#Economy: CBN, FMDQ launch Naira-settled OTC FX futures market
The Central Bank of Nigeria (CBN)
has made history in the Nigerian FX market as it becomes the pioneer seller of
the Naira-settled OTC FX Futures contracts on FMDQ OTC Securitises Exchange (FMDQ)
today, Monday, June 27, 2016.
Published by the Business Day Newspaper on Monday, 27th June, 2016
#IndustryPulse: Analysts say MTN’s decision on Nigerian CFO might help
recover losses
MTN Nigeria has announced the
appointment of its first ever Nigerian Chief Financial Officer (CFO) since it
commenced operations in the country 15 years ago. Experts say this might be a
smart move to help balance the company’s losses due to the huge fine issued by
the Nigerian Communication last year.
Published by the Business Day Newspaper on Monday, 27th June, 2016
#Economy: FG’s interest in Dangote refineries to attract FDI to
downstream oil sector
Hard hit by sliding foreign
exchange earnings, policymakers in Africa’s largest economy have signalled
their commitment to supress Nigeria’s importation bill and engender private
investments, following its unique interest in the success of the 650,000
barrels per day (bpd) Dangote Refineries.
Published by the Business Day Newspaper on Monday, 27th June, 2016
#Energy: N40bn renewable energy investments across Africa to add 1,300mw
by 2018
Renewable energy investments
projects in Africa will see a boost, as a consortium of global investors led by
Mainstream Renewable Power will power the sector with N40 billion worth of
investments to accelerate the build-out of 1,300 megawatts of wind and solar
plants across Africa.
Published by the Business Day Newspaper on Monday, 27th June, 2016
#Oil: Global refineries capacity expanded by 0.8m barrels daily in 2015 –
OPEC
World refinery capacity expanded by
0.8 million barrels per day (mb/cd) to stand at 96.6 mb/cd in 2015, the
Organization of Petroleum Exporting Countries (OPEC) has said. The organization
revealed through its Annual Statistical Bulletin 2016 that growth in refinery
capacity in the Middle East and Asia Pacific regions.
Published by the Business Day Newspaper on Monday, 27th June, 2016
#Economy: Nigeria looks to Russia for trade expansion amid oil crash
Nigeria is looking to Russia to
expand trade and industrial cooperation at a time oil crash is hitting both
countries hard. Russia is an oil producing country like Nigeria and has other
similarities with Africa’s biggest economy.
Published by the Business Day Newspaper on Monday, 27th June, 2016
#IndustryPulse: Sheraton Hotel records N4.69bn profit
Capital Hotels Plc, owners of Sheraton
Abuja Hotel, has declared a turnover of N4.69 billion for the fiscal year 2015.
This is against N4.55 billion earned in 2014, representing an increase of 3.08
percent.
Published by the Business Day Newspaper on Monday, 27th June, 2016
#TCN promises to up grid capacity
The Transmission Company of Nigeria
(TCN) has said it would continue to expand its grid capacity so
that it would continue to surpass generation curves. This organization stated
this after one day retreat where it activities were x-rayed with the aim of
identifying areas where it can improve and serve the nation better.
Published by the Business Day Newspaper on Monday, 27th June, 2016
#CSR: Etisalat restates commitment to environment protection
Etisalat Nigeria, a GSM provider,
has reiterated its commitment to environmental conservation in Nigeria by
continually doing its business responsibly and in conformity with international
best practices on environmental standards.
Published by the Business Day Newspaper on Monday, 27th June, 2016
#Empowerment: 100 young entrepreneurs in Ajegunle get capacity support
from CVL
One hundred entrepreneurs in
Ajegunle, a slum community in Lagos State, are receiving life-changing capacity
development training from the Centre for Values in Leadership (CVL).
Published by the Business Day Newspaper on Monday, 27th June, 2016
#Empowerment: Group partners Lagos on empowerment, trains 2,600 residents
A non-governmental organization,
Sahara Foundation, says it is organising vocational training for 2,600 Lagos
residents to support the state government’s effort on job creation. It said the
beneficiaries would enjoy a free skill acquisition programme at three centres
in Lagos, adding that the programme was meant to enhance economic growth and
development in Nigeria.
Published by the Punch Newspaper on Tuesday, 28th June, 2016
#IndustryPulse: N’Delta youths want oil firms to create jobs
A group of Niger Delta youths has
called on oil companies operating in the region to create employment for the
people of the area. The youths pointed out that the provision of employment for
the unemployed in the region would bring an end to violence and other forms of
agitation.
Published by the Punch Newspaper on Tuesday, 28th June, 2016
#Economy: Naira falls to 351/dollar at black market
The naira fell to 351 to the United
States dollar at the parallel market and slightly to 282 at the new interbank market
on Monday. Following the floating of the naira and the adoption of a single
structure through the interbank/autonomous window, the currency closed last week
at 281 to the greenback at the official market.
Published by the Punch Newspaper on Tuesday, 28th June, 2016
#Oil: Oil price slumps to $46 amid Brexit concerns
Global oil benchmark, Brent crude,
traded sharply lower on Monday, extending its declines following Britain’s vote
to exit the European Union on Thursday. The dip in the oil price comes as
investors were worried about global energy demand and shunned assets perceived
as risky in the aftermath of the Brexit decision.
Published by the Punch Newspaper on Tuesday, 28th June, 2016
#Infrastructure: FG releases N109bn for capital projects
Out of the N350bn set aside for
capital spending in the first and second quarters of this year, about N109bn
has been released by the Federal government to various contractors. The
Minister of Finance, Mrs Kemi Adeosun gave the figure on Monday during Channels Television’s Sunrise programme,
which was monitored by our correspondent in Abuja.
Published by the Punch Newspaper on Tuesday, 28th June, 2016
#Investment: Nigeria seeks $50bn oil investment from China, others
Nigeria is seeking $40bn to 450bn
investment in oil projects with the commencement of a major road show in China,
the Minister of State for Petroleum Resource, Dr Ibe Kachikwu said on Monday.
Published by the Punch Newspaper on Tuesday, 28th June, 2016
#Infrastructure: We’ll build homes for drivers, farmers, others – Fashola
The Minister of Power, Works and
Housing, Babatunde Fashola, on Monday said the Federal Government had the
target of building houses for drivers, market women, farmers, artisans and other
individuals in the same income cadre.
Published by the Punch Newspaper on Tuesday, 28th June, 2016
#Technology: IT, technical education, engine of economic growth – Ngige
The Minister of Labour and
Employment, Dr Chris Ngige, has said that Information Technology, technical
education and training are the engine of economic growth and development.
Published by the Punch Newspaper on Tuesday, 28th June, 2016
#Stakeholders’Action: Stakeholders chart growth path for IT entrepreneurs
Stakeholders in the nation’s
Information and Communications Technology industry have identified critical
factors needed to build a successful IT business in Nigeria. The stakeholders
explored what they considered winning strategies for growing young IOT
businesses into major players that would further contribute to the growth of
the ICT industry.
Published by the Punch Newspaper on Tuesday, 28th June, 2016
#Education: German envoy seeks increased funding in Nigeria
The German Consul-General in Lagos
Mr Ingo Herbert, has urged Nigeria to invest massively in education, saying it
is the elixir for development. Herbert, who commended the high quality of
education in German universities, also called for collaboration between
universities and companies especially in research and training.
Published by the Punch Newspaper on Tuesday, 28th June, 2016
#Economy: CBN intervenes in $51 million forex demand, Naira falls
The naira extended its marginal
loss lines from N281.49 per dollar on Monday to N282.5 yesterday representing a
N1.01 decline. The loss was moderate to that level as the Central Bank of
Nigeria (CBN) intervened at the interbank foreign exchange market with an
undisclosed dollar amount for the seventh straight trading period under the new
policy arrangement.
Published by the Guardian Newspaper on Wednesday, 29th June, 2016
#Energy: Gas supply to electricity plants drops to 541mmscfd
Gas supply to electricity plants in
Nigeria has dropped from the 686mmscfd it recorded in April to 541mmscfd in
May, according to the Nigerian National Petroleum Corporation (NNPC).
Published by the Guardian Newspaper on Wednesday, 29th June, 2016
#Entrepreneur: UBA chief seeks early development of entrepreneurial
culture
The development of entrepreneurial mind-set
among youths has been described as the panacea to the dearth of innovative and
bankable ideas. Besides it holds the ace in opening up other options for
gainful employment, rather than waiting endlessly for the scarce job
opportunities.
Published by the Guardian Newspaper on Wednesday, 29th June, 2016
#IndustryPulse: ARSO strategizes to harmonise standards for
industrialization, value-addition
Worried by the low level of
regional cooperation and integration among trade blocs in the continent, the
African Organization for Standardization (ARSO) has initiated new strategies to
harmonize standards among African countries to drive value addition and
industrialization.
Published by the Guardian Newspaper on Wednesday, 29th June, 2016
#Economy: NEPC charges business chambers on non-oil export devt
The Nigerian Export Promotion
Council (NEPC) has urged business chambers in the South-West region to advocate
the exploitation of natural resources that give the region comparative advantage
as part of measures to boost non-oil export in the country.
Published by the Guardian Newspaper on Wednesday, 29th June, 2016
#IndustryPulse: Local patronage to boost footwear production, leather
industry
If supported through proper
funding, local patronage and infrastructure, Nigeria’s leather industry has the
capacity to generate employment and reduce amount of foreign exchange spent on
imported footwear and accessories, the Chief Executive Officer of Minuel Faleti
Designs, Emmanuel Faleti has said.
Published by the Guardian Newspaper on Wednesday, 29th June, 2016
#Partnership: Plateau seeks partnership with NITDA on ICT devt
The Plateau State Government has
solicited the support of National Information Development Agency (NITDA) in
the deployment of Information and Communications Technology (ICT) in the
institutions of higher learning in the state.
Published by the Guardian Newspaper on Wednesday, 29th June, 2016
#Innovation: LG boosts healthy living with innovative technologies
Determined to create devices and
services to help simplify lives in the country, LG Electronics has come out
with health booster innovative products that can enhance living. Among these
devices are the LG watch Ur-bane equipped with smart monitor to check the heart
rate and a number of sporty features, apart from measuring total calories
burned, the smart watch catalogues daily activity to help users chart progress
over time.
Published by the Guardian Newspaper on Wednesday, 29th June, 2016
#Event: NCC, CECAD collaborate for digital innovation forum
The Nigerian Communications
Commission (NCC) has expressed its delight at partnering with the centre for
Cyber Awareness and Development (CECAD) towards ensuring the success of the
Nigeria Digital Innovation Conference 2016 scheduled to hold at Bayero
University Kano in July 2016.
Published by the Guardian Newspaper on Wednesday, 29th June, 2016
#Event: Lagos hosts TechPlus 2016
Tech experts, enthusiasts, innovators,
policy makers and a vast spectrum of tech- savvy brands and individuals will on
July 22 and 23 be hosted at the biggest tech gathering I n Nigeria, TechPlus
2016, billed to hold at the Eko Hotels and Suites, Lagos.
Published by the Guardian Newspaper on Wednesday, 29th June, 2016
#MSMEs: MainOne, Intel, Whogohost targets SMEs with cloud-hosted services
To further strengthen its bond in
deepening Cloud penetration in Nigeria, West leading Connectivity and data
Center solutions company, MainOne has entered into strategic partnership with
Nigeria’s premier hosting domain provider, Whogohost and Intel, the world’s
leading technology.
Published by the Guardian Newspaper on Wednesday, 29th June, 2016
#Innovation: Diamond Bank boosts FG’s campaign to unlock IT innovations
Diamond Bank has thrown its weight
behind Federal Government’s initiative to unlock unprecedented opportunities
for young entrepreneurs and information technology start-ups under the
Presidency’s pet project tagged “The Pitch” in ‘Aso Villa Demo Day’.
Published by the Guardian Newspaper on Wednesday, 29th June, 2016
#Energy: Nigeria to benefit from $7m award on clean energy projects
Nigeria and Madagascar have now
joined Sierra Leone as the countries that will benefit from the $7 million
prize awarded under the Access Co-Development Facility (ACF) funding scheme to
support clean energy projects.
Published by the Guardian Newspaper on Wednesday, 29th June, 2016
#Partnership: NEITI seeks media partnership to end corruption in oil
sector
Irked by the low impact of the
hydrocarbon resources on the populace, the Nigeria Extractive Industries Transparency
Initiative (NEITI) has renewed its appeal to the media to support its
commitment to end corruption, impunity and mismanagement of the country’s oil,
gas and mining revenues.
Published by the Guardian Newspaper on Wednesday, 29th June, 2016
#Energy: IEA wants $4.8tr investment to reduce energy pollution
International Energy Administration
has called on governments across the globe to adopt strategy to cut pollutants
by half, a plan that would add about seven per cent to the total energy
investment needed through 2040.
Published by the Guardian Newspaper on Wednesday, 29th June, 2016
#Power: AFC, KfW form power infrastructural development
Africa Finance Corporation (AFC)
has announced its acceptance of a $150 million 15-year loan facility from KfW
Development Bank. The loan agreement was signed last week in London by the
Chief Executive Officer of AFC, Andrew Alli, and Head of Division for Infrastructure
of KfW, Jan Matin Witte.
Published by the Guardian Newspaper on Wednesday, 29th June, 2016
#Oil: NAPIMS, NCDMB commend Nigerdock over delivery of Ofon 2 platforms
It was praises galore for the
management and workers of Nigerdock, an indigenous oil services company and
member of Jagal Group, following the company’s successful completion and load
out of the Ofon platforms fabricated entirely by the company for the NNPC/Total
joint venture.
Published by the Guardian Newspaper on Wednesday, 29th June, 2016
#Oil: Lekoil to complete Otakikpo field within $82m budget
Lekoil, the oil and gas exploration
and Development Company with a focus on Nigeria and West Africa, says it is on
track to complete and bring Otakikpo marginal field to production within the
original $82 million capital expenditure budget that was estimated in 2014.
Published by the Guardian Newspaper on Wednesday, 29th June, 2016
#Energy: Gas- There are investments worth over $55bn in Nigeria – NGA
There are currently over $55
billion worth of investment opportunities in the Nigerian gas sector, the
Nigerian Gas Association has said. President of the association, Mr Bolaji
Osunsanya, who disclosed this in Lagos, expressed optimism for the growth of the
gas sector.
Published by the Guardian Newspaper on Wednesday, 29th June, 2016
#Power: Nigeria-China Business Council urges ban on imported meters
The Nigeria-China Business Council
has called on the Federal Government to ban the importation of prepaid meters
to indigenous production of the device.; the National coordinator of the
council, Mr Matthew Uwakwe, made the call in Abuja as he spoke against the
complaints by indigenous smart meters manufacturers that their capacity has
been under-utilized due to very low patronage from the government and the
electricity boards.
Published by the Guardian Newspaper on Wednesday, 29th June, 2016
#Power#Partnership: Govt partners North South Power to develop dams for
electricity
The Federal Government has announced
a partnership with North South Power Company Limited to develop existing dams
for power generation. Minister of water Resources, Suleiman Adamu, stated this
when board members of the company led by their chairman paid him a courtesy
visit in Abuja.
Published by the Guardian Newspaper on Wednesday, 29th June, 2016
#Economy: CBN forex policy: Energy expert calls for transparency
The Central Bank of Nigeria, CBN,
has been commended for allowing the naira exchange rate to be driven by market
forces. Making the commendation in Lagos, Wumi Iledare, Director, Emerald
Energy Institute, also praised the CBN for placing a price ceiling or floor as
was the case of the petroleum market.
Published by the Guardian Newspaper on Wednesday, 29th June, 2016
#Health: Nigeria suffers highest infant mortality in Africa
The Nigeria Society of Neonatal
Medicine (NISONM) has sounded alarm that the rate of deaths of infants in the
country is rising, and that Nigeria has the highest incidence in the Africa and
second highest in the world.
Published by the Daily Trust Newspaper on Thursday, 30th June, 2016
#Investment: Equity investors gain N81bn after 3 days loss
Equity trading on the floor of the
Nigerian Stock Exchange (NSE) favoured investors yesterday as they recouped N81
billion at the close of the session that saw market indexes growing by 0.80 per
cent.
Published by the Daily Trust Newspaper on Thursday, 30th June, 2016
#Oil: Iran, Nigeria sell oil at ‘very cheap’ price – Envoy
The Islamic Republic of Iran and
Nigeria are selling their oil and gas to the international market at ‘a very
cheap’ price. This was disclosed by the Iranian ambassador to Nigeria, Morteza
Rahini, when he led a delegation visit the Abuja Chamber of Commerce and
Industry (ACCI) in Abuja yesterday.
Published by the Daily Trust Newspaper on Thursday, 30th June, 2016
#Infrastructure: NITDA to set-up e-libraries in Plateau
The National Information Technology
Development Agency (NITDA) will help Plateau State build human capacity and
equip all the secondary and tertiary institutions across the state with
e-libraries, the state Deputy Governor and NITDA Acting Director General have
jointly announced.
Published by the Daily Trust Newspaper on Thursday, 30th June, 2016
#Event: First women entrepreneurs’ conference holds in Abuja
The Nigeria Employers’ Consultative
Association’s (NECA) Network of Entrepreneurial Women (NNEW) will on 14th July,
unveil a maiden women entrepreneurs conference in Abuja with the theme, ‘Giant
Strides’.
Published by the Daily Trust Newspaper on Thursday, 30th June, 2016
#Economy: Brexit poses danger to Nigeria’s economy – Industrialists
The Abuja Chamber of Commerce and
Industry (ACCI) has said that Britain’s decision to leave the European Union
(EU) will have negative results on Nigeria’s economy.
Published by the Daily Trust Newspaper on Thursday, 30th June, 2016
#Agric: North-east farmers gets additional $50m Fadama III project
The World Bank through the Fadama
III Project- Additional Financing has provided 50 million US dollars to support
the Internally Displaced Persons (IDPs) to return to their farms in the
North-east.
Published by the Daily Trust Newspaper on Thursday, 30th June, 2016
#Environment: Global warming threatens food security, expert warns
Global warming may affect Nigeria’s
agricultural activities, economic structure, energy demands and climate
vegetation, an expert in atmospheric research, Professor Ibiyinka Fuwape, has
warned.
Published by the Daily Trust Newspaper on Thursday, 30th June, 2016
#Agric: Nigeria to launch soil test kit scheme
The Federal Government is launching
a new digital soil test scheme to boost food production, the African Farming
and Food Processing reports. The Federal Ministry of Agriculture and Rural
Development said it would introduce soil test kits to farmers nationwide as
part of efforts to boost food production.
Published by the Daily Trust Newspaper on Thursday, 30th June, 2016
#Education: Cyrus School maintains student-teacher ratio of 25 to 1
A new private secondary school,
Cyprus International School, Kuje, Abuja, says it will maintain low
student-teacher ratio of between 15-25 students per teacher to increase student’s
achievement.
Published by the Daily Trust Newspaper on Thursday, 30th June, 2016
#SDGs#Equality: Students to take gender studies in the universities
University students across the
country will study Gender and Transformation Leadership (GLT) as part of
General Studies Programs in Universities to address Gender issues. The Country
Representative of UNWomen, Adekemi Ndieli, said the integration of GLT into general
studies will address the issue of sexual harassment in institutions and the
imbalance that has existed over the years within national development context.
Published by the Daily Trust Newspaper on Thursday, 30th June, 2016
#Empowerment: Pacelli School for the Blind Wins Lagos Quiz Contest
Pacelli School for the Blind,
Surulere, Lagos, has emerged winner in the maiden edition of a two-day quiz
competition organised by the Lagos State Office for Disability Affairs (LASODA)
between pupils of regular and special schools in Lagos State.
Published by the This Day Newspaper on Friday, 1st July, 2016
#Stakeholders’Action: Buhari Appeals to Niger Delta Militants to Embrace
Peace
President Muhammadu Buhari
yesterday said he was still collecting intelligence on the Niger Delta. The President
also said that his administration would rebuild Nigeria, including the Niger Delta
region, and understanding from the citizenry.
Published by the This Day Newspaper on Friday, 1st July, 2016
#Empowerment: FG Expresses Desire to Empower Start-ups
The federal government has
expressed its determination to empower start-ups businesses in Nigeria in order
to promote economic diversification, financial inclusive and foster job
creation.
Published by the This Day Newspaper on Friday, 1st July, 2016
#Security: Niger Delta Ministry to Collaborate with NIS to Check Security
The Comptroller-General of
Immigration (CGI) Muhammad Babandede has expressed worry over the dearth of
patrol boats to effectively monitor the creeks and rivers in the Niger Delta
region.
Published by the This Day Newspaper on Friday, 1st July, 2016
#Technology: FG urged to create Special FX Window for Manufacturers
Despite the appreciable progress
recorded in the foreign exchange market since the Central Bank of Nigeria (CBN)
announced its new foreign exchange policy, manufacturers in the country have
decried their inability to get the green back to import raw material for
production.
Published by the This Day Newspaper on Friday, 1st July, 2016
#Investment: Nigerian Stock Market Gains 3.3% in First Month
The Nigerian stock market closed
the first half of the year with a growth of 3.3 per cent compared with a decline
of 3.2 per cent in the corresponding period of 2015. Although the market ended
on a bearish noted yesterday, in all, recorded a growth at the end of the first
six months of the year.
Published by the This Day Newspaper on Friday, 1st July, 2016
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