Friday, March 19, 2021
DMO Lists N162.557 Billion Sovereign Sukuk on NSE
The Debt Management Office (DMO) yesterday listed the N162.557 billion, 7-year, FGN Ijarah Sukuk with a rate of 11.2 per cent on the floor of the Nigerian Exchange (NGX) Limited. The third Sovereign Sukuk was issued on June 16, 2020, and will finance the rehabilitation and construction of key economic road projects across the six geopolitical zones in the country. Read more
SON Issues Ultimatum to Steel Manufacturers, Distributors over Standards
In a bid to ensure and improve lives through enforcing standards, the Director General, Standards Organisation of Nigeria (SON), Mallam Farouk Salim, yesterday in a meeting with steel manufacturers and steel distributors, issued a three-month ultimatum on the need to clear out of the markets substandard steel bars. Read more
CBN to issue N570.4m treasury bills in Q2
The Central Bank plans to issue treasury bills worth N570.4m in the second quarter. It disclosed this on its website on Thursday on ‘Nigeria treasury bills issue programme for second quarter’. It also said maturing bills in the period would total N570.4m. The CBN disclosed it would issue N92.05m 91-day bills; N79.65m 182-day bills; and N398.7m 364-day bills during the period. Read more
FG refineries earn N21bn, lose N778bn in five years
The government-owned refineries, being run by the Nigerian National Petroleum Corporation, reported a total loss of N778.71bn from 2015 to 2019, an analysis of data collated from their financial statements has shown. The refineries generated total revenue of N21.12bn in the five-year period as they operated at below their full capacities. Read more
$1.5bn to renovate Port Harcourt refinery suspicious —Atiku
Former Vice President, Atiku Abubakar, has faulted the Federal Government’s approval of $1.5 billion for the renovation of the Port Harcourt refinery. According to him, budgeting the amount for the renovation of a refinery at a critical period of increased unemployment and inflation “would appear to be an unwise use of scarce funds.” Read more
GTBank’s annual profit rises to N238bn
Guaranty Trust Bank Plc has reported a profit before tax of N239.09bn for the 2020 financial year, up from N231.71bn in 2019. GTBank, which released its audited financial statements on Thursday, said its profit after tax rose to N201.44bn last year from N198.85bn in 2019. Read more
Buhari’s aide, others to review AfCFTA risks, rewards
Senior Special Assistant to President Muhammadu Buhari on Public Sector Matters, Francis Anatogu and Chief Executive Officer of MainOne, Funke Opeke, will lead a webinar on ‘the risks and rewards of the Africa Continental Free Trade Area (AfCFTA)’ on March 21, 2021. Read more
Renewed concerns over energy transition, declining oil investment
Oil and gas experts, yesterday, reiterated concerns about Nigeria’s declining investment profile, poor fiscal environment and growing pressure to transit from fossil fuels. Already, funding of activities that ignore environmental impacts is being reviewed, posing a setback to countries like Nigeria that lag behind the transition exercise. Read more
