AFDB Agric Scheme Injects N36.2bn into Nigerian Economy

By Adedapo Adesanya Equinor and Chappal Energies have entered into an agreement for the sale of Equinor Nigeria Energy Company (ENEC), which holds a 53.85 per cent ownership in oil and gas lease OML 128, including the unitized 20.21 per cent stake in the Agbami oil field, operated by Chevron. Speaking on the deal, Equinor’s senior vice president for Africa Operations, Ms Nina Koch, said Nigeria has been an important part of Equinor’s international portfolio over the past 30 years, noting that, “This transaction realizes value and is in line with Equinor’s strategy to optimize its international oil and gas

By Dipo Olowookere The Nigerian Exchange (NGX) Limited commenced the first trading session in December 2023 on a bullish note, with a marginal growth of 0.08 per cent. Sustained buying pressure kept Nigerian stocks in the positive territory, extending the dominance of the bulls on Customs Street, though the turnover waned. Business Post observed that investors cherry-picked equities in the banking and the energy sectors during the session, leaving them rising by 1.14 per cent and 0.05 per cent, respectively. However, the insurance counter lost 1.10 per cent, the consumer goods index depreciated by 0.08 per cent, and the industrial

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

In furtherance of my sacred duties and obligations as President of the Federal Republic of Nigeria, it is my honour to be here today to present my administration’s 2024 Budget Proposal to this Joint Session of the 10th National Assembly. This moment is especially profound and significant to me because it is my first annual budgetary presentation to the National Assembly. Distinguished Senators and Honourable Members of the National Assembly, I commend your swift consideration and passage of the 2023 Supplementary Appropriation Bills and the 2024-2026 Medium Term Expenditure Framework and Fiscal Strategy Paper. Your prompt action underscores your devotion

Growing up in the 80s and 90s, Saturdays were the very best! The aroma of moimoi and akara from the kitchen, the resounding voice of the commentator on Telly Match, the cartoons on Cadbury Breakfast Show and other sitcoms were highlights of our morning; it felt like a reward for the work to come. We usually anticipated Saturdays since we didn’t have to go to school and there was an opportunity to play around. However, on the flip side, those mornings were incomplete till we finished our house chores. Even though we had other famous chores such as laundry, the

By Modupe Gbadeyanka Movie and television producers in the country have been urged to use their platforms to tell positive stories of Africa. Minister of Information and Culture, Alhaji Lai Mohammed, while speaking at an event in Lagos on Sunday, said the world is waiting to “hear our stories and are ready to pay a lot of money for it.” Mr Mohammed said confirmed this following the “runaway success of the dance drama ‘Wakaa The Musical’, which was performed to global acclaim in London recently. We just need to make the product of the right quality and accessible to all.”

By Adedapo Adesanya Afriland Properties Plc led the NASD Over-the-Counter (OTC) Securities Exchange into the negative territory on Thursday, February 13, 2020. It was the first movement the market was having since the beginning of this week. the exchange had remained flat since on Monday, when the trading for the week kicked off. At today’s trading session the foremost property development and investment company was the lone price decliner, going down by 10 kobo or 4.8 percent to settle at N2.10 per share in contrast to N2.20 per unit it closed at the mid-week session. The poor performance of the

By Modupe Gbadeyanka The much-awaited Petroleum Industry Bill (PIB) will be considered on Thursday, July 1, 2021, the Senate President, Mr Ahmad Lawan, has confirmed. Mr Lawan made this disclosure on Tuesday when the joint committee instituted by the red chamber of the National Assembly to look into the bill submitted its report during the plenary. The joint committee headed by Mr Sabo Mohammed includes the Senate Committee on Petroleum (Downstream); Petroleum (Upstream) and Gas Resources. Mr Mohammed laid the joint committee report on PIB before his colleagues today and while speaking on it, the Senate President said, “Let me

By Adedapo Adesanya King Charles III of England has sent condolences to the Nigerian government as the country battles one of its worst flooding disasters in a decade. According to official figures, more than 600 people have died, and more than 1.3 million have been displaced in the worst floods, which are happening in 33 of the country’s 36 states. Thousands of homes and large swaths of farmland, roads and other critical infrastructure have been damaged or destroyed. The widespread flooding was prompted by extreme rainfall and the release of water from the Lagdo Dam in Cameroon. In his message

By Dipo Olowookere The sale of screening test forms for primary six pupils seeking admission into Lagos State Junior Model Colleges and/or Upgraded Junior Secondary Schools with boarding facilities in the state is finally out. A statement issued by the Lagos State Examinations Board disclosed that sales of the forms kicked off on Monday, January 8, 2018 and will end on Friday, April 27, 2018. In the statement signed by the Director of Examinations Board, Mr Oluwafemi Hassan, it was stated that late registration will commence from Wednesday, May 22, to Friday, May 25, 2018. Mr Hassan urged parents and

By Adedapo Adesanya The Nigerian authorities have returned a Swiss vessel, MT San Padre Pio, which was impounded within the nation’s waterways in 2018 to the Government of Switzerland. This was disclosed on Saturday during the handing over of the vessel to the Swiss government. The transfer was done by Commander of the Nigerian Navy Ship, NNS Pathfinder, Commodore Abdullahi Ahmed, a representative of the Ministry of Foreign Affairs, Mr Samuel Ojo, and the Attorney General of the Federation and Minister of Justice, Mr Abubakar Malami. Mr Malami, represented the Deputy Director of International and Comparative Law, Federal Ministry of

By Adedapo Adesanya President Muhammadu Buhari has invited top South Korean investors to increase their investments in Nigeria, saying this will boost trade between both countries, which data shows it is below $1.5 billion. Speaking on Wednesday in Seoul, the President said his administration would continue to make determined efforts to improve the enabling domestic environment for businesses to flourish. Mr Buhari spoke during an audience he granted representatives of strategic Korean companies and industries on the sidelines of the World Bio Summit 2022 in the Korean capital. The President noted that, “Nigeria remains committed to creating a stable and