Morning Beats

How heavy taxes, harassments hobble telcos

Nigeria has championed the telecom industry to business and political audiences around the world as the next big thing paved with ease of doing business and other government cushions.Guardian

Customs generates N78.78 million revenue in Borno, Yobe

The Nigeria Customs Services (NCS), said it generated about N78.78million in six months in Borno and Yobe states, despite the insecurity situation in the areas caused by Boko Haram insurgency that led to the closure of 10 border stations with Niger, Chad, and Cameroon.Guardian

Stakeholders query corporate governance status of firms’ suspended by NSE

Capital market experts have queried the corporate governance standard operational in the eight listed firms’ recently suspended by the Nigerian Stock Exchange (NSE), for failure to submit their 2017 audited report.Guardian

Investors’ losses hit N244b

There appears to be no end in sight for the reign of bears on the equity sector of the Nigerian Stock Exchange (NSE) as major highly capitalized stock continued to record price depreciation, causing investors’ wealth to plunge further by N244 billion in four trading days.Guardian

Nigeria, others to spend $105b on oil, gas decommissioning

Nigeria and other oil producing countries across the world will expend about $105b on decommissioning in the next 10 years.Guardian

‘600,000 jobs lost in fishing sector’

No fewer than 600,000 indirect jobs have been lost in the fishing sector due to lack of regulation and sea robbers in the last two decades. Also, some facilities, equipment and infrastructure worth billions of dollars are rusting away at various fishing jetties due to the harsh operating environment and pirates on the waters.The Nation

Unemployment: Push to reverse jobless growth

Nigeria’s population is projected to hit 410 million by 2050. This will rank her as the world’s third largest populated country. Experts say there is no better time than now for federal and state governments,The Nation

Equities continue slide with N101b loss

Nigerian equities continued on the downside yesterday as investors lost N101 billion to capital depreciation.The Nation

AMCON debtors getting bolder, says Kuru

Reps seek quick passage of AMCON Bill The Managing Director/Chief Executive Officer of Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru has said the corporation needs legal support as its debtors are getting bolder by the day and employing all kinds of tricks to tie the corporation up in court.The Nation

Egyptian firm eyes Nigerian capital market

Acquires stockbroking firm EFG Hermes, a leading financial services corporation in frontier and emerging markets, plans to set up operations in Nigeria to further drive its global expansion.The Nation

‘Nigeria requires $300m for national carrier’

Nigeria’s new national airline will require initial capital of between $150 million and $300 million (aboutN108.2billion) while the government is seeking a strategic partner to operate the carrier, an official document reveald yesterday.The Nation

Wema Bank to issue N20b debt

Wema Bank plans to issue N20 billion of debt in August to boost its capital adequacy, its acting chief executive said yesterday.The Nation

FMDQ lists Dangote Cement’s N50bn commercial papers

FMDQ OTC Securities Exchange yesterday listed Dangote Cement Plc’s N50 billion commercial papers, CPs, the biggest CP programme so far on the Nigeria debt capital market on its platform.Vanguard

FAAC overpaid states N10bn in bailout funds — Auditor-General

The Federation Accounts Allocation Committee (FAAC) N10 billion in excess to states while sharing bailout funds in 2016, according to the annual report of the Auditor-General of the federation obtained by The Cable.Vanguard

Naira down to N361.91/$

The Naira, yesterday, depreciated by 22 kobo to N361.91 per dollar in the Investors and Exporters window.Vanguard

Cement’ll play key role in infrastructural development – Osinbajo

Cement has been positioned to aid Nigeria’s infrastructural development in a very significant way.

Vice-President Yemi Osinbajo hinted at this fact while speaking during the inauguration of $350m BUA Cement and coal powered plants in Sokoto State on Tuesday.Punch