Morning Beats

Thai rice poisonous, Ogbeh warns

The Federal Government has issued stern warning against consumption of Thailand rice, saying it is poisonous.The Nation

Customs seizes over N1.3b contraband

Contraband worth over N1.3 billion were impounded between the middle of last month and early this month by the Federal Operations Unit (FOU) Zone ‘A’ of the Nigerian Customs Service (NCS), its Area Controller, Mohammed Uba has told The Nation.The Nation

Firm obtains judgment in loan dispute

A firm, Austin Laz and Company has obtained  judgment against the Bank of Industry (BoI) in a loan dispute.The Nation

Afreximbank plans $1b for trade, infrastructure

The African Export-Import Bank (Afreximbank) has expressed its readiness to work with the Federal Government arrange about $1 billion financing for government’s investments in trade-enabling infrastructure.The Nation

Crypto-currency mining malware wreaks havoc in Africa

Crypto-currency mining malware is wreaking havoc in Africa, an Israeli-based cyber security firm, Check Point, has said.The Nation

Fuel subsidy hits N2.4bn daily

Nigeria may be losing the gains of increases in the international oil prices as the Federal Government subsidy on fuel has risen to N2.4 billion daily in May, from N774 million in March, 2018, also as a result of the high price of crude oil in the international market.Vanguard

Salvic Petroleum boosts production by 75,000bpd

Nigeria’s oil production has received a boost as Salvic Petroleum Resources Limited, an indigenous company, has increased production in its Oil Mining Lease, OML 30, regarded as the country’s second largest onshore oil and gas asset, from zero-level to 75,000 barrels per day, bpd.Vanguard

Low demand haunts Nigeria’s oil as unsold stocks hit 34m barrels

THERE are indications that international oil market is haunted by low demand as unsold Nigerian stocks have been estimated at between 20 and 34 million barrels.Vanguard

$500m Abacha loot: Malami confirms receipt of $370m from Swiss govt

The Federal Government, yesterday, met with top officials of the United Kingdom, United States of America and Jersey to work out the final modalities for drawing down  $500 million Abacha loot frozen by the American government.Vanguard

FTSE 100 drops amid US-China trade tensions

Britain’s top stock index dipped on Monday as trade tensions between the United States and China kept the pressure on equity markets across Europe, weighing on multinational companies.Punch

Rice smuggling: FG to shut border with neighbouring country

The Federal Government stated on Monday that it would shut Nigeria’s land border with a neighbouring country in few days’ time in order to halt the smuggling of rice into the nation.Punch

‘95.28 billion litres of petroleum products imported in four years’

Between January 2014 and December 2017, the country imported 95.28 billion litres of petroleum products such as Premium Motor Spirit (petrol), Automotive Gas and Oil (diesel) and Household Kerosene.Punch

Revenue generation, key weakness for Nigeria – Moody’s

An international credit rating agency, Moody’s Investors Service, has said the key issue for Nigeria will be improving its ability to generate revenuePunch

10,291 manufacturing jobs lost in 2017 – MAN

A total of 5,212 jobs were lost in the manufacturing sector in the second half of 2017, bringing the total for the year to 10,291, a new survey released by the Manufacturers Association of Nigeria has revealed.Punch

At last, Buhari to sign 2018 budget on Wednesday

President Muhammadu Buhari will sign the 2018 Appropriation Act into law on Wednesday.Punch