Punch

Loading of petrol improves at depots – Marketers:
Petroleum products’ marketers said on Wednesday that loading of Premium Motor Spirit (petrol) had improved in some depots in Lagos.

Power supply drops by 1,647MW:
Power supply in the country has dropped by 1,647.88 megawatts from 4,447.88MW achieved on February 2, thereby worsening the rationing that the electricity distribution companies have been subjecting consumers to in recent days.

Nigeria loses $21bn oil investment, faces stiff competition:
The Nigerian oil and gas industry, which saw a decline of about $21bn in capital investment in 2015, needs to be repositioned to be able to compete globally for shrinking investment occasioned by the sharp drop in oil prices.

Thisday

USAID Trains 2 Million Nigerian Households in New Farming Methods:
The United States Agency for International Development (USAID) has disclosed that two million Nigerian households are undergoing training on various farming methods in order to increase productivity in farming and moving small-time farmers to commercial level farmers.

NCS Moves against Planned Termination of Remita Contract on TSA:
The Nigeria Computer Society (NCS) has berated the Senate Joint Committee on Finance, Banking, Insurance and other Financial Institutions and Public Accounts, for recommending the termination of the 2013 contract awarded to SystemSpecs by the Central Bank of Nigeria for electronic collection and remittance of government fund, through the Treasury Single Account (TSA).

Vanguard

Firm accuses CBN, NIBSS of suppressing N7.7trn stamp duty revenue :
The School of Banking Honours (SBH) has accused the Central Bank of Nigeria (CBN) and the Nigeria Interbank Settlement System (NIBSS) of suppressing N7.7 trillion Stamp Duty revenues for two years.

Guardian

Daar Communications records N3.4b loss:
Nigeria’s only publicly quoted broadcasting company and pioneer private broadcast medium – Daar Communications Plc, has recorded a loss of N 3.4 billion, the result of the company’s 2013 and 2014 operating years has shown.

Power generation rallies to 4,200MW:
After weeks of plummeting fortunes, the nation’s power generation rose yesterday to 4,200 Mega Watts (MW) from 3,755MW.

Subscriber base of $20b underwriting pool hits 22:
THE $20 billion Energy and Allied Risks Insurance Pool of Nigeria (EAIPN), inaugurated by the Nigerian Insurers Association (NIA) last year, has recorded eight new membership subscribers.

Reuters

MTN sets aside $600 mln for Nigeria fine, FY profit drops:
JOHANNESBURG (Reuters) – South Africa’s MTN Group has set aside around $600 million to cover the potential settlement of a fine in Nigeria, it said on Thursday, as it posted a more than 50 percent drop in annual profit.

The post above and its ensuing comments, if any, is purely the opinion of the writer(s). It therefore should never be considered as an investment advise of any sort. If required, readers should please consult a competent professional financial adviser for any investment decision.