FG earns N232,5bn from Cocoa Exportation

Source: The Punch Thursday March 31 2011

• The Federal Government earned N232.5bn from the exportation of cocoa in the last 2 years
• According to the Cobalt Inspection Services' Annual Reports in 2009, Nigeria earned $662,295,907, while in 2010, the country earned $882,812,813 from exportation of coca products
• This accounted for about 38.5% of the non-oil export for the year 2010

Source: Nigeria Export Promotion Council

Only 3,000 functioning PoS terminal in Nigeria

Source: Businessday Tuesday 23 August 2011

• There are only 3,000 functioning Point of Sales terminals out of the 13,000 existing terminals in Nigeria.

Jonathan sees Agriculture as Economic Booster

July 6, 2011

• N1.3tr spent on Food Importation annually
• Sectoral Analysis shows that on average  in the last 5 years, th agricultural sector contributed about 40% to the GDP and provided 60% of employment - Federal Ministry of Agriculture
• The country spends N635.5 billion on wheat, N365.5 billion on rice, N217 billion on sugar and N96.9 billion on fish yearly

Invitation for Expression of Interest for IT Transformation Consulting Services

e-Commerce: Challenges, Prospects of Online Transactions in Nigeria

As at Jan 31, 2001

• With over 30 million chip/PIN credit/debit cards in circulation nationwide
• With over 10,000 ATMs nationwide
• With over 15,000 PoS terminals deployed across Nigeria
• The e-Payment Providers Association of Nigeria has said the payment card industry in the country is worth over N23.4tn, while monthly ATM transactions are N80bn and payments on PoS terminals, N1.4bn
• Internet usage in Nigeria has grown from 3% in 2006 to 16% in 2009

R. T. Briscoe (Nigeria) Plc - Statement of Unaudited Results for the Half Year Ended 30th June, 2011

FTN Cocoa Processors Ltd - Unaudited Results for 3 Months ended 31th March 2011

Invitation to Pre-Qualify for the Execution of 2011 Capital and Recurrent ICT Project - INEC

United Nigerian Textiles Plc - Unaudited Balance Sheets as at March 31, 2011

Japaul Oil and Maritime Services Plc - Unaudited Income Statement for 6 Months Ended 30-06-2011

Nigerian Agricultural Insurance Corporation - Auditors' Report for the year ended 31st December, 2010

About 3 Million Blackberry Users in Nigeria

The Chief Software Architect, HiiT Plc, Mr Wale Shobajo, says there are about 3 million Blackberry users in Nigeria and the number is still growing (as at November 2010).

Flour Mills of Nigeria Plc - Unaudited Financial Result of the Company for 3 Months Ended 30th June, 2011

Red Star Express - Unaudited Result for the First Quarter June 30, 2011

Access Bank Plc: Statement to the Nigeria Stock Exchange and Shareholders on the Audited Results for the Half Year Ended June 30, 2011

Cement price shoots up 67% as importers' certificates expire

• Nigeria's current cement demand is put at about 17 million metric tonnes per year and total local production for 2010 was 14 million metric tonnes, which leaves a short fall of 3 million metric tonnes, which is augmented by import
• Dangote Cement currently produces 8 million metric tonnes per year and is increasing capacity to 20 million metric tonnes by 2012
• Lafarge Cement WAPCO Nigeria Plc, expects to increase production from 2 million metric tonnes to 4.2 million metric tonnes by 2012
• Ashaka Cement Plc, whic currently produces 1 million metric tonnes
• Unicem - 2.5 million metric tonnes
• Sokoto Cement - 500,000 metric tonnes
• Purecem - 100,000 metric tonnes
• By 2012, the capacity would have moved by 100%, from 14.1 million metric tonnes in 2010 to 28.3 million metric tonnes by 2012
• Source: Ministry of Industry and Commerce
  

Academy Press Plc - Unaudited Profit and Loss for the period ended 30th June, 2011

Staco Insurance Plc - For the Year Ended 31 December 2010

Banks' non-performing loans drop by 62% to N1.1 trillion

• The non-performing loans of Nigerian banks dropped by 62% from N2.9 trillion in December 2009 to N1.1 trillion in December 2010
• The industry's level of delinquent loans to total loans imporved significantly to 16% from 36% in 2009
• The report also disclosed that the banking industry total loans declined by 17% compared with a 3 year annual average growth rate of 76% between 2006 and 2009
• The report also notes that credit penetration in Nigeria remained low at 24.9% of GDP, as at the year end 2010
  

Flour Mills of Nigeria Plc - Unaudited Financial Result of the company for 3 Months Ended 30th June, 2011

National Salt Company of Nigeria Plc - Unaudited Profit and Loss for the Second Quarter Ended 30, June 2011

70% of workers have no pension accounts

By a member of the council of the Certified Pension Institute of Nigeria, Chief Femi Odufowokan

• Less than 30% of the country's population are under one form of retirement benefits or the other
• If more than 60% of the population are unemployed, such a society cannot talk of pension coverage for those set of people.

Guaranty Trust Bank Plc - Audited Results for the 6 Months ended June 30, 2011

Presco Plc - Unaudited Financial Results for the Half Year Ended 30th June 2011

Nigeria Spends N991bn on Rice, Wheat Importation

• The Federal Government disclosed that N991 billion was spent last year for the importation of rice and wheat in the country
• Nigeria spent N635 billion to import wheat and N356 billion to import rice in 2010 alone
• N217 billion was also spent in the importation of sugar and N97 billion on importing fish

CBN to Sanction Erring PoS Operators

• The apex bank pegged the maximum total fee that should be sharged for any Point of Sale (PoS) transaction at 1.25% of the transaction value for a maximum of N2000
• According to the circular, fees charged at PoS terminal transaction shall be distributed thus later:
  
  • Issuer - 30%
  • Acquirer - 32.5%
  • Payment Terminal Owner - 25%
  • Local Switch - 5%
  • Payment Service Aggregator - 7.5%

Nigeria-India Trade Volume Hits $14.6bn

• The trade between Nigeria and India has hit $14.6 billion in 2011
• Nigeria's export to India this year stood at $12 billion, representing a 71% increase, while India's export to Nigeria is estimated to be about $22 billion, with a 58% increase respectively
  

Seme Border: Customs makes 306 seizures, nets N2.8bn

• The Nigeria Customs Service (NCS), Seme Command, has recorded 306 seizures with a duty paid value (DPV) of 340,194,783.00 between January and June this year
• Several seizures of narcotics valued at 405,900.00
• The command was given an annual revenue target of 6 billion with a monthly average of 500 million this year and was only able to collect 2.75 billion instead of N3 billion for the first half of the year
• The command got 349.19 Million in January; 389.82 Million in February; 639.99 Million in March; 303.96 Million in April; 437.46 Million in May; 640.23 Million in June
• Revenue for the first half of the year characterised by massive imports. Duty on rice alone accounted for 20%; iron rod, sugar and cement accounted for 8%; general merchandise accounted for 41.16%. Duty on motor vehicles accounted for 31.84%.
  

Request for Expression of Interest (EOI) for Consultant Interested in Collaborating with the Central Bank of Nigeria to establish Entrepreneurship Development Centres (EDCs) in North-Central, North-East and South-South Geo-Political Zones (Central Bank of Nigeria)

Invitation to tender for the Nigerian Navy 2011 Capital Projects - Naval Headquarters

Central Bank of Nigeria: Request for Submission of Expression of Interest for the drafting of a National Infrastructure Finance Policy

Nigeria banking assets now N17.97trn

• The total assets of the Nigerian banking industry hit N17.97 trillion as at Dec 31, 2010 by Agusto & Co, which is a 12% increase from 2009
• The banking sector gross earnings was N1.7 trillion in 2010 which accounts for 7% of the nation's GDP
• Credit penetration in Nigeria remained low at 24.9% of GDP at year end 2010
• These 3 sectors; manufacturing, oil & gas and importers of consumer goods accounted for about 49% of the industry's consolidated lending
• The banking industry only lent 3% of its total loans to individuals in 2010
• At Dec 2010, the industry's non-performing credits declined from N2.9 trillion in 2009 to N1.1 trillion in 2010
• The real estate sector accounted for 12% of the industry's non-performing loans

Securities and Exchange Commission:- Invitation for Bids

Nigerian Telecoms Statistics: Nigerian GSM @ 10

• In 2010, MTN supposedly generated revenues of about $2.6bn followed by Glo with $1.8bn and Airtel wth $1.6bn
• As at 2010, private investment in telecoms was put at over $25bn while in 1999 investment was no more than $50m
• Over $18bn has been invested in the sector over these ten years
• Total number of internet users has increased from 200,000 in 2000 to 43.98 million in 2010, representing 28.9% of the country's population. This number is the highest in africa and number 10 in world according to Internet World Statistics.
• Annual investment in the country's telecoms industry was in excess of $2bn - CEO, Phase 3 Telecom
• He also said the year-on-year increase of 20 to 30 per cent had been recorded in telecoms investment in Nigeria; adding that the country had also recorded 100% growth in the past six years
• The Landing of the Main One Cable cost $240m
• The Landing of the Glo 1 Submarine fibre cable cost $800m

Stanbic IBTC Ethical Fund - 31 Dec 2010 Result

UAC of Nigeria Plc: Group Results for the Half-Year Ended 30th, June 2011

Conoil Plc: Unaudited First Half 2011 Financial Result

Red Star Express Audit Result for the year ended 31 March 2011