Morning Beats

FG releases N1.248trn for capital projects —Adeosun

The Federal Government has released N1.248 trillion for capital projects,Vanguard

NSIA okays $20m for three healthcare facilities

The Nigerian Sovereign Investment Authority (NSIA) has set aside $20 million to develop three healthcare facilities in three states.The Nation

Recycling to contribute $400b to global GDP

The President of Bureau of International Recycling (BIR), Ranjit Baxi, has said the benefits of recycling are immense.The Nation

NNPC to cut daily loss on fuel supply to N516m

The Nigerian National Petroleum Corporation (NNPC) is to reduce its daily loss from N774 million to N516 million,The Nation

OPEC, others comply with output cut

Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC producing countries in February set voluntary oil production adjustments, achieving a level of 138 per cent compliance, The Nation

Eni, ADNOC seal $875m deal on two UAE fields

Italian oil firm, Eni, has signed  two concession agreements with Abu Dhabi National Oil Company (ADNOC) for the acquisition of five per cent stake in the Lower Zakum offshore oil field and 10 per cent stake in the oil,The Nation

EMMAN to govt: break meter supply monopoly

The Electricity Meter Manufacturers Association of Nigeria (EMMAN) has appealed to the Federal Government to break the monopoly of distribution companies (DisCos) in the sale of meters to consumers.The Nation

Ikeja Electric to customers: desist from energy theft, vandalism

The management of Ikeja Electric has appealed to customers to desist from meter bypass, vandalism and tampering with facilities, including meters, as anyone caught will be prosecuted.The Nation

IPMAN seeks increased fuel supply

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has urged the Nigerian National Petroleum Corporation (NNPC) to intensify the distribution of petroleum products to Western depots to address fuel shortage in the hinterlands.The Nation

FG recovers N9bn from Whistle Blowing policy – Adeosun

THE Federal Government Wednesday said that the whistle Blowing policy introduced by the President Muhammadu Buhari-led administration has helped in saving about N9 billion. Vanguard

NSE: Investors lose further N68bn on 35 equities decline

Investors in the stock market today lost another N68 billion from their investment as the free fall in the market continues.Vanguard

MAN seeks reversal of alcohol, tobacco excise duty hike

The Manufacturers Association of Nigeria has called on the Federal Government to forget the proposed hike in the excise duty on alcohol and tobacco products, saying if it goes ahead to implement the proposal, the firms producing the products will shut down and increase job lossesPunch

National Assembly to pass 2018 budget April 24

The Senate and the House of Representatives have taken a decision to pass the 2018 budget on April 24.Punch

Prepaid meter providers must deliver in 10 days –NERC

Meter asset providers are expected to supply and install meters within 10 working days of payment on the premises of electricity customers who choose the option of paying for the metersPunch

We’ve increased tax revenue by over N700bn – Fowler

Through the deployment of Information and Communications Technology, the Federal Inland Revenue Service has been able to raise tax revenue by over N700bn in the last two years.Punch

Don’t sell NLNG, RMAFC tells FG

The Revenue Mobilisation Allocation and Fiscal Commission has warned the Federal Government against the proposed sale of national assets, especially the Nigerian Liquefied Natural Gas.Punch

FG saved N288bn through integrated payroll system – Adeosun

Between 2007 and 2017, the Federal Government was able to save the sum of N288bn in personnel costs through the implementation of the Integrated Personnel and Payroll Information System.Punch

Gas shortage: 12 power plants suffer setback, 2000MW idle

The challenge of gas supply in the nation’s power sector left nearly 2,000 megawatts capacity idle at 12 power plants on Wednesday.Punch

Smugglers Run Riot as Nigeria Tries to Keep Foreign Rice at Bay

At Nigeria’s normally manic border post of Seme, Lasisi Fanu says business has all but ground to a halt.Bloomberg

Fed Lifts Rates, Steepens Path Through 2020 for More Hikes

Federal Reserve officials, meeting for the first time under Chairman Jerome Powell, raised the benchmark lending rate a quarter-point and forecast a steeper path of hikes in 2019 and 2020, citing an improving economic outlook.Bloomberg

US rate increase boosts rand

The rand reacted surprisingly to the US central bank raising interest rates on Wednesday by strengthening from over R12/$ to R11.82/$Business Day

Africa leaders ink largest free market treaty

African leaders gathered in Kigali have signed the Continental Free Trade Area (CFTA) treaty to create the world’s largest single market.Business Daily

Poor quality keeps down coffee prices at auction

Coffee prices at the auction remained flat this week as the trading continues to receive low quality beans with the main crop season almost coming to an end.Business Daily