Most 2018 Budget Assumptions Wrong—Lawmaker

By Adedapo Adesanya The Nigerian Shippers’ Council (NSC) has expressed its readiness to partner with the Lekki Deep Seaport by promoting the seamless movement of cargo and the efficiency of the nation’s ports. The NSC Executive Secretary, Mr Pius Akutah, gave the assurance when the Managing Director, Lekki Port LFTZ Enterprise Limited (LPLEL) – promoters of Lekki Deep Seaport, Mr Du Ruogang, led the port’s management on a courtesy visit to the NSC in Lagos. Mr Akutah, who commended the Lekki Deep Seaport management for the visit, said the council would partner with the port in areas that would boost

By Adedapo Adesanya The Nigerian Naira opened the week stronger on the American Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Monday, December 4 as pressure eased amid continued foreign exchange (FX) liquidity squeeze in the market. In the official market, the Naira appreciated against the greenback by 9.6 per cent or N89.42 to settle at N837.77/$1 compared with last Friday’s closing price of N927.19/$1. Also, the Naira gained N172.53 against the Pound Sterling in the NAFEM segment of the market during the session to close at N1,031.57/£1 versus last Friday’s rate of N1,204.10/£1 and against the Euro,

By Modupe Gbadeyanka Business owners in Lagos have been assured of more incentives by the state governor, Mr Babajide Sanwo-Olu, who added that this is part of his administration’s commitment to reforms aimed at improving the ease of doing business and enhancing investment opportunities. Speaking at the commissioning of the newly-built wet hair production factory of Godrej Nigeria Limited, the Governor said his government would continue to pursue actions that would eliminate red tapes and regulatory impediments hindering the growth of businesses in the state, thereby demonstrating his willingness for continued collaboration with the private sector to improve the livelihood

By Adeniyi Ogunfowoke A car is just like our body. We do not really care about it until we have a headache or something happens. That is when we remember the doctor or hospital. This is not supposed to be the case but many of us do it. Perhaps we are scared of hospitals. It is the same with our cars. Some people just jump in their cars without checking or doing anything and zoom off. This is very risky. It is better to take precautions before you start your car so as to avoid stories that touch. Accordingly, we share the things you must

By Dipo Olowookere Players in the treasury bills market in Nigeria will look forward to N309.06 billion worth of the government instrument maturing this week via the Open Market Operations (OMO). During the week, average yields of T-bills are likely to contract as demand rebounds on the back of expected improvement in system liquidity. Also, the money market rates are expected to remain in the single digit band, barring the resumption of aggressive OMO mop ups by the Central Bank of Nigeria (CBN). Last week, the Open Buy Back (OBB) and Overnight (OVN), opened in single digit at 4.7 percent

By Dipo Olowookere The government of Oyo State has confirmed receiving the sum of N7.2 billion as its own share of the Paris Club over deductions funds. According to the Commissioner for Information, Culture and Tourism, Mr Toye Arulogun, the fund was released after state Governor, Mr Abiola Ajimobi made efforts to get Oyo State included in the list of beneficiaries. The Commissioner, who briefed the media on Wednesday in Ibadan, revealed that 60 percent of the fund collected has been added to the federal allocation to the state to pay salaries of workers for the months of August and

Nigeria’s leading online shopping destination, Jumia, has empowered resident women in Lagos to deepen e-commerce penetration in the country. This is through the company’s Women & Youth Empowerment Programme, created to provide training and support to young women and youth seeking to expand their sources of income. The programme, which is also aimed at ultimately bridging the widening unemployment gap among the youth in the country, had its pilot phase launched on Friday, June 14, 2019, at the Jumia Experience Centre in Yaba, Lagos. According to the Chief Executive Officer of Jumia Nigeria, Mrs Juliet Anammah, when women are empowered,

By Modupe Gbadeyanka The stock market could not maintain the positive momentum gained last Friday at the close of activities on the Nigerian Stock Exchange (NSE) today. The market, which had bounced back from consecutive losses last Friday, recorded a huge slump on Monday with the all-share falling by 226.04 basis points or 0.80 percent to finish at 27,634.99 basis points. Likewise, the market capitalisation, which ended at N9.569 trillion last week, closed at N9.492 trillion today, indicating a whopping loss of N77.639 billion. Market analysts informed Business Post that today’s giant slump was primarily caused by price loss recorded

By Modupe Gbadeyanka The board and management of Transcorp Plc have been charged to continue to record more achievements so as to pay bigger dividend. This task was given by shareholders of the company during its Annual General Meeting (AGM) held last Friday in Abuja, where they approved the 3 kobo per share dividend recommended by the board for the 2018 fiscal year. The investors stressed that when the firm records more successes, it would improve yields and then result into more cash dividend payout. At the AGM, most of the shareholders commended the performance of the company in the

By Adedapo Adesanya **As Nigeria Says Goodbye to Fuel Subsidy The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr Mele Kyari, has disclosed that nothing can ever make price of crude oil to below $20 per barrel at the international market. According to him, the latest positive developments support his argument, saying he was very confident that prices will stay above. Speaking on Monday during an interview on Moneyline, a programme aired by Africa Independent Television (AIT) and hosted by Nancy Illoh, Mr Kyari stated that, “The key issue in crude oil business is market fundamentals of demand

By Modupe Gbadeyanka Following the recently concluded promotion exercise conducted by the Federal Road Safety Commission (FRSC) where 36 senior officers were promoted to their next rank, the Corps Marshal, Mr Boboye Oyeyemi, has approved the posting of the newly promoted officers and others to different formations of the Corps across the country. According to the Corps Public Education Officer, Mr Bisi Kazeem, this posting is part of concerted efforts by the Corps to ensure proficiency, dynamism and excellence in service delivery to the motoring public. Speaking further, Mr Kazeem gave the list of the officers posted as: Deputy Corps