PH, Warri refineries now producing petrol – Kachikwu:
The Minister of State for Petroleum Resources and Group Managing Director, Nigerian National Petroleum Corporation, Dr. Ibe Kachikwu, has announced that the Port Harcourt Refining Company and the Warri Refining and Petrochemical Company are now producing a combined volume of seven million litres of petrol daily.
Naira to remain flat against dollar on slow growth:
The naira is expected not to rise or fall significantly at the parallel and official foreign exchange market as the economy slows and demand for foreign exchange eases after President Muhammadu Buhari’s delayed signing of the 2016 budget.
Unilever Nigeria posts N1.04 PAT for Q1:
Unilever Nigeria Plc results for quarter ending March 31, 2016 show a turnover and profit after tax of N16.78bn andN1.04bn respectively.
Union Bank to reduce cost-income ratio:
Union Bank of Nigeria says it is currently leveraging strategies that will help to reduce its cost-income ratio from 67 per cent to 60 per cent for the 2016 financial year.
PIB: Need for even handedness :
Of all the Issues that have threatened the stability of this country- religion, ethnicity – there has been none as virulent as oil. This threat has been potentiated by the manner in which this product has been administered and mismanaged.
‘Strong Nigeria, Indonesia trade tie will strengthen both economies’ :
The recently concluded trade promotion tagged, “Indonesian Solo Exhibition 2016” in Lagos was to promote a strong business tie between Indonesia and Nigeria as it was designed also to promote Indonesia’s superior products and cultures to the business community in Nigeria and West Africa in general.
Nigeria Ranks 67th in Open Data Barometer :
Nigeria is currently ranked 67th out of 92 countries in the Open Data Barometer published by the Web Foundation. The Web Foundation is published by the World Wide Web inventor, Sir Tim Berners-Lee’s.
Telecoms Industry Stakeholders Demand Review of FG’s Fiscal, Monetary Policies :
Telecommunications industry stakeholders have called on the federal government to revisit its fiscal and monetary policies, in order to create enabling environment that will boost infrastructural development and drive broadband penetration in Nigeria.
Toyota, BMW, Hyundai in recall saga:
Toyota Motor Corporation, Hyundai and BMW are recalling some of their models.
Toyota is recalling 60,000 Avalon and Camry sedans in North America because their front passenger air bags may not deploy in a crash.
Interbank rate rises as market liquidity falls to N232.9b:
The overnight interbank rate rose for the second consecutive week to an average of six per cent last Friday, from 4.5 per cent, as commercial lenders’ liquidity level dropped on payment for treasury bills purchases.