Blackout: Electricity generation sinks to 1,580MW:
The highly pronounced power failures across the country in the past few days may worsen following a partial system collapse that occurred on Tuesday, and the continuous drop in electricity generation due to what the government says is the vandalism of pipelines that supply gas to the power plants.
27 firms raise NSE capitalisation by N45bn:
The gains recorded by 27 stocks on the floor of the Nigerian Stock Exchange on Wednesday boosted the NSE market capitalisation by N45bn.
N696bn unpaid salary threatens Ogoni clean-up project:
The implementation of the United Nations Environment Programme Assessment report on oil pollution in the Niger Delta is being threatened by the inability of the Federal Government to pay about 36 months’ salary arrears of the workers of the Hydro Carbon Pollution Restoration Project.
Expert seeks finance devt bank for power sector:
The Group Managing Director of CFL Group of Companies, Mr. Lai Omotola, has canvassed the establishment of a finance development bank for the power sector to address the frequent changes in electricity tariffs.
MTN must pay fine in full, Reps insist:
The House of Representatives has insisted that Global System for Mobile communication (GSM) service provider, MTN Nigeria must pay the N780billion fine slammed on it by the Nigerian Communications Commission (NCC).
Chevron eyes $17-22b annual capex for 2017-18:
American oil giant, Chevron Corporation, has said it intends to achieve capital spending budget of between $17 billion and $22 billion yearly for 2017 and 2018.
Barclays Africa Targets Expansion in Nigeria:
Barclays Africa Group Limited said there’s no lack of interest from buyers seeking a stake in South Africa’s third-largest lender as Barclays Plc prepares to reduce its 62.3 percent holding to less than 20 percent.
Manufacturers seek 18 months access to forex for backward integration :
Manufacturers in the real sector of the economy have requested the federal government to grant them 18 months access to foreign exchange to enable them backwardly integrate.
BoI accredits 11 partners to implement YES scheme :
The Bank of Industry (BoI) has accredited eleven Enterprise Development Centres and capacity building consultants to implement the bank’s Youth Entrepreneurship Support (YES) Programme.
Nigerian policymaker advised central bank to devalue naira: MPC minutes:
LAGOS (Reuters) – A member of Nigeria’s central bank monetary policy committee(MPC) has said the naira should be devalued and allowed to trade within a band, saying that the fixed exchange rate would not work alongside a planned rise in government borrowing.