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Daily Business News Brief – August 18th, 2022


Electricity workers call off strike, businesses count losses – Punch
Businesses and other power consumers were thrown into darkness on Wednesday as the industrial action embarked upon by electricity workers, which lasted for almost one day, led to the total shutdown of the national power grid.  Power generation crashed fell below 4,000 megawatts as workers of the National Union of Electricity Employees went on strike to protest against a compulsory promotion interview for principal managers, unpaid entitlement, among other issues……….Read More

Mobile transactions rise by N8.9tn in three years – Punch
Mobile transactions have risen by N8.981 trillion between the first seven months of 2019 and the corresponding period of 2022.  They have risen from N289.12bn to N9.27tn, according to data from the Nigeria Interbank Settlement System.  This is as the value of cheque transactions fell by 31.42 per cent, from N2.67tn in January to July 2019 to N1.83tn in the corresponding period of 2022………..Read More

Shareholders Back Jaiz Bank’s Bid to Raise N150bn Via Sukuk – Thisday
Shareholders of Jaiz Bank Plc yesterday approved the board’s request to mobilise the sum of N150 billion through the issuance of Sukuk instruments either in full or in series.  The capital injection will among other things, boost the bank’s current expansion drive, especially in the digital frontline………..Read More
Nigerian Breweries Records N274.03bn Revenue, Declares N19.08bn Profit – Punch
The Nigerian Breweries Plc has announced a total sum of N274.03 billion as revenue for the first half (H1) of the 2022 financial year ended June 30, 2022. The company also recorded a Profit After Tax (PAT) of N19.08 billion during the period.  According to the unaudited report and provisional results filed with The Nigerian Exchange Limited, the company experienced a 31per cent growth in revenue compared to the N209.22 billion recorded in the corresponding period in 2021………….Read More
Oil firms spill N711bn crude oil, degrade environment – Daily Independent
Environmental right activists have raised the alarm over the continuous environment degradation as estimation puts total value of oil spilled by operators in the Niger Delta at N711bn.  Data obtained by The PUNCH from the Nigerian Oil Spill Monitor, an arm of the National Oil Spill Detection And Response Agency, NOSDRA, revealed that a total of 23, 896 barrels crude oil was spilled by 18 firms last year………..Read More
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