Morning Beats

Tackling low cassava yield

Cassava is a key tuber crop that can help Africa overcome its reliance on food imports for Africa. But experts are concerned that average yield per hectare is still between 10 and 20 tonnes.The Nation

GTB records N52.6b profit in 3 months

Nigeria’s most capitalised financial institution, Guaranty Trust Bank (GTB) Plc recorded modest growths in key performance indicators in the first quarter of this year with pre-tax profit for the three-month period rising to N52.62 billion.The Nation

$16.8b NLNG dividends not remitted to Federation Account, NEITI insists

The Nigeria Extractive Industries Transparency Initiative (NEITI)  Executive Secretary, Dr. Waziri Adio, yesterday insisted that the Nigerian Liquified Natural Gas (NLNG’s) $16.8billion accruable dividend between 2000 to 2015 was not remitted to the Federation Account.The Nation

Govt’s policies impeding ease of doing business, claims MAN

The Manufacturers Association of Nigeria (MAN)  yesterday lamented that the confidence of local and foreign investors in the manufacturing sector on ease of doing business was being threatened by regulatory burden and complexities caused by revenue drive by the three tiers of government.The Nation

Oil nears $75 as Saudi seeks price hike

Oil prices rose yesterday to their highest since late 2014 as U.S. crude inventories declined after sources said top exporter, Saudi Arabia, is seeking to push oil prices higher.The Nation

EU: Non-oil export key to economic diversification

The non-oil export sector must play a major role in Federal Government’s economic diversification agenda, the European Union (EU) in Nigeria has said.The Nation

PenCom chief: Micro-pension scheme to hit 30m by 2024

The micro-pension scheme is expected to help raise pension contributors to 20 million by next year and 30 million by 2024.The Nation

720,000 jobs coming from senior citizen centre

Over 720,000 jobs are expected to be created through the creation of National Senior Citizens CentreThe Nation

AfDB, EIB inject $70m into DBN to boost credit access

The African Development Bank, AFDB, and European  Investment Bank (EIB) yesterday announced the injection of $70 million equity investment into the    newly created    Development Bank of Nigeria (DBN) in other to boost access to credit in Nigeria.Vanguard

IMF warns of another melt down, as global debt rises to $164trn

At the backdrop of increasing impressive performance of the global economy, the Managing Director of the International Monetary Fund, IMF, Mrs Christine Lagarde, has warned of some dangers in the horizon, as world debt rises to $164 trillion.Vanguard

Naira depreciates to N360.31/$ in I&E

The naira yesterday depreciated by 15 kobo to N360.31 per dollar in the Investors and Exporters (I&E) window of the foreign exchange market.Vanguard

BCG lists Dangote Group, Globacom, GTB among drivers of economic activities in Africa

Boston Consulting Group (BCG) has listed Dangote Group, Globacom and Guaranty Trust Bank among six Nigerian companies driving amalgamation of economic activities in Africa.Vanguard

The Emerging World's Most Unruly Currency Has Taken a Chill Pill

The unruly child of emerging markets is calming down, thanks to Cyril Ramaphosa.Bloomberg

There’ll be chaos if NASS criminalises estimated billing – NERC

The Nigerian Electricity Regulatory Commission has warned that there will be chaos in the power sector if the National Assembly criminalises the issuance of estimated bills by power distribution companies to unmetered customers.Punch

Ecobank, MTN collaborate to boost financial inclusion in Africa

MTN Group and Ecobank Transnational Incorporated have come together to provide mobile financial services across the various African countries where they currently operate.Punch

NETCO delivers N750m dividend to NNPC

The National Engineering and Technical Company Limited, has for the first time since its establishment, delivered the highest dividend of N750m to its shareholder, the Nigerian National Petroleum Corporation.Punch

NNPC ends lease agreement with mega station owners

The Nigerian National Petroleum Corporation on Thursday announced that it had ended its lease agreement with owners of the super mega petrol station along the Abuja Airport Road in the Federal Capital Territory.Punch

Uhuru’s plan to cut rents, home prices in Nairobi

The planned construction of 30,000 new homes in Nairobi could significantly cut rents in the city’s middle- and low-end estates as well as cause a massive price correction in mid-level housing market, realtors said.Business Daily

Gupta-linked finance chief quits Transnet

In what is seen as the start of efforts to reverse state-capture at Transnet, the company’s group chief financial officer, Garry Pita, resigned with immediate effect on Thursday, citing “deteriorating” health.Business Day