|Economy|
Emefiele Rules Out Naira Float: Godwin Emefiele, the Governor of the Central Bank of Nigeria (CBN),  said on Tuesday he would not allow the naira to float freely because it would lead to “major” depreciation of the currency. A weaker currency would affect the purchasing power and economy of Africa’s most populous nation. Source: Businessday

|Banking|
AMCON Transfers Enterprise, Mainstreet Banks to New Owners: The Asset Management Corporation of Nigeria has transferred the ownership of Mainstreet Bank Limited and Enterprise Bank Limited to their new owners, Skye Bank Plc and Heritage Bank Limited, respectively. At the divestment ceremony, Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, warned against a reoccurrence of the factors which led to the takeover of the three bridged banks, namely Mainstreet Bank, Enterprise Bank and Keystone Bank Limited. According to him, if the bridge bank option had not been adopted in 2011, the systemic crisis in the banking sector would have been unprecedented and costly in terms of its effects on other banks. Source: Punch

|Power|
Total Completes Gas Pipeline for Alaoji Power Plant:  Total Exploration and Production Nigeria Limited on Tuesday announced that a section of its Northern Option Pipeline that would supply gas to the National Integrated Power Plant at Alaoji in Abia State had been completed. According to the firm, the pipeline, which stretches from Kilometre 38 at Obigbo to Kilometre 50 at Imo River, will boost gas supply to the power plant, a development that will increase the country’s power generation capacity. Source: Punch

Power Generation Drops by 2,042MW: The country is currently losing 2,042.2 megawatts of electricity due to gas supply shortage and poor water management. The 411 G2 and G4 units of the Shiroro hydro power plant are currently losing 300MW, while the loss of 1,742.2MW is attributed to gas supply shortage at various legacy gas-fired power plants, including the National Integrated Power Project plants. Source: Punch

|Oil & Gas|
Oil Price Recovers as Dollar Weakens Against Euro: Oil prices steadied above 48 dollars a barrel on Tuesday, recovering from earlier losses as the dollar weakened against the euro. Brent crude oil futures rose 22 cents to 48.38 dollars a barrel. U.S. West Texas Intermediate (WTI) crude futures rose 10 cents to 45.25 dollars a barrel. Source: Businessday