Morning Beats

Local content adoption soars to 28 per cent in seven years

Following the signing of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act in 2010, indigenous participation and domiciliation of oil and gas activities.Guardian

‘Only 2% of Nigerians have access to credit facilities’

Chief Executive Officer (CEO), Dun & Bradstreet Credit Bureaus, based in the Dominican Republic, Miguel Llenas, has bemoaned the low access to credit facility in Nigeria, saying only two per cent of the population can still access bank loans.Guardian

Stock market reopens bearish, index down by 0.06%

Transactions on the floor of the Nigerian Stock Exchange (NSE), reopened on a bearish note yesterday, following price losses incurred by most bluechip stocks, causing the All-share index to dip marginally 0.06 per cent.Guardian

FinTech Company assures Nigerians of stable financial future

Carrot Technologies Limited, a financial technology firm (FinTech) start-up has hinted that there are benefits in the Nigerian insurance market by leveraging technology.Guardian

OOPC sets to return to Stock Exchange, steps up on cashless policy

The Chief Executive Officer, Okitipupa Oil Palm Company (OOPC) Plc., Taiwo Adewole, has announced plans to return the recently revived company to the Nigerian Stock Exchange before year end.Guardian

Apapa gridlock: How poor state capacity stifles competitiveness

In the last few months, or years depending on who you ask, Lagosians have been complaining about the menace of trucks parked on the roads.Guardian

U.S. investors to revitalise NIGERCEM

Ateam of foreign investors from the United States (U.S) yesterday pledged to support both the core investor and Chief Executive Officer, Ibeto Nigeria Limited, Chief Cletus Ibeto and Ebonyi State government to revitalise NIGERCEM.The Nation

FIRS to GE: show evidence of $2m tax remittenace

The Federal Inland Revenue Service (FIRS) has demanded evidence that General Electric International Operations Nigeria Ltd remitted the excessive tax it withheld from Arco Group Plc, a Nigerian oil servicing company, for nine years.The Nation

Asia, Nigeria trade volume hits $7.7b

Nigeria’s trade volume with Asian countries has peaked at about $7.7 billion, the Malaysia High Commissioner to Nigerian,  Gloria Tiwet,  said yesterday in Abuja.The Nation

Naira appreciates to N361.96/$ in I&E window

THE Naira, yesterday, appreciated to N361.96 in the Investors and Exporters (I&E) window. Data from FMDQ showed that the indicative exchange rate for the window dropped marginally to N361.96 per dollar yesterday from N362.67 per dollar last week Friday,Vanguard

New power policy’ll raise tariff by 14% – Discos

The Eligible Customer policy introduced by the Federal Government in the power sector will lead to a 14 per cent increase in the electricity tariff payable by residential consumers across the country, power distribution companies have said.Punch

Provide more credit to consumers, credit bureaux tell banks

Credit bureaux have urged banks to lend more money to consumers in order to accelerate the growth of the nation’s economyPunch

UK stocks flat as trade concerns grow

May & Baker Nigeria Plc grew its profit before tax by 178.76 per cent to N388.90m in the first half of 2018, compared to N139.51m in the same period of 2017.Punch

Power firm deploys 372,728 meters in Abuja, others

A total of 372,728 meters have been deployed in the Federal Capital Territory as well as in Kogi, Nasarawa and Niger states by the Abuja Electricity Distribution Company.Punch

Ease-of-doing-business index: Nigeria’ll climb 45 places, says FG

The Federal Government has said Nigeria will improve its ranking by 45 places in the World Bank Ease of Doing Business Index in the next two years to achieve its goal of attaining the top 100 by 2020.Punch