NIGERIAN BANKS WILL COLLAPSE IF POWER FIRMS FAIL – DISCOS
Most Nigerian banks will collapse if power generation and distribution companies fail, electricity distributors have warned.

They also stated that despite the problems in Nigeria’s power sector, the Minister of Power, Works and Housing, Babatunde Fashola, had not met with investors in the distribution arm of the industry since 2015.

Speaking during a live television programme on Saturday, which was monitored by our correspondent in Abuja, the Executive Director, Research and Advocacy, Association of Nigerian Electricity Distributors, Sunday Oduntan, said the power sector was not working despite being privatised.
Read more at; https://newsbreakers.ng/nigerian-banks-will-collapse-if-power-firms-fail-discos/


POLITICAL TURBULENCE TRIGGERS MORE EQUITY SLUMP IN NIGERIA
Turbulence in the political arena has sparked massive dumping and induced sell pressure on the equity sector of the Nigerian Stock Exchange as stock market investors lost N257 billion or 2.2 per cent at the close of transactions on Friday.

Analysts perceive there would be continued selloffs in the absence of any near-term positive trigger. They noted that the tense political environment would keep dampening investors’ confidence and aggravate more sell pressure.

The market capitalisation of listed equities tumbled significantly to close at N12,941 trillion from Thursday’s N13,228 trillion. The All Share Index (ASI) suffered the same fate, losing 786.19 points from 36,232.47 to 35.446.47.
Read more at; https://newsbreakers.ng/political-turbulence-triggers-more-equity-slump-in-nigeria/



WIZKID OPENS STARBOY, MADE IN LAGOS POP-UP STORE IN NEW YORK
Nigerian singer Ayodeji Balogun, popularly known as Wizkid has announced that his New York City’s Pop-Up store is now open for business.

The self-styled StarBoy who intends using the store for his clothing line and merchandise revealed this on his social media page.

The new store was launched on Saturday the 11th of August 2018 with Wizkid showing up to meet with fans and friends.
Read more at; https://newsbreakers.ng/wizkid-opens-starboy-made-in-lagos-pop-up-store-in-new-york/



MAYORKUN RELEASES TWO NEW SINGLES TITLED, POSH AND FANTASY
Award-winning music star Mayorkun has just unlocked two new singles titled; ‘Posh’ and ‘Fantasy’.

The DMW Music label star aims to conquer once again with his latest single Posh; An audacious number produced by NorthBoi, featuring all the elements of a massive afro-pop smash and a provoking performance fated to get the party started.

Posh is a dance tune that is geared to get on the playlists this week.
Read more at; https://newsbreakers.ng/mayorkun-releases-two-new-singles-titled-posh-and-fantasy/



LAGOS LIGHT RAIL TO BEGIN OPERATION IN 2022
The Lagos State Government has announced that its light rail project running between Mile 2 and Marina will commence passenger operation in 2022.

The mass transit rail project called the Blue Line awarded to China Civil Engineering Construction Corporation had suffered many delays due to the paucity of funds and other challenges.

But the state government said on Sunday that after a comprehensive review of the project, it had approved a roadmap proposed by its consultants to complete the civil infrastructure as well as the operation and maintenance infrastructure needed for the commencement of passenger operation in 2022.
Read more at; https://newsbreakers.ng/lagos-light-rail-to-begin-operation-in-2022/

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