FG seeks $6.8bn AfDB loans to resettle IDPs in N/easts

Council, FEC, approval of $6.8 million loan from African Development Bank (AfDB) to finance inclusive service delivery and livelihood empowerment integrated program for rebuilding of the devastated North-east region. This is even as the Chief of Army Staff, Lt. Gen Tukur Buratai has requested for the sum of N472.8 billion for the army to fight insurgency in the 2019 fiscal year. Click here for more.

Nigeria’s Economy Slipping, Says World Bank

The bank, in its latest report on the regional economy titled, ‘Africa’s Pulse’, released the taxonomy of growth performance in sub-Saharan Africa, which focused on the macroeconomic and financial features that led to growth resilience on the continent. Click here for more.

NERC Outlines Charges For Meters

Nigerian Electricity Regulatory Commission, NERC, has issued permits to Abuja Electricity Distribution Company Plc, AEDC, and Jos Electricity Distribution Company Plc, JEDC, under its Meter Asset Providers (MAPs) and ordered rollout of meters from May 1, 2019. Click here for more.

FIRS To Charge VAT On Lottery, Betting, Automate Collection

The Federal Government yesterday announced plans to charge Value Added Tax VAT, on lottery and gaming activities and automate collection from operators in the Lottery sector.  Click here for more.

Stock investors lose N170bn, market cap falls below N11tn

The nation’s stock market opened the week on a bearish note as investors lost N170bn on Monday. The equities market, which lost N343bn on four trading sessions last week, saw its market capitalisation drop from N11.124tn on Friday to N10.954tn on Monday. Click here for more.

Funding For CBN Wholesale FX Auction Pressures Short Term Rates Higher

The T-bills market traded on a relatively quiet note, with yields slightly higher by c.5bps, as market liquidity was further tightened due to funding for a wholesale FX auction by the CBN. We however witnessed slight buying interests on some short and mid tenured maturities. Click here for more.

Firm asks SEC to stop MTN from listing shares on stock market

The law firm of Charles Mekwunye and Co has asked the Securities and Exchange Commission (SEC) to immediately stop telecoms firm, MTN from listing it shares on the Nigerian stock market.The law firm, in a letter dated March 18, 2019 stated that MTN cannot list its shares on the Nigeria stock market due to an ongoing suit before the Supreme Court over the massive divestment of its assets. Click here for more.

Shell Unveils $15b Five-Year Investment Plan

Its Managing Director, Osagie Okunbor, broke the news at the second edition of the Nigerian Oil and Gas Opportunity Fair (NOGOF) organized at the weekend by the Nigerian Content Development and Monitoring Board (NCDMB) in Yenagoa, Bayelsa State. Click here for more.

EU to Launch €30m Power Finance Scheme in Nigeria

The European Union (EU) and All On – an impact finance outfit, would launch a €30 million worth of electrification financing initiative for off-grid and commercial and industrial captive power projects in Nigeria, organisers of the upcoming fourth Nigeria Energy Forum (NEF 2019) have disclosed. Click here for more.

Oil rises above $71 as Libya civil war threatens supply

The international oil benchmark, Brent crude, extended its gains on Monday, rising to a five-month high. Brent, against which Nigeria’s crude oil is priced, hit a high of $70.86 per barrel, with instability in Libya raising the prospect of further supply constraints at the same time that the Organisation of Petroleum Exporting Countries has made cuts to production. Click here for more.

Are You Ready to Change Your Target Customer?

Successful businesses know exactly who their target customers are. They strive to cater to specific and strategic customer needs. They focus on the most important customers to the business, and sometimes even refocus on a more lucrative target market. But it’s not uncommon for even successful businesses to become unfocused as they seek to grow by catering to a broadening spread of customer demands. Click here for more.