14 June 2018:

Inflation drops for 16th consecutive month to 11.61%: The National Bureau of Statistics on Wednesday said the Consumer Price Index, which measures inflation rate, dropped by 0.87 percentage points from 13.34 in April to 11.61 in May. (Source: Punch)

Nigeria suffers biggest oil output decline in OPEC: Nigeria suffered the biggest decline in crude oil production in the Organization of Petroleum Exporting Countries (OPEC) last month as its output fell by 114,500 bpd. In its monthly oil market report for June, put Nigeria’s output at 1.516 million bpd in May, down from 1.63 million bpd in April and 1.861 million bpd in December 2017. (Source: Punch)

FEC approves N185bn for roads, N6.5bn ITF centre:  The Federal Executive Council on Wednesday approved the rehabilitation, repair and construction of 14 roads in different parts of the country. (Source: Punch)

AfDB approves US$15m investment in food security: The Board of the African Development Bank (AfDB) has approved equity investment of US$15m in the Africa Food Security Fund, which supports Small and Medium Enterprises (SMEs) involved in agri-business in order to enhance food security across the continent. (Source: Punch)

Oil Marketers target synergy with foreign crude refiners: Oil marketers are fashioning out modalities to partner foreign crude oil refiners by December this year with a view to resume importation and further improve product supply in the country. (Source: Nation)

International customers pay $17.730m for Nigeria’s electricity: Nigeria’s international electricity customers remitted  $17,739,042.09 to the Federal Government last month. (Source: Nation)

Oil price fall to $75 pb on rising supply by US: The oil industry of the United States of America, USA, is now capitalizing on the recent upsurge in oil prices to pump-up volume in the market, leading to excess supply glut and slump in prices. (Source: Vanguard)

Naira appreciates to N361 /$ in parallel market: The parallel market exchange rate dropped to N360 per dollar yesterday from N361 per dollar on Tuesday, translating to N1 appreciation for the Naira. (Source: Vanguard)

Nigerian Stock Market index drops by 0.40%: Trading activities dropped on the Nigerian Stock Exchange (NSE) on Wednesday after two consecutive days of growth, with the All-Share Index reducing 0.40 per cent. (Source: Guardian)

Dangote deep-sea pipeline to boost Nigeria’s power generation by 12,000mw: The Dangote Group’s sub-sea pipeline infrastructure is expected to augment the natural domestic gas supply and add an estimated 12,000MW to Nigeria’s power generation capacity.  Dangote also has plans to construct a 570MW power plant within refinery complex. (Source: Guardian)

Nigeria Will Attain 30% Broadband Penetration By 2018, NCC Insists: The Executive Vice Chairman, Nigeria Communications Commission (NCC), Prof. Umar Danbatta, has expressed the desire of the commission to ensure that the country attains 30 per cent broadband penetration before the end of 2018. (Source: Thisday)

Nigeria to Receive Another $500 Million Abacha Loot: The Federal Executive Council (FEC) rose from its weekly meeting in the State House Abuja Wednesday with cheery news of the forthcoming repatriation of $500 million loot from United Kingdom, United States and France to Nigeria. (Source:Thisday)