Morning Beats

Power grid loses 1,087.6MW, eight stations shut

Nigeria’s electricity grid witnessed a sharp drop in power generation, losing 1,087.6 megawatts as about eight power stations were forced to shut down operations on Friday and Saturday due to the rupturing of a major gas pipeline.Punch

LASG screens 140 new waste collectors…distributes two million waste bags

The Lagos State Government has screened 140 intending private sector waste managers who will soon join the existing PSP operators to evacuate waste and ensure a cleaner metropolis.Punch

‘Currency swap deal with China’ll expand BDCs’ capacity’

The President of the Association of Bureaux De Change Operators of Nigeria, Alhaji Aminu Gwadabe, has said the currency swap deal between Nigeria and China will expand BDCs’ capacity to handle new business transactions in Chinese currency.Punch

Investors weigh impact of US rate hike

Investors are weighing the possible impact of the increase in the United States’ benchmark interest rate as against expected returns on their investments in Nigeria.Punch

Further decline in inflation rate doubtful — Economists

Economic experts have said a further decline in inflation rate is unlikely, as the forthcoming elections would boost spending, especially by politicians.Punch

Outrageous billing: Electricity consumers seek National Assembly’s intervention

Electricity consumers in Kano have called for the intervention of the National Assembly in the issue of outrageous bills allegedly being served them by the Kano Electricity Distribution Company.Punch

‘Capitalisation to drive banks’ competition’

Coronation Research, a part of Coronation Merchant Bank Group, has said the ability to support risk asset creation in the real sector will differentiate winners from losers in the Nigerian banking industry over the next three years.The Nation

Incentives for Chinese manufacturers

The Kenyan Government has laid out a compendium of investment incentives for Chinese investors in the manufacturing sector as it seeks to attract more investment flow into its rebounding economy.The Nation

Insurers embracing merger, acquisition, says report

INsurers are turning to merger and acquisition (M&A) in their search for profit, a report by A. M. Best has shown.The Nation

Lotus Capital to list N1.49b fixed income fund

LOTUS Capital Halal Investments Limited has received regulatory approval to list its N1.49 billion fixed income fund on the memorandum board of the Nigerian Stock Exchange (NSE).The Nation

Barclays Africa joins NSE in July

Barclays Africa plans to join the Nigerian Stock Exchange (NSE) as a broker in July and is exploring opportunities in three other African countries.The Nation

$48b foreign reserves, forex interventions keep naira stable

The naira will remain stable at both the official and parallel markets with the rise in foreign reserves to $48 billion, and the consistent dollar interventions by the Central Bank of Nigeria (CBN), analysts have saidThe Nation

May & Baker signs sickle cell drug production deal

May & Baker Nigeria Plc has signed an agreement with the National Institute for Pharmaceutical Research and Development (NIPRD) for the commercial production of anti-sickle cell drug, NAPRISAN.The Nation