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DAILY BUSINESS NEWS BRIEF – Friday, November 4th, 2016

4
Nov

PUNCH

$29.96bn loan: Presidency hopeful of Reps approval
The Presidency on Thursday expressed optimism that the House of Representatives would approve President Muhammadu Buhari’s request to borrow $29.9bn from foreign sources, despite the decision of the Senate to reject the plan.[Read More…]

MAN wants $1bn forex allocation for industrialists
The manufacturing industry requires the injection of about $1bn to galvanise activities in the sector and enable it to contribute significantly to the economy, the Manufacturers Association of Nigeria has said.[Read More…]

Pipeline vandalism drops by 28%, says NNPC
The Nigerian National Petroleum Corporation says pipeline vandalism across the country had reduce by 28 per cent.[Read More…]

Economic recovery plan ready by December – FG
The Minister of State for Budget and National Planning, Mrs. Zainab Ahmed, has said that the national economic recovery plan for the next three years will be ready next.[Read More…]

2017 budget: ‘Empty’ MTEF causing delay, says Senate
The preparation of the 2017 budget suffered another setback at the Senate on Thursday, as the upper chamber of the National Assembly took a swipe at the Executive for blaming lawmakers for the delay in the process.[Read More…]

Increase investment in infrastructure, NBCC advises FG
The Nigerian British Chamber of Commerce has advised the Federal Government to increase its investment in infrastructure as a way of creating more jobs.[Read More…]

FG should encourage telecoms, power firms to list — Shareholders
Shareholders in the country’s equities market have called on the Federal Government to do everything within its reach to encourage telecommunications and power firms to list on the Nigerian Stock Exchange.[Read More…]

THE GUARDIAN

EU’s grant to Nigeria may top €1.5b by 2020
Come 2020, Nigeria would have received €1.46 billion from the European Union (EU) in form of grants for critical projects in some key sectors of the economy starting from 2008.[Read More…]

MDAs electricity debt profile rises to N100 billion
The debt profile of Ministries, Department and Agencies (MDAs) has risen to N100 billion up from N93 billion recorded about four months ago.[Read More…]

DAILY TRUST

FIRS earns N2.7tr revenue in 9 months – Fowler
The Federal Inland Revenue Service (FIRS) said it has generated N2.7trn revenue from oil and non-oil sources as at September 2016 which represents 81 percent of the third quarter cumulative target of 3.12tr in the 2016 budget.[Read More…]

Nigeria sells 99 billion Naira in Treasury bills
Nigeria sold 99.12 billion Naira ($312 million) in short-dated treasury bills at an auction on Wednesday, with mixed yields, data from the nation’s central bank showed on Thursday.[Read More…]

NNPC mega stations increase fuel price by N4/litre
The Nigerian National Petroleum Corporation (NNPC) has increased the pump price of petrol at its retail outlets by N4 from N141 to N145 per litre.[Read More…]

Nigeria’s oil output down by over 200,000 bpd after militant attack
Nigeria’s oil production has fallen by at least 200,000 barrels per day (bpd) since a militant attack forced the closure of the major Trans Forcados Pipeline (TFP) on Wednesday, industry sources said.[Read More…]

N1.4trn fine: Court grants lawmaker leave to sue MTN, NCC
A member of the House of Representatives, Raphael Igbokwe, has obtained leave from the Federal High Court in Abuja, to sue the Nigerian Communications Commission (NCC) and MTN Nigeria Ltd for reducing the fine awarded against the telecoms operator.[Read More…]

LEADERSHIP

Nigeria Still Imports 75% Of Requirements For Cement Production – NSME
The president, Nigerian Society of Engineers (NSE), Dr Ebenezer Damisa, has stressed the need for Nigeria to strengthen its mining institutions to curb illegal importation of raw materials as he says the country still imports 75 per cent of its requirements for cement production.[Read More…]

THISDAY

‘Only Two Operating Airlines May Survive Till End of 2017’
Airline operators have estimated that there is about 30 percent reduction of passenger traffic in the domestic market despite the fact that few airlines are still in operation.[Read More…]

Tincan Island Port Generates N207.8bn in 10 Months
The Nigeria Customs Service (NCS), Tincan Island Port generated N207.838 billion between January and October 2016. This disclosure was made by the Area Comptroller Tincan Island Port Apapa, Comptroller Bashar Yusef while reviewing the general operational module of the command.[Read More…]

BLOOMBERG

Stocks Extend Pre-Vote Selloff With Oil Below $45; Lira Weakens
A global stocks selloff extended into Friday trading as crude oil held near a one-month low and investors shunned riskier assets ahead of next week’s U.S. presidential election.[Read More…]

 

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