NIGERIA NEWSPAPERS: TODAY’S THE BUSINESSDAY NEWSPAPER HEADLINES [1ST FEBRUARY, 2018]

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Below are the headlines found on The Businessday Online Newspaper for today, Thursday, 1st February, 2018.

Benefits of oil rally elude Nigeria as NNPC losses mount
Thu, 01 Feb 2018
The inability of the Nigerian National Petroleum Corporation (NNPC) to operate as a fully integrated oil company is taking a toll on its revenue as it recorded mounting losses largely from its downstream operations at a time oil prices have risen to a three-year high. Finance Minister, Kemi Adeosun said on Wednesday that the NNPC…
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Nigeria drops to 97 of 113 countries in rule of law ranking ‘ WJP
Thu, 01 Feb 2018
Nigeria received another slap yesterday after it was downgraded by the World Justice Project (WJP) in its rule of law adherence, dropping one position to 97 out of 113 countries. The WJP released its 2017/2018 Rule of Law Index, which measures rule of law adherence across 113 countries worldwide. Reacting to the latest ranking Clifford… 
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Nigeria fish farming plans flop on policy lapses, smuggling
Thu, 01 Feb 2018
Nigeria’s target of achieving self-sufficiency in fish production is being hampered by Federal Government’s policy lapses and high rate of smuggling, which is making the industry less attractive to investors. Data from the National Bureau of Statistics (NBS) capital importation report show that foreign direct investment (FDI) in the subsector declined by 75 percent year… 
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We have projected 25% return for Nigerian stock market in 2018 ‘ Capital Bancorp
Thu, 01 Feb 2018
Despite the rally observed in the Nigerian equity space in 2017, there remains a pool of untapped potential in the stock market as most of the listed companies still trade at prices below their book value while a few stocks still trade at prices below recommended target price. These are among the views of Capital… 
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Flour Mills reports N19.5bn nine months pre-tax profit
Thu, 01 Feb 2018
The unaudited financials of Flour Mills of Nigeria Plc for the nine months period ended December 31, 2017 shows the group earned N427.5billion, up from N389.9billion in the same period of 2016. The results submitted at the Nigerian Stock Exchange (NSE) show the Group reported operating profit of N44.19billion against N27.26billion in 2016. The group… 
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SUNU buys Equity Assurance Liberia, Ghana
Thu, 01 Feb 2018
AFranco-phone African Insurance Group, SUNU has bought substantial equity (67 per cent) of Equity Assurance Company Liberia Ltd. At the same time, the company has also completed similar acquisition of Equity Assurance Ghana. This represents a total of $1.389, 540 million shares bought by the group. The acquisition has given the SUNU Group presence in… 
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Executive Order: FAAN sustains compliance, improves passenger facilitation
Thu, 01 Feb 2018
Since early last year when the Federal Airports Authority of Nigeria (FAAN) complied with Federal Government directive on Executive Order Policy, which reduced security protocols on international routs, travellers spend less time on queues leading to enhanced passenger facilitation. Executive Order has removed all the bottlenecks that caused delays for passengers, face to face contact… 
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ARC and UN partner to increase insurance coverage in Africa
Thu, 01 Feb 2018
The African Risk Capacity (ARC), an agency of the African Union, and the United Nations Economic Commission for Africa (ECA) have announced a new partnership which will see the two organisations work together to increase insurance coverage against climate risks for African states. The multilateral deal was announced at the African Union’s Annual Summit in… 
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Union Bank, Nokia, Farmcrowdy showcase innovative solutions
Thu, 01 Feb 2018
Over 1000 investors, startups, hardware/software professionals, business developers, policymakers and other key stakeholders in the startup and technology sector recently converged at the Landmark event Centre in Lagos for the 2018 Techpoint Build event. The event, which is a brainchild of the Techpoint.ng team was tagged ‘Using technology to accelerate the nation’s economy’.,…
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AirFrance to increase capacity with newer aircrafts
Thu, 01 Feb 2018
AirFrance KLM has disclosed plans to increase capacity in Nigeria with introduction of newer and bigger aircraft. The airline made this disclosure during its customer appreciation night last week at the Lagos Continental Hotel (former Intercontinental Hotel) Lagos. Speaking during the event, Michel Colleau, General Manager, Air France KLM Nigeria & Ghana said the airline… 
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Phase3 telecom advance call to meet 30% broadband penetration by 2018
Thu, 01 Feb 2018
Phase3Telecom West Africa’s largest independent tier II telecommunications services provider says to achieve the Nigerian National Broadband Plan (NBP) of 30 per cent broadband penetration by end of 2018, there is urgent need to implement programmes for faster ICT growth. Stanley Jegede, Chief Executive Officer observes that through this process, Nigeria will be on track… 
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Still on new pricing methodology, par value of equity securities
Thu, 01 Feb 2018
The Nigerian Stock Exchange (NSE) last Monday commenced the New Pricing Methodology and Per Value of equities securities. The amendments to the Pricing Methodology Rule which are expected to enhance market liquidity and transparency specifies the minimum pricing increments and minimum quantity traded which will change the published price of equity securities listed on the… 
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Domestic investors take shine off foreigners at Nigerian bourse
Thu, 01 Feb 2018
Trading figures the Nigerian Stock Exchange (NSE) polled from major custodians and market operators show that transactions by domestic investors surpassed that of foreign investors in 2017. In 2017, transactions by domestic investors increased to N1.335trillion, while that of foreign investors stood low at N 1.207trillion, according to latest figures from the Broker Dealer Regulation… 
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Med-View posts N1.72bn full year pretax profit
Thu, 01 Feb 2018
Med-View Airline Plc has submitted its management account for the period ended December 31, 2017. The company posted N1.72billion profit before tax (PBT) as against N840.033million in 2016. The airline gross revenue rose to N36.960billion as against N25.962billion in 2016. Gross profit increased to N5.94billion from a low of N4.067billion in 2016. In the full… 
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