Morning Beats

$210m forex injection lifts naira

The Central Bank of Nigeria (CBN) yesterday injected $210 million, to meet customers’ requests in various segments of the foreign exchange marketThe Nation

Promasidor gets BoI’s N5.6b loan

Promasidor Nigeria Limited, a leading food company, has secured a N5.6 billion credit from the Bank of Industry (BoI) to support its aggressive expansion programmes.The Nation

CBN’s PMI shows manufacturing expanding

The Manufacturing Purchasing Managers’ Index Survey conducted by the Central Bank of Nigeria (CBN) has shown  56.8 index points, indicating expansion in the manufacturing sector for the 16th consecutive month.The Nation

Equities lose N456b in July despite H1 earnings

Nigerian equities lost N456 billion in July as political risks overshadowed potential corporate earnings in first half.The Nation

‘Shell, NNPC still negotiating $10b Bonga field contract’

Royal Dutch Shell and its partners will decide next year on whether to go ahead with the development of Nigeria’s Bonga Southwest offshore oilfield, it was gathered yesterday.The Nation

Calabar Port idle with shallow water channel

Expectations are high on the Federal Government, particularly the Nigerian Ports Authority (NPA), to dredge the Calabar Port channel, to diversify available infrastructureGuardian

Nigeria’s crude oil production may rise by 180,000bpd next year

Nigeria’s crude oil production is expected to rise further if Royal Dutch Shell and its partners, next year, decide whether to go ahead with the development of the nation’s Bonga Southwest offshore oilfield, a senior company official said on Tuesday.Guardian

Transcorp to begin exploration of oil from OPL 281 in 2019

Transnational Corporation of Nigeria Plc has unfolded plans to convert its Oil Prospecting Licence (OPL) 281 asset (located in Delta state) to Oil Mining Lease (OML) for commercial production by second quarter (Q1) of 2019.Guardian

Call for efficient management of oil subsidy payments intensifies

In a bid to sustain businesses in the downstream sector of Nigeria’s petroleum industry and grow capacity, the need for an efficient settlement system cannot be overemphasized.Guardian

$200m invested in off grid renewable energy

The off grid renewable energy space which most experts describe as the future of the Nigerian power sector have been said to enjoy an investment capacity of up to $200 million in the last few years.Guardian

PMS dominates cargo arrivals at Lagos ports

A total of 12 vessels out of the 29 arriving at the Pilotage District of the Lagos ports yesterday are laden with Premium Motor Spirit (PMS), otherwise known as petrol.Vanguard

Niger Delta: Agip to increase investments owing to improved security

Mr Antonio Vella, the Chief Operating Officer, Upstream, Eni, Nigerian Agip Oil Company (NAOC) says the company is considering doubling investments in the Niger Delta region due to improved security.Vanguard

Shell to build gas line in Abia

Shell Gas Nigeria Limited on Tuesday said that plans were underway to construct a gas line around key industrial areas in Abia.Vanguard

N3.8tn lost to oil theft in 2016 – NNRC

The Nigeria Natural Resource Charter on Tuesday revealed findings of its latest report on crude oil theft and stated that the country lost about N3.8tn as a result of the menace two years ago, which was under the current administration of President Muhammadu Buhari.Punch

NIBSS targets 500,000 agents to boost financial inclusion

The Nigeria Inter-Bank Settlement System Plc has relaunched an e-payment platform, mCASH, targeting 500,000 agents, in a bid to deepen financial inclusion in the country.Punch