Exchange of RT Briscoe Nigeria Shares Resumes on NSE

By Adedapo Adesanya Indian car maker, Hinduja Group, has disclosed plans to invest in Nigeria’s automotive industry following talks with President Bola Tinubu in New Delhi, India, ahead of the G20 summit. President Tinubu is in the Indian capital meeting with delegates and investors on the sidelines of the event, which will be held between September 9 and 10. He was invited to the country by the Prime Minister of India, Mr Narendra Modi. At a meeting with Mr Tinubu, the Chairman of Hinduja Group, Mr Prakash Hinduja, said he is ready to sign a memorandum of understanding with the

By Adedapo Adesanya The Governor of Enugu State, Mr Peter Mbah, has appointed the co-founder and CEO of Kobo360, Mr Obi Ozor, as the Commissioner for Transport, a move that has sent ripples of joy across Nigeria’s tech sector. Mr Ozor was sworn in last Friday alongside 19 others by Governor Mbah. He is expected to bring his over six years of logistics and supply chain experience to drive the goals of the Southeastern state’s executive council. Speaking at the swearing-in ceremony, Mr Mbah said to the Commissioners, “Your selection was largely driven by your track records, your experience, your

By Adedapo Adesanya The Nigerian Automobile Technicians Association (NATA) Lagos State chapter has lauded Hyde Energy following an assessment of the quality of lubricants produced and distributed in the Nigerian market as well as adherence to international best practices by Hyde Energy Lubricant business. This came as the executive members of the association visited the energy trading company’s lubricant blending plant located in Ijebu-Ode, Ogun State. The lubricant plant, one of the largest lubricant manufacturing facilities in Nigeria, has the capacity to blend 30,000 litres of lubricant per day. The lubricants produced at the Hyde Energy blending plant undergo stringent

By Adedapo Adesanya After years of delays and extensions, the Lagos Blue Line Rail has begun commercial operations, with Governor Babajide Sanwo-Olu taking the first ride this morning (September 4). The first phase of the rail line extends from Marina to Mile 2 with five stations located in Marina, National Theatre, Iganmu, Alaba, and Orile. Operations commenced from Marina to Mile 2 Train Station, with Mr Sanwo-Olu taking the first ride at about 09:45 am. He was joined by some select persons, including the Commissioner of Police for the state, Mr Idowu Owohunwa; the First Lady, Mrs Ibijoke Sanwo-Olu; the

By Adedapo Adesanya The Independent Petroleum Marketers Association of Nigeria (IPMAN) has hailed President Muhammadu Buhari over the planned rehabilitation of the Port Harcourt refinery. IPMAN Chairman in Rivers State, Mr Joseph Obele, said the refinery, when revamped, will enable Nigerians access quality fuel, against the substandard petroleum products, currently being imported into the country. Mr Obele, who equally commended the Minister of State for Petroleum Resources, Mr Timipre Sylva and the Group Managing Director of NNPC, Mr Mele Kyari, said the project will create employment by engaging over 25,000 persons. According to him, “IPMAN Rivers State is saying thank

By Dipo Olowookere Ogun State Governor, Mr Ibikunle Amosun, has extolled the loyalty of his Deputy, Mrs Yetunde Onanuga, saying her selfless service has contributed immensely to the development of the state. Speaking during the weekly state Executive Council meeting, when cabinet members honoured her on her 57th birthday, the Governor said “history will speak of her selfless service towards engendering development of the state.” Mr Amosun urged other members of the council to emulate her and continue to work towards the greatness and glory of the administration as well as the state. Wife of the Governor, Mrs Olufunso Amosun,

By Aduragbemi Omiyale About 2,000 primary school teachers initially seconded to the post-primary Teaching Service Commission (TESCOM) of Oyo State during the administration of late Abiola Ajimobi have now been absorbed by Governor Seyi Makinde. The chairman of TESCOM, Mr Akinade Alamu, during the celebration of 2022 World Teachers’ Day in Ibadan on Wednesday, also stated that the state government has approved the promotion of civil servants in the state. Recall that teachers, who teach in secondary schools across the state, had appealed to the Oyo State Government to either regularise their appointments as TESCOM teachers or revert their appointment

By Modupe Gbadeyanka London-based GTreasury has announced opening its West End, London office located at 1 Neal Street. This move gives GTreasury both an expanded presence in Europe for the servicing of its new and existing treasury management customers and a foundation for greater support, service and future growth. The London based GTreasury team will include new additions such as Mr Terry Beadle, as Global Head of Corporate Development, and Christopher Seaman, as EMEA Managing Director. Mr Beadle was the global leader of Bloomberg’s treasury management team for three years and is a former managing director of Wall Street Systems.

By Dipo Olowookere The need for oil and gas companies in the upstream and midstream to list their shares for trading on the Nigerian Stock Exchange (NSE) has been emphasised by the Executive Secretary of Nigerian Content Development and Monitoring Board (NCDMB), Mr Simbi Wabote. Speaking on Tuesday on the floor of the NSE, Mr Wabote said listing of oil and gas firms on the stock market would change the operating model of the industry and enable the pooling of funds for growth, empowerment and inclusion of Nigerians in the activities of the sector. He submitted that oil and gas

By Dipo Olowookere The Nigerian Exchange (NGX) Limited crashed by 1.81 per cent on Wednesday after sell-offs in shares of MTN Nigeria, UPDC and others brought the All-Share Index (ASI) below the 43,000 points threshold. Data from the exchange indicated that the benchmark index depreciated by 784.89 points to settle at 42,463.16 points compared with 43,248.05 points of the preceding day. In the same vein, the market capitalisation of the trading platform decreased by N410 billion as it closed at N22.157 trillion compared with the previous day’s N22.567 trillion. The poor outing of the market yesterday was caused by MTN

By Dipo Olowookere The Nigerian Stock Exchange (NSE) closed 0.13 percent lower last Friday despite the mood of the market closing positive. At the session, the market breadth closed positive with 15 price gainers as against 13 price losers, but the losses printed by Dangote Cement and MTN Nigeria supressed the gains recorded by the likes of Zenith Bank and GTBank. Dangote Cement, which led the losers’ chart, fell by N3.40 to N125 per share, while MTN Nigeria lost 80 kobo to finish at N92 per share. C&I Leasing depreciated by 60 kobo to sell at N5.60 per unit, Nigerian