In the news: CBN sees further growth in economy

In the news: CBN sees further growth in economy

Punch

NNPC to shut refineries for maintenance

The Nigerian National Petroleum Corporation will soon shut down three of its four refineries, according to the Group Managing Director, Dr. Maikanti Baru, has said.

BEDC, others sign MoU on 20MW power plant

The Benin Electricity Distribution Plc has announced the signing of a Memorandum of Understanding with Thames Energy Limited and the Delta State Government on the construction of a 20 megawatts power plant in the area.

Food/beverage stocks appreciate by 1.14%, market gains N23bn

Food/beverage stocks soared by 1.14 per cent on Wednesday, thus emerged the top-performing stocks as the Nigerian Stock Exchange capitalization appreciated by N23bn.

Naira weakens to 367/dollar

The naira weakened to 367 per United States dollar at the parallel market on Wednesday, after closing flat at 365/dollar in the past one week.

No lifting from Lagos oil field in Q2 – Report

One of the joint venture partners in Aje field, offshore Lagos, said there was no oil lifting from the field in the second quarter of this year.

The Nation

CBN sees further growth in economy

As the country exits recession, the Central Bank of Nigeria (CBN), said the economy will continue to improve in the days and years ahead.

NBS: Nigeria’s Q2 merchandise exports hit N3b

The National Bureau of Statistics (NBS) said  Nigeria’s total export value stood at N3,102 billion in the second quarter, representing a marginal increase over the first quarter.

Nigeria to undertake over 50% fabrication, integration in IOCs’ projects

About 50 per cent of the fabrication and integration of topsides of the floating, production, storage and offloading (FPSO) vessels of Nigerian Agip Exploration Limited (NAE)’s and Shell Nigeria Exploration and Production Company (SNEPCO)’s Zabazaba deepwater project and the Bonga South West Aparo (BSWA) deepwater project will be done by Nigerians.

This Day

Dangote Cement Confirms Bid for PPC of South Africa

Dangote Cement Plc, which is the most capitalised company listed on the Nigerian Stock Exchange (NSE), confirmed that it plans to acquire the entire share capital of PPC Limited-South Africa’s leading cement firm.

Nigeria to Ban Importation of Dirty Petrol, Diesel December 1

Nigeria, Togo, Ivory Coast and Benin Republic are expected to implement rules banning imports of petrol and other products with high sulphur content from December 1, 2017, after missing earlier deadlines.

Guardian

Oil production dips to 1.3mbd over vandalism, says NNPC

An average of 700,000bpd of crude oil was deferred in 2016 due to pipeline sabotage, this brought Nigeria’s production down to as low as 1.3 million barrels per day from 2.2 million barrels targeted for the period.

Quality credit data management needed to tackle over N2tr NPLs

With over N2trillion of non-performing loans (NPLs) in the nation’s financial services sector, stakeholders have advocated the promotion of effective credit risk operations through the deployment of quality and robust credit data management.

Reuters

Nigeria unlikely to join OPEC cuts before March -oil minister

Nigeria is very unlikely to join OPEC’s cuts in oil production before March, its oil minister said on Wednesday.

Nigeria’s oil production at 1.6 mln bpd excluding condensates –minister

Nigerian oil production, excluding condensates, is running at 1.6 million barrels per day (bpd), the country’s oil minister said on Wednesday.

Nigeria to sell 917.14 bln naira of bills from Sept 14 to Nov 30

Nigeria plans to sell 917.14 billion naira worth of treasury bills between Sept. 14 and Nov. 30, a central bank debt calendar for the fourth quarter showed on Wednesday.

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Source: Blog

More than just “Baby Blues”

More than just “Baby Blues”

Jeff stared at Mabel from behind the curtains. The baby had been crying for a while but Mabel sat there looking into space unperturbed.

Scared, confused and angry, Jeff stormed into the room and snapped at her “Babe, can’t you see David has been crying for too long?” Mabel looked at him with sad eyes, picked the baby and shoved him into Jeff’s arms before walking away.

David was born barely one week earlier and Mabel had never been the same since her return from the hospital. For someone that couldn’t wait for the birth of her baby, Mabel’s attitude scared Jeff. He felt like she hated her own child. He felt like his wife was possessed by some demon.

But what Jeff didn’t know was that his wife Mabel suffered from Post-Partum Depression and needed help and support.

Post-Partum depression (PPD) is a type of mood disorder associated with childbirth and studies show that 1 in 7 women experience this disorder. It also doesn’t just affect first time mums.

Along with postpartum depression, some women experience a rare and serious form of mental illness known as Post-partum psychosis. When a woman gets to this extent, she can cause grievous harm to herself and her baby if left unchecked.

As real as this disorder is, a lot of women have been called names and worse in Nigeria for feeling this way after they have had a baby. But this feeling is beyond their control and they need immediate help.

Husbands are in the best position to offer support and seek help for their wife if she has this disorder. But first, you need to know how to detect Post-partum depression.

Tune in to ARM Life Living Benefits show today on Smooth 98.1FM by 6.40pm (Lagos), 6.45pm (Abuja) and 6.00pm (PortHarcourt) to learn all the symptoms of Post-partum depression and what to do when you spot them.

There is also a gift voucher up for grabs at the end of the show. You don’t want to miss it!

 

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Source: Blog

In the news: Naira dips to N367 amid dollar scarcity

In the news: Naira dips to N367 amid dollar scarcity

Punch

FG to spend N100bn Sukuk fund on road infrastructure – DMO

The N100bn targeted by the Federal Government from the Islamic bond, Sukuk, will be spent on critical road infrastructure across the country, the Debt Management Office has said.

Budget: Low revenue generation threatens funds release

The Federal Government on Tuesday said that the low revenue generation by its Ministries, Departments and Agencies was affecting the implementation of the 2017 budget.

Arik share value already eroded – AMCON

The Asset Management Corporation of Nigeria has laughed off the suit instituted by shareholders of Arik Air against the Federal Government and Ethiopian Airlines over purported talks to rescue the troubled carrier.

Aiico, Flour Mills, Nestle top losers, market sheds N63bn

Aiico Insurance Plc, Flour Mills Nigeria Plc, Nestle Nigeria Plc, Continental Reinsurance Plc and Linkage Assurance Plc emerged the top five losers at the close of trading on the floor of the Nigerian Stock Exchange on Tuesday, as equities depreciated by N63bn.

Vanguard

Oil price hits $54.25 p/b as OPEC predicts high demand, market stability

The price of crude oil has stabilised at $54.25 as the Organisation of Petroleum Exporting Countries, OPEC, predicted increased stability of the market, yesterday.

FG to award 80% of crude lifting to NNPC

The Federal Government has disclosed its plan to allocate 80 percent of crude lifting to Nigerian National Petroleum Corporation, NNPC Trading, an arm of the Corporation which evolved from the merger of its trading companies.

Militants ask FG to release licenses for 10 modular refineries

Reformed Niger Delta Avengers, RNDA, and nine other militant groups have called on the Federal Government to issue 10 licences to the Host Communities of Nigeria, HOSTCOM, for the take-off of modular refineries in the Niger Delta.

Nigeria oil will no longer be profitable soon – Osinbajo

Vice President Yemi Osinbajo, yesterday in Ondo State declared that the country’s oil will no longer be profitable in no distant future.

This Day

FG, States’ Public Debt Stock Hits N19.6tn

Nigeria’s public debt stock for both the federal government and the states as at June 30 stood at N19.63 trillion, a report by the Debt Management Office (DMO) has revealed.

States Netted N820.7bn in IGR in 2016

Internally Generated Revenue (IGR) of most states in Nigeria rose by 20 per cent to eventually settle at N820.7 billion in 2016, despite the significant contraction in the economy, the Nigeria Governors’ Forum (NGF) disclosed Tuesday in Abuja.

Guardian

Discos blame government for rejection of allocated electricity

The electricity distribution companies have blamed the Federal Government for their rejection of loads allocated to them, a situation that is worsening the poor power supply in the country.

Nigeria requires $16.5bn to achieve 40bn barrels oil reserves target

To achieve the set target of 40 billion barrels crude oil reserves by 2020, the hydrocarbon industry will require between $13 and $16.5billion over the next five years, the Chief Operating Officer, Gas and Power, Nigerian National Petroleum Corporation (NNPC), Saidu Mohammed, has said.

DPR strategises to recover outstanding FG’s revenues

The Department of Petroleum Resources (DPR) is set to roll out some digitalization programme to fully automate all critical operations of the organization, enhance efficiency of all its regulatory deliverables and accelerate recovery of all outstanding revenues due to government.

Operators lose 4m subscribers in one month

Although the telecommunications sector added about N1.5trillion to Nigeria’s economy in the second quarter (Q2), growth of the service providers however contracted.

The Nation

Naira dips to N367 as dollar scarcity hits BDC

The value of the naira against the dollar is declining as bureaux de change (BDC) operators say the US currency is getting scarce in the parallel market.

Why Nigeria’ll resist oil cut – Kachikwu

Nigeria will resist any attempt to curb its oil production, the Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu, has said.

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Source: Blog

How can I turn my FOMO into JOMO?

How can I turn my FOMO into JOMO?

Last month, we talked about F.O.M.O (Fear of missing out) and how to know if this fear is consuming you. This month, we’ll guide you with tips to channel your F.O.M.O into J.O.M.O (Joy of missing out).

Here are a few tips on how to harness your inner J.O.M.O

 

  1. Be grateful. Learn to value what you already have. Take time out to appreciate the people and things around you; imagine what life would be without them? Being grateful for what you already have leaves you feeling content. You will no longer crave for what others have that you don’t.

 

  1. Social media is not real life. You never really know how someone is feeling behind their tweets or Snapchat stories. Use social media to make real connections with people. Look past all the banter on social media (which are really hilarious by the way) and use social media to do something meaningful.

 

  1. Pick up new habits to distract you from social media. Try investing for instance. I know you’re probably thinking “Finally they’ve gotten to the point where they try and sell me their product” Well the answer is yes and no. Yes, we might be trying to sell our services to you. But no, that isn’t the point. You’d be surprised how much money your money could be making for you. Of course there are other habits you could pick up that would harness your JOMO. But there is nothing as relaxing as making money; and investing offers you a chance to do this easily. You’re able to transition from FOMO which cause you to spend recklessly to JOMO by investing and actually making more money.

 

  1. Find your niche in the social world and focus on that. Try and figure out what fun things you enjoy doing the most and make it the norm to do these things more regularly. For instance, let’s say you enjoy going to the club regularly and your pockets aren’t deep enough to do this as regularly as most “cool people” do. You can pick your favorite places to hang out at and frequent them once in a while. You will look even cooler for being selective and you’re saving money too! Do things because you want to do them and can afford to do them; not because it’s what other people are doing.

Yes we know JOMO sounds a bit weird, but so does FOMO – and it’s in the dictionary! Try saying it a couple more times and it might not sound as bad. You don’t even have to put a name to it. As long as it’s anti-FOMO, you’re good to go. So, the next time you see a post on social media, don’t feel left out; remember that you need to cut your coat according to your cloth! Focus on the positives and not the negatives.

Oh, and don’t forget to pick up investing as a habit.

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Source: Blog

Life drops from my kitchen tap

Life drops from my kitchen tap

My kitchen tap is perhaps the most used tap in the entire house. Hence, when I noticed it did not completely stop running after I turned it off, I was not bothered. What can a few inconsistent drops of water really do in the scheme of things?

Until a few days later when the water tank emptied much quicker than expected. Is it possible that those inconsistent drops had an effect? To double check, I left an empty bowl under the closed tap and went off to work. I was beyond surprised to find the bowl full and running over. Little drops of water indeed make a mighty ocean.

The little episode at the tap got me thinking about the little drops of many things I had disregarded over time. Like the little drops of money I had squandered on unnecessary things, like that time I got aso-ebi for a wedding I was not even attending.  Or my weekly movie ritual, totally convinced 2000 Naira cannot turn around the economy of my life.  Or the little drops of valuable time I had wasted all those months I refused to save, assuring myself that not saving this month will not change anything.

It hit me that if my closed tap could produce enough water to fill an empty bowl over time, I can squeeze out funds to save regardless of the hardness of the times. A closed tap is dry, just like the current financial climate is. With consistency, I can meet my financial goals regardless of the times.

I could not leave room for excuses or happenstance, I immediately set up a direct debit to my Money Market Fund. Direct debit will help me save consistently. The amount I have stipulated will automatically be transferred from my bank account to my Money Market Fund every month on the date I specified. No more procrastination, no more excuses, welcome consistent saving.

What are your financial goals? Get closer to achieving them by setting up a direct debit order. A direct debit order is a sure way to ensure nothing interrupts your savings plan.

Click here to talk to a financial advisor.

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Source: Blog

CBN’s Volte-face narrows FX markets premium

CBN’s Volte-face narrows FX markets premium

In our H1 17 Strategy Report, we noted that the CBN could maintain its hard peg on the naira at N305/$ as higher oil receipts and proceeds from FG’s planned external borrowings bolster FX reserves. Unsurprisingly, following a strong rise in the nation’s reserves (+17.1% over H1 17 to $30.3 billion), the

CBN raised its dollar sales towards the end of February. This, together with the creation of new FX windows and relaxation of some stringent policies, lowered dollar demand at the parallel market.

Against this backdrop, the premium between the interbank and parallel market contracted to a 20-month low at the end of June even as the once-elusive portfolio flows began to trickle in. Overall, whilst CBN’s stringent FX policies had hitherto been “a kiss of death” to the currency market, which forced turnover to a record low, its eventual liberalisation policies appears to be springing the market back to life.

Fiscal nod hastens FX policy reversal

Following the instating of a N305/$ currency peg at the interbank in September 2016, the naira

held steady fairly around what was prescribed over the first half of the year. At the parallel market however, it remained feebler—falling to a record low of N520/$ in February (December 2016: N490/$) before rebounding in succeeding months. The naira depreciation in the earlier part of the year reflected lower FX liquidity (FX turnover fell to a record low of $1.4 billion in January) as CBN, in response to 2016 shocks to oil receipts, placed emphasis on dollar demand management.

Later on though, following the widening of FX market premium between interbank and parallel market to a post-floatation high of 70%1 and improvement in foreign reserves, the CBN made a U-turn with regards to its currency policies. Particularly, the apex bank created a special FX window for invisibles (i.e. personal and business travel allowance, medicals, school fees), wherein permissible users obtained FX at a concessionary rate of N375/$ which reduced demand pressures at the parallel market. In addition, the CBN relaxed the preferential FX allocation to manufacturing companies and reduced the tenor on its currency forward contracts to 60 days (vs. 180 days previously).

The impact of these measures, as well as a two-fold MoM jump in dollar sales to BDCs to a fourteen-month high of $89 million in February, underpinned a 9.5% MoM appreciation in the naira to N450/$ at the end of February. Interestingly, the policy pronouncement came a working day after the National Economic Council mandated the apex bank to take actions to stem widening parallel market premiums.

The CBN shift also followed the transfer of more executive powers to the Vice President, Professor Yemi Osinbajo, a supporter of greater NGN flexibility relative to the, then, absent President Buhari who opposed naira weakness and advocated for dollar demand curtailment. Overall, the steeper naira gain (+11% MoM to N385/$) occurred in March following an upsurge in CBN dollar sales (doubled MoM to $1.2 billion) and adjustment to the FX offer rate to both BDCs and invisibles FX window to N360/$.

 

View full July 27th Nigeria Strategy Report here

 

 

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Source: Blog

In the news: N4.75tn pension funds invested in FG bonds

In the news: N4.75tn pension funds invested in FG bonds

This Day

NNPC Massively Stockpiles PMS to Sustain Price Crash

A daily record of operations of the Nigerian National Petroleum Corporation (NNPC) has disclosed the corporation’s plans to sustain the petrol pump price crash it started last week with a healthy build-up of stocks.

FG, IOCs Finalise Evaluation of Bids for $13.5bn Zabazaba Deepwater Project

The federal government, Nigerian Agip Exploration Limited (NAE) and Shell Petroleum Exploration and Production Company (SNEPCo) have completed the technical and commercial evaluation of bids for the main packages in the development of the $13.5 billion Zabazaba deepwater oil field in Oil Prospecting Lease (OPL) 245 within 14 months.

FG August N135 Billion Bond Fails with 41.5% Subscription

The federal government’s N135 billion bonds issued by the Debt Management Office in August was 41.5 per cent subscribed as the agency could only raise N56.05 billion from the auction.

CBN Pledges to Sustain Intervention in Forex Market

The Central Bank of Nigeria (CBN) at the weekend assured members of the public of its continued intervention in the interbank foreign exchange market in order to sustain liquidity and stability in the sector.

CBN Enforces Migration of Banks to Electronic Capital Importation Certificate

Desirous of enhancing foreign investment flow into the country, the Central Bank of Nigeria (CBN) has directed banks and other authorised dealers to immediately commence the issuance of electronic Certificates of Capital Importation (eCCI) with effect from today.

Kaduna Electric Dismisses Load Rejection Claim

Kaduna Electric has described as “factually incorrect”, the recent media report attributed to the Transmission Company of Nigeria (TCN) that it was rejecting power allocated to it for distribution to its customers.

Guardian

Financial stocks lift NSE’s turnover by N17.5bn

Heavy transactions in the shares of some banks last week, lifted the volume of shares traded, as a turnover of 887.024 million shares worth N17.450billion was recorded in 16,955 deals by investors on the Exchange.

Poor electricity supply may persist as Discos reject 1000mw daily

It may take a longer time for the country to overcome its electricity supply challenges as the distribution companies (Discos) reject generated energy from power plants.

Fresh pressure on Nigeria over oil production cut as OPEC meets

The pressure on Nigeria to reduce its crude oil production figure of 1.8 million per day is expected to increase as the Organisation of Petroleum Exporting Countries (OPEC) meets on Friday, September 22, 2017 in Vienna, Austria.

Stockbrokers canvass easier access to ASeM Board for SMEs

Capital market stakeholders have urged regulators to make the listing requirements for accessing the Alternative Securities Market (ASeM) less stringent to attract more small and medium enterprises (SMEs) participation on the platform, and grow the primary market segment of the Nigerian Stock Exchange (NSE).

Punch

FG, states borrow N7.51tn under Buhari

The Federal Government under President Muhammadu Buhari and the 36 states of the federation as well as the Federal Capital Territory have borrowed N7.51tn in the last two years, statistics have revealed.

Arik shareholders sue FG, Ethiopian Airlines for N20bn

Shareholders of Arik Air Limited have filed a N20bn suit against the Federal Government and Ethiopian Airlines over recent claims of negotiations between them for the takeover of the airline.

N4.75tn pension funds invested in FG bonds, securities

About N4.75tn of the total funds under the Contributory Pension Scheme has been invested in the Federal Government’s securities.

Vanguard

CBN to step up liquidity mop up as N333bn hit interbank

The Central Bank of Nigeria (CBN) will this week step up its liquidity mop-up in a bid to offset impact of N333 billion inflows into the interbank money market.

Stanbic IBTC attracts N413.62bn capital inflows in H1

Stanbic IBTC Plc facilitated $589.84 million, an equivalent of N216.47 billion, capital inflow into the country in the second quarter, Q2, 2017, ranking it first among financial institutions that imported capital into Nigeria.

The Nation

TCN gets $1b for expansion, others

The Transmission Company of Nigeria (TCN) has secured about $1 billion from multilateral donors, including the government of Japan, to expand and rehabilitate its facilities.

Ship import dips to N319b on forex scarcity

Importation of vessels to Nigeria has dropped from N774billion ($2.15billion) in the last two years to N319 billion ($885.9million) due to scarcity of foreign exchange (forex).

Reuters

Venezuela oil minister says inventories still too high

Venezuelan oil minister Eulogio Del Pino on Friday said global oil inventories remain too high and called on OPEC and other producers to review their global output reduction pact in order to support the sector.

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Source: Blog

5 signs it’s a phishing email

5 signs it’s a phishing email

As the year winds to a close, it is important that safety and security are prioritised, especially as regards activities in the online space. This year witnessed massive retrenchment and an increase in the number of unemployed youths. Idleness, coupled with the ease of internet access and technological know-how makes cyber-crime attractive.

To help you protect yourself from internet fraudsters and information hackers, we have identified five easy pointers that will enable you to recognise phishing emails.

  1. If the attachment looks funny

Look out for the attachment title, if it is not coherent or connected to anything related to you, it is best to leave it unopened. As much as possible, only open attachments from email addresses you are familiar with.

  1. If it contains urgent or threatening language in the subject line

Corporate organisations are usually cautious in their communication. If the subject line appears threatening or demands that you take an action immediately, it could be a phishing email, approach it with caution.

  1. If it is asking for personal information

Banks, Investment companies and other regulated organisations will never request for personal information such as ATM card pin, internet banking code and the likes. If the email is requesting for such sensitive information, it is most likely fraudulent.

  1. If it contains grammatical errors and other mistakes

Corporate organisations value their brand and reputation. Official communication is thus proofread repeatedly before it is sent out. If the email contains blunders, it is probably from a fraudster in the corner of his room.

  1. If it is mandating you to click on a link

While official emails might contain genuine links, the content will most likely be spelt out in the URL. Where a mail mandates that you open a  link with that is wrongly spelt, there is a huge possibility that it is a phishing email.

The post 5 signs it’s a phishing email appeared first on Realising Ambitions.

Source: Blog

Much ado about meetings…

Much ado about meetings…

If you have ever had to work with any number of people, the subject of meetings can’t be strange to you. You have probably had so many meetings today and may still have a number to look forward to. Often, it looks like there is no end and no point to meetings, still attend you must. Meetings can constitute a problem as they essentially waste precious time which could have been invested in actual work.

Tired of endless meetings? These tips by Seth Godin might be just what you need.

Getting serious about your meeting problem

If you’re serious about solving your meeting problem, getting things done and saving time, try this for one week. If it doesn’t work, I’ll be happy to give you a full refund.

  1. Understand that all problems are not the same. So why are your meetings? Does every issue deserve an hour? Why is there a default length?
  2. Schedule meetings in increments of five minutes. Require that the meeting organizer have a truly great reason to need more than four increments of realtime face time.
  3. Require preparation. Give people things to read or do before the meeting, and if they don’t, kick them out.
  4. Remove all the chairs from the conference room. I’m serious.
  5. If someone is more than two minutes later than the last person to the meeting, they have to pay a fine of $10 to the coffee fund.
  6. Bring an egg timer to the meeting. When it goes off, you’re done. Not your fault, it’s the timer’s.
  7. The organizer of the meeting is required to send a short email summary, with action items, to every attendee within ten minutes of the end of the meeting.
  8. Create a public space (either a big piece of poster board or a simple online page) that allows attendees to rate meetings and their organizers on a scale of 1 to 5 in terms of usefulness. Just a simple box where everyone can write a number. Watch what happens.
  9. If you’re not adding value to a meeting, leave. You can always read the summary later.

This is all marketing. It’s a show, one that lets your team know you’re treating meetings differently now.

 

The post Much ado about meetings… appeared first on Realising Ambitions.

Source: Blog

In the news: FG targets N100bn from Islamic bond

In the news: FG targets N100bn from Islamic bond

Punch

Why Nigerians haven’t felt impact of exit from recession – NBS boss

The Statistician-General of the Federation and Chief Executive, National Bureau of Statistics, Dr. Yemi Kale attributed the non-impact of the exit from recession on the citizens to the structure of the economy, which is still largely driven by oil.

FG offers tax holidays, duty waivers to mining investors

The Federal Government has offered tax holidays and duty waivers on imported mining equipment to foreign investors in the nation’s mining industry.

Budget: FG targets N100bn from Islamic bond, sukuk

The Federal Government will today (Thursday) commence activities preparatory to the issuance of N100bn non-interest bearing Islamic bond, better known as sukuk.

Naira closes at 365/dollar despite CBN interventions

The naira closed at 365 per United States dollar at the parallel market on Wednesday, the same rate it closed on Tuesday despite the Central Bank of Nigeria’s injection of $250m in the foreign exchange market on Tuesday.

Crude oil price rises to four-week high

Oil futures extended a rise on fears of potential damage to the United States oil production from Hurricane Irma, as well as renewed demand for crude from restarted refineries in the Gulf Coast.

Guardian

Guinness, Redstar others lift NSE’s indices by N71b

Following price gains recorded by most blue chip companies, during transactions on the trading floor, the Nigerian Stock Exchange (NSE) closed in an upbeat yesterday, as market capitalization appreciated by N71billion.

Total, Greenville float virtual pipeline to boost domestic gas supply

Total Exploration and Production Nigeria Limited (TEPNG), and Greenville Oil and Gas Limited have floated an initiative that will process raw gas into domestic Liquefied Natural Gas (LNG) to boost power generation and industrialization in the country.

India invests $10b in Africa as Nigeria seeks ICT growth

Through the Indo-Africa trade arrangement, India has facilitated an investment worth about $10 billion to the African Continent in the last few years.

NBS: Stanbic IBTC attracts N413.62bn capital inflow in three months

Stanbic IBTC, a member of the Standard Bank Group facilitated a $589.84m capital inflow into the country, ranking it first among financial institutions that imported capital into Nigeria in the second quarter of 2017.

The Nation

WAPCo’s gas supply dips by 50% as demand falls

Reduced demand, pipeline vandalism and inadequate supply have made gas supplies by the West African Pipeline Company Limited (WAPCo) to drop by over 50 per  cent to 70 million standard cubic feet per day (mmscf/d) from the 150mmscf/d capacity.

Why we okayed $200m outlay from NCIF, by Kachikwu

The Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu, who is also the chairman, Governing Council, Nigerian Content Development & Monitoring Board (NCDMB), has said the inability of Nigerian oil firms to access funds from banks, at reasonable lending rates, necessitated the approval to disburse $200 million to such firms from the Nigerian Content Intervention Fund (NCI Fund).

BEDC, Thames Energy, Delta seal 20Mw plant deal

Efforts at ensuring that over 200 commercial entities in Ozoro Local Government Area of Delta State benefit from power supply have got a boost as the Benin Electricity Distribution Plc (BEDC) signs a Memorandum of Understanding (MoU) with Thames Energy Limited and the Delta State Government on the construction of 20megawatts (Mw) power plant.

This Day

PZ Cussons Grows Profit to N3.8bn, to Pay N1.9bn in Dividends

PZ Cussons Nigeria Plc yesterday recorded a profit after tax of N3.886 billion for the year ended May 31, 2017, showing an increase of 73 per cent over the N2.129 billion posted in 2016.

FirstBank Partners Visa on Mobile Payment Solution

FirstBank of Nigeria Limited in partnership with Visa has introduced a mobile payment solution – mVisa. This mobile solution allows customers pay for goods and services by scanning a QR code using the FirstMobile App on their smart phones.

Bloomberg

Nigerian Sovereign Wealth Fund Grows to $2 Billion, CEO Says

Nigeria’s sovereign wealth fund stood at $2 billion this month with the investment agency seeking further growth through agriculture and the addition of asset management, its chief executive officer said.

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Source: Blog