Today’s Businessday Newspaper Headlines Tuesday 2nd April 2019

Today’s Business Day Newspaper Headlines

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Oil majors rush to Permian basin starves Nigeria of investment dollars
Tue, 02 Apr 2019
The giddy rush by International Oil Majors to buy stakes in the Permian basin, the world’s second biggest oil field located in the United States, is resonating in Nigeria in the form of dwindling investment dollars. Nigeria has been responding in a cavalier manner, seizing their assets as in the case of Shell’s OML 11 []
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BUY OR SELL OLD AND NEW CARS, PARTS, CAR MATERIALS AS CAR MART NG LAUNCH IN NIGERIA

Why it is important to deepen cloud adoption in Nigeria
Tue, 02 Apr 2019
With digital transformation becoming the driving force behind organisational strategies across the continent ‘ Nigeria is no different. With the country recently emerging from its first recession ‘ businesses have been forced to review IT strategies and spend ‘ leading to an increased awareness for improved cloud adoption. With this wave has come the need []
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Investors won’t lose money in Nigeria’s gas commercialisation programme ‘ Derefaka
Tue, 02 Apr 2019
Bidders in Nigeria’s gas flare commercialisation programme, will have the flexibility of choosing which flare site to bid for, how much they wish to buy the flared gas from a floor price of $0.25c/1000scf, the end market or gas product, as well as the technology to be used, Justice Derefaka, program manager of Nigeria Gas []
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Investors expect lower rates as CBN conducts first Q2 T-Bills auction Thursday
Tue, 02 Apr 2019
The Central Bank of Nigeria (CBN) will on Thursday auction Treasury Bills worth N95.68 billion in its first Primary Market Auction (PMA) for the second quarter of 2019, with investors anticipating a lower stop rate. Investors expect a stop rate bid range of between 10.00 percent and 10.20 percent compared with the last stop rate []
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How should the military engage citizens in a democracy
Tue, 02 Apr 2019
Contemporary military personnel worldwide, belong to a profession as observed by Samuel Huntington in his book The Soldier and the State: The Theory and Politics of Civil-Military Relations. The noble profession is soldiering. Looking at the roles of the military since the existence of humanity, it is not in doubt that these men and women []
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Norway’s state owned Equnior is investing in battery technology fund, why shouldn’t NNPC
Tue, 02 Apr 2019
The rise of cheap renewable energy is starting to upend the bottom lines of fossil-fuel companies world over; while Nigeria National Petroleum Corporation (NNPC) has being relatively quiet with renewable energy, its counterpart Norway’s state-owned Equinor is planning to invest in a $180 million fund for battery and related technologies. The investment is a major []
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IXPN expands to become regional exchange point for West Africa
Tue, 02 Apr 2019
With the support of the African Union Commission, the Internet Exchange Point of Nigeria (IXPN) has expanded to become a regional internet exchange point for West Africa. With many IXPs in Africa exchanging intra-country traffic locally and intra-regional traffic being exchanged regionally, this will reduce the latency and save costs by eliminating the international transit []
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Oando profits up 46% to N28.8bn in FY 2018
Tue, 02 Apr 2019
Oando plc has once again demonstrated its ability to deliver good results and create value for shareholders. The indigenous oil company on Friday, March 29, published its financial results for the full year ended December 31, 2018. Despite a challenging local environment, Oando was able to maintain a trend by posting positive results for the []
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Buhari’s second term to prioritise power, transport infrastructure
Tue, 02 Apr 2019
Improving power distribution and transport infrastructure will be the key focus areas of the second term of President Muhammadu Buhari, BusinessDay has learnt through notes from high-level meetings with senior government officials, the Central Bank and the Debt Management Office. Consequently, the Federal Government has agreed to raise electricity tariffs to make them more cost-reflective. []
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Fashola urges ‘tough choices’ to launch Nigeria on economic prosperity
Tue, 02 Apr 2019
Nigerias minister for power, works and housing, Babatunde Fashola, ‘said Nigeria and the African continent must embrace tough choices that must see them join global leagues of nation in economic prosperity. Fashola, who made the submission at the new global partnership for Africas development, at the Harvard Kennedy School, on Saturday in the United States []
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Downstream woes revealed by negative stock returns in 10yrs
Tue, 02 Apr 2019
Listed companies in Nigeria’s downstream oil and gas sector have recorded negative returns in the last 10 years compared to their peers in other sectors, pointing to a myriad of challenges bedevilling the sector. While firms operating in the financial services, agriculture, Fast Moving Consumer Goods (FMCG) and other sectors have seen their share price []
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Stock market activity declines by more than 50 percent year-on-year in Q1 2019
Tue, 02 Apr 2019
Stock market turnover for the first quarter of 2019 fell by around 52 percent in volume and value as the elections which held in the middle of the first quarter weighed heavily on stock market performance. Based on data compiled from the Nigerian Stock Exchange (NSE), the total volume of trades in Q1 fell from []
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SEC is implementing over 70% of master plan initiatives ‘ DG
Tue, 02 Apr 2019
Securities and Exchange Commission (SEC) says it has commenced implementation of 66 out of the over 90 initiatives outlined in the Capital Market Master Plan, 13 of which had been successfully completed. Mary Uduak, SEC’s director-general, said this in a statement signed by the commission’s head of media, Efe Ebelo, on Sunday in Abuja. According []
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