Bears Tighten Grip on NASD OTC Exchange After 0.15% Loss

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  Oil prices rose by more than $1 a barrel on Wednesday as investors focused their attention on an upcoming OPEC+ output policy meeting and looked past a jump in crude stockpiles in the United States. Brent crude futures were up by $1.01 or 1.2 per cent to $82.69 per barrel, and the US West Texas Intermediate (WTI) crude futures gained $1.16 or 1.5 per cent to close at $77.57 a barrel. Prices were lifted by a media report that the Organisation of the Petroleum Exporting Countries and allies such as Russia, known collectively as OPEC+, was considering

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 The Naira put up a weak performance against the United States Dollar across the various segments of the foreign exchange (FX) market on Thursday. November 30, 2023, the last trading session of the month. In the Nigerian Autonomous Foreign Exchange Market (NAFEM) window, which is the official market, the Nigerian currency lost 0.1 per cent or 85 Kobo against the greenback during the session to settle at N832.32/$1 compared with the preceding day’s value of N831.47/$1. A slight strain in the supply of forex into the spot market was partly responsible for the weakening of the local

By Adedapo Adesanya Nigeria’s total public debt stock increased by 17 per cent to N46.25 trillion or $103.11 billion as of December 2022 from N39.56 trillion or $95.77 billion in 2021. This information was revealed by the Debt Management Office (DMO) on Thursday. This means that the country’s debt profile precisely increased by 16.9 per cent or N6.69 trillion or $7.34 billion within one year, as the government borrow funds from various quarters for its budget deficits. The agency said the new figures comprise the domestic and external total debt stocks of the federal government and the sub-national governments (36

By Dipo Olowookere It has been predicted that the value of the Naira to the United States Dollar will depreciate this week as a result of further decline in the foreign reserves of the country. Business Post reports that as at Thursday, August 29, 2019, the amount left the external reserves of Nigeria was $43.673 billion, lower than the $43.008 billion it was opened with on Monday, August 26, 2019, before depreciating to $43843 billion on that day. Giving its insight on what to expect in the week, Cowry Asset, a Lagos-based investment company, stated that, “We expect depreciation of

By Adedapo Adesanya The Beer Sectoral Group (BSG) of the Manufacturers Association of Nigeria (MAN) has announced the creation of N50 million fund to support those affected by the violence that erupted after peaceful #EndSARS protests across the country were disrupted. The section of the manufacturing association made the announcement via a statement posted on Twitter. The group, which comprises makers of the beer brands in the Nigerian market, denounced the spate of violence that has occurred around the country and called on other agencies to effectively work towards lending a hand to help the victims. “Over the past few

By Modupe Gbadeyanka Ogun State Governor, Mr Ibikunle Amosun, has urged Nigerians to uphold and strengthen the unity binding them, in order to fulfil the dream of the founding fathers. He gave this charge as Nigerians celebrate 57 years of the country’s independence. Speaking at the special Thanksgiving Service held to commemorate Nigeria’s 57th Independence anniversary, at the Cathedral of St. Peter, Ake, Abeokuta, the Governor, represented by his Deputy, Mrs Yetunde Onanuga, said, though, the nation has been experiencing series of challenges, ranging from insecurity, economic downturn, corruption, among others, the people still need to be united, noting that

By Modupe Gbadeyanka Nigeria joined the rest of the world to celebrate the International Day of Women and Girls in Science held on Thursday, February 11, 2021. This year’s event was themed Women Scientists at the forefront of the fight against COVID-19 and it provided an opportunity to look into ways females can be encouraged to increase their involvement in Science, Technology, Engineering and Maths (STEM). In Nigeria, the day was celebrated by Afro-Tech Girls, a non-profit organization focused on encouraging and empowering females in STEM. The organisation, in partnership with IHS Nigeria, a subsidiary of IHS Towers, organised a

By Dipo Olowookere In the first nine months of 2022, Access Holdings Plc improved its gross earnings by 30.9 per cent to N906.9 billion from the N693.1 billion recorded in the same period of 2021. This was boosted by the higher revenue from its corporate and investment banking segment, as well as the commercial banking business. In the financial statements released to the stock exchange, the company said it generated N497.5 billion from interest income, higher than the N395.1 billion achieved in the first nine months of last year, while the interest expense increased to N291.5 billion from N203.2 billion.

By Dipo Olowookere Four persons have been arrested in Ondo, Edo and Osun States for selling leaked WASSCE May/June, 2018 Examination questions to candidates writing the examination. The suspects, accused of retailing the exam questions on websites and whatsapps platforms, were apprehended by operatives of Rapid Response Squad (RSS). According to the security operatives who napped them, the suspects are Samuel Kayode, 28-year-old from Ondo State; Adebayo Ifeoluwa, 17-year-old from Osun State; Alayande Ahmed; and Elusode Festus, 20 years from Edo State. They were all arrested in their respective states. Samuel Kayode, a part time teacher in two secondary schools

By Adedapo Adesanya Konga, Nigeria’s leading composite e-commerce giant, is set to become one of the biggest employers of labour in Nigeria as it has unveiled plans to provide meaningful employment opportunities for over 500,000 Nigerians by 2025. The company also noted that it will be adding another 500,000 in other African countries by the set period. The development will see Konga not only on top of the employment charts in the private sector but will also see the company rival government and sub-national entities in terms of employment figures. The firm expressed optimism that this move will also significantly