President Buhari Thanks Nigerians
President Muhammadu Buhari has thanked all Nigerians, “Christians and Muslims alike”, for their constant prayers and kind wishes for his health. The President made this known on his Twitter handle, @MBuhari, on Wednesday night, shortly after the Senate President Bukola Saraki; Speaker, House of Representatives Yakubu Dogara and the Senate leader Ahmed Lawan visited him in London.
Fitch Downgrades GT, Zenith, Diamond, And First Bank To Negative
Global rating agency, Fitch Ratings, has downgraded the rating of four Nigerian banks from “stable” to “negative”. The banks are First Bank of Nigeria Limited, Guaranty Trust Bank Plc, Zenith Bank Plc and Diamond Bank Plc. The lender also said it had affirmed the Long-Term Issuer Default Ratings of 10 financial institutions in Nigeria.
MAN Seeks N300BN Pharmaceutical Expansion Fund From FG
Manufacturers Association of Nigeria (MAN) has urged the federal government to stimulate pharmaceutical manufacturing companies in the country with N300 billion so that they can be competitive in the regional and international market. The key players in the industry which is one of sectors hardest hit by dollar scarcity to bring in raw materials used for pharmaceutical manufacturing, are May and Baker, Neimeth, Emzor Pharmaceuticals, etc.
FG To Introduce Firms’ Register To Curb Corruption
The Attorney General of the Federation and Minister of Justice, Abubakar Malami (SAN), has said the Federal Government will soon introduce a register of companies showing the “real” owners of their investments. The spokesperson for the AGF, Mr. Salihu Isah, said in a statement on Tuesday that the plan was in line with the commitment of the President Muhammadu Buhari administration to fight against corruption. Isah said the AGF believed that when implemented, the plan would help to foster the nation’s economic development.
Arik Air To Be Managed By Foreign Airline – AMCON
The Assets Management Company of Nigeria (AMCON) has said foreign airline operators will be engaged to manage Arik Airline.Managing Director of AMCON, Ahmed Kuru said this during a session with the House of Representatives aviation committee on Wednesday in Abuja. He said the agency has started discussing with foreign airlines and the deal will soon be closed.
Naira In Steady Fall At The Parallel Market
The Nigerian currency lost three points at the parallel market to exchange at N510 on Wednesday after closing at N507 on Tuesday, while the Pound Sterling and the Euro exchanged at N625 and N535, respectively. Trading at the Bureau De Change (BDC) window saw the Naira close at N399 to a dollar, while the Pound Sterling and the Euro traded at N626 and N537, respectively.
Price Of Kerosene Rose By 87.12% In January
The National Bureau of Statistics (NBS) said that Nigerians bought kerosene at N434 per litre in January from N231.85 they bought the product in December 2016. The bureau announced this in a “National Household Kerosene Price Watch (January 2017)’’ released on Wednesday in Abuja. The report stated that average price per litre paid by consumers for Kerosene increased by 87.12 per cent year-on-year.
NSE All-Share Index Increases
Activities on the Nigerian Stock Exchange, NSE, closed on a positive trend on Wednesday with the market indicators appreciating by 0.39 per cent. The All-Share Index increased by 98.09 points or 0.39 per cent to close at 25,130.26, compared with 25,032.17 achieved on Tuesday. Also, the market capitalisation, which opened at N8.663 trillion, inched N34 billion or 0.39 per cent to close at N8.697 trillion.
FEC Approves N126BN For The Construction 12 Roads
The Federal Executive Council (FEC) on Wednesday approved N126 billion for the construction of 12 roads. Minister of Power, Housing and Works, Babatunde Fashola disclosed this while speaking with State House Correspondents after the FEC meeting presided over by acting President Yemi Osinbajo. Fashola said the projects were spread across Kano, Bauchi, Adamawa, Kwara, Gombe, Enugu, Kaduna and Bauchi states.
NCC Bans Sim Registration In Open Places
Nigerian Communications Commission (NCC) has banned the registration SIM cards in open and “uncontrolled environment”. Head of Enforcement Unit at the Nigerian Communications Commission (NCC), Salisu Abdu disclosed this on Wednesday while speaking with journalists in Abuja. Abdu said this after three persons registering SIM cards were arrested.