Morning Beats

Why multinationals, IOCs defy listing on NSE

An IPO is the first time that the stock of a private company is offered to the public. Smaller, younger companies seeking capital to expand often issue IPOs, but this can also be done by large privately owned companies looking to become publicly traded.Guardian

Buhari to commission $250m International Breweries in Ogun

President Muhammadu Buhari will on Tuesday, next week inaugurate the $250million state-of-the-art International Breweries in Ogun State.Guardian

NNPC, others sign pact to develop Bayelsa state’s oil communities

The Nigerian National Petroleum Corporation (NNPC) and FIRST Exploration and Petroleum Development Company Limited (FIRST E&P) Joint Venture have signed a Global Memorandum of Understanding (GMoU) with KEFFES Rural Development Foundation (KDRF) to better the lot of host communities in Bayelsa State.Guardian

‘Buhari should woo Chinese investors to fix power sector during Beijing visit’

One of Nigeria’s leading industrialists and chairman, Blue Diamond Logistics, Mr. Festus Mbisiogu, has urged President Muhammadu Buhari to make good use of his scheduled visit to China to fully engage investors in the Asian nation to become active in Nigeria’s power sector.Guardian

Power sector ‘lost N324.3b’ in eight months

New data from the advisory power team in the office of Vice-President Yemi Osinbajo has shown that the power sector has lost N324.3bilion this year, due to gas constraints and poor distribution networkThe Nation

Two categories of insurance brokers coming

The National Insurance Commission (NAICOM) is preparing to categorise insurance brokers into corporate broker and partnership broker with licensing fees of N5 million and N3 million respectively.The Nation

Nigeria capital imports dip by $79m

Data made available by the National Bureau of Statistics (NBS) show that the total value of capital imported into the country in the second quarter (Q2) of the year stood at$5.5 billion.The Nation

Mainstream Energy eyes 1,300Mw of power from Kainji, Jebba

Mainstream Energy Services Limited (MESL) has increased its generation from 542 megawatts (Mw) to 922Mw and plans to increase it to 1,300Mw.The Nation

Monetary policy, forex interventions keep inflation rate low

For 18 months running, headline inflation has continued to dip, thanks to measures introduced by the Central Bank of Nigeria (CBN).The Nation

Nigerian crude oil sells slowly amid oversupply

The number of unsold Nigerian crude oil cargoes has reduced as buying interest picked up on Wednesday.Punch

We’ve capacity to distribute 6,288MW of electricity — Discos

Power distribution companies say they have capacity to take and distribute 6,288.96 megawatts of electricity, refuting the Federal Government’s claim that the Discos can only handle 5,000MW.Punch

We’ve deployed 7,746 meters in 2018 —EKEDC

Eko Electricity Distribution Company says it has provided 7,746 meters to its customers this year.Punch

Oil price rises above $74 as supply tightens

The global oil benchmark, Brent crude, hit a two-week high above $74 a barrel on Wednesday as an industry report showing a sharp drop in US crude inventories and US sanctions on Iran pointed to tighter supplies.Punch

Nigeria’s oil revenue hits $26bn in seven months

Following the rally in global crude oil prices, Nigeria has recorded a significant increase in oil export revenue as the country earned an estimated $26bn in the first seven months of this year.Punch