Thursday, January 17, 2019 9:26:38 AM- Nigerian Stock Exchange.

  Top Financial News


31 July 2018 ( Lagos ) 

Frequent electricity tariff hike despite N123bn bailout is injustice —Dogara: The Speaker of the House of Representatives, Mr Yakubu Dogara, said on Monday that the frequent hike in electricity tariff was injustice to Nigerians, who had become accustomed to living without regular power supply.(Source:Punch)


Nigeria targets fresh investments from 15 countries: The Nigeria Investment Gateway, in conjunction with the Infrastructure Concession Regulatory Commission and the National Office for Technology Acquisition and Promotion, among other agencies of government, are targeting fresh investments into the country from about 15 other nations.(Source:Punch)


Ezekwesili, others advise FG on Excess Crude Account: Stakeholders, including a former Vice-President, Africa Region, World Bank, Oby Ezekwesili, on Monday called on the Federal Government to insist on accountability and binding rules on revenue outflow from the nation’s Excess Crude Account.(Source:Punch)


FG may inject N300bn into auto industry: The Federal Government plans to inject N300bn into the nation’s vehicle assembly plants as part of measures to accelerate the development of the automotive industry.(Source:Punch)


Nigerian Breweries posts N18bn after-tax profit in H1:  Nigerian Breweries Plc has announced a profit after tax of N18bn for the first half of 2018.(Source:Punch)


NSE lifts suspension on Universal Insurance’s shares:  The Nigerian Stock Exchange said on Monday that it had lifted the suspension of trading in the shares of Universal Insurance Plc.(Source:Punch)


W/Bank energy financing in Nigeria, others increase by $7.7bn:  The World Bank has stated that it has exceeded its financing target in new energy for Nigeria and other developing countries.(Source:Vanguard)


Electricity tariff rises by 142% in 10 years: Even with N123 billion Nigerian Electricity Market  Stabilization Fund (NEMSF) provided by the Federal Government as a subsidy to operators in the industry, indications have emerged that the tariff paid by households for power rose to 145 percent in ten years.(Source:Vanguard)


13 states’ access to electricity still below 40%: With gas supply, distribution and transmission challenges affecting on-grid power sector, indications have emerged that 13 states’ access to electricity is still below 40 per cent.(Source:Vanguard)


Yuan sale by CBN excites traders:   The Central Bank of Nigeria sold yuan at a range of N49-51 at its first auction of the Chinese currency last week.(Source:The Nation)


Fed Govt to redress trade agreements:  The Federal Government has taken steps to reverse trade and negotiation failures, as well as coordinate deficits in trade.(Source:The Nation)


NNPC, DPR must explain zero revenue remittance, says Auditor-General: The Nigerian National Petroleum Corporation (NNPC) and the Department of Petroleum Resources (DPR) have cases to answer over non-remittance of revenues to the Federation Account for several months.(Source:The Nation)


Businesses spend N5trn yearly on generators – Official:  Businesses in the country spend an estimated $14 billion (about N5 trillion) annually importing, fuelling and maintaining generators, the Executive Director, Rural Electrification Funds at the Rural Electrification Agency (REA).(Source:Daily Trust)

Reps, operators differ on new electricity tariff: Members of the House of Representatives ad hoc Committee on Multi Year Tariff Order (MYTO) System and operators in the power sector yesterday expressed discordant views on the need and possibility of reducing the current electricity tariffs in the country.(Source:Daily Trust)


FG Moves against Anti-Labour Practices in Oil Sector: The federal government has threatened to withdraw the licence of labour contractors that engage in anti-labour practices in the oil and gas sector.(Source:Thisday)


FBN Holdings, Sterling Bank Post Improved Six-month Profits: FBN Holdings Plc and Sterling Bank Plc have announced their results for the half year (H1) ended June 30, 2018, showing higher profits.(Source:Thisday)

Reporting for EasyKobo on Tuesday, 31 July 2018 in Lagos, Nigeria

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