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BUSINESS NEWS BRIEF – SEPTEMBER 09, 2015

9
Sep

PUNCH

Set limit to govt borrowing, FRC urges Buhari
The Fiscal Responsibility Commission has urged President Muhammadu Buhari to set a ceiling on the level of debts that can be accumulated by any of the three tiers of government.[Read More…]

FG spends N2.7tn on power in 16 years
The Permanent Secretary of the Ministry of Power, Mr. Goodknows Igali, has said the Federal Government has so far spent a total of N2.7tn on the power sector from 1999 to date.[Read More…]

NERC retains fixed electricity charge
The Nigerian Electricity Regulatory Commission on Tuesday explained why it decided not to allow any increase in electricity tariff for all categories of consumers, which would have commenced in June this year.[Read More…]

THISDAY

PenCom Cautions Contributors against Withdrawals from RSA
The National Pension Commission (PenCom) has advised contributors into the contributory pension scheme (CPS) to eschew the habit of demanding a huge initial lump sum payment from their Retirement Savings Account (RSA).[Read More…]

VANGUARD

BPE orders Enugu Disco to hands off Aba, Ariaria assets
The Bureau of Public Enterprises, BPE, has ordered Enugu Electricity Distribution Company, EEDC, to hand over the disputed Ring Fenced Islands at Aba and Ariaria, in Abia State, to Afrigem Integrated Utilities Limited.[Read More…]

Kaduna govt, container firm sign deal on dry port
The Kaduna State Government has signed a Memorandum of Understanding (MoU) with Inland Containers Nigeria Limited (ICNL) to operate a dry port in Kaduna.[Read More…]

THE NATION

Buhari orders review of Nigeria’s foreign missions abroad
President Muhammadu Buhari yesterday directed the Ministry of Foreign Affairs to review the size and number of Nigeria’s foreign missions.[Read More…]

LEADERSHIP

Niger Assembly Gives Bello Approval For N6.4bn Bailout, Other Loans
Niger State House of Assembly has formally given the governor, Alhaji Abubakar Sani Bello the approval to access the N4.3 billion bailout fund meant for the state and also take another N2.05 billion loan.[Read More…]

NERC Inaugurates Committee On Attainment Of 6,000MW By Dec
The Nigerian Electricity Regulatory Commission (NERC) yesterday inaugurated a 14-man task force for attainment of 6,000megawatts (MW) milestone by the end of this year for the Nigerian Electricity Supply Industry (NESI).[Read More…]

DAILY INDEPENDENT

World Bank Ranks Nigeria Low On Ease Of Doing Business
The World Bank’s Ease of Doing Business ranking showed that Nigeria ranked 170 among 189 economies covered in the 2015 edition, released recently.In sub-Saharan Africa, the report showed that Nigeria ranked 36 out of 47, barely above other struggling economies like Zimbabwe, Liberia, Mauritania, Congo Republic, Guinea Bissau, Angola, Congo Democratic Republic, Chad, South Sudan, Central African Republic and Eritrea.[Read More…]

Electricity Industry Revenue Requirement Rises To N619b
The relatively stable electricity in the country has shore up the revenue requirement in the sector to N619b from the previous N572 billion.The Nigerian Electricity Regulatory Commission (NERC) made the disclosure in Abuja on Tuesday during a presentation at a public consultation on minor review of the Multi-Year Tariff Order (MYTO 2.1).[Read More…]

REUTERS

Japanese stocks soar as Asia rides global rally
Asian shares extended a global rally on Wednesday, with markets in China stabilizing and Japanese stocks posting their biggest one-day gain since the height of the global financial crisis in 2008.[Read More…]

BLOOMBERG

JPMorgan to Remove Nigeria From Emerging-Market Bond Indexes
JPMorgan Chase & Co. has excluded Nigeria from its local-currency emerging-market bond indexes tracked by more than $200 billion of funds, after restrictions on foreign-exchange transactions prompted investor concerns about a shortage of liquidity.[Read More…]

 

fake richard mille
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