Punch

Domestic transactions fall by N18.48bn in one month:
Domestic transactions in Nigeria’s stock market fell from N59.21bn to N40.73bn between December 2015 and January 2016, the Nigerian Stock Exchanged revealed in a report on its website.

Broadband penetration rose by 4% in 2015 – NCC:
Broadband penetration in the country rose by four per cent to 10 per cent last year, the Nigerian Communications Commission has said.

Thisday

NNPC Reform: GMD to Assume Direct Supervision of NAPIMS:
The Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC) is to take over direct control of the Nigeria Petroleum Investment Management Services (NAPIMS) in line with the ongoing restructuring of the corporation.

Again, National Assembly Pledges Speedy Passage of PIB:
The National Assembly has restated its commitment to the expeditious passage of the Petroleum Industry Bill (PIB) to ensure the restructuring and deregulation of the downstream sector of the oil and gas industry.

Prepaid Meter: Defaulting Discos Blame Forex Scarcity for Failure to Heed NERC Directive:
Electricity distribution companies (Discos) that have failed to comply with the new metering scheme, almost three years after it was introduced by the Nigerian Electricity Regulatory Commission (NERC) to ensure that consumers are not billed based on estimation, have now blamed their failure on lack of access to foreign exchange.

The Nation

APR proposes N1.2b dividend for shareholders:
Africa Prudential Registrars Plc has set aside N1.2 billion to be paid to ordinary shareholders of the company if the proposed final dividend of 43 Kobo per share is ratified at the coming Annual General Meeting.

N11.7b ‘spent yearly on tomato paste’:
The Manufacturers Association of Nigeria (MAN) has lamented that in spite of the availability of land suitable for the cultivation of tomato in the country, N11.7billion is spent yearly on the importation of tomato paste.

Guardian

Garment makers reap benefits of falling Naira:
The fall in the value of the Naira may have turned out to be a fortune for the garment and tailoring industry in the country. Reason: The development has shot up the prices of ready-made imported attires above the reach of an average Nigerian and as such, people now resort to buying materials and taking them to tailors to sew.

Vanguard

OPS needs N5.4trn to diversify economy— Iweta:
The Federal Government has been called upon to inject N5.4 trillion (about $27 billion) every year for the next three years to the private sector in the country.

Devaluation: Nigerian stocks drop 16% since December — Control Risks :
Control Risks Services West Africa has revealed that stocks quoted on the Nigerian stock market has fallen by 16 per cent since December 2015, even as the Central Bank of Nigeria, CBN says that weakening the naira would raise inflation, already close to 10 per cent.

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.