Economy

Business Travel Tips For Nigerians This 2017

Published

9 years ago

05/01/2017

Modupe Gbadeyanka

By Nkem Ndem

Business travel is inevitable for most people in the Nigerian workforce. Aside from the fact that it contributes a lot to the economy and GDP of the country, it opens doors for the individual businessman or woman, opportunity seeker, and small scale business person or business owner.

In Nigeria, however, many companies view business travel simply as an expense and do not see the benefits that come from it. They, therefore, budget very little for it, making the trip in itself extremely tedious for the employee who gets the assignment to embark on the journey. The truth is, no matter the budget or destination, any Nigerian can survive a business trip by following certain rules. Jumia Travel offers 5 tips to aid Nigerians who regularly find themselves on the move for business.

Ensure you draft a packing list, and use it at all times

As a traveller, you already know what is essential to your trip and what is dispensable. However, before you set out on your journey, ensure you make a checklist where you include every item you will be travelling with, including personal documents and gadgets. This helps you remain organized and there is a very low risk of forgetting anything you need for the trip, or leaving it behind at your hotel. You really do not need to download an app or use software to do this; a pen and paper will suffice. Good thing is that once you make the list, you can always use it for every other business trip, only updating it where necessary.

Be punctual

Although some business trips might be impromptu, most are usually scheduled with ample time to make pre-arrangements. Do not leave your travel arrangements to the last minute and if the office is making the arrangements for you, ensure you follow up, making sure they keep you updated. Try and book your flight in advance. And on the day of the trip, get to the airport on time; check in on the way if you can, that way you limit every chance of missing your flight and dealing with the complications of a cancellation. Also ensure that you call ahead to notify the hotel and the car rental, and if you are being picked up by business partners at your destination, an early or scheduled arrival gives a good impression and hence a good start.

Make sure you keep your devices charging

When you are on the road, your devices should remain charged as they are what keeps you connected to your office and the contacts at your destination. Also, in this era of laptops and iPads, most of our information are stored as files on these gadgets. Charge these devices to full capacity before you set out on the trip, and even while on the trip, carry a travel charger and look out for ports where you can plug in and keep them charging. A great idea will be to pack a power bank which is very portable. Also, you can travel with extra batteries.

Stay on top of your expenses

When you are on business trip, usually your expenses are catered to by the office management. In most cases, there will be a budget while in other cases you would be asked to bring back a list of costs insured for reimbursement. Whatever the case, it is important to stay on top of your expenses. The office will not reimburse you for everything. Take a small jotter to record your expenses and ensure you write on the back of each receipt where you were or the reason for the expense. Keeping track of all your purchases and expenses will help you stick to your budget and will make writing a report easier.

Ignore the minibar and room service

The minibar poses a huge temptation for most business travellers as it is usually easy to just reach into the fridge and snack on something while working. But the thing about most minibars is that the price of the items in the minibar is highly inflated and never worth the convenience. Even the room service comes at an extra charge and also deprives you the chance to stretch your legs and drink in the ambiance of the hotel surroundings. The fact that you are on a business trip, does not mean you are confined to the hotel. Forget the minibar and room service, go out to local restaurants and stores far away from your hotel, mingle with others and explore in your free hours. Rather than spend more in the hotel, you will gain enriching experiences that you can share with your colleagues upon your return to the office.

Nkem Ndem is a PR Associate at Jumia Travel.

Economy

Seven Price Gainers Boost NASD OTC Bourse by 2.19%

Published

1 day ago

21/02/2026

Adedapo Adesanya

By Adedapo Adesanya

Seven price gainers flipped recent declines at the NASD Over-the-Counter (OTC) Securities Exchange, raising the alternative stock market by 2.19 per cent on Friday.

According to data, the market capitalisation added N51.24 billion to end N2.389 trillion compared with the previous day’s N2.338 trillion, while the NASD Unlisted Security Index (NSI) climbed 85.65 points to close at 3,994.32 points, in contrast to the 3,908.67 points it ended a day earlier.

Business Post reports that the advancers were led by MRS Oil Plc, which improved its value by N13.00 to N200.00 per share from N187.00 per share, FrieslandCampina Wamco Nigeria Plc gained N7.40 to settle at N91.55 per unit versus the previous day’s N84.15 per unit, Central Securities Clearing System (CSCS) Plc appreciated by N6.08 to N71.00 per share from N64.92 per share, Afriland Properties Plc added 66 Kobo to finish at N17.17 per unit versus N16.51 per unit, IPWA Plc rose 37 Kobo to N4.15 per share from N3.78 per share, First Trust Mortgage Bank Plc grew by 11 Kobo to N1.20 per unit from N1.09 per unit, and Food Concepts Plc went up by 10obo to N3.70 per share from N3.60 per share.

On the flip side, there were two price losers led by Geo-Fluids Plc, which depreciated by 28 Kobo to N3.32 per unit from N3.60 per unit, and Industrial and General Insurance (IGI) Plc dropped 5 Kobo to sell at 45 Kobo per share from 50 Kobo per share.

Yesterday, the volume of trades went down by 92.0 per cent to 3.7 million units from 45.8 million units, the value of transactions fell by 59.4 per cent to N84.5 million from N208.2 million, while the number of deals went up by 7.7 per cent to 42 deals from 39 deals.

CSCS Plc remained the most traded stock by value (year-to-date) with 32.6 million units exchanged for N1.9 billion, trailed by Geo-Fluids Plc with 119.6 million units valued at N470.3 million, and Resourcery Plc with 1.05 billion units traded at N408.6 million.

Resourcery Plc closed the day as the most traded stock by volume (year-to-date) with 1.05 billion units sold for N408.7 million, followed by Geo-Fluids Plc with 119.6 million units worth N470.3 million, and CSCS Plc with 32.6 million units worth N1.9 billion.

Economy

FX Demand Worries Weaken Naira to N1,346/$1 at Official Market

Published

1 day ago

21/02/2026

Adedapo Adesanya

By Adedapo Adesanya

The Naira weakened further against the United States Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Friday, February 20, by N4.97 or 0.37 per cent to N1,346.32/$1 from the N1,341.35/$1 it was transacted on Thursday.

Heightened FX demand tilted the market toward the downside yesterday, exerting upward pressure on rates despite efforts by the Central Bank of Nigeria (CBN) to stabilise the foreign exchange market.

Also in the official market, the domestic currency depreciated against the Pound Sterling during the session by N9.39 to sell for N1,815.25/£1 versus the previous day’s N1,805.86/£1, and lost N7.33 against the Euro to close at N1,584.62/€1 compared with the preceding session’s N1,577.29/€1.

The story was not different for the Nigerian Naira at the GTBank FX desk, where it depleted against the Dollar by N7 on Friday to quote at N1,356/$1 versus the N1,349/$1 it was sold a day earlier, but remained unchanged in the black market at N1,370/$1.

It was observed that risky sentiment among Foreign Portfolio Investors (FPIs) contributed to the FX market, amid fears of hot money flight due to capital gains tax and other factors.

As for the cryptocurrency market, it was mostly green yesterday in reaction to a Supreme Court verdict dismissing a fresh 10 per cent global levy by President Donald Trump.

The apex court on Friday described Mr Trump’s global tariff rollout as illegal. The decision did not clarify what should happen to tariff revenue already collected, and it doesn’t necessarily spell the end of the trade agenda, with multiple legal and executive avenues still available.

Litecoin (LTC) grew 2.7 per cent to $55.00, Cardano (ADA) appreciated 2.6 per cent to trade at $0.2815, Binance Coin (BNB) expanded by 2.6 per cent to $627.19, Dogecoin (DOGE) recouped 1.3 per cent to quote at $0.1, Ripple (XRP) jumped 0.7 per cent to $1.43, Solana (SOL) improved by 0.5 per cent to $84.15, and Ethereum (ETH) soared 0.1 per cent to $1,962.78.

However, Bitcoin (BTC) lost 0.2 per cent to sell for $67,850.49, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) traded flat at $1.00 each.

Economy

Fidson, Jaiz Bank, Others Keep NGX in Green Territory

Published

1 day ago

21/02/2026

Dipo Olowookere

By Dipo Olowookere

A further 0.99 per cent was gained by the Nigerian Exchange (NGX) Limited on Friday after a positive market breadth index supported by 53 price gainers, which outweighed 23 price losers, representing bullish investor sentiment.

During the trading day, the trio of Jaiz Bank, Fidson, and NPF Microfinance Bank chalked up 10.00 per cent each to sell for N11.00, N86.90, and N6.27, respectively, while Deap Capital appreciated by 9.96 per cent to N7.62, and Mutual Benefits increased by 9.94 per cent to N5.42.

Conversely, Secure Electronic Technology shed 10.00 per cent to trade at N1.62, Sovereign Trust Insurance slipped by 9.73 per cent to N2.32, Ellah Lakes declined by 7.91 per cent to N12.80, International Energy Insurance retreated by 5.56 per cent to N3.40, and ABC Transport moderated by 5.26 per cent to N9.00.

Data from Customs Street revealed that the insurance counter was up by 2.52 per cent, the industrial goods sector grew by 2.28 per cent, the banking space expanded by 1.43 per cent, the consumer goods index gained 1.23 per cent, and the energy industry rose by 0.05 per cent.

As a result, the All-Share Index (ASI) went up by 1,916.20 points to 194,989.77 points from 193,073.57 points, and the market capitalisation moved up by N1.230 trillion to N125.164 trillion from Thursday’s N123.934 trillion.

Yesterday, investors traded 820.5 million stocks valued at N28.3 billion in 63,507 deals compared with the 898.5 million stocks worth N38.5 billion executed in 61,953 deals, showing a jump in the number of deals by 2.51 per cent, and a shortfall in the trading volume and value by 8.68 per cent and 26.49 per cent apiece.

Closing the session as the most active equity was Mutual Benefits with 79.0 million units worth N427.1 million, Zenith Bank traded 44.0 million units valued at N3.8 billion, Chams exchanged 43.9 million units for N182.0 million, AIICO Insurance transacted 42.4 million units valued at N179.8 million, and Veritas Kapital sold 36.0 million units worth N90.6 million.