Business

Dollars

Naira gains marginally against dollar at parallel market

The Nigerian currency gained 50 kobo to exchange at N358 to the dollar.

Godwin-Emefiele

Central Bank of Nigeria blocks forex for textile importation

The restriction starts immediately and affects all forms of textile and garment importation.

The Murtala Mohammed International Airport

Nigeria air passenger traffic increased by 20 per cent in 2018 – NCAA

34 airlines on the international routes operated 15,645 flights and flew 4, 079, 0789 passengers during the period under review.

Oil rig

Oil drops as China cuts economic growth target

Optimism that the U.S. and China will soon end their bitter trade disputes has offered some support.

Oil spills agency accuses Aiteo of blocking Bayelsa fire probe

The company says it is conducting its own investigation.

Director-General, Debt Management Office, DMO, Patience Oniha

FG offers fresh bonds for March

The two-year bond will be due in March, 2021 while the three-year bond will mature one year after.

Nigerian Stock Exchange (NSE)

NSE: Market indices maintain upward growth, up by 0.95 per cent

The market capitalisation inched N113 billion to close at N11.981 trillion against N11.868 trillion on Friday.

Tankers at a NNPC depot

Nigeria’s foreign trade recorded 4th consecutive rise in 2018 — NBS

The structure of Nigeria’s export trade, valued at N5.02 billion in fourth quarter, 2018, was dominated by crude oil exports.

Minister of Trade and Investment, Okechukwu Enelamah

World Bank GEM Project: Group wants EFCC to probe alleged diversion of $35mn

The group accused the minister of diverting funds and engaging in a series of abuses the anti-graft agency should look into as a matter of urgency.

Oil rig

Oil prices rise on trade deal hopes, OPEC supply cuts

Hopes of an end to the trade spat between the two world’s biggest economies added support to a market that has been rallying for the past two months on cuts to production.

Musikiliu Mojeed, Chief Operating Officer, Premium Times; Bisi Koleoshe, Deputy Chief Operating Officer (Technical), Globacom; Bayo Onanuga, and Managing Director, News Agency of Nigeria, at the presentation of Globacom’s New Business Direction in Lagos on Friday.

In major investments, Globacom moves to shape Africa’s digital fortune, future

Globacom says its mandate remains the building of Africa’s biggest and best telecommunications network.

NBS

Nigeria’s foreign trade volume increases by 39% – NBS

The trade value for 2017 stood at N23.16 trillion.

N170m FIRS Contract Fraud: EFCC, Police deny Zinox ‘clearance’

Police and the EFCC say reports online that the company had been cleared of wrongdoing in the contract scandal did not emanate from them.

Transmission_Lines

TCN records 30,281.04 MW decrease, transmits 98,876.66 MW

The statistics indicate that power generation transmitted dropped by 30,281.04 mw between January 2019 and February 2019.

First-Bank-Of-Nigeria

First Bank marks 125th anniversary, reassures commitment to Nigeria’s development

The bank was established in 1894.

Nigeria Stock Exchange

NSE: Market indices open March with 0.34 per cent growth

The market capitalisation which opened at N11.828 trillion rose by N40 billion to close at N11.868 trillion.

Ibe Kachikwu

Nigeria complied with OPEC production cut in February – Minister

The official says challenges may occur if deeper cuts are required.

Naira notes used to illustrate the story.

Infracredit supports North South Power’s maiden Corporate Infrastructure Bond

Fund Manager, African Local Currency Bond Fund, James Doree, said the maiden corporate green bond in Nigeria sets the benchmark for the domestic and regional capital market.

Court

Court stops computer professional council from forcefully registering members

The judge says the Computer Professionals Registration Council of Nigeria Act (Control and Supervisory Regulation) 2010 did not expect it to be engaging in trivialities.

Naira notes

Naira appreciates against dollar at I&E window

The Nigerian currency exchanged at N360.00 to the dollar from the N361.18 it traded on Wednesday.

Maikanti Baru

Nigeria controls $48bn new oil, gas projects in Africa — Baru

Experts see Africa as bright prospects for Africa’s energy industry.

Nigeria Stock Exchange (NSE)

Presidential election result: Nigeria Stock market loses N196 billion

The All-Share Index lost 525.54 points or 1.63 per cent to close at 31,728.70 when compared with 32,244.24 recorded on Wednesday.

Crude Oil pipelines

Oil dips as U.S. crude production hits record

International Brent crude futures were at $66.20 per barrel at 0525 GMT, down 19 cents, or 0.3 per cent from their last close.

Heavy rain fall used to illustrate the story. [Photo credit: Daily Trust]

Expert warns Nigerian farmers not to be deceived by early rains

Early rains were recorded in many parts of Nigeria this week.

PRESIDENT BUHARI PRESIDES OVER SIGN OF NSEZCOM AND ITS INVESTMENT PARTNERS 0A. President Muhammadu Buhari Speaking during the signing of agreements between Afreximbank, BOI and NSIA with Nigeria Special Economic Zones Investment Company (NSEZCOM) held at the Council Chambers, State House in Abuja. PHOTO; SUNDAY AGHAEZE. FEB 8, 2019

FEATURE: Special Economic Zones as new frontiers for Nigeria’s industrialization

Special economic zones hold much more promise for Nigeria and the rest of the African continent, underlining why the Buhari administration is investing heavily in them