Amosun Pays N4.5b Deductions to Workers

By Adedapo Adesanya The key performance indicators of the NASD Over-the-Counter (OTC) Securities Exchange remained unchanged at the close of transactions on Tuesday amid a mixed activity level chart. Business Post reports that the stalemate occurred after the NASD OTC exchange recorded no price gainer or loser, as the prices of stocks on the platform closed flat. Also, the total value of the alternative equity market, measured by the market capitalisation, remained unchanged at N1.138 trillion, and the NASD Unlisted Securities Index (NSI) closed flat at 805.29 points. During the trading session, investors traded a total of 501,437 units of

By Adedapo Adesanya President Bola Tinubu has said Nigeria is ready for business in the oil sector, stressing that he is ready to tackle all the issues relating to businesses in the country. He stated this in New York on Monday while playing host to a delegation consisting of the global leadership of an oil and gas transnational giant, ExxonMobil. According to a Tuesday statement by the presidential spokesman, Mr Ajuri Ngelale, the country is no longer settling for crumbs and leftovers on the investment agenda of the world’s most prolific energy conglomerates. “Nigeria has never been more ready for

By Adedapo Adesanya Ahead of next week’s Monetary Policy Committee (MPC) meeting scheduled for Monday, September 25 and Tuesday, September 26, the Lagos Chamber of Commerce and Industry (LCCI) has called on the Central Bank of Nigeria (CBN) to pause its interest rate hike. In a statement signed by the Director-General, Mrs Chinyere Almona, the group said this was necessary to relieve Nigerians of the pressure on the supply side following a further surge in the inflation rate. The National Bureau of Statistics (NBS) revealed last Friday that the average cost of goods and services rose by 25.80 per cent

By Adedapo Adesanya Panic continues to grip the global oil market as price of the international benchmark futures, Brent crude, dropped below $57 per barrel on Friday afternoon, spurred by the spread of the coronavirus in some countries. Coming home, this is a big worry for the Nigerian government, which pegged the average price of crude oil this year to $57 per barrel in the 2020 budget signed into law last month by President Muhammadu Buhari. As at the time of this report, the Brent crude was trading down by 60 cents or 1.05 percent at $56.73 per barrel, while

By Dipo Olowookere Giving a much-needed voice to the African real estate sector, the African Property Skyline Magazine, the only publication dedicated to Africa real estate investment and development, will provide the industry with a new platform to explore and create a better understanding of the continent’s true potential. The magazine, which will feature the latest investment trends and development initiatives in Africa, will also focus on key trends, top African real estate deals, burgeoning new property sub-sectors as well as the inner workings and economic complexities of a number of African countries and cities. Speaking as a key figure

By Adedapo Adesanya HealthXP Limited, a healthcare technology firm, has introduced a groundbreaking application, myhealthXP, aimed at addressing the healthcare delivery crisis in Africa. With numerous challenges facing the sector, including brain drain, poor infrastructure, lack of funding, inadequate access to healthcare facilities, and the mismanagement of health records, myhealthXP offers a seamless and innovative approach to healthcare delivery in Africa. myhealthXP is an on-demand healthcare collaboration platform designed to connect individuals with highly qualified and verified doctors, laboratories, pharmacies, and caregivers. It facilitates efficient and convenient access to quality medical attention regardless of location. Through myhealthXP, Africans can access

By Modupe Gbadeyanka Transactions on the floor of the Nigerian Stock Exchange (NSE) remained bearish on Friday, pointing south by 2.45 percent at the close of the market. The All-Share Index (ASI) shed 806.3 absolute points to settle at 32,122.14 absolute points, while the market capitalisation depressed by N279 billion to close at N11.11 trillion. Furthermore, the YTD Return shortened to 19.53 percent, while the market breadth stayed negative as 33 stocks declined in contrast to 21 advancers. Dangote Cement emerged the biggest loser with N9.40k loss to close at N195.60k per share, while Nigerian Breweries shed N6.13k to end

By Dipo Olowookere It was a memorable day on Sunday, May 27, 2018 as some kids were hosted by Nigeria’s number one malt drink, Maltina, in commemoration of the Children’s Day celebrations. Maltina is the first locally produced malt drink in Nigeria and is fortified with vitamins and calcium for healthy families. On Children’s Day, Maltina, hosted hundreds of children and their parents in Lagos and Ibadan to a party, in line with the brand’s mission to nourish precious family moments and spread happiness. The families got to enjoy fun activities like face-painting, sack races, carousel rides, Tug of War,

By Dipo Olowookere BUA Group has been accused by the management of Dangote Group of engaging in illegal mining of limestone deposited in its Mining Lease No. 2541, located in a boundary town of Oguda/Ubo in Okene Kogi State. This claim was made over the weekend by Dangote’s Executive Director, Mr Devakumar Edwin, who frowned at the media war allegedly instigated by BUA against the Dangote Group, over a matter which is already pending before the Federal High Court, Benin Division. Speaking at a media conference in Lagos, Mr Edwin stated that, “Dangote Group validly acquired its interest and mining

By Adedapo Adesanya Oil prices rose at the international market on Wednesday as Mr Joe Biden was sworn-in as the 46th President of the United States of America. The Brent crude went up by 1.16 per cent or 67 cents to trade at $56.52 per barrel while the West Texas Intermediate (WTI) crude rose by 30 cents or 0.57 per cent to close at $53.28 per barrels. The incoming Biden administration has made plans to introduce a better incentive in the next COVID-19 relief package. This was confirmed by the Treasury Secretary nominee, Ms Janet Yellen, when she told the

By Dipo Olowookere The Nigeria Extractive Industries Transparency Initiative (NEITI) has expressed its willingness to unravel real owners of companies in the country, especially in the oil, gas and mining sectors. The agency described Nigeria’s membership of Open Government Partnership (OGP) as a timely platform to achieve this aim. Speaking at a Consultative Forum on OGP in Abuja, the Executive Secretary of NEITI, Mr Waziri Adio, disclosed that, “Knowing how much companies paid in the form of taxes, royalty, rents etc. and how much government received is important, but not enough. Knowing those who are the real owners of the