TOP DAILY NEWS HEADLINES TODAY: 9TH AUGUST 2021

Gas: FG lists conditions for accessing CBN’s N250bn fund

The Federal Government weekend gave conditions under which companies and start-up businesses can access the N250 billion National Gas Expansion Fund set up by the Central Bank of Nigeria, CBN, to boost gas usage in the country. The government disclosed that so far, 77 companies and start-ups have applied to the fund under various categories, adding that the programme hopes to create over three million jobs across the country. To read more, click HERE

Equities gear up for rally as H1’21 corporate results trickle in

Positive sentiments returned to the equities market on the Nigerian Exchange Limited, NGX last week as the gradual release of corporate earnings bolstered buying interests in dividend-paying stocks. Consequently, the All-Share Index advanced by 0.7 per cent Week-on-Week, W-o-W, to close at 38,811.11 points. As a result, the Month-to-Date, MtD gain increased to 0.7 per cent, while the Year-to-Date, YtD, loss moderated to -3.6 per cent as market capitalisation increased by N137.4 billion to N20.2 trillion. To read more, click HERE

Naira strengthens, sells at N508 in parallel market

of Nigeria’s foreign exchange sales window, the local currency firmed up from its initial losses to gaining N7.0 in the parallel market last week. Analysts are projecting further appreciation of the national currency this week. To read more, click HERE

Forex transactions at investors, exporters’ window fall by 17%

Foreign exchange transactions at the Investors’ & Exporters window declined by 17.2 per cent last week, according to FMDQ Securities Exchange Limited. The Central Bank of Nigeria had in April 2017 amid severe forex scarcity created the I&E window in a bid to boost liquidity in the forex market and ensure timely execution and settlement for eligible transactions. The total value of transactions at the I&E window stood at $489.85m last week, representing a decrease of 17.02 percent ($100.49m) from $590.34m the previous week, according to FMDQ Exchange. To read more, click HERE

Petrol landing cost hits N249/litre, deregulation remains uncertain

The landing cost of Premium Motor Spirit (petrol) imported into the country has increased to a new high of N249.42 per litre on the back of high global crude oil prices. The further rise in the landing cost of petrol means increased subsidy as the pump price of the product remains steady at N162-N165 per litre. To read more, click HERE

FG postpones vaccination resumption indefinitely, lists 3,707 cases in seven days

The Federal Government has postponed the administration of the second phase of the coronavirus vaccine doses. The Director of Press, Office of the Secretary to the Government of the Federation, Willie Bassey, had announced on Saturday that the administration would commence on Tuesday. However, in a notice on Sunday, Bassey said the exercise had been postponed due to unforeseen circumstances. To read more, click HERE

Nigeria watches as countries unveil projects for hydrogen economy

The hydrogen economy may be in its very early stages, but most progressive governments are already working to develop projects and bring costs down. The hydrogen economy may be in its very early stages, but most progressive governments are already working to develop projects and bring costs down while Nigeria remains passive despite having a variety of resources to produce hydrogen. Countries like Germany, Saudi Arabia, Qatar, Morocco, South Africa and even Oman have started making significant investments. To read more, click HERE

New Forex Policy May Affect Advertising, Product Prices, Marketing Communication Experts Warn

EXPERTS from the nation’s integrated marketing communications space have said that, besides forcing consumers in Nigeria to pay higher for goods purchased, the new foreign exchange policy of the Central Bank of Nigeria (CBN),  prohibiting the sale of foreign exchange to the nation’s Bureau De Change operators, might also have  telling effects on the advertising industry. In different chats with Brands & Marketing, some of the practitioners described the policy as not well thought-out, since its disadvantages far outweigh whatever benefits the apex bank seeks to achieve. To read more, Cl ick HERE

Lagos Assembly Approves Sanwo-Olu’s Request For Full Ownership Of LCC

Lagos State House of Assembly has granted the request of the State Governor, Mr Babajide Sanwo-Olu for the conversion of the African Development Bank,(AFDB) loan Lekki Concession Company Limited, (LCC) as a privately owned, for the state government to assume full ownership of the company. It would be recalled that the request received from the executive arm, on Monday, 21st June 2021, was committed to Committee on Finance to further look into it and report its findings to the House. To read more, click HERE

UNICEF Seeks Six Months Maternity Leave For Nursing Mothers

The federal and state governments have been urged as a matter of priority to enact laws granting six months maternity leave to nursing mothers to enable them plentiful time to practice breastfeeding. United Nations Children Fund (UNICEF) at a one-day zonal media dialogue to commemorate 2021 World Breastfeeding Week held in Uyo, Akwa Ibom State stressed the importance of exclusive breastfeeding to the child from birth to the next six months (zero water) and even up to two years. To read more, click HERE