Friday, February 26, 2021
FG Begins Pilot Implementation of Livestock Transformation Plan in Nasarawa
Following a €400,000 funding support from the Netherlands, the federal government has commenced talks with the Nasarawa State government for the kick-off of the pilot implementation of the National Livestock Transformation Plan (NLTP). Read more
Nigerian Brand, JR Farms Acquires 11% Stake in Rwandan Firm
JR Firms, an agribusiness firm with headquarters in Nigeria, has announced partnership with Sanit Wing Rwanda through the acquisition of 11 per cent stake in the company. The CEO of the company, Mr Rotimi Olawale, explained in a statement that the partnership was in furtherance of its goals to ensure food security, create decent jobs and raise the next generation of agrarian leaders in Africa. Read more
Analyst Predicts Weak Growth for Airlines
Industry consultant and CEO of Aglo Limited, Tayo Ojuri has predicted that Nigerian airlines would record weak profit in 2021, due to the weakness of the marco-economy. Ojuri said this in a telephone interview with THISDAY. He identified three factors that would hinder the ability of the airlines to post healthy profit. Read more
N10.7tn spent on fuel subsidy in 10 years – MOMAN
Nigeria spent a total of N10.7tn on fuel subsidy in the last 10 years, the Chairman, Major Oil Marketers Association of Nigeria, Mr Adetunji Oyebanji, has said. Oyebanji, who was the guest speaker at the 18th Aret Adams Lecture on Thursday, said N750bn was spent on subsidy in 2019. Read more
FMDQ approves Valency Agro’s N5.12bn commercial paper
FMDQ Securities Exchange Limited has announced the approval of the quotation of the Valency Agro Nigeria Limited N5.12bn Series 1 Commercial Paper under its N20bn CP Programme on its platform. The Exchange said in fostering the development of the Nigerian debt capital markets, it had continued to avail its credible and efficient platform as well as tailor its listings and quotations services to suit the needs of issuers and registration members through innovative and uninterrupted service delivery. Read more
Electricity consumers get 611,231 meters under MAP scheme
A total of 611,231 meters have been deployed as at January 31, 2021 under the Meter Asset Provider initiative since its full operation despite the COVID-19 pandemic and other extraneous factors, the Nigerian Electricity Regulatory Commission has said. NERC disclosed this in a consultation paper on the review of the MAP Regulations. Read more
Nigeria engages other countries as OPEC moves to ease production cut
As Nigeria engages key African countries ahead of the Organisation of Oil Exporting Countries and allies ((OPEC+) meeting due next week, indications emerged yesterday that the cartel may consider a reduction of the over seven million barrels per day suppressed crude to stabilise the price of crude oil. Read more
FG to expand national grid size, leverage hubs for gas pricing
The Federal Government, through the Nigerian National Petroleum Corporation (NNPC), has announced plans to increase the size of the national grid by leveraging the country’s 203.16tcf gas potential in order to resolve lingering power sector issues nationwide. Read more
