| Thursday, February 13, 2020|
BPE to raise N267bn from privatization of 20 coys
Abuja Bureau Chief The Director-General of the Bureau of Public Enterprises, BPE, Mr. Alex Okoh, has advised against re-nationalisation of the nation’s electricity power assets. He also projected that the bureau would raise N266.9 billion from privatization of 20 companies in order to fund the 2020 federal government budget….read more.
NSE to complete demutualisation process,
Nigerian Stock Exchange All is now set for the final conversion of the Nigerian Stock Exchange, NSE, to a public liability company as the process for the demutualisation of the Exchange would be concluded on April 24…read more.
One billion oil barrels found in North-East, says FG
The Minister of State for Petroleum Resources, Chief Timipre Sylva, said on Wednesday that the nation’s oil and gas sector has worsened as the uncertain fiscal environment put a damper on investment. The minister also disclosed that about a billion barrels of crude oil have been discovered in the North East of the country, adding that a lot of resources remained undiscovered in the country….read more.
Tin Can Customs eyes N47.4bn monthly revenue
Ahead of its official revenue generation quota from the headquarters of the Nigeria Customs Service, the Tin Can Island Command has declared that it is already working towards achieving N540bn this year, at a monthly minimum of N47.4bn….read more.
FG to move petrol, cooking gas by rail
The Federal Government is working to ensure the movement of petrol and cooking gas by rail, the Petroleum Equalisation Fund Board, said on Wednesday. Poor maintenance and vandalism have left many government-owned fuel depots and pipelines idle for years, with the number of tankers on the roads increasing and wrecking havoc…read more.
Stakeholders berate CBN over $17 billion illicit financial flows
Illicit Financial Flows (IFFs) out of Nigeria may not subside unless the Central Bank of Nigeria (CBN), takes a bold step in designing preventive measures and enforcing regulations that would curb commercial banks and individuals arbitrariness engaged in the crime….read more.
No privatisation of refineries, JV assets yet, says BPE
Projects over N266.852b from sale of NIPPs, others. There are no plans yet to privatise Nigeria’s ailing refineries, at least not for the 2020 fiscal year, meaning that the importation of refined products with the attendant subsidy cost, which has eaten up so much of revenue meant for distribution amongst the three tiers of government, will remain….read more.
High performance culture key to sustaining economic, organisational growth
For organisations in Nigeria, especially the financial institutions to grow and drive productivity in the economy, experts have said they must build and sustain a high-performance culture, discipline, and also be able to recognise the importance of employees in achieving their set goals…..read more.
Coronavirus live updates: China’s Hubei reports 14,840 new cases, 242 additional deaths
China’s Hubei province reported an additional 242 deaths and 14,840 new cases as of Feb. 12. The province said it is starting to include “clinically diagnosed” cases in its figures and that 13,332 of the new cases fall under that classification….read more.
First-quarter US GDP may be as low as 1.2% due to coronavirus, but stocks don’t seem to care
A CNBC survey of 11 forecasters over the weekend finds first-quarter GDP estimates averaging just 1.2%, down nearly a point from the fourth quarter. Deutsche Bank shaved 0.3 percentage point off its first-quarter number due to the coronavirus effects and 0.4 percentage point because of Boeing….read more.
Household debt jumps the most in 12 years, Federal Reserve report says
Total household debt balances rose by $601 billion last year, according to the Federal Reserve. Total household debt balances surpassed $14 trillion for the first time. The level of household debt service as a percentage of disposable personal income is at all-time lows going back to 1980….read more.