28 August 2018

Stock market: Foreign transactions drop by N66.24bn: The Nigerian Stock Exchange recorded a decline of N66.24bn in foreign portfolio transactions last month amid political uncertainties and rise in interest rates in the United States.(Source:Punch)

40 million Nigerians denied access to Internet – NCC: Coverage gaps in 200 communities across the country deprive more than 40 million people access to the Internet, the Nigerian Communications Commission has said.(Source:Punch)

Dairy farming will curb farmers, herdsmen clashes, says Buhari: President Muhammadu Buhari on Monday said a dairy farming initiative being championed by the Kingdom of Denmark and the Kaduna State Government would go a long way in curbing clashes between herders and farmers which had left many people dead.(Source:Punch)

JV funds will attract investments in oil sector – Shell:  Improvement in the release of joint venture funds for oil and gas projects by the Federal Government through the Nigerian National Petroleum Corporation will attract more investments to Nigeria’s oil sector.(Source:Punch)

Apapa gridlock: Haulage cost rises by 360 per cent:  Port users have raised the alarm over about 360 per cent hike in haulage cost in the last three weeks, resulting from the current traffic logjam being experienced along the Lagos ports access routes.(Source:Punch)

Cocoa processors groan under N50bn debt, huge losses:  Cocoa processors in Nigeria have invested billions of naira in the cocoa value chain in response to the Federal Government’s call for value addition to the agricultural produce meant for export.(Source:Punch)

Excess oil revenue rises to $58m per day as price hits $76 per barrel: Nigeria’s excess oil revenue has increased from $48.3 million to $58 million per day as international oil price leaps to $76 per barrel Monday from $72.(Source:Vanguard)

NIRSAL moves to crash food prices with SACR: The Nigeria Incentive-Based Risk-Sharing System for Agricultural Lending, NIRSAL, has taken steps to crash food prices in the country.(Source:Vanguard)

Oil sector depresses Nigeria’s Q2’18 GDP:  The National Bureau of Statistics (NBS) has disclosed that the decline in Nigeria’s oil production has slowed the country’s Gross Domestic Product (GDP) to 1.5 percent in the second quarter of 2018 (Q2’18).(Source:Vanguard)

DISCOs deny households 6,390MW in 3 days: Nigerian households lost a total of 6,390 Megawatts, MW of electricity in three days from the 11 Electricity Distribution Companies, DISCOs due to high frequency, resulting from unavailability of infrastructures.(Source:Vanguard)

Investors jostle for UBA ahead of interim dividend: United Bank for Africa (UBA) Plc has been the toast of the stock market in the past four weeks as investors sought to take positions ahead of the impending release of the audited half-year results and interim dividend of the commercial banking group.(Source:The Nation)

CBN pumps $543m, CNY 63m into forex market:  The Central Bank of Nigeria (CBN) has injected $543.22 million and Chinese Yuan (CNY) 63.21 million into the inter-bank foreign exchange market.(Source:The Nation)

Lafarge Africa to create 10b new shares:  Lafarge Africa Plc plans to create additional 10 billion ordinary shares of 50 kobo each to increase its authorized share capital to 20 billion ordinary shares. The cement company will thereafter float a rights issue to raise N90 billion.(Source:The Nation)

165.7m litres of LPG imported in Q2 – NBS:  The National Bureau of Statistics (NBS), said 165.71 million litres of Liquefied Petroleum Gas (LPG) was imported into the country in the second quarter.(Source:Daily Trust)

Nigeria can benefit from next industrial revolution – NCC:  The Nigerian Communications Commission (NCC) has said Nigeria and other African countries should take cognizance of the digital economy eco-system and generate critical mass of ICT adoption in order to benefit from the next industrial revolution.(Source:Daily Trust)

FG reads riot act to contractor handling Lagos-Ibadan rail project:  The Minister of Transportation, Mr. Rotimi Amaechi, has told the Chinese Civil Engineering and Construction Company (CCECC) that the December 2018 completion date for the Lagos-Ibadan rail project is sacrosanct.(Source:Daily Trust)

Reporting for EasyKobo on Tuesday ,28 August 2018 in Lagos, Nigeria