06 June 2018 ( Lagos)

No plan to dump MYTO, says NERC: The Nigerian Electricity Regulatory Commission on Tuesday said it had no plan to dump the Multi-Year Tariff Order framework used in determining the tariff payable by electricity consumers in the country. (Source: Punch)

Fashola, power firms oppose bill to criminalize estimated billing: The Minister of Power, Works and Housing, Mr. Babatunde Fashola, and the Nigerian Electricity Regulatory Commission on Tuesday opposed the move by the House of Representatives to criminalise estimated billing by electricity distribution companies in the country. (Source: Punch)

Nigeria clears foreign airlines’ $600m trapped funds: The International Air Transport Association on Tuesday announced that Nigeria had cleared the backlog of $600m trapped funds belonging to foreign airlines operating in the country. (Source: Punch)

Moody’s: Nigeria’s Perennial Budget Delay Reflects Weakness of Institutions: Moody’s Investors Service has described the perpetual delay in passing Nigeria’s annual budget as a reflection of the weakness of institutions in the country.(Source : Thisday ) 

Market Extends Gains on Sustained Bargain Hunting in Bellwether Stocks: Sustained bargain hunting in heavy weight counters saw the equities market extend its gains for the second day yesterday.( Source: Thisday )

Keystone Bank sold at N41b, says AMCON: Managing Director/Chief Executive Officer, Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru, has said the sale of Keystone Bank to new investors at N41 billion helped to boost the corporation’s performance in the last financial year. (Source: The Nation)

NSE prepares for e-IPO: The Nigerian Stock Exchange (NSE) is set to launch the electronic initial public offering (e-IPO) in the capital market. (Source:The Nation)

Mobile internet users in Nigeria hit 101.2m: Internet users in the country increased to 101. 2 million in April from 100.6m recorded in March, the Nigerian Communications Commission (NCC), has said.( Source: Daily Trust)

We're discovering more gas offshore Lagos - FG: The federal government has said more gas resources are being discovered offshore Lagos. The Minister of State for Petroleum Resources, Ibe Kachikwu, disclosed this on Tuesday at the West African Gas Pipeline Project’s Committee of Ministers’ Meeting in Abuja. (Source: Punch) 

Railway begins petroleum products movement: The movement of petroleum products by rail is set to begin this week, the Lagos District Manager of the Nigerian Railway Corporation (NRC), Jerry Oche, has said. The NRC would flag off the new deal by moving diesel between Apapa to Dagbolu, in Osun State. (Source: The Nation)

NMRC issues N11bn Series II Bond: The Nigeria Mortgage Refinance Company (NMRC) said it has completed its N11bn (US$30.5m) 13.80% Series 2 Bond Issuance under its N440bn Medium Term Note Programme. The net proceeds of the exercise will be used to refinance eligible mortgage loans originated by the participating mortgage lending banks. (Source: The Nation) 

NSE prepares for e-IPO: The Nigerian Stock Exchange (NSE) is set to launch electronic initial public offering (e-IPO) in the capital market. As part of the arrangements for the automation of public offering, the NSE held training on modalities for e-IPO and the functionalities at the Exchange that will facilitate the automation. (Source: The Nation)

Peugeot to start Nigeria assembly plant by Q1 2019 - local partner: PSA Peugeot Citroen plans to start assembling cars in Nigeria by Q1 2019, via a joint venture with Africa’s richest man, Aliko Dangote, and five state governments, one of the local partners told Reuters. The joint venture, Peugeot Automobile Nigeria (PAN) Ltd, will assemble 3,500 units in its first year and ramp up to about 10,000 units, said Jimi Lawal, adviser to the governor of Kaduna, the northwestern state where the plant will be located. (Source:Reuters)