Economy
Power Investment Summit Holds October In Abuja

By Modupe Gbadeyanka
The Annual Powering Africa: Nigeria Investment Summit will take place from October 12-14, 2016, organisers have confirmed.
The programme will hold in conjunction with the Federal Ministry of Power, Works and Housing as well as the Bayelsa State Government, the Nigeria Electricity Regulatory Commission (NERC), the Electricity Commission of Nigeria (ECN), the Transmission Company of Nigeria (TCN), the National Power Training Institute of Nigeria (NAPTIN) and the Nigeria Investment Promotion Commission (NIPC).
The pre-meeting networking activities including the Powering Africa: Nigeria Golf Networking Day and the pre-meeting evening drinks reception hosted by Detail Solicitors will provide an exclusive relationship-building space prior to the start of the conference.
Delegates are also invited to attend the Gala Dinner hosted in association with the EnergyNet “Off the Grid Club”, a programme dedicated to bringing together credible off grid technology providers, financiers and regional leaders to invest in and develop reliable and scalable power solutions for Africa. The evening will feature vibrant mix of arts and music entertainment, high level speeches and exclusive dining food.
Over 300 senior participants from Nigeria, the Americas, Europe and Asia will represent companies including the International Finance Corporation, FMO, CDC Group, AAPA Energy Ltd., Nexant, NetcoDietsmann, Control Risks, Hannon Capital Partners, Mensah JB & Associates, Jackson, Etti & Edu, Voith Hydro Shanghai Ltd., Rook Solar Investment Limited, ILF Engineers Nigeria Limited, Chemtech Group, Berwin Leighton Paisner LLP, Vestas, Diamond Development Initiatives, Engro Powergen Limited, Powerhive, Lubeserve Engineering Ltd, United Capital Plc, Rockwill Electric Corporation (Pty) Ltd, Multisol South Africa (Pty) Ltd, Vergnet, GAGE, SunFunder, ILF Engineers Nigeria Limited, Express Discount Asset Management Ltd., NAREVA HOLDING, Sahara Power, Rand Merchant Bank, United Bank for Africa, Mantrac, Quantum Power Operations Limited, GM Power and Gas, Total, Cornerstone, among others.
Decision makers confirmed to attend include:
His Royal Highness Mai Borgu, Emir of Borgu Kingdom, Federal Republic of Nigeria
Dr Anthony Akah, Acting Chairman, Nigerian Electricity Regulatory Commission
Prof Eli Jidere Bala, Chief Executive Officer and General Director, Energy Commission of Nigeria
Dr Abubakar Atiku Tambuwal, Deputy Managing Director, Transmission Company of Nigeria
Mr Ladi Hauwa Katagum, Acting Executive Secretary/CEO, Nigerian Investment Promotion Commission (NIPC)
Mr Longe Yesufu Alonge, Head Power Procurement and Power Contracts, Nigerian Bulk Electricity Trading PLC (NBET)
Kemela Okara, Commissioner, Trade, Industry and Investment, Bayelsa State Government
Mr Fidelis Uche Nnadi, Senior Special Assistant to the Governor, Enugu State Government
Prof. Bart Nnaji, Chairman and Founder, Geometric Power
Mr Marcus Heal, Chief Executive Officer, Pan Africa Solar
Oti Ikomi, Founder and Chief Executive Officer, Proton Energy Ltd.
Dr Ransome Owan, Group Managing Director, Aiteo Power, Infrastructure & Real Estate
Mohammed N. Mijindadi, Managing Director, GE Gas Power Nigeria
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
Economy
Naira Slips to N1,358/$1 as FX Reserves, Policy Uncertainty Concerns
By Adedapo Adesanya
It was not a good day for the Nigerian Naira in the currency market on Friday, April 24, as its value depreciated against the major foreign currencies at the close of transactions.
In the Nigerian Autonomous Foreign Exchange Market (NAFEX), it lost N4.53 or 0.33 per cent against the United States Dollar yesterday to trade at N1,358.44/$1, in contrast to the N1,353.91/$1 it was exchanged on Thursday.
Equally, the domestic currency slipped against the Pound Sterling in the official market during the session by N8.14 to close at N1,834.02/£1, compared with the previous rate of N1,825.88/£1 and dropped N8.01 against the Euro to sell at N1,590.73/€1 versus N1,582.72/€1.
Also, the Naira depreciated against the US Dollar at the GTBank FX desk on Friday by N4 to quote at N1,370/$1 compared with the previous session’s N1,366/$1, and at the parallel market, it depleted by N5 to settle at N1,380/$1 versus the preceding day’s N1,375/$1.
Data published by the Central Bank of Nigeria (CBN) indicated that NFEM interbank turnover surged to N43.562 million across 68 deals, up from N28.117 million the previous day.
Despite the CBN’s reassurance that the recent drop in external reserves is not worrisome, the market remains unsettled by persistent concerns over liquidity constraints, policy transparency, and weakening confidence in Nigeria’s FX market as gross reserves continue to decline to $48.4 billion.
The outlook for the Dollar appears supported by broader macro risks, including elevated oil prices tied to the tanker traffic disruptions in the Strait of Hormuz and a continued US-Iran standoff over ceasefire negotiations.
A look at the digital currency market showed that investors are sitting on the edge as the US Dollar rebounded amid geopolitical and inflation risks despite continued inflows into US spot bitcoin Exchange Traded Funds (ETFs).
Solana (SOL) rose by 1.2 per cent to sell $86.45, Cardano (ADA) appreciated by 1.1 per cent to $0.2517, Dogecoin (DOGE) grew by 0.9 per cent to $0.0989, Ripple (XRP) improved by 0.3 per cent to $1.43, Ethereum (ETH) soared by 0.2 per cent to $2,316.83, and Binance Coin (BNB) chalked up 0.1 per cent to sell for $637.44.
However, TRON (TRX) depreciated by 1.3 per cent to $0.3235, and Bitcoin (BTC) lost 0.2 per cent to close at $77,562.27, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 each.
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