Morning Beats

Commission urges investors to regularise multiple accounts

Acting Director General, Securities and Exchange Commission (SEC), Ms. Mary Uduk, has enjoined capital market investors that bought shares with different namesGuardian

‘Why Nigeria’s gas sector development may remain elusive’

The Nigerian gas sector outlook may remain bleak if lingering challenges, especially unfavourable regulatory framework and poor monetary policies are not addressed.Guardian

Stock market investors lose N125billion in three days

For the eighth consecutive time, equity market sustained sliding profile as virtually all the blue chip stocks recorded price depreciation yesterday, as investors lose N125billion in three trading days.Guardian

‘Upstream projects getting back on track after oil price slump’

Industry research group, Wood Mackenzie (Woodmac) has said emerging signs of improved execution suggest companies are getting it right after a period of dismal performance on upstream oil and gas projects.Guardian

FG yet to decide Nigeria Air’s partners, final bidders

Federal Government yesterday said technical partners for the new national carrier were yet undecided, as the bidding process, among others, were still ongoing.The disclosure was in response to a report that one of the bidders, Ethiopian Airlines (ET), was in the lead to win the bid.Guardian

Nigeria inflation dips 18th time to 11.14%

Nigerian inflation declined for the 18th consecutive time 11.23 per cent in June to 11.14 per cent in July, 1.28 per cent points below Federal Government's projection.The Nation

‘Refining wax for import substitution coming’

The Executive Secretary, Petroleum Technology Development Fund (PTDF), Dr. Bello Aliyu Gusau, yesterday said a researcher funded by the Fund has discovered a petroleum refining wax for import substitution.The Nation

Firms invest N5tr in meter manufacturing

PRIVATE firms have  invested $16 billion (about N5 trillion) in meter manufacturing, Acting President Yemi Osinbajo has said. Hailing the investors for the gesture, he said the investments would trigger economic growth.The Nation

Emefiele, Elumelu, IMF Chief, others for FMDA confab

The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, Chairman, UBA, Heirs Holdings and Transcorp, Tony Elumelu and International Monetary Fund (IMF) Country Chief, Amine Mati  are among the dignitaries who have confirmed their attendance at  the 2018 Financial Markets Conference of the Financial Markets Dealers Association (FMDA).The Nation

LADOL invests over $500m, says ED

Lagos Deep Offshore Logistics Base (LADOL), an industrial free zone and logistics base, located in Lagos, has spent over $500million on facility development in the free zone, including a fabrication yard, its Executive Director and Head of Business Development, Jide Jadesimi, has said.The Nation

August bond auction oversubscribed by N10.09bn, says DMO

The Debt Management Office (DMO) said the Federal Government’s bond auction for August conducted on Wednesday was oversubscribed by N10.09 billion.Vanguard

TCN cancels non-performing electricity transmission contracts

The Transmission Company of Nigeria on Wednesday declared that it had cancelled many non-performing electricity transmission contracts.Punch

Refineries: PTDF to stop importation of refining catalysts

The Petroleum Technology Development Fund is working with engineers and researchers to halt the importation of catalysts used in refining crude in Nigerian refineries.Punch

Fashola, power firms’ row threatens meter rollout

Despite the recent declaration by the Minister of Power, Works and Housing, Mr Babatunde Fashola, power distribution companies have failed to agree that the responsibility of providing meters to customers still lies with them.Punch

Currency swap deal’ll prevent substandard products importation — CBN

The Central Bank of Nigeria on Wednesday said it was not possible for any importer to bring in substandard products into the country under the currency swap agreement recently signed with the People’s Bank of China.Punch

FG increases Enugu-Onitsha road contract sum by N5.4bn

The Federal Executive Council on Wednesday approved the increase of the cost of the rehabilitation of Enugu-Onitsha road by N5.4bn.Punch

MTN Nigeria signs N200bn loan agreement with 12 banks

MTN Nigeria on Wednesday signed a seven-year N200bn medium-term loan facility with a consortium of 12 banks, with FBN Quest acting as the facility agent.Punch

Kainji, Jebba power plants attain 922MW generation capacity

The cumulative power generation capacity of Kainji and Jebba Hydro Power plants has increased from 582 megawatts to 922MW.Punch