Morning Beats

Oil output dips on Nigeria’s, Venezuela’s outages

The oil output of the Organisation of Petroleum Exporting Countries (OPEC) fell to a 13-month low in May due to  Nigerian outages, declining Venezuelan production, and strong compliance with a supply-cutting deal, it was learnt yesterday.The Nation

NPA: $40m equipment coming to Calabar Port

The Nigerian Ports Authority (NPA) has concluded plans to deploy equipment worth over $40 million to Calabar port, in Cross  River State, its Managing Director, Ms Hadiza Bala Usman, said yesterday.The Nation

May & Baker Nigeria ready to raise new capital

Shareholders approve N3b new capital May & Baker Nigeria Plc is finalising arrangements to raise new capital through a rights issue as the company seeks to recapitalise its operations to drive a new vision of being the dominant healthcare brand in the Sub-Saharan Africa region.The Nation

NNPC: petrol landing cost exceeds N171 per litre

Firm denies fuel subsidy existence The Nigerian National Petroleum Corporation (NNPC) yesterday cried out over the increase in the landing cost of petrol.The Nation

Banks to keep N1b collateral for OTC deals

CBN Deputy Governor to quit Commercial banks  were yesterday directed by the Central Bank of Nigeria (CBN) to pledge N1 billion collateral in Government/CBN Securities to participate in Over-the-Counter (OTC) trade settlement.The Nation

PIGB suffers setback as National Assembly re-works bill

The Petroleum Industry Governance Bill has suffered a setback two months after it was passed by the National Assembly.Punch

Senate confirms four Buhari’s CBN board nominees, drops one

The Senate Committee on Banking, Insurance and Other Financial Institutions had screened the nominees on Wednesday.Punch

Nigeria’s economic outlook positive, says Udoma

The Minister of Budget and National Planning, Senator Udo Udoma, has restated that Nigeria’s economic outlook for 2018 and over the medium-term is very positive.Punch

Stakeholders fault FG’s stance on power supply

Stakeholders in the Nigeria’s power sector have faulted the Federal Government’s claims regarding regular power supply in the country. According to them, the increase in electricity supply has remained insignificant to have impact on consumers.Guardian

Nigeria remains a formidable investment hub in Sub-Sahara Africa, says FNCCI

Nigeria remains a formidable investment hub in sub-Saharan Africa as it is ranked the number one business destination in the region and as well one of the sought business destination from countries around the world, the Franco-Nigerian Chambers of Commerce and Industry, has said.Guardian

Investors’ wealth depreciates further by N181 billion in bearish trading

The reign of the bears continued unabated to the last trading day of the month of May, as most highly capitalised stocks depreciated in price market, causing market capitalization to plunge further by N181 billion.Guardian

Gtext group targets NSE listing in five years

Gtext global, a conglomerate of companies has indicated interest to get listed at the Nigerian Stock Exchange as part of its expansion plans to global market in the next five years. The Chief Executive Officer of the group, Stephen Akintayo, disclosed this at a media conference to celebrate its 10 years anniversary in Lagos on Wednesday.Guardian