05 July 2018 ( Lagos )

N13.1bn ministries’ projects removed from 2018 budget: About 132 projects valued at N13.16bn were removed from the 2018 budget proposals submitted by President Muhammadu Buhari to the National Assembly. (Source: Punch)

World Bank, NNPC, finance ministry probe petrol consumption figure: The World Bank, Federal Ministry of Finance and the Nigerian National Petroleum Corporation have commenced investigations to determine the actual volume of Premium Motor Spirit, popularly known as petrol, being consumed in the country. (Source: Punch)

CBN woos Nigerians to use Chinese yuan for imports: The Central Bank of Nigeria is wooing local businesses importing goods from China to use the yuan instead of the United States’ dollar in its effort to support the Naira and boost reserves. (Source: Punch)

FG to introduce new classification for insurance firms: The Federal Government, through the National Insurance Commission, plans to introduce a new classification policy in the industry. (Source: Punch)

France to invest N83.7bn in Lagos public transport: The French Republic yesterday expressed readiness to support the Lagos state government in its Mega City agenda through the commitment of EUR200m (US$234m) to set up an efficient public transportation system in the state. (Source: Vanguard)

Equities Market Sheds 2% in Three Days: The sustained bearish trading at the stock market has led to a decline by two per cent per cent in the past three days. (Source: Thisday)

Nigeria records US$32bn foreign investment in ICT: The federal government has said the country recorded well over US$32bn in Foreign Direct Investment (FDI) over the last 15 years. The Minister of Communications, Adebayo Shittu, who disclosed this in Abuja recently, said such investment inflow came in the form of infrastructural development that created an ICT backbone that powered various critical sectors of the economy such as banking, e-commerce, insurance and oil & gas. (Source: Thisday)

DMO: Nigeria Has Subsisting Debt Management Strategy:  The Debt Management Office (DMO) has stated that Nigeria has a subsisting Debt Management Strategy which was approved by the Federal Executive Council (FEC ) in June 2013 and due to expire in December 2019. (Source: Thisday)

Exports in solid minerals hit N26bn in Q1 2018-NBS: Exports in the solid minerals sector hit N26. 9 billion in first quarter of 2018, as reported by the National Bureau of Statistics, NBS, on total foreign trade. (Source: Vanguard)

Epayment: CBN imposes cyber security levy on charges: The Central Bank of Nigeria (CBN) has imposed a cyber security levy of 0.005 percent on service charge collected by payment service providers, PSPs, on electronic payment transactions. (Source: Vanguard)

JV cash calls - IOCs commends NNPC: The International Oil Companies (IOCs) operating in Nigeria’s oil industry have commended the Nigerian National Petroleum Corporation (NNPC) on the payment of all the Joint Venture (JV) cash calls arrears. They made the commendation at the on-going Nigerian Oil and Gas Conference and Exhibition in Abuja on Wednesday. (Source: Vanguard)

Fowler: Tax defaulters must pay arrears with interests, penalties: The Chairman, Federal Inland Revenue Services (FIRS), Babatunde Fowler, yesterday said  Nigerians who defaulted in paying their taxes at the expiration of the grace given by the Voluntary Assets Income Declaration Scheme (VAIDS), would pay the outstanding taxes with interests and penalties. (Source: The Nation)

Fed Govt pays over N150b to construction firms: The Federal Government has paid over half of the N300 billion which was owed to the Federation of Construction Industry (FOCI). (Source: The Nation)

‘DisCos sell power at shortfall of N49.38 per kilowatt’: The inability of the power distribution companies (DisCos) to meet their obligations to customers is because they incur huge losses in the market. (Source: The Nation)

Why Buhari acted on $5.7bn Mambilla hydropower – Fashola: The Minister of Power, Works and Housing, Mr Babatunde Fashola has said while many people merely talked about the $5.7 billion (about N2.1 trillion) Mambilla hydropower project in Taraba state, President Muhammadu Buhari chose to act on the construction after 46 years of conception. (Source:DailyTrust)

FEC okays $92million for gas pipeline consultancy: The Federal Executive Council on Wednesday approved a contract for consultancy service for the construction of a gas pipeline at the cost of $92 million. (Source:DailyTrust)

Nigeria to offer N12.7bn mining contract to eight firms: Nigeria will offer a N12.7bn (US$35.2m) mining contract to eight companies in exploration and consultancy. According to Abubakar Bawa Bwari, the minister of state for solid minerals, the Federal Executive Council approved the contract to four companies in exploration and four companies in consultancy for targeted minerals including gold, industrial minerals, earth metals, iron ore. (Source: Reuters)

FG approves N206bn Anambra, Delta link road: The Federal Executive Council on Wednesday approved the contract for a 11.9-kilometre link road for the second Niger Bridge. The road that cut across Anambra and Delta states will gulp N206bn. (Source: Punch)

Reporting for EasyKobo on Thursday, 5 July 2018 in Lagos, Nigeria