Morning Beats

Fowler: Tax defaulters must pay arrears with interests, penalties

The Chairman, Federal Inland Revenue Services (FIRS), Babatunde Fowler, yesterday said  Nigerians who defaulted in paying their taxes at the expiration of the grace given by the Voluntary Assets Income Declaration Scheme (VAIDS), would pay the outstanding taxes with interests and penalties.The Nation

NCDMB, Waltersmith seal $10m modular refinery deal

The Nigerian Content Development and Monitoring Board (NCDMB) has signed a $10 million equity investment agreement with Waltersmith Refining & Petrochemical Company Limited for the construction of a 5,000 barrels daily modular refinery in Ibigwe in Imo State.The Nation

AfDB shops for $1.2tr to bridge investment gap

The African Development Bank (AfDB) will embark on a roadshow in Abuja next week, to mobilise key stakeholders towards putting together a pipeline of bankable projects ahead of the Africa Investment Forum (AIF).The Nation

‘DisCos sell power at shortfall of N49.38 per kilowatt’

The inability of the power distribution companies (DisCos) to meet their obligations to customers is because they incur huge losses in the market, the Executive (ED) Director, Research and Planning, Association of Nigerian Electricity Distributors (ANED), Mr. Sunday Oduntan, has saidThe Nation

DMO: Nigeria has debt management strategy

The Debt Management Office (DMO) has said Nigeria has a duly approved Debt Management Strategy (DMS). In a statement issued in Abuja yesterday, DMO said the DMS was approved by the Federal Executive Council (FEC) in June 2013 and has an expiry date of December 2019.The Nation

Oil theft increased in 2017, says Shell

Crude oil theft from the pipeline network of Shell Petroleum Development Company Limited (SPDC) increased   from about 6,000 barrels per day (bpd) in 2016 to 9,000 barrels per day last year, the oil giant has said.The Nation

Exports in solid minerals hit N26bn in Q1 2018-NBS

EXPORTS in the solid minerals sector hit N26. 9 billion in first quarter of 2018, as reported by the National Bureau of Statistics, NBS, on total foreign trade.Vanguard

2nd Niger Bridge: FG approves N206bn Anambra, Delta link road

The Federal Executive Council on Wednesday approved the contract for a 11.9-kilometre link road for the Second Niger Bridge.Punch

Manufacturers keen to tap idle electricity as generation wobbles

Manufacturers in the country have expressed the eagerness to tap the unutilised electricity being produced by the nation’s power plants as the available power generation continues to wobble.Punch

FG to introduce new classification for insurance firms

The Federal Government, through the National Insurance Commission, plans to introduce a new classification policy in the industry, the Commissioner for Insurance and Chief Executive Officer of NAICOM, Mr Muhammad Kari, has said.Punch

CBN woos Nigerians to use Chinese yuan for imports

The Central Bank of Nigeria is wooing local businesses importing goods from China to use the yuan instead of the United States’ dollar in its effort to support the naira and boost reserves.Punch

France to invest €1bn in Africa’s private sector

The President France, Emmanuel Macron, has revealed plans to invest €1bn in Africa’s private sector.Punch

Stocks fall further as Forte Oil leads losers

The stock market continued its losing streak on Wednesday, as the market capitalisation of equities listed on the Nigerian Stock Exchange fell for the third straight day.Punch

County workers inch closer to an umbrella pension scheme

Employees working at the 47 counties inched closer to having an umbrella pension scheme after MPs passed a government sponsored bill through its second reading.Business Daily

Analysts gloomy about prospects for demand

Despite indications that the South African economy is strengthening, economists are taking a grimmer view.Business Day