FG to open Lagos-Ibadan road diversions Dec 15 ….orders relocation of trucks at Ogere

The Federal Government has said all diversions around construction zones on the Lagos-Ibadan Expressway will be opened to motorists from December 15. The Director of the Federal Highways, South-West, Mr Funso Adebiyi, made this known on Monday during his interaction with truck drivers in Ogere, Ogun State. Click here for more.

Buhari assents to the Deep Offshore Act

President Muhammadu Buhari has assented to the Bill amending the Deep Offshore (and Inland Basin Production Sharing Contract) Act. This was disclosed in a series of tweets on the President’s verified Twitter handle. According to the President, this is a landmark achievement as all attempts to amend the law on the distribution of income have failed. Click here for more.

NNPC To Build Two New Refineries

The Nigerian National Petroleum Corporation has said it is in the process of establishing two new 200,000 barrels-per-day condensate refineries to boost in-country refining capacity. Click here for more.

Investors Gain N52.46bn As NSEASI Inches Up By +0.41% To Open The Week Negative

Equities market closed today on a positive note, as NSEASI appreciated by +0.41% to close at 26,401.06 points as against -0.24% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -16.00%. Click here for more.

Debt servicing gulped $1.09bn in nine months – CBN

Nigeria spent $1.09bn on debt servicing between January and September this year, a new report by the Central Bank of Nigeria has indicated.The international payment data by the CBN showed that debt servicing gulped a total of $1.28bn in nine months of 2018. Click here for more.

Experts want monitoring of debtors over rising NPL

The rise in bank’s Non-Performing Loan (NPL) ratio due to huge exposure to some sectors, has become a source of worry to financial experts, as they urge financial institutions to adopt proactive risk management measure. For them, a system whereby the behavior of the borrower is monitored closely to ascertain changes that are likely to trigger default would be necessary. Click here for more.

Brief comparison of telcos’ annual revenue reveals interesting disparities 

The Nigerian Communications Commission (NCC) recently released its 2018 Subscriber/Network Data Report which contains interesting indicators and comparison of the six telecoms operators in Nigeria. Two things caught our attention from the report. Click here for more.

Quoted Companies post N4.2 trillion combined profits since 2015.

Listed companies on the Nigerian Stock Exchange posted a combined profit after tax of about N4.2 trillion between 2015 and 2018. The companies also reported tax expenses of about N804.7 billion during the 4-year period. Total revenues during this period were also N36.8 trillion. Click here for more.

Shipowners want 12.5% tariff on new vessels suspended

Shipowners have called for the suspension of duty on new vessels acquired by Nigerians. The President, Nigeria Shipowners Association, Aminu Umar, stated this in an interview with journalists in Lagos. He regretted that the situation had contributed to the reluctance of shipowners to register their. Click here for more.

South Africa Appoints New Envoys in Drive to Raise $100 Billion

South African President Cyril Ramaphosa appointed three new envoys, including two former ministers, to help with his drive to attract $100 billion in new investment. Click here for more.

China Presses Trump For More Tariff Roll-Backs In ‘Phase One’ Trade Deal

China is pushing U.S. President Donald Trump to remove more tariffs imposed in September as part of a “phase one” U.S.-China trade deal, people familiar with the negotiations said on Monday. Click here for more.