1.The
federal government is currently constructing about 118 power projects as pragmatic steps towards tackling the low electricity generation in the country. The 118 power projects spread across the country, are at different stages of completion. Chairman of Nigerian Electricity Regulatory Commission (NERC), Dr. Sam Amadi disclosed this at a monthly breakfast meeting organised by Nigerian-British Chamber of Commerce (NBCC) in Lagos recently.
2.
Online advertising in the Middle East and Africa is forecast to experience a 27per cent compound annual growth rate (CAGR) from 2013 to 2018. This is according to an International Data Corporation (IDC) report titled ‘New Media Market: Internet Advertising Spending in Middle East and Africa in 2013 and 2014-2018’.
3.
Nedbank Group Limited has concluded plans to acquire a 20 per cent shareholding in Ecobank Transnational Incorporated (ETI). Under the scheme of arrangement jointly announced by ETI and Nedbank Group, the latter will subscribe in cash for 4,512,618,890 new ETI shares for $493.4 million.
4. A new report released by the African Development Bank (AfDB) and the International Food Policy Research Institute (IFPRI) says
Africa must embrace agricultural innovations to better compete in an evolving global bio-economy. This report, commissioned by AfDB and prepared by IFPRI, discusses the need to transform Africa’s agriculture sector from one of historically low productivity to one that is a high-potential driver of economic development, drawing on technological and systemic improvements to foster intensification as opposed to extension.
5. The
Securities and Exchange Commission (SEC) said it had concluded plans to inaugurate a 10-year capital market master plan targeted at ensuring the guided growth of the Nigerian capital market in November.
6. In order to improve access to finance for micro, small and medium enterprises (MSMEs) in the country, the
Central Bank of Nigeria (CBN) has approved the collateral registry regulations. The document signed by the CBN Governor, Mr. Godwin Emefiele, a copy of which was posted on the central bank’s website, is also expected to support prudent lending policy in the industry.
7.
First Bank have stated that they are targeting a 10 to 15 percent growth in their loan book going forward. Bisi Onasanya, Group Managing Director and Chief Executive Officer of the bank, who disclosed this also, said the bank has the largest loan book in the Nigerian banking sector.
8.
The board of Flour Mills of Nigeria Plc (FMN) has announced the retirement of Mr. George Stavros Coumantaros, as Chairman, taking effect immediately after the conclusion of the company’s 54th yearly general meeting on September 10. Coumantaros was consequently endowed with the title of Founder/ Chairman Emeritus and remains on the board as a Non-Executive Director for Life.
9.
Unity Bank Plc has partnered with communications service provider, SkyVision Global Networks Limited to ensure seamless connectivity between its branches nationwide.
10. Nigeria’s first one-stop shop for beverages and alcoholic drinks:
www.drinks.ng has said that it has recorded a 100 per cent growth within one year of operation. Founder/Chief Executive Officer of Drinks.ng, Lanre Akinlagun stated this while speaking on the logistics of the online drinks’ portal and the state of e-commerce in Nigeria.
