Morning Beats

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FEC approves N59.86bn to secure Nigeria’s waters
The Federal Executive Council has approved a $195m (N59.86bn at N307 to a dollar) contract for the security of Nigeria’s waters, the Minister of Transportation, Rotimi Amaechi, has said.Punch
SON Act to revamp ailing industries, boost local production
The Standards Organisation of Nigeria (SON) has stated that its reinvigorated SON Act 2015 is aimed at revamping the nation's ailing industries while also creating an enabling environment to attract both local and foreign direct investments into the country.The Nation
Obat partners VAE on multi-million naira oil deal
Obat Oil and Petroleum Ltd. has just entered into a long-term agreement with Vital Allied Energy Supply & Services Ltd, (VAE) to supply 100,000mt of refined product quarterly, with a delivery of 30,000mt monthly.The Nation
Cocoa Festival makes debut at Chocoa 2018 Amsterdam
Cocoa Festival, the initiative of the Eti-Oni Development Group, made her debut on Thursday, February 22 at the 6th Chocoa Show in Amsterdam which came up between February 21 and 25. According to a statement by the group,The Nation
A Boost for Non-Oil Sectors
The Nigerian National Petroleum Corporation (NNPC) has expressed its commitment towards providing the necessary assistance for Nigeria to attain competitive edge in non-oil sectors of the economy.Vanguard
Refineries revamp process almost concluded – Kachikwu
Minister of State for Petroleum Resources, Mr. Ibe Kachikwu, weekend, stated that the ongoing process of revamping the country’s existing refineries is almost concluded.

Daniel Mantsha steps down as Denel chairman
The board chairman of state-owned arms manufacturer Denel‚ Daniel Mantsha‚ has resigned.Business Day


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Nigerian Stock Exchange This Week

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The Market returned to its five days trading after the sallah break of last week. It wasn't a great week for the Market even as it climax the end of trading for the month of August.  The Market opened on a negative notes on Monday, however, made a bold return on Tuesday but to frizzle out for the rest of the week with a three days consecutive losses.  The All Share index lost in what seems to be the bear dominated week. The index was down  1.63% to close the week at 34,848.45. This brought the year to date return of the ASI to (8.88%) on the negative side of the number line. The bull had a larger share of the Market though, with a breadth of 3 in favour of the Bulls. However this is little to little to reflect on the overall Market as highly capitalized stocks shed weight.  EQUITY A total turnover of 1.533 billion shares worth N23.026 billion in 17,009 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 968.947 million shares
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