Morning Beats

Poor economy may hinder 30% broadband target

Nigeria’s hope of attaining 30 per cent broadband penetration by the end of this year is under threat.Guardian

Stock market investors lose N11billion on trading floor

Continued share price depreciation on the equity sector of the Nigerian Stock Exchange (NSE), yesterday pulled the market capitalisation further down by N110 billion.Guardian

Nigeria connects 93.3 million unique telephone subscribers

Although there are about 240 million telephone connections in Nigeria, with no fewer than 160 million active lines, the country has 93.3 million unique mobile phone subscribers.Guardian

‘Lower purchasing power, fund costs, credit risks challenge economy’

It is not yet over, according to the officials of the International Monetary Fund (IMF), who came to Nigeria on economic assessment, as the touted non-oil sector and consumer purchasing power were rated low, while risks against banks’ lending and interest payment on debts remain elevated.Guardian

CBN auctions $210m at forex market

Central Bank of Nigeria (CBN) on Tuesday injected $210 million into the inter-bank foreign exchange (forex) market.Guardian

U.S. import from OPEC member countries declines by 23,000bpd

The United State (U.S) product imports from the Organisation of the Petroleum Exporting Countries (OPEC) member countries dropped by 23 thousand barrels per day (tbpd) compared to a month before to stand at 301 tbpd.Guardian

Government, NCDMB woo foreign investors to telecom, oil sector

The Vice President, Prof Yemi Osibanjo and the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote and other top Federal Government officials canvassed for foreign direct investment in the Nigeria to over 25 key international players in the Information Communication Technology (ICT) industry.Guardian

Transcorp grows net profit by 161% to N10.9b

Transnational Corporation of Nigeria (Transcorp) Plc recorded impressive growths in turnover and profitability in the first half with net profit rising by 161 per cent to about N10.9 billionThe Nation

IMF: rising risks constrain lending by banks

The International Monetary Fund (IMF) has said the risk associated with lending is limiting the volume of loans being granted by banks.The Nation

Metering: You’re wrong, power distributors reply Fashola

Most of the statements made last week Monday by the Minister of Power, Works and Housing, Babatunde Fashola, about the power sector are false, according to the electricity distribution companies.Punch