In the news: CBN sees further growth in economy

By September 14, 2017Research

In the news: CBN sees further growth in economy

Punch

NNPC to shut refineries for maintenance

The Nigerian National Petroleum Corporation will soon shut down three of its four refineries, according to the Group Managing Director, Dr. Maikanti Baru, has said.

BEDC, others sign MoU on 20MW power plant

The Benin Electricity Distribution Plc has announced the signing of a Memorandum of Understanding with Thames Energy Limited and the Delta State Government on the construction of a 20 megawatts power plant in the area.

Food/beverage stocks appreciate by 1.14%, market gains N23bn

Food/beverage stocks soared by 1.14 per cent on Wednesday, thus emerged the top-performing stocks as the Nigerian Stock Exchange capitalization appreciated by N23bn.

Naira weakens to 367/dollar

The naira weakened to 367 per United States dollar at the parallel market on Wednesday, after closing flat at 365/dollar in the past one week.

No lifting from Lagos oil field in Q2 – Report

One of the joint venture partners in Aje field, offshore Lagos, said there was no oil lifting from the field in the second quarter of this year.

The Nation

CBN sees further growth in economy

As the country exits recession, the Central Bank of Nigeria (CBN), said the economy will continue to improve in the days and years ahead.

NBS: Nigeria’s Q2 merchandise exports hit N3b

The National Bureau of Statistics (NBS) said  Nigeria’s total export value stood at N3,102 billion in the second quarter, representing a marginal increase over the first quarter.

Nigeria to undertake over 50% fabrication, integration in IOCs’ projects

About 50 per cent of the fabrication and integration of topsides of the floating, production, storage and offloading (FPSO) vessels of Nigerian Agip Exploration Limited (NAE)’s and Shell Nigeria Exploration and Production Company (SNEPCO)’s Zabazaba deepwater project and the Bonga South West Aparo (BSWA) deepwater project will be done by Nigerians.

This Day

Dangote Cement Confirms Bid for PPC of South Africa

Dangote Cement Plc, which is the most capitalised company listed on the Nigerian Stock Exchange (NSE), confirmed that it plans to acquire the entire share capital of PPC Limited-South Africa’s leading cement firm.

Nigeria to Ban Importation of Dirty Petrol, Diesel December 1

Nigeria, Togo, Ivory Coast and Benin Republic are expected to implement rules banning imports of petrol and other products with high sulphur content from December 1, 2017, after missing earlier deadlines.

Guardian

Oil production dips to 1.3mbd over vandalism, says NNPC

An average of 700,000bpd of crude oil was deferred in 2016 due to pipeline sabotage, this brought Nigeria’s production down to as low as 1.3 million barrels per day from 2.2 million barrels targeted for the period.

Quality credit data management needed to tackle over N2tr NPLs

With over N2trillion of non-performing loans (NPLs) in the nation’s financial services sector, stakeholders have advocated the promotion of effective credit risk operations through the deployment of quality and robust credit data management.

Reuters

Nigeria unlikely to join OPEC cuts before March -oil minister

Nigeria is very unlikely to join OPEC’s cuts in oil production before March, its oil minister said on Wednesday.

Nigeria’s oil production at 1.6 mln bpd excluding condensates –minister

Nigerian oil production, excluding condensates, is running at 1.6 million barrels per day (bpd), the country’s oil minister said on Wednesday.

Nigeria to sell 917.14 bln naira of bills from Sept 14 to Nov 30

Nigeria plans to sell 917.14 billion naira worth of treasury bills between Sept. 14 and Nov. 30, a central bank debt calendar for the fourth quarter showed on Wednesday.

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