Morning Beats

Free trade deal: African ministers back AfCFTA

Despite opposition by Nigeria’s private sector operators against the proposed African Continental Free Trade Area (AfCFTA) agreement, the framework document has got the strong commitment and support of finance ministers and policy makers from across the continent.The Nation

CBN injects $100m into interbank market

The Central Bank of Nigeria (CBN) yesterday released  $100 million into the Nigerian Forex market to boost liquidity in the market.The Nation

Fed Govt ‘pays contractors N2.7 trillion’

The Federal Government has paid N2.7 trillion owed various contractors since coming into office in 2015, Minister of State for Power, Works and Housing Suleiman Zarma has saidThe Nation

Shareholders approve Forte Oil’s assets sales

Shareholders of Forte Oil Plc have approved the company’s plan to restructure its operations by divesting from its upstream services and power generating businesses and the sale of its downstream business in Ghana.The Nation

Food, beverage sector loses 11,000 jobs, 12 firms

About 11,254 jobs have been lost in the food, beverage and tobacco sub-sector in the last four years, the Association of Food, Beverage and Tobacco Employees (AFBTE) President, Patrick Anegbe, has said.The Nation

Osinbajo advises states against raising IGR at all costs

Vice-President Yemi Osinbajo on Thursday advised state governments not to fall into the temptation to prioritise raising Internally Generated Revenue at all costs.Punch

35 stocks fall, investors lose N154bn in one day

The losses recorded by 35 equities listed on the Nigerian Stock Exchange at the end of trading on Thursday wiped out a total of N154bn in investors’ wealth.Punch

Manufacturers hope on Nigeria-China currency swap to reduce costs

Manufacturers have expressed the hope that the proposed currency swap between Nigeria and China will go a long way in reducing their cost of doing business.Punch

NDIC warns of looming bank failure

The Nigeria Deposit Insurance Corporation has said another bank failure is imminent in the country on the back of weak corporate governance culture and weak internal control.Punch

Domestic financing critical to economic growth, says Kuru

The Managing Director, Asset Management Corporation of Nigeria, Mr. Ahmed Kuru, has said that domestic financing options, through domestic savings and private sector financing, are critical to the economic growth of the country.Punch

Flour Mills, DowDuPont to develop hybrid maize seed

Flour Mills of Nigeria Plc has announced a strategic partnership with the agricultural division of DowDupont, Corteva Agriscience, on the development of maize hybrid seed.Punch

Lafarge Africa plans to cut debt by 2020

Lafarge Africa Plc, the continent’s second-biggest producer of cement, plans to cut debt in the next two years as it seeks to boost profit before resuming expansion, the company’s Chairman, Mr. Mobolaji Balogun, said.Punch