Tuesday, June 02, 2020
FG cuts petrol price to N121.50 but could raise risk for marketers
The Petroleum Products Pricing Regulatory Agency (PPPRA) has cut pump price of Premium Motor Spirit (petrol) from N123 to N121.50 per litre for the month of June, but some marketers say frequent movement of prices may impair their ability to hold stock. The PPPRA also announced ex-depot price at N102.13-N104.13 per litre, while it put…Read more
FG opens banks, offices for full operation, airlines to open from 21st June
The Federal government on Monday addressed concerns raised by the organized private sector with relaxation of restrictions on banking operations and worship places, even as it declares that domestic airline operators can now open from the June 21 for businesses. Read more
Marketers groan as FG cuts petrol price to N121.50
Fuel marketers have expressed concerns over the further reduction by the Federal Government of the pump price of Premium Motor Spirit, also known as petrol. The Petroleum Products Pricing Regulatory Agency, in a circular to marketers dated May 31, 2020, announced a new pump price band of N121.50 to N123.50 per litre for petrol. Read more
PFAs shun T’bills, invest N1.6tn in banks, commercial papers
Pension Fund Administrators have gradually reduced investment of pension funds in the Contributory Pension Scheme in treasury bills, findings have revealed. Data obtained by our correspondent from the National Pension Commission revealed that the operators have increased their investments in commercial papers and bank placements. Read more
Govt invites investors to bid for 57 oil fields
The Federal Government, through the Department of Petroleum Resources, has put on offer 57 marginal fields for licensing as part of efforts to develop oil and gas discoveries that had been left unattended to for many years. Read more
FMDQ lists Flour Mills’ N30bn commercial papers
FMDQ Securities Exchange Limited has announced the approval of the quotation of the Flour Mills of Nigeria Plc N10bn Series 13 and N20bn Series 14 Commercial Paper notes. The notes are part of the firm’s N100bn CP Issuance Programme on the Exchange’s platform, according to a statement from FMDQ. Read more
Leadway Assurance pays N38.5bn claims
Leadway Assurance said its claims paid to its policyholders rose from N33.9bn in 2018 to N38.5bn in 2019 financial period. A statement from the firm said this was disclosed during the presentation of the company’s 2019 annual financial results at its 48th annual general Meeting via a virtual platform. Read more
Why insurers adopt online channels during COVID-19 lockdown
To cope with challenges posed by the outbreak of the coronavirus especially in Nigeria, operators in the insurance industry have adopted Information Technology (IT) systems to reach out to more Nigerians for market penetration. Read more
Knocks as stakeholders assess Buhari one year after
With the unprecedented lull witnessed in the nation’s stock market in the last one year, culminating to a loss in the All-share index increase by 24 per cent, stakeholders have stressed the need for government to position the market at the centre of policy formulation in order to achieve a more vibrant and competitive market. Read more
Nigeria Remains Attractive to Investment, Says Coronation Merchant Bank
Despite the uncertainties in economy due to the impact of the COVID-19, Coronation Merchant Bank Limited remains optimistic about investment opportunities in the country. Read more
DHL to Grow e-Commerce in Africa
DHL Express has announced its minority stake acquisition in Link Commerce, the UK-based e-commerce firm that helped the logistics company develop its hugely successful DHL Africa eShop platform. Read more
PWAN Plus Tickles Thirst Buds of Aba Real Estate Consumers
There is definitely no dull moment for real estate guru and Managing Director of PWAN Plus Business Concerns, Julius Oyedemi. Not even the economic challenge of the time is enough to stunt his creative prowess, marketing fecundity and innovative real estate products. Read more
