THISDAY
Uncertainty over 2016 Budget as Senate Defers Passage
Assurances by the Senate and House of Representatives Joint Committees on Appropriations that the 2016 Budget would be passed into law on March 17, 2016 may no longer be feasible as the committees continue to work to resolve the issues and errors in the estimates.[Read More…]
OPEC, Non-OPEC Producers to Meet in Doha on April 17, Says Qatari Minister
As part of the collaborative efforts between the Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC producing countries to freeze crude oil output in an attempt to prop up prices, the two groups will hold a meeting in Doha, Qatar on April 17.[Read More…]
Nestle Records N24bn Profit, Declares N19 Final Dividend
Nestle Nigeria Plc reported on Wednesday improved performance for the financial year ended December 31, 2015 despite the challenging operating environment. The company posted a revenue of N151.272 billion, compared to N143.329 billion in 2014.[Read More…]
GTB, MoneyGram Unveil New Fund Receive Product
The Guaranty Trust Bank Plc (GTBank) and MoneyGram on Wednesday announced the launch of a new fund receive service across the network of the commercial bank.[Read More…]
Emefiele, Enelamah Discuss Dollar Supply
The Nigerian Trade and Investment Minister Okechukwu Enelamah and Central Bank of Nigeria (CBN) Governor, Godwin Emefiele are discussing ways to ensure supplies of foreign exchange to manufacturers in the West African nation as the plunge in oil prices constricts dollar inflows.[Read More…]
Telecoms Operators Record 431,978 Porting Subscribers in One Year
Telecoms operators, last year, recorded the highest number of porting subscribers on their networks, totaling 431, 978 for both outgoing and incoming porting. The figure became the highest since Mobile Number Portability was introduced by the Nigerian Communications Commission (NCC) in April 2013.[Read More…]
PUNCH
We owe Federation Account N326bn, not N3.23tn —NNPC
The Nigerian National Petroleum Corporation on Wednesday said it did not fail to remit N3.325tn to the Federation Account but admitted that it owed the government N326.14bn, which was still being reconciled.[Read More…]
Reps query CBN’s N1.2tn intervention projects
The House of Representatives on Wednesday queried the growing number of intervention projects executed by the Central Bank of Nigeria in various sectors of the economy and running into over N1.233tn.[Read More…]
Power generation drops by 759MW in 24 hours
Power generation fell by 759.1 megawatts in the 24 hours to Wednesday on the back of losses recorded by Egbin, Afam VI and other generation plants.[Read More…]
VANGUARD
Revenue from non-oil exports down by 58% to $4.3bn — CBN
The Central Bank of Nigeria (CBN) has said that the revenue from non-oil exports fell sharply by 58 percent to $4.39 billion in 2015.[Read More…]
Accumulated interests raise AMCON’s indebtedness to N6.6trn —CBN
The Asset Management Corporation of Nigeria, AMCON, yesterday, admitted before an investigative panel of the House of Representatives that its debt profile had risen to N6.6 trillion courtesy of accumulated interest payment of N2.1 trillion.[Read More…]
INDEPENDENT
FG Unveils New National Aviation Policy In Weeks
The Minister of State for Aviation, Sen. Hadi Sirika, has said that the Federal Government would unveil the new national aviation policy within the next two weeks.[Read More…]
REUTERS
Asia jumps as cautious Fed lifts risk appetite, dollar on defensive
Asian shares gained across the board on Thursday as risk appetite revived after the Federal Reserve reduced the number of interest rate hikes expected this year, while the dollar nursed substantial losses.[Read More…]
BLOOMBERG
Asian Stocks Rally With European Futures on Fed; Oil, Won Jump
Asian shares rallied with European stock index futures and commodities after the Federal Reserve scaled back its projection for U.S. interest-rate hikes. South Korea’s won and oil surged.[Read More…]