Morning Beats

Dangote announces new appointments

In order to strengthen the group’s Executive management team and sustain its strategic business growth trajectory, Africa’s foremost indigenous conglomerate,The Nation

Jaiz Bank unveils five-year strategic plan

Jaiz Bank Plc has come up with a five-year (2018 – 2022) Corporate Strategy to help transform and attain its set mission and vision. Its Managing Director/CEO Hassan Usman disclosed this at the commissioning of the bank’s Modern Training Centre in Zaria.The Nation

ABCON seeks rate review, VAT exemption for BDCs

Group launches Naijabdcs.com portal The Association of Bureaux De Change Operators of Nigeria (ABCON) yesterday asked the Central Bank of Nigeria (CBN) to review the rate at which dollars are sold to bureau de change (BDCs) to enable the operators compete favourably with commercial banks.The Nation

US high interest rates to affect Nigeria’s, others’ oil production

Nigeria and other countries in sub-Saharan Africa may continue to suffer high production cost and reduced output as global oil and gas stakeholders strive to  reduce cost of production per barrel of crude oil.The Nation

CBN boosts foreign exchange market with $210m

The Central Bank of Nigeria (CBN), on Wednesday, injected 210 million dollars into the Inter-bank Foreign Exchange Market in continuation of its efforts to sustain liquidity in the market.The Nation

Naira closes at N362 to dollar at parallel market

The Naira on Wednesday closed at N362 to the dollar, stronger than N363 posted on Monday at the parallel market, the News Agency of Nigeria (NAN) reportsThe Nation

FG okays fresh N80bn for Lagos-Ibadan road …approves N18.87bn for 3rd Mainland Bridge repair

The Federal Executive Council on Wednesday approved additional N80bn for the rehabilitation of Section II of Lagos-Ibadan Expressway from Sagamu to Ibadan.Punch

BoI gets fresh N305bn to finance industrialists

A total of $1bn (N305bn) has been raised by the Bank of Industry to finance the industrial sector of the economy in the 2018 fiscal period.Punch

NNPC announces new date to end gas flaring …says $25bn investments expected in gas sector

The country is expecting over $25bn worth of investments in the gas sector, the Nigerian National Petroleum Corporation announced on Wednesday.Punch

PIB delay threatens $8.4bn annual oil investment

The delay in the passage of the Petroleum Industry Bill is threatening an average capital expenditure of $8.4bn per year expected to be spent on 249 oil and gas fields in Nigeria between 2018 and 2020.Punch

Lagos oilfield reserves rise, investors eye gas project

Investors in Aje oilfield, offshore Lagos, have announced a significant increase in its reserves as well as a confirmation of the viability of the Aje gas development.Punch

Kachikwu asks NNPC, DPR, PPPRA bosses to reply Falana

The Minister of State for Petroleum Resources, Ibe Kachikwu, has ordered the Group Managing Director, Nigerian National Petroleum Corporation, Maikanti Baru; the Director, Department of Petroleum Resources, Modecai Ladan; and Executive Secretary, Petroleum Products Pricing Regulatory Agency, Saidu Abdulkadir, to provide the information being sought by a human rights lawyer, Femi Falana, SAN, on fuel importation and sundry matters.Punch

Ahead of Trade Talks, China Says It Won’t Submit to U.S. ‘Threats’

China won’t succumb to “threats” from the U.S., a senior government official said, hours before talks are set to begin Thursday with a delegation of the Trump administration’s top trade policy officials.Bloomberg