Morning Beats

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Nigeria’s agric export earnings N5b, says Ogbeh

The Minister of Agriculture Audu Ogbeh yesterday said Nigeria’s agricultural export earnings have increased by 180 per cent, hitting over N5 billion in the last one year.The Nation
AfDB Board approves $15m equity deal in Africa

The African Development Bank (AfDB) Board has approved a $15 million equity investment in Africa Food Security Fund (AFSF), to support enterprises in agri-business SMEs and enhance food security in AfricaThe Nation
Forex: CBN boosts retail SMIS with $343.06m

The Central Bank of Nigeria (CBN) yesterday intervened in the Retail Secondary Market Intervention Sales (SMIS) $343.06 million injection.The Nation
MAN: manufacturing value rises

The Manufacturers Association of Nigeria (MAN) has given a pass mark to some government policies relating to the real sector.The Nation
‘Abuja Light Rail will create over 20,000 jobs’
Federal Capital Territory (FCT) Permanent Secretary  Chinyeaka Ohaa has said  the Abuja Light Rail can generate  over 20,000 jobs and  boost the economic fortunes of the territoryThe Nation
Why operators are kicking against alcohol, tobacco tariff hike

The upward review of the excise duty on alcohol and tobacco kicked off Monday. The government envisaged that the new rates, to be spread over a three-year period,The Nation
PZ Cussons invests N60b in oil palm estates

PZ Cussons has reiterated its resolve to deepen investments in the palm oil sector with N60 billion. This follows high demand for edible oils and high levels of domestic consumption.The Nation
External reserves gain $203m, CBN boosts forex supply
The nation’s foreign exchange reserves increased by $203.2m in the six days to Wednesday, the latest data from the Central Bank of Nigeria showed on Thursday.Punch
We’ll be fair to all regions in project execution – FG
The Federal Government will continue to implement projects across the country in a manner that will show equity and fairness to all the regions of the country.Punch
CBN plans incentives for Nigerian importers in currency swap deal
The Central Bank of Nigeria (CBN) has authorized the use of Renminbi (RMB) instead of dollar by Nigerians to import some specific goods from China to achieve maximum benefit in the recent $2.5 billion currency swap pact signed by both countries.Guardian

CWG gets FG’s nod to install prepaid meters
CWG Plc has been confirmed as one of the companies licensed by the Nigerian Electricity Regulatory Commission (NERC) to participate in the procurement of prepaid meters in the Nigerian Electricity Supply Industry (NESI).Guardian

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Nigerian Stock Exchange This Week

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The Market returned to its five days trading after the sallah break of last week. It wasn't a great week for the Market even as it climax the end of trading for the month of August.  The Market opened on a negative notes on Monday, however, made a bold return on Tuesday but to frizzle out for the rest of the week with a three days consecutive losses.  The All Share index lost in what seems to be the bear dominated week. The index was down  1.63% to close the week at 34,848.45. This brought the year to date return of the ASI to (8.88%) on the negative side of the number line. The bull had a larger share of the Market though, with a breadth of 3 in favour of the Bulls. However this is little to little to reflect on the overall Market as highly capitalized stocks shed weight.  EQUITY A total turnover of 1.533 billion shares worth N23.026 billion in 17,009 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 968.947 million shares
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