 21-day ultimatum
The national executive of the Host Communities of Nigeria
Producing Oil and Gas (HOSTCON) has given the federal government a 21-day
ultimatum to implement a seven-point agenda and give them what is due to them.
A press statement from the Executive National Chairman of HOSTCON, Dr Mike
Emuh, said the body recently met and resolved among other things, on the
constitution of a National Peace Reconciliation Committee to stem the upsurge,
violence, crisis and security in the Niger Delta.
Published
by the Daily Trust Newspaper on Thursday, 19th May, 2016
#Oil:
Attackers blow up ENI gas pipeline
Unknown attackers late Tuesday blew up a gas pipeline
belonging to Italian Oil Company ENI in Ogbembiri, Balyesa State, the company
told Reuters yesterday. It was the latest in a string of attacks on oil and gas
facilities in the region.
Published
by the Daily Trust Newspaper on Thursday, 19th May, 2016
#Health:
Nigeria needs strong will to end TB- UN
The United Nation’s Secretary-General’s Special Envoy on
Tuberculosis (TB), Dr Eric Goosby, has said strong political will is needed by
the government and other stakeholders to enable Nigeria address its high burden
of tuberculosis. He stated this yesterday in Abuja during the National
Tuberculosis conference organized by the Stop TB Partnership Nigeria (STBPN)
and the National Tuberculosis and Leprosy Control Programme (NTLCP) in
collaboration with Health Watch.
Published
by the Daily Trust Newspaper on Thursday, 19th May, 2016
#Infrastructure:
Telecoms infrastructure- Govs not honouring MoU on RoW, NCC says
The Nigerian Governors’ Forum (NGF) has jettisoned the
Memorandum of Understanding (MoU) it signed with Ministry of Communications on
Right of Way (RoW) and multiple taxations, the Nigerian Communication
Commission (NCC) has said.
Published
by the Daily Trust Newspaper on Thursday, 19th May, 2016
#ICT: FG
encourages ICT entrepreneurship
The Federal Government has said it will reengineer the
economy by promoting and encouraging ICT entrepreneurship to stimulate the
nation’s economy. Minister of Communications, Adebayo Shittu, who disclosed
this in Abuja on Tuesday at a press briefing to commemorate this year’s World
Telecommunication and Information Society Day, also said FG would ginger up the
economy through the provision of ICT based services, and would make deliberate
efforts to adopt the use of ICT in every aspect of our endeavours in order to
improve efficiency, effectiveness and productivity in service delivery and
business transactions generally.
Published
by the Daily Trust Newspaper on Thursday, 19th May, 2016
#Empowerment:
Kaduna’s start-up training programme graduates 279
The Kaduna’s Start-up Entrepreneurship Programme (KADSTEP)
one of Governor Nasir el-Rufai’s pro-poor programmes has graduated its first
set of 279 trainees. Speaking at the graduation ceremony of the first intake
and induction of the second batch of trainees, el-Rufai said his administration
is targeting 5,000 entrepreneurs to benefit from the training.
Published
by the Daily Trust Newspaper on Thursday, 19th May, 2016
#MSME: BoI
disburses N48.44m loan in Kaduna
The Bank of Industry (BoI) has disbursed N48.44 million loan
to beneficiaries of the Kaduna Start-up Entrepreneurship Programme whose
business proposals are bankable. The programme was designed by the Kaduna
Business School (KBS) and the BoI to empower aspiring entrepreneurs to be able
to access various intervention funds.
Published
by the Daily Trust Newspaper on Thursday, 19th May, 2016
#Education:
Arewa forum in US to support girl child education
Arewa People’s Forum in the United States of America has said
it will offer support in education and empowerment of Northern Nigerian youths,
especially the girl-child. A joint signed statement by Umar Muhammad and
Martins Ocholi, Interim Chairman and Secretary respectively, said that the 2015
Gender Report compiled by the UNESCO shows that fewer than half of countries in
the world have achieved the goal of gender parity in both primary and secondary
education and that most remarkable and disturbing is the fact that no country
in sub-Saharan Africa was mentioned in the report.
Published
by the Daily Trust Newspaper on Thursday, 19th May, 2016
#Economy:
Govt earns N3.4tr as states seek access to World Bank’s $3.2b
Five months after the 2015 fiscal calendar, a report from the
Central Bank of Nigeria (CBN) has put the Federal Government’s retained revenue
in the period at N3.43 trillion.
Published
in the Guardian Newspaper on Friday, 20th May, 2016
#Power:
System collapse cuts power generation to 65 mega watts
The national grid yesterday experienced another system
collapse that has forced power generation to slump to 65.8 mega watts (mw) from
1432mw recorded on Wednesday. The system collapse, which marked the third
within one week and fifth in 26 days, could worsen the blackout currently
experienced across the country.
Published
in the Guardian Newspaper on Friday, 20th May, 2016
#Unemployment:
20 Nigerians unemployed, says Ngige
From the Minister of Labour and Productivity, Chris Ngige,
yesterday came the stark revelation that some 20 million unemployed persons
exist in the country. Also yesterday, the Minister of Information and Culture,
Lai Mohammed, disclosed that in the last four days, no fewer than 37 companies
have indicated interest to invest in the nation’s refineries and the downstream
sector of the petroleum industry.
Published
in the Guardian Newspaper on Friday, 20th May, 2016
#Economy:
Reps task panel on activities of export promotion council
Determined to ensure that the country does not depend solely
on oil production for its income, the House of Representative yesterday
mandated its committee on commerce to assess the level of export promotion in
Nigeria and the activities if the Nigerian Export Promotion Council in recent
years.
Published
in the Guardian Newspaper on Friday, 20th May, 2016
#Event:
Nigeria hosts W’Africa infectious disease institute
Nigeria has been chosen for the location of proposed West
African Infectious Disease Institute (WAIDI). The choice was necessitated by
its effective handling of the deadly Ebola disease and others as polio.
Published
in the Guardian Newspaper on Friday, 20th May, 2016
#Economy:
Doctors give condition to support fuel price increase
Medical doctors under the aegis of the Nigerian Medical
Association (NMA) have given conditions, which they said must be met by the
Federal Government before supporting the deregulation of the oil sector with
the resultant increase in pump price of petrol.
Published
in the Guardian Newspaper on Friday, 20th May, 2016
#SMEs#Agric:
Ignored smallholder farmers account for 80% of Africa’s agric production
Worried by the inconsistency in the continent’s agricultural
practice, especially in relations to investment in large scale commercial
farms, former Secretary-General of the United Nations, Kofi Anan and other
stakeholders have decried neglect of smallholder farmers, stating that more
than eighty per cent of Africa’s agricultural production come from them.
Published
in the Guardian Newspaper on Friday, 20th May, 2016
#Investment:
Commissioner lists investment options for government
For a diversification anchored on a sustainable basis, the
Commissioner for Finance Lagos State, Dr Mustapha Abiodun Akinkunmi, has called
on the Federal Government to pursue investment in new mobile technologies,
healthcare and education.
Published
in the Guardian Newspaper on Friday, 20th May, 2016
#Technology:
NATCOM seeks compensation policy for telecoms consumers
The National Association of Telecommunications Subscribers
(NATCOMS) has appealed to the Nigerian Communications Commission (NCC) to put
in place a Subscriber’s Compensation Policy that will compensate Subscribers
with free airtime.
Published
in the Guardian Newspaper on Friday, 20th May, 2016
#Technology#Economy:
Experts decries impact of foreign software on Nigeria’s economy
Chris Uwaje, the
former president, Institute of Software Practitioners of Nigeria (ISPON) has
expressed displeasure at government and corporate bodies’ fondness for foreign
software. Uwaje who is currently the co-chair for Publicity and Communications
for Africa, Institute of Electrical and Electronics Engineer- World Forum on
Internet of Things (IEEE)-WFIoT, said although ISPON is not calling for
outright ban on foreign software, however it is high time the government save
the nation from forex elusion and capital flight by engaging local firms with
penchants for solutions to challenges peculiar to the country.
Published
in the Guardian Newspaper on Friday, 20th May, 2016
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