|Economy|
MPC Maintains Status Quo: All eleven members of the Monetary Policy Committee (MPC) who ended their meeting on Tuesday voted to retain the MPR at 13 per cent; retain the CRR on Private Sector deposits at 20 per cent; retain CRR on Public Sector deposits at 75 per cent; and retain the liquidity ratio at 30 per cent. Central Bank of Nigeria governor, Godwin Emefiele yesterday ruled out another possible devaluation of the local currency- at least in the near future- as he told the market that the Naira is ‘appropriately’ priced at this time. Source: BusinessDay

FG Targets N504bn Annually from Textile Exports: The Federal Government on Tuesday in Abuja inaugurated the National Cotton, Textile and Garment Policy with a target to achieve N504bn annually from textile exports. The policy is also expected to raise seed cotton production from 200,000 metric tonnes in 2003 to about 500,000 MT by the end of this year. Source: Punch

|Oil & Gas|
Vandalism Forces Shutdown of $1.1bn Nembe Creek Pipeline: Shell has shut down the Nembe Creek Trunkline (NCTL) facility due to vandalism. The NCTL and the Trans Niger Pipeline (TNP) are the company’s two major pipelines in Eastern Niger Delta that transport crude oil from the company and third parties to the Bonny Export Terminal in Rivers State. Shell’s Media Relations Manager, Mr. Precious Okolobo, confirmed in a statement on Tuesday that the pipeline had been shut down due to a leak in the facility. Source:Thisday

|Power|
Government Provides Guidelines for Power Purchase Agreements: The Federal Government has provided guidelines that power firms are to adhere to in order to efficiently sign Power Purchase Agreements with the Nigerian Bulk Electricity Trading Company. The Minister of Power, Prof. Chinedu Nebo, stated that the PPA was the instrument with which the NBET would manage risks in the electricity market, adding that the initiative had encouraged various foreign investors to invest in the Nigerian power sector. Source: Punch