Morning Beats

Reps tell Kachikwu, Baru to halt refineries’ $1.8bn TAM

The House of Representatives on Thursday asked the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, and the Group Managing Director of the Nigerian National Petroleum Corporation, Dr. Maikanti Baru,Punch

Petrol queues may not disappear soon, says Kachikwu

The queues for Premium Motor Spirit, popularly known as petrol, in some parts of the country may not go away soon, the Minister of State for Petroleum Resources, Ibe Kachikwu, said on Thursday.Punch

Japaul, Wapic, Total lead gainers as market sustains rally

The equities market on Thursday continued on its positive trajectory as Japaul Oil & Maritime Service Plc, Wapic Insurance Plc and Total Nigeria Plc emerged as the best performing stocks.Punch

Average T-bills yield closes at 14.84%

At the close of trading at the fixed income market on Thursday, the average Treasury bills yield slumped by 0.08 per cent to close at 14.84 per cent, on the back of sustained buying pressures.Punch

S’African stocks fall, rand barely changed

South African stocks fell on Thursday led by precious metals producer Sibanye-Stillwater reporting an annual loss and cutting its dividend, while the rand remained range bound amid risk-on sentiment in emerging assets.Punch

Allocation drops by N20bn, FG, states, LGs share N635.55bn

The Federation Account Allocation Committee on Thursday approved the sum of N635.55bn to be shared to the three tires of government from the Federation Account as statutory allocation for the month of January.Punch

7 power firms generate zero mw of electricity

Seven electricity generating companies (GenCos) were unable to generate electricity yesterday as their plants were shut down due to unavailability of gas and other infrastructural issues.Vanguard

TSA: INTELS pays N13.2bn to NPA

The contract termination controversy between INTELS Nigeria Limited and the Nigerian Ports Authority (NPA) may be eased off  following the payment of $42.6 million (N13.2 billion) by INTELS into the NPA’s Treasury Single Account (TSA).Vanguard

Buhari signs law extending FCT budget lifespan

ABUJA – PRESIDENT Muhammadu Buhari has assented to the Federal Capital Territory Appropriation (Amendment) Act 2018.Vanguard

FG raises N80bn from bond auction

The Debt Management Office (DMO) has revealed that the federal government sold N79.62 billion worth of bonds in its second bond auction for 2018 out of the N100 billion on offer.Vanguard

Firm to curb aflatoxin in maize, groundnut

A firm, Harvestfield Industries Limited, has moved to curb aflatoxin in maize that forced regulators to confiscate grain and prevent its entrance into the market.The Nation

NEPC, LCCI to ease Nigeria’s export within ECOWAS

A Committee  has been formed for ease of goods movement within the Economic Community of West African States (ECOWAS).The Nation

Reps hail CBN’s intervention projects

The House of Representatives Committee on Banking and Currency yesterday applauded the intervention project of the Central Bank of Nigeria (CBN) at the Administrative Staff College (ASCON), Topo, Badagry Lagos.The Nation

‘Africa’s investment opportunities untapped’

Africa still has great business and investment opportunities that are largely untapped, Goldmine Global Services, a Nigerian firm which facilitates inter-nations trade fairs,  has said.The Nation

Why we acquired Konga, by Zinox

The Zinox Group has acquired Konga to create jobs for over 750 youths and deepen the e-commerce space in the country. Many workers of the company laid off in the restructuring process may be recalled.The Nation

Review tariff on alcohol, tobacco, union urges govt

The Food, Beverage and Tobacco Senior Staff Association (FOBTOB) has urged the Federal Government to re-evaluate the recommendation to raise tariff on alcohol and tobacco to prevent job lossesThe Nation.

Wheat flour price falls again on low demand

The price of wheat flour has dropped for the second time in two weeks falling below that of maize flour, which is a relief to many households.Business Day Kenya

Report shows investors are rekindling their love for SA’s mines

SA improved in the overall ranking of mining jurisdictions, returning to levels of five years ago, according to data released by Canada’s Fraser Institute, which surveys mining companies about the attractiveness of the countries in which they investBusiness Day

Kenya Re rating cut as competition hots up

American rating agency A.M. Best has downgraded the financial strength rating of listed Kenya Reinsurance Corporation (Kenya Re) to B (Fair) from B+ (Good). The long-term issuer rating was cut to bb+ from bbb-.Business Day Kenya

Kenya raises $2bn in fresh Eurobond issue

Kenya has raised Sh202 billion ($2 billion) in a new sovereign bond issue that was closed on Wednesday, the National Treasury has said.Business Day Kenya

Prices of tea remain flat at Mombasa sale

Tea prices at the Mombasa auction remained flat at this week’s sale compared with the previous trading even as the volumes offered declined.Business Day Kenya