AfDB Commits $300m to Nigeria’s Zonal Agriculture Project

By Adedapo Adesanya  Nigeria’s economy, measured through its gross domestic product (GDP), witnessed a 2.54 per cent growth in the third quarter (Q3) of the year 2023. In a report published on Friday by the National Bureau of Statistics (NBS), the 2.54 per cent year-on-year growth in real terms in the third quarter of 2023 is higher than the 2.25 per cent recorded in the third quarter of 2022 and higher than the second quarter 2023 growth of 2.51 per cent. The bureau further said that the performance of the GDP in the third quarter of 2023 was driven mainly by

By FBS As Black Friday approaches, global broker FBS delves into the relationship between the year’s biggest sales season and its impact on the financial markets. The FBS analysts particularly discover the trends of the world’s largest economy – the American. They analysed reactions across assets and macroeconomic conditions to understand the Black Friday impact better. What influences the Black Friday numbers FBS analysts highlight three critical indicators for gauging Black Friday’s impact on the US economy: the number of buyers, the average amount spent, and the total spending. Over the past 18 years, notably successful in terms of total

By Adedapo Adesanya The duo of Aradel Holdings Plc and 11 Plc landed the NASD Over-the-Counter (OTC) Securities Exchange in the green territory by 0.84 per cent on Monday, November 27. The two energy stocks overpowered losses posted by two other securities admitted to the alternative stock exchange, leaving the NASD Unlisted Security Index (NSI) closing higher by 7.22 points to 864.51 basis points from 857/29 points, as the market capitalisation of the exchange increased by N9.78 billion to N1.171 trillion from N1.162 trillion. Aradel Holdings Plc saw its share price continue to soar as it rose by N28.80 to

By Aduragbemi Omiyale The Independent National Electoral Commission (INEC) has been granted permission to reconfigure the Bimodal Voter Accreditation System (BVAS) for the governorship and state houses of assembly elections slated for March 11, 2023. The permission was granted by a three-member panel of the court of appeal led by Justice Joseph Ikyegh in Abuja on Wednesday on the condition that the data is uploaded to a back-end server of INEC and the true certified copy made available to the respondents. The candidates of the Labour Party (LP), Mr Peter Obi, and the Peoples Democratic Party (PDP), Mr Atiku Abubakar,

By Adedapo Adesanya The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Senate President, Mr Godswill Akpabio, and nine other former governors who are currently lawmakers in the 10th Senate over their collection of both salaries and pensions. This was disclosed in a statement on Sunday by SERAP Deputy Director, Mr Kolawole Oluwadare. Joined as respondents in the suit filed at the Federal High Court in Abuja were Mr Abdulaziz Yari (Zamfara); Mr Aminu Tambuwal (Sokoto); Mr Adamu Aliero (Kebbi); Mr Adams Oshiomole (Edo); Mr Ibrahim Gaidam (Yobe); Mr Seriake Dickson (Bayelsa); Mr Ibrahim Dankwambo (Gombe);

By Investors Hub European stocks have gained ground on Wednesday as Federal Reserve Chair Jerome Powell’s upbeat economic view bolstered investor confidence in the world’s largest economy. While the French CAC 40 Index has risen by 0.4 percent, the U.K.?s FTSE 100 Index and the German DAX Index are both up by 0.6 percent. The British pound drifted lower to hit its lowest level in 10 months after U.K. inflation data missed forecasts. The consumer price index unexpectedly came in flat at 2.4 percent year-over-year versus expectations for a 2.6 percent increase, raising questions over whether the Bank of England

By Modupe Gbadeyanka Mr Ayeni Philip Olusegun has been appointed as a non-executive director of Morison Industries Plc, a company listed on the Nigerian Stock Exchange (NSE). A statement signed by the company’s Secretary, Miss Abosede Agbetu, disclosed that the appointment of Mr Olusegun was confirmed by Board of Directors of the firm. In the statement issued on Monday, January 30, 2017, it was disclosed that the appointment of Mr Olusegun takes effect from February 1, 2017. The appointee is a fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and holds a B.A. degree in Pastoral Theology. He

**As Gov. Explains Reasons for Joining OGP By Modupe Gbadeyanka Efforts by the Imo State government to run an open system of administration has continued to pay off. This was reflected in the Internally Generated Revenue (IGR), which rose to over N800 million last month. On Tuesday, Deputy Governor of the state Mr Gerald Irona, received a delegation of the British High Commission to Nigeria on behalf of Governor Emeka Ihedioha and said at the meeting that, “We met an IGR base of N258 million monthly. His Excellency introduced reforms to entrench transparency and accountability in governance. “Through Order 005,

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange continued its stay in the troubled waters on Tuesday after it further plunged by 018 per cent. The loss reported yesterday was triggered by the N12.04 decline in the share price of Niger Delta Exploration and Production (NDEP), closing at N175.00 per unit compared with Monday’s price of N187.04 per unit. As a result, the market capitalisation of the OTC stock exchange depleted by N1.68 billion to close the day at N930.61 billion versus the preceding day’s N928.93 billion. In the same vein, the NASD Unlisted Securities Index (NSI) lost 1.28

By Investors Hub European stocks have fallen in cautious trading on Thursday, with renewed U.S.-China trade tensions, weak results from French bank Societe Generale and concerns over the partial government shutdown in the U.S. keeping investors worried. U.S.-China trade tensions resurfaced after media reports suggested the U.S. is pursuing criminal charges against Huawei for alleged theft of trade secrets. While the U.K.?s FTSE 100 Index has slid by 0.7 percent, the French CAC 40 Index is down by 0.5 percent and the German DAX Index is down by 0.3 percent. STMicroelectronics has moved notably lower after Taiwan Semiconductor forecast a

By Investors Hub Asian stocks ended mixed on Friday as trade worries persisted and investors digested key data from China and Japan. The White House is holding off on a decision about licenses for U.S. companies to restart business with Huawei Technologies Co., Bloomberg reported after Chinese companies halted purchases of U.S. agricultural products. Chinese shares fell after the release of mixed inflation data. The benchmark Shanghai Composite Index ended down 19.80 points or 0.1 percent at 2,774.75. Consumer prices in China rose an annual 2.8 percent in July, the National Bureau of Statistics said in a report. That exceeded