05 March 2019 

NNPC loses N228.1bn revenue as refineries remain dormant: The Nigerian National Petroleum Corporation lost revenue of N228.1bn between April and November 2018, a period of about seven months, as its refineries continued to perform poorly, the latest industry data revealed.(Source:Punch)

Currency in circulation drops by N189.33bn in one month: Currency in circulation dropped by N189.33bn to N2.139tn at the end of January 2019 from N2.329tn as of December 2018, according to the Central Bank of Nigeria.(Source:Punch)

Crude trade: Nigeria set to migrate from FOB to CIF: The Nigerian Maritime Administration and Safety Agency has said that it achieved a level of success on the discussion around the migration from Free On Board to Cost, Insurance and Freight trade terms for the nation’s crude oil.(Source:Punch)

Emefiele has not proceeded on terminal leave –CBN:  The Governor, Central Bank of Nigeria, Mr Godwin Emefiele, has not resigned from the apex bank, it has been learnt.(Source:Punch)

Pipeline leak delays Nigeria’s Forcados crude loadings: Loadings of Nigeria’s Forcados crude oil, one of the nation’s largest export grades, have been delayed by at least 10 days after a leak on the main pipeline, Reuters quoted industry and local sources as saying.(Source:Punch)

FG offers new savings bonds for subscription: The Federal Government has offered for subscription savings bonds with a tenor of two and three years.(Source:Punch)

FG spent N2.95tn on petrol imports in 2018 –NBS: The amount spent by the Federal Government on the importation of Premium Motor Spirit, also known as petrol, soared by nearly 50 per cent to N2.95tn last year.(Source:Punch)

Nigeria loses $16b to production sharing contracts: The Federal Government lost about $16 bilion in 10 years due to non-review of the 1993 Production Sharing Contracts (PSCs) with international oil companies (IOCs). This is contained in a study by Nigeria Extractive Industries Transparency Initiative (NEITI).(Source:The Nation)

CBN’s PMI report shows manufacturing expanded in February: The February 2019 Purchasing Managers’  Index (PMI) survey conducted by the Statistics Department of the Central Bank of Nigeria (CBN) showed that the manufacturing sector grew within the period.(Source:The Nation)

Oil rises on U.S, China trade deal, OPEC cuts: Oil prices rose yesterday, buoyed by output cuts by the Organisation of Petroleum Exporting Countries (OPEC) and reports that the United States and China are close to a deal to end a year-long tariff row.(Source:The Nation)

Diamond Bank unveils PayDay loan: Diamond Bank Plc has introduced PayDay loan to ease the financial burden of customers. The introduction is part of the  merger benefits to customers of the bank.(Source:The Nation)

MTN resumes dividend payment to shareholders: MTN Nigeria said following a resolution of its dispute with the Central Bank of Nigeria (CBN), its business in the country has resumed dividend payments to shareholders.(Source:The Nation)

TCN: DisCos must recapitalize: The Transmission Company of Nigeria (TCN) yesterday said all the electricity Distribution Companies (DisCos) must recapitalise so as to raise funds to expand their dsitribution infrastructure across the country.(Source:The Nation)

Renewed Buying Interest in Bellwethers Lifts Market by 0.95%: The equities market opened the month of March on a positive note as bellwether stocks lifted the Nigerian Stock Exchange (NSE) All-Share Index (ASI) by 0.95 per cent to close higher at 32,129.94, while market capitalisation added N112.9 billion to close at N12.98 trillion yesterday.(Source:Thisday)

Finally, NERC Arbitrates on NBET’s Management Crisis: After months of upsetting internal management crisis at the Nigerian Bulk Electricity Trading Plc (NBET), a government-backed bulk power purchaser in Nigeria’s privatised electricity market, the Nigerian Electricity Regulatory Commission (NERC) last week moved in to use its regulatory power to stop the situation from further deteriorating.(Source:Thisday)

NERC Approves 121 Third-party Vendors to for Meter Supply: The Nigerian Electricity Regulatory Commission (NERC) has granted certificate of ‘no objection’ to 121 metering firms to procure and install electrical meters to yet-to-be metered power consumers in Nigeria through its Meter Assets Providers (MAP) scheme.(Source:Thisday)

Shell rules out force majeure on oil export after Nembe fire: Royal Dutch Shell has disclosed that it does not have plans to declare force majeure on Bonny Light exports after a fire in an area around a key pipeline.(Source:Vanguard)

Inaccurate data, govt interference, inefficiency threaten power supply – GENCOs: The Electricity Generation Companies, GENCOs, have identified inaccurate data, government interference, and inefficiency as major factors, currently affecting power supply in the country.(Source:Vanguard)

China to slash taxes, boost lending to shore up slowing economy: China will cut billions of dollars in taxes and fees, increase infrastructure investment, and step up lending to small firms as the government boosts stimulus to shore up an economy growing at its slowest pace in almost 30 years.(Source:Reuters)

Euro zone producer prices rise slightly faster than expected in January: Euro zone producer prices rose slightly faster than expected in January, pushed up by a jump in energy, intermediate and capital goods, data showed on Monday.(Source:Reuters)

Reporting for EasyKobo on Tuesday , 05 March 2019 in Lagos, Nigeria