Morning Beats

WAICA Re’s investors to get $2.5 million dividend

WAICA Re has unveiled plans to offer $2.5 million dividend to investors, as the company grew its profit before tax for the financial year ended December 31, 2017, by 28 per cent.Guardian

Lafarge Africa to reduce leverage position with N90b fresh capital

Lafarge Africa Plc has announced plans to raise up to N90billion by way of rights to existing shareholders, subject to all corporate and regulatory approvals.Guardian

Employers warn govts against multiple taxes

The Nigeria Employers’ Consultative Association (NECA) has urged state governments to operate within the ambit of the law by creating an enabling environment for businesses to thrive and continue to contribute to the growth of the nation.Guardian

LPG, kerosene consumer prices drop year-on-year

Consumer prices of Liquefied Petroleum Gas (LPG/cooking gas), and national Household Kerosene dropped year-on-year in tandem with the declining inflation level in the Nigerian economy.Guardian

Improved corporate result lifts NSE indices by N112b

Improved corporate performance yesterday lifted transactions on the equity sector of the Nigerian Stock Exchange (NSE), as most blue chip stocks, especially, Mutual Benefit Assurance, and Seplat appreciated in price, causing market capitalisation to rise by N112billion.Guardian

OPEC output peaks amid outages

The oil output of the Organisation of Petroleum Exporting Countries (OPEC) has risen this month to  it highets as Gulf members pumped more after a deal to ease supply curbs and Congo Republic joined the group.The Nation

Yuan sale by CBN excites traders

The Central Bank of Nigeria sold yuan at a range of N49-51 at its first auction of the Chinese currency last week, traders said yesterday.The Nation

NCC: operators risk losing out to digitalization

The Nigerian Communications Commission (NCC) has warned operators to shape up in order not to lose grip of the market as digitalisation takes centre stage across the world.The Nation

DisCos distributes 93,219 pre-paid meters

Nigerian electricity distribution companies (DisCos) distributed 93,219 prepaid meters between January and March, according to data from the power sector report of National Bureau of Statistics (NBS)The Nation

‘Nigeria’s economy to grow more’

Nigeria’s economy is expected to grow more slowly this year than previously forecast as investors hold off before elections in early 2019, a Reuters poll shown, while Kenyan growth is forecast at more than double the pace.The Nation

W/Bank energy financing in Nigeria, others increase by $7.7bn

In its latest report, the bank stated that 32.1 per cent of its financing had climate co-benefits, already exceeding the target set in 2015 while 28 per cent of lending volume would be climate-related by 2020.Vanguard

Electricity tariff rises by 142% in 10 years

Even with N123 billion Nigerian Electricity Market  Stabilization Fund (NEMSF) provided by the Federal Government as a subsidy to operators in the industry, indications have emerged that the tariff paid by households for power rose to 145 percent in ten years.Vanguard

With seven commissioners, RMAFC can’t form quorum

With only seven commissioners, the Revenue Mobilisation, Allocation and Fiscal Commission cannot form a quorum to take decisions affecting revenue mobilisation and sharing among the three tiers of government, investigation has revealed.Punch

Nigeria targets fresh investments from 15 countries

The Nigeria Investment Gateway, in conjunction with the Infrastructure Concession Regulatory Commission and the National Office for Technology Acquisition and Promotion, among other agencies of government, are targeting fresh investments into the country from about 15 other nations.Punch

FG may inject N300bn into auto industry

The Federal Government plans to inject N300bn into the nation’s vehicle assembly plants as part of measures to accelerate the development of the automotive industry.Punch