The Federal Government has insisted that power generation in the country increase by about 40 per cent in the recent times, according to the Minister of Power, Prof. Barth Nnaji. Nnaji disclosed this to newsmen in Lagos when he commissioned the Egbin Power Plant Gymnasium Centre, saying, “Since the Jonathan led administration can into power, power supply has increased by 40 per cent and this is a tremendous achievement on the part on the part of the president and the government to have increased power supply.”

Demand for government securities exceeded supply by 218 per cent with investors demanding for higher interest rate. Last week, Central Bank of Nigeria (CBN) offered N149.650 billion worth of three variant of fresh securities (primary market bills).

NIGERIA Employers’ Consultative Association, NECA, has called on Small and Medium Enterprises, SMES, in Nigeria to tap into the business opportunities in the Oil and Gas sector, saying from the N888 billion provision made by the Federal Government to subsidize importation of fuel, a new set of billionaires will emerge in the country.

Ahead of full adoption of the International Financial Reporting Standard (IFRS) by quoted companies, the Securities and Exchnage Commission (SEC) said it is partnering with the World Bank to give adequate capacity training to managers of companies to equip them for successful migration.

Managing Director/ Chief Executive of Nigeria Breweries (NB) Plc Mr. Nicolaas Vervelde has charged its major distributors and transporters on a better market place performance which will result on increased returns in their businesses.

European Union has commenced the construction of a joint border post between Nigeria and Republic of Benin at Seme, saying it is their biggest commitment towards facilitating trade in the region.

The planned sale of Federal Government of Nigeria, FGN, bonds valued at N70 billion by the Debt Management Office, DMO, is expected to engender a slowdown in demand in the bond market this week, says analysts at Dunn Loren Merrifield.

The Bureau of Public Enterprises, BPE, has said it will open the financial bids of prospective investors for the privatisation of the successor companies created from the Power Holding Company of Nigeria, PHCN, between September 25 and October 10, 2012.

The Minister of Power, Prof Bart Nnaji, has said that the electricity tariff in Nigeria will not go up by 88 per cent.

Vono Products Plc said it intends using proceeds from its N840 million recapitalization exercise to strengthen its operations and pursue its expansion programme, even as the company disclosed that it will return to profitability by the end of the current financial year.