Morning Beats

Dangote exports 211kt cement to three African countries

Dangote Cement for the first quarter exported a total of 211 kilotons of cement to Ghana, Togo and Niger. The company’s volume in Nigeria also increased significantly by 5.3 per cent to nearly 4 million tons for the period under reviewThe Nation

Shareholders approve new name for Custodian and Allied

Shareholders of Custodian and Allied Plc yesterday approved a change of the group’s name to Custodian Investment Plc in a strategic move to align the brand name with the enlarged business outlook of the group.The Nation

Lagos Q1 IGR hits N103.4b

Capital expenditure takes N93b The Lagos State government yesterday said its internally generated revenue (IGR) for the first quarter (Q1) of this year stood at N103.476billion, as against N96.7billion recorded in the previous year.The Nation

Airtel’s profit falls by 78%

India’s largest private telecom firm, Bharti Airtel, yesterday reported its lowest quarterly net profit in about 15 years, as competition with free voice calls and dirt-cheap data tariffs from new entrant,The Nation

World Bank’s N8.6b cash coming to 5,916 youths

The World Bank, through the FADAMA III Additional Financing (AFII) Programme, will soon disburse N8.6 billion to 5,916 youths across the country in the Graduate Unemployment Youths Support Scheme (FADAMA GUYS)The Nation

Strong demand pushes oil near $80

Brent crude oil rose for a sixth day yesterday to hit its highest since November 2014 at over $75 per barrel. This development is buoyed by expectations that supplies will tighten just as demand reaches record levelsThe Nation

CBN injects $210m into forex market

The Central Bank of Nigeria (CBN) has stepped into the inter-bank sector of the Foreign Exchange market, yet again, intervening in the wholesale segment and other sectors of the market to the tune of $210 millionThe Nation

We’ll increase Nigeria’s identity database to 70 million – Buhari

The Federal Government had a target of increasing the identity database of Nigerians from 28 million to 70 million, President Muhammadu Buhari, announced on Tuesday.Punch

FG hasn’t done enough on infrastructure maintenance – Fashola

The Federal Government has not done enough in the area of maintenance of infrastructure across the country, the Minister of Power, Works and Housing, Babatunde Fashola, has said.Punch

FIRS generates N1.17tn in three months

The Federal Inland Revenue Service generated a total of N1.17tn in the first quarter of this year from the collection of various taxes, according to a document in the possession of our correspondent.Punch

Nigeria, others losing $50bn annually to illicit financial flows – AfDB

Nigeria and other African countries are losing more than $50bn per annum to illicit financial flows, the African Development Bank has said.Punch

NACC, stakeholders chart path to trade growth via PPP model

The Nigerian-American Chamber of Commerce (NACC) and stakeholders in the shipping industry have advocated improved public-private partnership (PPP) as a way of improving trade growth and putting the country back on the path of recovery.Guardian

Government losing revenue to counterfeiting in FMCG sector

Stakeholders in the nation’s Fast Moving Consumer Goods (FMCG) sector have called on government and key regulators to deploy anti-counterfeiting measures as well as policies to protect investments in the sector, considering its potential and impact on everyday life.Guardian

‘Gains of UNIDO’s $50 million programme in Nigeria’

The Minister of State, Federal Ministry of Industry, Trade and Investment, Aisha Abubarkar, has said that the implementation of the new UNIDO Country Programme (2018 – 2022), would go a long way in driving Inclusive and Sustainable Industrial Development (ISID) in Nigeria.Guardian

Institute accuses ICAN of suppressing growth of accounting profession

The President of the Chartered Institute of Forensic and Investigative Auditor (CIFIA), Dr Enape Ayishetu, has described statement credited to the President of the Institute of Chartered Accountants of Nigeria (ICAN) as wicked, unbridled and opportunistic way of monopolising accounting practice in Nigeria.Guardian

Bob Diamond Courts Pimco, Fidelity in Trading Push at Atlas Mara

Bob Diamond’s African retail banking venture is getting a boost from some of the biggest names in finance.Bloomberg

Emerging-Market Investors Have Some Memory Issues

If you're ever looking for examples of hope triumphing over experience, look no further than the emerging-market economies.Bloomberg