03 August 2018 

CAC to register business names within six hours: The Corporate Affairs Commission says it is working towards the deployment of effective Information Technology application to ensure the registration of business names within a period of four to six hours.(Source:Punch)

FG okays $1.3bn for Lagos-Ibadan Expressway, four other projects: The Federal Government has set aside $1.3bn (about N468bn) from the National Sovereign Investment Fund to finance five critical infrastructure projects.(Source:Punch)

Investors unwilling to buy stake in power assets – Discos:  Nearly five years after the nation’s power sector was privatized, core investors in the electricity distribution companies say they have been unable to recoup their investment in the acquired assets.(Source:Punch)

Manufacturing sector records N1.54tn output in three months: The manufacturing sector recorded a total output of N1.54tn in the second quarter of the year, according to the latest report obtained from the National Bureau of Statistics.(Source:Punch)

Nigeria’s Internet users rebound to 103 million: The numbers of Internet users on mobile devices rebounded in July after suffering a decline in June.(Source:Punch)

‘MMA2 posted losses for 12 years’: The Murtala Muhammed Airport Two has been posting losses for the past 12 years.(Source:Punch)

PFAs invest N11.36bn in infrastructure, eye airport projects:  The Pension Funds Administrators have continued to raise their investments in infrastructure even as they move to extend their investment tentacles to the nation’s airports as assets under their management increase.(Source:Punch)

Stockbrokers caution investors on panic selling: Following the persistent downside of the stock market in recent times, stockbrokers have cautioned investors on panic selling of their shares, saying that projections cannot be made under the present circumstances.(Source:Vanguard)

Banks downsize loan portfolio by N855bn:  In the face of a persisting difficulties in the macroeconomic environment as well as uncertainties in the political environment, current figures indicate that banks are downsizing their loans and advances to businesses in favor of investments in treasury instruments.(Source:Vanguard)

NBS says PFA for Q2 stands at N8.2m: The National Bureau of Statistics (NBS), says Pension Fund Asset (PFA) in the second quarter stands at N8.232 million as against N7.943 million recorded in the first quarter.(Source:Vanguard)

Nigeria, China to sign $328m agreement on ICT – Presidency:  Presidential spokesman Garba Shehu has said that Nigeria and China have completed arrangements to sign 328 million dollars agreement on the National Information and Communication Technology Infrastructure Backbone Phase 11 (NICTIB 11).(Source:Vanguard)

CBN Parleys UK Agency on Regulatory Framework for Fintechs:  The Central Bank of Nigeria (CBN) is collaborating with the Financial Control Authority, a United Kingdom agency to develop framework for the regulation of financial technology (fintech) companies in Nigeria.(Source:Thisday)

FIRS Harps on Expanding Nigeria’s  Tax Net: The Federal Inland Revenue Service (FIRS), has emphasized the need to widen the country’s tax net in order to enhance government’s revenue.(Source:Thisday)

NCAA Generates N15.273bn from Air Tickets:  The Nigerian Civil Aviation Authority (NCAA) said it has generated N6.112.8 billion ($16.98 million) as Ticket Sales Charge (TSC) from international airlines and over  N9.16 billion from local airlines, totaling N15.273 billion between the months of January and August this year.(Source:Thisday)

FG Moves to Diversify NIPOST’s Revenue Base: The Minister of Communications, Mr. Adebayo Shittu has disclosed plan by the federal government to diversify revenue base of the Nigeria Postal Service (NIPOST).(Source:Thisday)

PZ Cussons Cuts Dividend to N596m on Lower Profit After Tax: PZ Cussons Nigeria Plc is to pay lower than dividend to shareholders for the year ended May 30, 2018, following a decline of 44 per cent in  the company’s profit after tax (PAT).  Unlike last year when shareholders shared N1.985 billion or 50 kobo per share, they will share N595.572 million or 15 kobo this year.(Source:Thisday)

Nigeria, UK yearly trade hits £4.2b: Nigeria’s bilateral trade relationship with the United Kingdom (UK) is said to be worth £4.2 billion per annum.(Source:The Nation)

Guinness Nigeria increases dividend up by 187.5%:  The board of directors of Guinness Nigeria Plc yesterday recommended a 187.5 per cent increase in dividend payout to shareholders as the brewer grew sales and profit to their best records in recent period.(Source:The Nation)

Access Bank to pay N7.23b interim dividend:  Access Bank Plc will distribute N7.23 billion to its shareholders as interim dividend for the first half of this year as the commercial bank sustained modest growths in earnings. Shareholders will receive interim dividend per share of 25 kobo.(Source:The Nation)

Awolowo: zero oil plan will grow export to $25b:  The Nigerian Export Promotion Council (NEPC), Olusegun Awolowo, said it plans to grow non-oil exports from $1.20 billion to $8billion in 2019 and eventually $25 billion by 2025.(Source:The Nation)

‘FG’s plan to increase non-oil exports to $25bn realizable’:  The Executive Director of the Nigerian Export Promotion Council (NEPC), Mr. Olusegun Awolowo, has described the Federal Government’s plan to increase non-oil export to $25 billion by 2025 from $1.20 billion in 2016 as “realizable.”(Source:Daily Trust)

FMBN, NLC, others to launch affordable housing for workers:  The Federal Mortgage Bank of Nigeria (FMBN), Nigeria Labor Congress (NLC), Trade Union Congress (TUC) and the Nigeria Employers’ Consultative Association (NECA), have finalized plans to commence the implementation of a national affordable housing delivery program for Nigerian workers.(Source:Daily Trust)

Vessel traffic to Nigeria dropped by 2.3 % in Q 1 2018:  The traffic of vessels that made port calls to Nigeria in the first quarter of 2018 when compared to the same period in 2017 dropped from 1008 to 985 vessels representing a decrease of 2.3 per cent, according to statistics made available by the Nigerian Ports Authority (NPA).(Source:Daily Trust)

Electricity grid loses 673MW to technical outages in 24 hours:  The national electricity grid lost 673 megawatts (MW) on Wednesday after the grid recorded several technical outages across four Generation Companies (GenCos) and four transmission substations.(Source:Daily Trust)

Reporting for EasyKobo on Monday , 03 August 2018 in Lagos, Nigeria