Morning Beats

FG, AMCON undecided over Arik, Aero Contractors airlines

The Federal Government is at the crossroads in deciding what to do with the duo of Arik Air, and Aero Contractors that are currently being managed by the Asset Management Corporation of Nigeria (AMCON).Guardian

Used clothing as unlikely competition for Nigerian textile manufacturers

For many micro and small businesses who deal in clothing and apparels, second-hand clothes from many developed countries dominate their stalls, except in cases where cheaper materials are imported from Asia or sub-standard materials smuggled from neighbouring countriesGuardian

One arms cache too many, a need for thorough investigation

The recent seizure of a Russian vessel allegedly conveying illegal weapons to Lagos ports, which was intercepted in South Africa, brings to five this year, the number of times items relating to arms, ammunition and other security-related shipment are illegally imported smuggled into Nigeria through various channels.Guardian

‘Why government should increase N300 billion real sector support facility’

Going by the credit gap in the real sector and the need for job creation, local manufacturers have called on the Federal Government to increase the N300 billion allotted for support to the sector.Guardian

NSE’s All-share index appreciates by 0.6 per cent

It was a quick reversal of Monday’s negative sentiments yesterday, following price gains recorded by most blue-chip stocks, the Nigerian equity market as the all-share index appreciated by 0.6 per cent.Guardian

Stockbrokers urge end to destablisation of capital market

Citing the negative impact of unguarded utterances by actors in the political space on the nation’s capital market, the Association of Stockbroking Houses of Nigeria (ASHON) has urged an end to the developmentGuardian

Faltering growth affirms Nigeria’s oil dependence

Just because the nation’s oil sector lost its steam to the tune of four per cent, the non-oil sector, with its impressive 10-quarter high at two per cent, could not deliver the country from the pangs of economic slowdown.Guardian

LCCI hopeful of improved linkages, FDI inflow at 2018 trade fair

With the various reforms it embarked upon, the Lagos Chamber of Commerce and Industry (LCCI) has stated that this year’s edition of the Lagos International Trade Fair (LITF) would increase opportunities for business linkages and inflow of investments into the country.Guardian

CBN auctions $210m foreign exchange

The Central Bank of Nigeria (CBN), yesterday, auctioned $210 million at the inter-bank foreign exchange (forex) market to ensure that global currencies were available for customers.Guardian

Rising crude refining cost justifies need to harness Nigeria’s local capacity

Between 2012 and 2017, the Department of Petroleum Resources (DPR), granted licences to 37 private firms, including the 650,000 barrels per day (bpd) Dangote Refinery Plc, for the establishment of private refineries in the country.Guardian

$3.3bn Egina FPSO has opened Nigeria for more investments, say stakeholders

The $3.3 billion Floating Production Storage Offloading (FPSO) unit that sailed away in the early hours of Sunday from Lagos to the 200,000 barrels per day Egina oilfield has opened new vistas for investments into Nigeria from all over the world, according to stakeholders.Guardian

Fed Govt: No plans to sell NLNG

The Federal Government has no plans to sell the Nigerian Liquified Natural Gas Limited (NLNG), it was learnt yesterday.The Nation

‘High dividend yields make equities attractive’

Low share prices and steady corporate earnings have increased potential returns on investments for investors in Nigerian equities. Investment Banking Group-FSDH Merchant Bank, in its latest report, stated that the dividend yield in the market has increased due to low prices.The Nation

President Buhari commissions N90bn brewery, assures conducive business environment

President Muhammadu Buhari, yesterday, reiterated government’s commitment to ensuring conducive business environment.Vanguard

Nigeria’s national grid increases by 200MW

The Transmission Company of Nigeria, TCN, under its Transmission Rehabilitation and Expansion Programme (TREP) has added about 200 Megawatts to the national gridVanguard