24 August 2018

Power: Benin Republic, Niger pay Nigeria $10m after disconnection threat: The Republics of Benin and Niger have paid $10.1m as electricity bill to Nigeria to avert being disconnected from their power source in Nigeria after the Federal Government threatened to disconnect debtors.(Source:Punch)

Banks give manufacturers N2tn loans in one year: A total of N2.01tn was granted as loans by the Deposit Money Banks to the manufacturing sector within one year covering July 2017 to June 2018.(Source:Punch)

CBN pegs maximum credit facility to agric, manufacturing at N10bn: The Central Bank of Nigeria has released the guidelines for accessing the Real Sector Support Facility aimed at channelling funds to the manufacturing and agricultural sector.(Source:Punch)

FAO seeks $18m to boost agric in North-East: The Food and Agriculture Organisation of the United Nations said it planned to install 100 Farmer Field School communities in 2018 in the North-East to boost agricultural production.(Source:Punch)

Nigerian crude exports set for four-month high:  The nation’s oil exports are expected to rise to their highest in four months in October, on the back of supply of several larger grades coming back online following a series of pipeline outages in the last couple of months.(Source:Punch)

Tax remittance: ABCON kicks as banks suspend BDCs’ accounts:  The Association of Bureau De Change Operators of Nigeria has kicked against ongoing banks’ suspension of bureau de change accounts, demanding for tax remittances on turnover volumes.(Source:Punch)

Freight Levy Review Lifts Nigeria’s Cargo Volume by 31.2%: The Director General of the Nigerian Maritime Administration and Safety Agency NIMASA (NIMASA), Dr. Dakuku Peterside has stated the inward cargo throughput of Nigeria’s seaports recorded a 31.24 per cent increase between January-June 2018, following the decision of the agency to carry out a downward review of its three per cent freight levy.(Source:Thisday)

FG, ECOWAS to Review Flight Charges: The federal government has started series of meetings with some countries in West and Central Africa to review airport charges on Nigerian airlines.(Source:Thisday)

NIMASA’s annual contribution to federation account surges to N20bn: There are indications that a financial re-engineering has taken place at the Nigerian Maritime Administration and Safety Agency (NIMASA), resulting in a revenue surge.(Source:Vanguard)

Nigerian oil exports set to hit 1.73m bpd in October: There are indications that Nigeria’s crude oil export will increase to 1.73 million barrels per day (bpd) in October 2018, up by 22.6 per cent over the 1.41  million bpd scheduled for September.(Source:Vanguard)

Naira appreciates to N358/$ in parallel market:  According to naijabdcs.com, the live exchange rate platform of the Association of Bureaux De Change Operators (ABCON), the parallel market exchange dropped to N358 per dollar from N359 on Monday, translating to 10 kobo appreciation of the naira.(Source:Vanguard)

Eaton raises stake in NEM, buys 130 million shares: Eaton Acquisitions Limited, an investment company that focuses on identifying listed companies with high growth potential and investing, has announced the completion of the purchase of 130 million shares of NEM Insurance Plc.(Source:Guardian)

Mutual Benefits opens rights issue:  Mutual Benefits Assurance Plc’s ?0.50 rights issue of 4 billion ordinary shares held as at October 31, 2017, is open for subscription until September 14, 2018.(Source:Guardian)

Nigeria’s oil export earnings decline 21% amid rising prices:  Nigeria’s net oil export earnings this year (between January and July), have declined by about 21 per cent compared to 2017 performance.August 2018 data obtained from the Organisation of Petroleum Exporting Countries (OPEC), showed that net oil export earnings of the country stood at $27billion for 2018 (January to July) while 2017 figure was $34billion.(Source:Guardian)

Reporting for EasyKobo on Friday ,24 August 2018 in Lagos, Nigeria