Asian Equities Rise Tuesday Despite Weak Japanese Data

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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

By Adedapo Adesanya A hybrid solar power solutions provider, Daystar Power, has signed an agreement with Nigerian Breweries to install and operate a 4.2MWp solar plant and 2MWh battery storage system that will help the firm reduce its high energy costs. The installation will be one of the largest solar and battery storage projects for an industrial manufacturer in Nigeria. The hybrid solar solution will generate 5,249 MWh of electricity – 42 per cent of its daytime power consumption – every year at Nigerian Breweries’ Lagos brewery. According to a statement, the integration of solar into the factory’s energy mix

By Adedapo Adesanya The Naira appreciated against the United States currency in the black market, the Peer-2-Peer (P2P) and the Investors and Exporters (I&E) segments of the foreign exchange market on Monday, March 6. Data obtained by Business Post showed that in the parallel market, the Nigerian currency gained N4 against the US Dollar yesterday to quote at N748/$1, in contrast to last Friday’s rate of N752/$1. Also, in the peer-to-peer segment, the domestic currency was strengthened against its American pair by N9 to settle at N755/$1 compared with the preceding session’s value of N764/$1. Similarly, in the official market window,

By Modupe Gbadeyanka The total volume of shares transacted on the floor of the Nigerian Stock Exchange (NSE) last week increased despite the week-on-week decline in the market’s performance. The All-Share Index (ASI) and market capitalisation both depreciated in the week by 1.99 percent to close at 24,336.12 points and N12.695 trillion respectively. This was despite the rise in the total turnover of 961.8 million stocks worth N9.2 billion traded in 20,058 deals in the week by investors, in contrast to the previous week’s 739.4 million equities worth N8.6 billion transacted in 17,248 deals. A breakdown showed that the financial

Modupe Gbadeyanka No fewer than 22 branded Gokada and Maxokada motorcycles have been confiscated by officials of the Lagos State Task Force. Chairman of the agency, Mr Olayinka Egbeyemi, during an enforcement exercise yesterday, described the activities of owners/operators of commercial ‘Gokada’ and ‘Maxokada’ as illegal, directing them to immediately comply with the Lagos State Road Traffic Laws of 2012. Mr Egbeyemi said a total of 115 motorcycles were impounded during the enforcement operations of which 22 belonged to Gokada and Maxokada. He said they allegedly plied restricted routes in the state, including one-way around Ikeja, Ojota, and Maryland. According

By Modupe Gbadeyanka After several calls by passengers for the sale of tickets online, the Nigerian Railway Corporation (NRC) commenced test bookings on its platform. This information was disclosed by the Minister of Transportation, Mr Rotimi Amaechi, who added that the skeletal sale is restricted to the Abuja to Kaduna route. In a tweet posted via his Twitter handle on Wednesday, the Minister stated that the services would be extended to other routes from next week. “Yes, we have commenced test bookings on the NRC e-ticketing platform, starting with the Abuja-Kaduna rail line. Next week, we’ll launch fully. Check it

By Dipo Olowookere Minister of Interior, Mr Abdulrahman Bello Dambazau, has called on all well-meaning Nigerians not to allow themselves to be dragged into religious conflicts. He made this passionate appeal following insinuations that the criminal violence in Southern has some religious interpretations. He said there were people always looking for ways to further create division along religious or ethnic fault lines for their selfish interest, with the aim of creating instability in our internal security. Accordingly, the Minister posited that true religious leaders do not fan the embers of hate, but ensure that communities live in peace and harmony.

By Modupe Gbadeyanka Mr Andrew McCartney has been appointed by Bioventus as the Managing Director of International for Europe, Middle East and Africa (EMEA). Mr McCartney, who will be responsible for leading the company’s EMEA business and growing the Bioventus Active Healing Therapies portfolio within the region, will also have responsibility for the international headquarters office in Hoofddorp, The Netherlands. “We are very pleased Andrew is joining us to lead our growing business in EMEA,” said Tony Bihl, CEO of Bioventus. “His broad and deep experience of the European healthcare market, business management and marketing will help us accelerate our

On Thursday, August 11, 2016, the 2016 Presidential Policy Dialogue Session was held in Lagos and it had participants from the private sector. Vice President, Yemi Osinabjo, was the Special Guest of Honour and Keynote Speaker at the occasion. He told the gathering that the President Muhammadu Buhari-led administration was committed to creating an enabling environment for businesses to thrive in the country. The Presidential dialogue session was organized by the Lagos Chamber of Commerce and also had Alhaji Aliko Dangote in attendance.

By Adedapo Adesanya The Ondo State government has intensified its efforts to build a deep seaport in the state as Governor Rotimi Akeredolu has received the Outline Business Case (OBC), which is one of the critical requirements preceding port declaration which reveals the project as a multi-purpose deep seaport. Speaking at the event in Akure, Mr Akeredolu noted that the level of cooperation for his administration to establish Port Ondo coupled with the confidence of the consulting firm on the viability of the project is a pointer to its eventual success. The Governor said the abundance of resources in the