#Oil: Expect Oil Sector Divestments
to Restart In 2017
Analysts at Ecobank have
said that while there were no major efforts to divest new assets in 2016,
following the disruptions by militants in the Niger Delta, divestment efforts
are likely to restart in 2017.
Published on the Business day Newspaper on Monday, January
16, 2017
#Oil: Nigeria to Average 1.8m Bpd
Crude Oil Output In 2017
Analysts at Ecobank have
forecasted that Nigeria’s average oil output will be 1.8m barrels per day in
2017 up by thirteen per cent from the 2016 averages. According to the bank’s
analysts, three key factors are likely to affect Nigeria’s output in 2017.
Published on the Business day Newspaper on Monday, January
16, 2017
#Agric: FG to Spend N12bn on Agric
Value Chain Development
The Federal Government is
proposing to spend a total of N12 billion for the promotion and development of
the value chain of some specific crops in 2017.
Published on the Business day Newspaper on Monday, January
16, 2017
#Agric: FG Sets Up 21-Man Committee
to Restructure, Recapitalise Bank of Agriculture
The Federal Government has
set up a 21-man steering committee to restructure and recapitalise the Bank of
Agriculture (BOA). Inaugurating the committee in Abuja on Monday, Vice
President Yemi Osinbajo, urged the committee to work within a record time to
actualise the goal.
Published on the Business day Newspaper on Monday, January
16, 2017
#Innovation: Stanbic IBTC Provide
Solutions to School Fees Payment Burden
Stanbic IBTC Bank has
provided a solution to help parents minimize financial burden as schools reopen
for a new term. The bank is encouraging parents to take advantage of its
bouquet of payment solutions to assist its customers. The solutions include
Short Term Loans, Salary Advance (SALAD) for salaried workers, and Credit Cards
that parents can take advantage of to pay the school fees of their
children/wards without negatively impacting the family income.
Published by the Daily Times Newspaper on Tuesday, January
17, 2017
#Economy: Nigeria’s Economic Growth
Rate to Hit 0.8% In 2017-IMF
The International Monetary
Fund (IMF) has projected hike in the Nigeria’s economic growth rate in 2017 to
.8 percent from the 0.2 percent that the Fund had projected for the country
last October. In its latest World Economic Outlook update, the IMF said its
forecasts for Nigeria were revised up mainly to reflect high oil production due
to security improvements in the country.
Published by the Daily Times Newspaper on Tuesday, January
17, 2017
#Empowerment #MSMEs: United Capital
Plc, Societe Generale, Orange, Others Support African SMEs with €77m Fund
United Capital Plc, a
leading African investment banking group, has partnered with global financial
and corporate institutions to set up a Franco-African Investment Fund (FFA),
with investible funds of 77 million euro. The aim of the fund is to accelerate
the growth of innovative and entrepreneurial African and French small and
medium scale enterprises (SMEs) with development projects on both continents.
It is the first cross border investment fund dedicated to the development of
African and French SMEs, and will have a lifespan of 10 years.
Published by the Daily Times Newspaper on Tuesday, January
17, 2017
#Empowerment: NUPENG Trains Tanker
Drivers on Workplace Safety
The Petroleum Tanker
Drivers (PTD) branch of the National Union of Petroleum and Natural Gas Workers
(NUPENG) has begun training its members in the wake of recurrent road accidents
caused by tanker drivers across the country.
Published by the Daily Times Newspaper on Tuesday, January
17, 2017
#Event: OPEC, IEA, IEF, Hold 3rd
Symposium on Gas, Coal Market Outlook
The Organization of
Petroleum Exporting Countries (OPEC) the International Energy Agency (IEA) and
the International Energy Forum (IEF) have held the 3rd Symposium on Gas and
Coal Market Outlooks. The conference held in Paris recently with the purpose of
exchanging views and comparing outlooks for natural gas and coal markets in the
short, medium and long term.
Published by the Daily Times Newspaper on Tuesday, January
17, 2017
#Oil: OPEC Output Inches Down After
November Deal
OPEC oil production fell
in December but remains well above levels envisaged under a recent deal due to
take effect from January, the cartel’s new monthly report showed Wednesday. Total
output by the Organization of the Petroleum Exporting Countries fell 221,000
barrels per day (bpd) to 33.1 million bpd from November, the December report
showed, citing secondary sources.
Published by the Guardian Newspaper on Wednesday, January 18,
2017
#Power: Electricity Generation
Drops to 3,233 Megawatts
Electricity generation
dropped to 3,233 megawatts (MW) on Monday, down from 4,500MW recorded last week
due to gas constraints, while the Nigeria Electricity Supply Industry (NESI),
said the sector lost 2,885MW estimated at N1.385 million on January 14, due to
gas constraints.
Published by the Guardian Newspaper on Wednesday, January 18,
2017
#Investment: Global Energy Investment
to Hit $44tr By 2040
About 60 per cent of a
cumulative $44 trillion in investment needed in global energy supply is
expected to come from the oil, gas and coal industry in 2040, according to
International Energy Administration (IEA). IEA said in its latest World Energy
Outlook 2016 that an extra $23 trillion is required for improvements in energy
efficiency.
Published by the Guardian Newspaper on Wednesday, January 18,
2017
#Technology: Global IT Spending To
Grow 2.7 Per Cent In 2017
Worldwide Information
Technology (IT) spending is projected to hit $3.5 trillion in 2017, a 2.7 per
cent increase from 2016, according to Gartner, Inc. However, this growth rate
is down from earlier projections of three per cent.
Published by the Guardian Newspaper on Wednesday, January 18,
2017
#Innovation: New App Offers Free
Medical Consultation
Nigeria and other African
countries now have access to receiving medical support through an Apple app
called ‘Ada’. The custom-built Artificial Intelligence engine is developed by
their team of medical doctors and scientists.
The app is created to help
people check symptoms anytime, anywhere by asking simple questions without
complicated medical language. Those that use the app can set up multiple
profiles in order to manage the health of their family members as well.
Published by the Guardian Newspaper on Wednesday, January 18,
2017
#Infrastructure: Lagos to Construct
181 Roads
Governor Akinwunmi Ambode
of Lagos State on Thursday said that 181 roads would be constructed across the
state before the second quarter of the year.Ambode spoke at the state’s
quarterly Town Hall Meeting with residents of Lagos-East Senatorial District
held at the Ajelogo Housing Scheme, Mile 12, in Ketu area of the state. He said
the construction would be visible in all the 20 Local Government Areas and 37
Local Council Development Areas of the state.
Published on the Punch Newspaper on Thursday, January 19, 2017
#Economy: FG Unveils Economic
Recovery Plan in February
Vice-President Yemi
Osinbajo on Wednesday highlighted some of the plans being put in place by the
Federal Government to revamp the nation’s economy currently in recession. While
he said an Economic Recovery Growth Plan upon which the 2017 budget was based
would be launched in February, he added that the government was considering
using the huge money with pension administrators to finance the nation’s infrastructure.
Published on the Punch Newspaper on Thursday, January 19, 2017
#Economy: Naira Depreciates Further
Against Dollar
The Naira on Thursday
remained indifferent to the sale of over $250m to licensed Bureau De Change
operators nationwide as it suffered another loss against the dollar. The Naira
inched against the dollar at the early hours of Thursday morning by 2 points
but could not sustain the gain as it shed 3 points to close at N498 to a dollar
at the open market.
Published on the Punch Newspaper on Thursday, January 19, 2017
#Investment: Nigeria to Improve
Ties with Germany
Nigeria together with some
African countries would seek to improve trade and investment ties with German
at Germany-Africa Business Forum slated to hold at Frankfurt on March 23.
Published on the Punch Newspaper on Thursday, January 19, 2017
#Oil: OPEC Oil Output To Drop in January – IEA
Steeper cuts in OPEC oil production are likely this
month as producers increasingly implement a recent landmark deal aimed at
stabilising oil prices, the IEA said Thursday.
Published on the Punch Newspaper on Thursday, January 19, 2017
#IndustryPulse: Dangote Shuts
Tomato Paste Plant over Dollar Scarcity
Africa’s richest man,
Aliko Dangote, has shut his new tomato paste plant in Kano due to a shortage of
dollars needed to import raw materials, a senior executive has said.
This is the second of such
closures in months, in a blow to the Federal Government’s drive to diversify
the economy.
Published on the Punch Newspaper on Thursday, January 19, 2017
#Power: Electricity Sector Records
First Total Collapse In 2017
Nigeria electricity sector
recorded zero power supply across the country, yesterday evening at 6.0 pm, due
to total system collapse, with average power generation crashing to 1, 618
megawatts hour (MWh), down from 2, 904 MWh generated just before the system
collapsed dropping generation to zero megawatts.
Published by the Vanguard Newspaper on Friday, January 20,
2017
#Economy: Naira Depreciates Further
To Exchange at N498 Against Dollar
The Naira on Thursday
remained indifferent to the sale of over 250 million dollars to licensed Bureau
De Change (BDC) operators nationwide as it suffered another loss against the
dollar. The Naira inched against the dollar at the early hours of Thursday
morning by 2 points but could not sustain the gain as it shed 3 points to close
at N498 to a dollar at the open market.
Published by the Vanguard Newspaper on Friday, January 20,
2017
