Morning Beats

Fuel scarcity: Hope rises as FUPRE designs modular refinery

When the on-going fuel scarcity started towards the end of 2017, many people and organisations did not expect it to last for some reasons. First, Nigerian National Petroleum Corporation, NNPC, expressed its determination to tackle it.Vanguard

Milost move to inject $1bn investment in Unity Bank

Milost Global Incorporated is planning to inject about $1 billion to recapitalize Unity Bank Plc, through a combination of   equity and debt instruments.Vanguard

Export of Agric commodities exceeds 150% in one year — NAQS

Nigeria’s export of agricultural commodities exceeded 150 per cent in the last one year.Vanguard

NERC breaks DISCOs’ monopoly, introduces MAPs

Provision of  electricity meters will no longer be the exclusive preserve of distribution companies, DISCOs, as the Nigerian Electricity Regulatory Commission, NERC, has introduced another class of operators known as Meter Asset Providers, MAPs.Vanguard

Investors dump Cadbury shares despite 200 profit growth, dividend

Investors in the Nigerian Stock Exchange, NSE, Monday dumped the shares of Cadbury Nigeria Plc after the issuer reported 200 percent growth in profit after tax, PAT, for the year ended December 31, 2017 and recommended16 kobo dividends for the year.Vanguard

CBN injects $210m as naira appreciates to N360.45/$

The Naira yesterday started the week with a 12 kobo appreciation to N360.45 per dollar, in the Investors and Exporters (I&E) window, even as the Central Bank of Nigeria (CBN) injected $210 million into the foreign exchange market.Vanguard

FG, RMI to cut cost of electricity delivery by 60%

THE Federal Government through the Rural Electrification Agency, has entered into a partnership with the Rocky Mountain Institute, RMI, to bring down the cost of mini-grid-delivered electricity across the country by over 60 per cent.Vanguard

Fuel import costs $15b yearly

Nigeria is spending about $15billion yearly on fuel importation, the  Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru, has said. A statement titled: Green Field Refinery Initiative yesterday quoted Baru as saying the country spends between $12billion to $15billion yearly to reduce the deficit in daily domestic fuel consumption in the country.The Nation

N21.7tr debt for economic growth, says Adeosun

NIGERIANS heard yesterday not to worry over the country’s rising debt profile which has hit N21.7 trillion, going by the Debt Management Office (DMO) statistics.The Nation

‘Due process ignored in 9mobile’s sale’

tHE transaction advisor handling 9mobile’s sale process, Barclays Africa, has admitted ignoring due process in the process that threw up Teleology Holdings Limited and Smile Communication as preffered and reserved bidders respectively.The Nation

FRC: Lagos, Osun, C’River’s debts exceed revenues by over 480%

The debt status of most states of the federation exceeds 50 per cent of their annual revenues.Punch

Overloaded heavy duty vehicle owners to pay N10m fine – FG

Owners of overloaded heavy duty vehicles that ply federal highways will start paying fines ranging from N1m to N10m, the Federal Government has announced.Punch

N1tn debt’ll cause shutdown of power plants – Gencos

Electricity generation companies have said they are not planning to disrupt power supply in the country but that their inability to pay for gas due to the non-payment of the debt owed them will lead to the shutdown of power plantsPunch

36 stocks slide, Cadbury, Niger Insurance, Unity Bank top losers

The Nigerian equities market started the week in a loss after 36 stocks trended southwards.Punch

Selling pressure dominates T-bills market

Selling pressure dominated the secondary market for Treasury Bills on Monday as the average T-bills yield advanced by 0.08 per cent to settle at 14.55 per cent.Punch

Kenya’s Central Bank Cuts Key Rate to Lowest in Three Years

Kenyan economic policy makers cut the central bank’s benchmark interest rate for the first time in 18 months as slowing inflation allows room to spur growth.Bloomberg

AB-InBev to Expand in Tanzania With New $100 Million Brewery

Anheuser-Busch InBev NV agreed to build a $100 million brewery in Tanzania as the world’s biggest beermaker steps up investment on the continent to meet booming demand.

Bloomberg