#Economy: FX
scarcity, legacy debt unsettle downstream petroleum sector
Foreign exchange scarcity and legacy debts are unsettling the
downstream sector with the possibility of fuel scarcity recurring in no distant
time, Business Day investigations show. Specifically, the legacy debts of oil
marketers are occasioned by the new exchange rate of between N282-284/$ from
the previous N199/$ which have been ballooned to about N266 billion.
Published by the
Business Day Newspaper on Monday, 4th July, 2016
#Economy: States’
chances of tapping capital market funds dim on low IGR
As Nigerian states battle tough financial conditions and
search ways of expanding their sources of funds, they also face even more
hurdles of tapping capital market resources due to current stringent
requirements, Business Day finds.
Published by the
Business Day Newspaper on Monday, 4th July, 2016
#Economy: CBN calms
nerves of banking sector stakeholders on Brexit
Central Bank of Nigeria (CBN) has calmed the nerves of
stakeholders in the banking industry who are worried over the impact of UK’s
surprised vote to leave the European Union (Brexit) on the sector.
Published by the
Business Day Newspaper on Monday, 4th July, 2016
#Business: CAC takes
steps to remove bottlenecks in companies’ registration
The latest innovation by the
Corporate Affairs Commission which would make it possible for prospective
companies to register in the Nigeria’s business space without passing through
lawyers and other professionals has been described as a step in the right
direction. This, according to experts will protect customers from exorbitant
cumulative registration fees charged. It will also reduce the cost of business
start-up in the country and thereby improve doing business.
Published by the
Business Day Newspaper on Monday, 4th July, 2016
#Partnership:
Deloitte partners LBS on how companies can navigate headwinds
As Nigeria’s economy inches towards an imminent recession,
macro-economic shocks have rocked the business landscape in Africa’s largest
economy causing disruptions in the way they operate. It is to this end that
Deloitte and the Lagos Business School (LBS) are partnering to converge
business executive annually at a round-table to share insights that can smooth
the paths of their business amid tough economic headwinds.
Published by the
Business Day Newspaper on Monday, 4th July, 2016
#Empowerment: Sahara
Power pledges more investment in capacity building
The management of Sahara Power has restated its commitment to
sustained human capital development investment in Nigeria’s power sector to
ensure enhanced productivity and seamless skill transfer. Kola Adesina,
Managing Director, Sahara Power, said positive outcomes from the firm’s
Graduating Engineering Programme has set the foundation for increased funding
to drive sundry capacity building initiatives in the organization.
Published by the
Business Day Newspaper on Monday, 4th July, 2016
#Development#Education:
NBC Limited expresses commitments to education
Nigerian Bottling Company Limited (NBC) says it will continue
to drive initiatives that would support delivery of delivery of qualitative
education amongst Nigerian children as bedrock for sustainable growth and
economic development.
Published by the
Business Day Newspaper on Monday, 4th July, 2016
#MSMEs: Alitheia
Identity partners Capria to finance SMEs in Nigeria, Africa
Alitheia Identity Managers have partnered Capria Ventures, a
global impact investment firm that works with local funds mangers to accelerate
the flow of capital in Nigeria and other emerging markets.
Published by the Business
Day Newspaper on Monday, 4th July, 2016
#Investment:
Nigerian stocks open H2 on weak note
Nigerian stocks opened the second half (H2) of 2016 on a weak
note as a number of largely capitalized stocks across key sectors remained
under pressure. Though week-on-week (wow), investors reduced equity exposures
as profit-taking persisted leading to stocks posting 4.39 per cent loss.
Published by the
Business Day Newspaper on Monday, 4th July, 2016
#StakeholdersAction:
Investors task Buhari on economic direction centred on non-oil opportunities
Apparently disturbed by the current economic crisis allegedly
fuelled by the dearth of clear-cut economic direction that President Muhammadu
Buhari-led administration seems to be missing, investors under the auspices of
Abeokuta Chambers of Commerce Industry, Mines and Agriculture (ABEOCCIMA), have
demanded economic policies focusing on non-oil opportunities.
Published by the
Business Day Newspaper on Monday, 4th July, 2016
#Energy: Operators
task FG to address PEF, infrastructure in oil, gas sector
Operators in the Nigerian downstream petroleum sector have
called on the Federal Government to urgently address the lapses in
infrastructure across all sectors of the economy, including the energy sector.
Published by the
Business Day Newspaper on Monday, 4th July, 2016
#Technology: CBN to
collaborate with NITDA on data protection
Nigeria Electronic Fraud Forum (NeFF) has recommended that
the Central Bank of Nigeria (CBN) and the National Information Technology
Agency (NITDA) work together in pursuing the enactment of a Data Protection Law
for Nigeria.
Published by the
Business Day Newspaper on Monday, 4th July, 2016
#Philanthropy:
Foundation offers new lease of life widows with N2m start-up capital
In a bid to tackle the plight and pains of widows and
children most of which are attributed to the ignoble and obnoxious traditional
practices, the Felix King Charity Foundation has given out N2m start-up capital
to selected widows in Nigeria.
Published by the
Business Day Newspaper on Monday, 4th July, 2016
#IndustryPulse:
Foreign airlines lose N67bn to new forex policy
The over 25 foreign airlines flying into Nigeria have lost a
combined sum of $240m (N67.2bn) following the adoption of new foreign exchange
policy by the new foreign exchange policy by the Central Bank of Nigeria,
investigations by our correspondent have revealed.
Published by the Punch
Newspaper on Friday, 8th July, 2016
#Oil: Oil price
falls to two-month low at $46
Global oil benchmark, Brent crude, fell by five percent to a
two-month low on Thursday after the United States Government reported a weekly
crude draw within analysts’ forecasts, disappointing market bulls who had
expected larger declines.
Published by the Punch
Newspaper on Friday, 8th July, 2016
#Investment: US frim
woos Nigerian entrepreneurs with green cards
An American firm, GO EB5 Investment for Green Card, is wooing
entrepreneurs from Nigeria who have money to invest and desire to secure a
future for their families in the United States with a promise of American green
cards.
Published by the Punch
Newspaper on Friday, 8th July, 2016
#Event: IBM,
TechPlus collaborate on agro/ICT fest
As part of the efforts to address food security in Africa
through technology, IBM in collaboration with the organisers of #TechPlus2016
is organising an agricultural and information technology festival for the
benefit of programmers and developers who want to develop the agricultural
sector. Tagged ‘Hack-Pitch-Code’, the event will bring together computer
programmers, developers and hackers to deliver technologically driven novel
solutions to agricultural challenges in Africa.
Published by the Punch
Newspaper on Friday, 8th July, 2016
#Education#Innovation:
Etisalat offers students new portals
A telecommunication company, Etisalat, has boosted the
e-learning space for pupils with the inauguration of a Cliqlite Portal, an
internet enabled application that offers access to educational materials.
Published by the Punch
Newspaper on Friday, 8th July, 2016
#Economy: Nigeria
loses N138b to public holiday
The three-day public holiday
declared by the Federal Government in an economy inching closer to recession,
will cost the country N 138 billion by the time activities resume today
Published by the
Guardian Newspaper on Friday, 8th July, 2016
#Power: Electricity
generation stagnates at 3,032MW
Nigeria’s electricity generation, on Wednesday, increased
from 2,524.2 Mega Watts (MW) it recorded during the first week of July to
3,032.7MW, which is a far cry from the 17,720 MW national peak demand forecast
for the country.
Published by the
Guardian Newspaper on Friday, 8th July, 2016
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