Economy
10 Osun Artisans Receive N3m Grant from Goldberg’s Isedowo
By Modupe Gbadeyanka
No fewer than 10 artisans in Osun State have been rewarded with N3 million grant to boost their businesses.
The funding package was given to the entrepreneurs by Goldberg lager beer, Nigeria’s leading culture-centric beer brand, through its Isedowo youth empowerment initiative in the Southwest region of Nigeria.
The initiative, which is aimed at supporting young Yoruba men and women to grow their businesses, was launched at the palace of the revered monarch, the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi Ojaja II last week Thursday in Ile-Ife, Osun State.
The 10 artisans from different skilled crafts were empowered with N300,000 each to support their businesses.
The beneficiaries included Adeola Olajide, Akanbi Musibau, Lateef Muibi, Ojudale Akinola and Oluwanifemi Abiodun. Others were Makinde Tolulope, Owojori Temitayo, Akinyanran Oluwaseun, Adetola Agbeniyi and Jaiyeoba Olufemi.
An elated Olufemi, who specialises in clutch and brake reconditioning in all types of motor vehicles, expressed joy at the occasion and commended the brand for having the plight of Yoruba youth in its agenda.
“It is a day of joy for me and I am grateful to Goldberg for deeming it fit to uplift Yoruba youth with Isedowo,” he said.
He noted that his grant will be channelled into his business to boost efficiency.
Agbeniyi, a cobbler from Ilesa, Osun State, who resides and works in Ile-Ife, said that Isedowo had empowered her with the resources to expand her business from a production angle.
“With my ₦300,000 business grant, I intend to buy more materials to increase my output. Before now, I have been producing smaller quantities of shoes which do not meet the demands of my clients. But with this grant, I will be able to acquire more materials to boost my output and ensure that supply meets demand,” she said.
She commended Nigerian Breweries for the partnership with artisans through Isedowo and promised to utilise her grant judiciously.
Other beneficiaries included artisans who are skilled in panel beating, fashion designing, catering, decorating and repairing of mobile phones. They expressed their excitement and commended Goldberg for the initiative which they said would put a smile in the faces of young Yoruba business men and women in the Southwest region.
Emmanuel Agu, Portfolio Manager, Mainstream Lager and Stout brands, Nigerian Breweries Plc, said that, in addition to Goldberg’s commitment to culture and tradition of the Yoruba people, it would use Isedowo to inspire entrepreneurship in the region thus impacting on employment and income generation.
“Through Isedowo, Goldberg will extend its links with the Southwest beyond culture and tradition to the entrepreneurial passion of the people,” he said.
Commenting on the modalities of the scheme, Agu said: “Interested participants who wish to benefit from the initiative are required to showcase their business ideas and how they impact the society at any of the Isedowo centres across the Southwest region.
“There will be screening of these participants and their business ideas after which the top 100 participants will be rewarded with a grant of N300,000 each to the tune of N30 million for all successful artisans in the region.”
The first five artisans were rewarded at the unveiling of the campaign at the Ooni’s palace, while the last five were rewarded during the concert in the evening where artistes like Taiye Currency and Leye Williams entertained the crowd.
The train moves to Ekiti State on September 13 to begin registration and collation of business proposals submitted by interested artisans in the state. Then there will be screening and selection of artisans who will undergo a live audition and reward on September 22 in Ado-Ekiti.
Goldberg is known across the Southwest region as a leading supporter of culture and tradition and through Isedowo, it has deepened its connections with the people by supporting their economic aspirations.
By Adedapo Adesanya
Three bellwether stocks weakened the NASD Over-the-Counter (OTC) Securities Exchange by 1.31 per cent on Monday, May 18.
This brought the NASD Unlisted Security Index (NSI) by 54.71 points to 4,133.70 points from 4,188.41 points, and shrank the market capitalisation by N32.73 billion to N2.473 trillion from N2.506 trillion.
Yesterday, FrieslandCampina Wamco Plc contracted by N12.45 to sell at N146.55 per share compared with last Friday’s closing price of N159.00 per share, Central Securities and Clearing System (CSCS) Plc declined by N2.34 to N70.00 per unit from N72.34 per unit, and NASD Plc lost 50 Kobo to trade at N34.50 per share versus N35.00 per share.
The trio overpowered the N5.56 gained Newrest Asl Plc. This stock ended the trading session at N61.15 per unit, in contrast to the previous session’s N55.59 per unit.
During the trading day, the volume of securities traded by investors slid by 56.1 per cent to 514,142 units from 1.2 million units, and the value of securities dropped 29.8 per cent to close at N17.4 million versus N29.8 million, while the number of deals jumped 12.5 per cent to 27 deals from 24 deals.
Great Nigeria Insurance (GNI) Plc remained the most traded stock by value on a year-to-date basis, with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 60.8 million units exchanged for N4.1 billion, and Okitipupa Plc with 27.9 million units traded for N1.9 billion.
GNI Plc also ended the day as the most traded stock by volume on a year-to-date basis 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 transacted for N1.2 billion.
By Adedapo Adesanya
It was a horrible day for the Nigerian Naira in the different segments of the foreign exchange (FX) market on Monday, May 15, as its value further weakened against the United States Dollar.
In the black market window, the Naira lost N5 against the Dollar yesterday to sell for N1,390/$1 compared with the previous value of N1,385/$1, but at the GTBank forex counter, it remained unchanged at N1,383/$1.
In the Nigerian Autonomous Foreign Exchange Market (NAFEX), the Nigerian currency depreciated against the greenback by N2.66 or 0.19 per cent to sell for N1,373.70/$1 compared to last Friday’s rate of N1,371.04/$1.
Equally, it fell against the Pound Sterling in the same market segment by N9.05 to trade at N1,839.66/£1 versus N1,830.61/£1, and lost N5.42 on the Euro to close at N1,600.49/€1 versus N1,595.07/€1.
The performance of the local currency during the session indicates early worries despite all signals pointing to stability, amid improved Dollar sales by the Central Bank of Nigeria (CBN), with steady, higher oil receipts to bolster the nation’s reserves.
Activity at the market showed that turnover rose 57.3 per cent to $76.29 million on Monday from $48.49 million posted on Friday.
Over the weekend, S&P raised Nigeria’s credit ratings for the first time since 2012 and highlighted improved FX market liquidity and $10 billion turnover recorded in April 2026 as one of the major gains of the CBN-led FX reforms.
The agency said the liberalisation of the exchange rate has bolstered access to foreign currency and enabled a market-driven exchange-rate environment while supporting investor and consumer confidence.
Meanwhile, the cryptocurrency market was bullish on Monday as investors monitored developments in the Iran conflict and weighed the impact of surging oil prices on inflation and US interest-rate expectations.
Ethereum (ETH) gained 0.7 per cent to trade at $2,134.10, Cardano (ADA) rose by 0.6 per cent to $0.2515, Solana (SOL) expanded by 0.3 per cent to $85.11, Binance Coin (BNB) jumped 0.2 per cent to $643.29, TRON (TRX) increased by 0.03 per cent to $0.3565, and Bitcoin (BTC) advanced by 0.02 per cent to $76,912.12.
On the flip side, Dogecoin (DOGE) slid by 1.5 per cent to $0.1044, and Ripple (XRP) decreased by 0.5 per cent to $1.38, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) traded flat at $1.00 apiece.
By Dipo Olowookere
A marginal 0.05 per cent loss was recorded by Customs Street on Monday, as sell-offs by market participants remained.
This was driven by the desire of investors to book profits, having witnessed a significant price appreciation on the stocks in their portfolios.
Yesterday, bargain-hunting in the banking space, which resulted in the sector closing 0.17 per cent higher, could not prevent the Nigerian Exchange (NGX) Limited from going down.
Data showed that the consumer goods segment lost 0.26 per cent, the insurance counter depreciated by 0.20 per cent, the industrial goods index shed 0.09 per cent, and the energy industry retreated by 0.03 per cent.
As a result, the All-Share Index (ASI) eased by 126.09 points to 250,204.83 points from 250,330.92 points, and the market capitalisation contracted by N81 billion to N160.363 trillion from N160.444 trillion.
NCR Nigeria and Zichis declined by 9.99 per cent each to sell for N161.20 and N26.49, respectively, Industrial and Medical Gases shrank by 9.93 per cent to N38.10, Sovereign Trust Insurance depreciated by 9.86 per cent to N2.65, and DAAR Communications slipped by 9.78 per cent to N2.03.
On the flip side, Oando gained 10.00 per cent to finish at N51.70, University Press also rose by 10.00 per cent to N5.50, Deap Capital soared by 9.96 per cent to N5.96, May and Baker expanded by 9.94 per cent to N52.00, and Trans-Nationwide Express grew by 9.92 per cent to N7.76.
Yesterday, 800.5 million equities worth N37.1 billion exchanged hands in 87,096 deals compared with the 1.1 billion equities valued at N44.3 billion traded in 65,744 deals last Friday. This showed that the number of deals went up by 32.48 per cent, while the trading volume and value went down by 27.23 per cent and 16.25 per cent, respectively.
The most active stock on the first trading session of this week was UBA with a turnover of 65.0 million units worth N2.8 billion, Fidelity Bank traded 57.3 million units for N1.3 billion, Access Holdings sold 42.3 million units valued at N1.1 billion, DAAR Communications exchanged 36.7 million units for N81.8 million, and Secure Electronic Technology transacted 36.6 million units worth N33.0 million.
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