Morning Beats

LADOL insists 1% free zone charge is statutory

The management of LADOL Free Zone has insisted that all charges levied in the zone are statutory, including the recently referenced one per cent charge.Guardian

‘Proposed five per cent credit facility to MSMEs will stimulate economy’

The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has stated that the proposed five per cent credit facility for Micro, Small and Medium Enterprises(MSMEs) will help to stimulate the economy.Guardian

Dangote refinery to save $7.5bn through import substitution

The construction of the 650,000 barrels of crude oil per day Dangote Refinery is expected to help Nigeria save over $7.5 billion through import substitution.Guardian

C&I Leasing assures investors of dividend payment in 2018

Succour may have come the way of investors of C&I Leasing Plc, as the firm has assured shareholders of dividend payment at the end current financial yearGuardian

NNPC chief urges firms to diversify

The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru, has called on stakeholders in the oil and gas industry to explore other areas to boost economic diversification.The Nation

‘MAPs’ policy ‘ll bridge metering gap’

The new regulation on metering - Meter Asset Providers (MAPs), will bring about huge relief for electricity consumers because it will enable them get meters as quickly as possible.The Nation

Nigeria’s infrastructure stock hits 35 per cent, says expert

THE value of Nigeria’s total infrastructure stock, comprising  road, rail, power, airports, water, telecoms and seaports, has been estimated at 35 percent of the country’s gross domestic product (GDP)The Nation

Nigerian Exchanges unite for devt

Securities Exchanges in Nigeria yesterday launched the Association of Securities Exchanges of Nigeria (ASEN) as a common front to champion the development of Nigerian capital market and the economy generally.The Nation

Settlement banks to keep N15b T-Bills at CBN

The Central Bank of Nigeria (CBN) has asked settlement banks to provide clearing collateral of not less than N15 billion worth of treasury bills for them to perform settlement roles.The Nation

Naira appreciates to N362.08/$ in I&E window

The Naira, yesterday, appreciated to N362.08 in the Investors and Exporters (I&E) window despite  the  49 percent decline in volume of dollars traded.Vanguard

9Mobile: NCC conducts fresh due diligence on preferred bidder

The Nigerian Communications Commission says it is conducting another round of due diligence on the preferred bidder for 9Mobile, Teleology Holdings Limited.Punch

Kachikwu wants NLNG to raise capacity by 60%

The Minister of State for Petroleum Resources, Dr Ibe Kachikwu, has challenged the Nigeria LNG Limited to expand its Liquefied Natural Gas production capacity to 40 million tonnes per annum over the next 30 years.Punch

Operating surplus: Defaulting MDAs may face sanctions

The Minister of Finance, Mrs. Kemi Adeosun, wants sanctions to be imposed on the Ministries, Departments and Agencies of the government that fail to remit their operating surplus appropriately to the Consolidated Revenue Fund.Punch

Flutterwave gets CBN approval for USSD

Nigerian payment technology firm, Flutterwave, has received an approval from the Central Bank of Nigeria for its Unstructured Supplementary Service Data technology product.Punch

Power: ‘70% of revenue losses come from unmetered consumers’

The highest amount of revenue losses in Nigeria’s power sector come from areas that have high concentration of unmetered electricity consumers.Punch

‘Turkey may be locked out of bond market’

The summer holiday in the bond market may be a long one for Turkey.

New dollar issuance, including government and corporate-sector bonds, has dried up, with no sales recorded since April, according to data compiled by Bloomberg.Punch

Pound falls lower against US dollar, euro

The pound has fallen below $1.29 for the first time in almost a year on continuing worries Britain will leave the EU without a trade deal.Punch

Crude prices slump as trade war escalates

Crude dropped to a six-week low as the escalating trade dispute between the world’s biggest economies overshadowed a decline in US crude stockpiles.Punch

China removes US oil from latest import tariffs

China announced on Wednesday retaliatory tariffs on an additional $16bn worth of US imports, including oil products, Liquefied Petroleum Gas and coal in a new list of affected goods but leaving off widely-expected import duties on US crude.Punch