BREAKING: FG Increases Petrol Price to N212 Per Litre

By Dipo Olowookere The last trading day of November 2023 on the floor of the Nigerian Exchange (NGX) Limited ended on a bullish note by 0.11 per cent on Thursday. Mild bargain-hunting in industrial goods equities like Lafarge Africa, supported by Airtel Africa, GTCO and other financial stocks left the market in the green territory at the close of business. Consequently, the All-Share Index (ASI) increased by 81.91 points to settle at 71,365.25 points compared with the preceding day’s 71,283.34 points, and the market capitalisation grew by N44 billion to N39.052 trillion from N39.008 trillion. Business Post reports that the

By Adedapo Adesanya Crude oil prices fell on Thursday members of the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) agreed to voluntary output cuts for the first quarter of next year, falling short of market expectations. As a result, Brent crude futures lost 27 cents or 0.3 per cent to close at $82.83 per barrel, and the US West Texas Intermediate (WTI) crude futures went down by $1.90 or 2.4 per cent to $75.96 a barrel. On a monthly basis, Brent fell by 5.2 per cent while WTI was down by 6.2 per cent. Saudi Arabia, Russia

By Adedapo Adesanya A milk-producing company, FrieslandCampina Wamco Nigeria, helped the NASD Over-the-Counter (OTC) Securities Exchange return to the green territory by 0.54 per cent on Wednesday, November 29. The firm improved its value by N3.50 in the midweek session to settle at N73.50 per share compared with the previous day’s closing price of N70.00 per share. It suppressed the 10 Kobo decline posted by Central Securities Clearing System (CSCS) Plc, which ended lower at N17.00 per unit versus Tuesday’s value of N17.10 per unit. Consequently, the market capitalisation of the alternative stock exchange went up by N6.28 billion to

By Adedapo Adesanya The return of the bears was averted at the NASD Over-the-Counter (OTC) Securities Exchange on Thursday by Central Securities Clearing System (CSCS) Plc, which helped the alternative bourse close marginally higher by 0.03 per cent. This slight growth increased the value of the OTC exchange by N380 million, closing relatively flat at N1.165 trillion, as the NASD Unlisted Security Index (NSI) increased by 0.27 points to end the day at 859.58 points compared with the previous day’s 859.31 points. During the trading day, the value of CSCS Plc went up by 8 Kobo to settle at N17.08

By Modupe Gbadeyanka On Saturday, March 26, 2022, one of the leading premium spirit brands, Lord’s London Dry Gin, rolled out the drums to celebrate Nigerian innovators. The impact makers were honoured amid pomp and pageantry at the Landmark Event Centre, Lagos at the fourth edition of the Lord’s Achievers Awards. “Since the establishment of the Lord’s Achievers Awards in 2018, we have worked towards the vision with doggedness, birthing a platform that helps us to fulfil our desire to celebrate the journey towards success and every achievement along the way. “Today, we recognise young, exceptional, and outstanding people who

By Dipo Olowookere A partnership has been signed between the United Nations Children’s Fund (UNICEF) and the Cameroon arm of the United bank for Africa (UBA). The partnership signed between both parties on Thursday, September 27, 2018, is for the promotion of children’s rights. A statement issued by UNICEF disclosed that the partnership was in line with the mission of both organisations. “For UNICEF Cameroon, to work with partners in the private sector and have them play an active role in the promotion of children’s rights and to ensure their active and efficient participation in the living of these rights,”

By Kester Kenn Klomegah In order to raise its geopolitical influence, Russia has been making efforts identifying mega infrastructure projects such as nuclear power and energy, natural resources exploration and talks consistently about increasing trade with Africa. On the other hand, Russia primarily needs to work on a coordinated mechanism for financing these corporate policy initiatives and further push for increased trade with Africa. On November 23, a videoconference organized by Federation Council of Russia, Chamber of Commerce and Industry of Russia and Business Russia Association, focused partly on identifying funding sources for exports, concretizing proposals for increasing exports to

By Adedapo Adesanya The National Insurance Commission (NAICOM) has given a go-ahead to all conventional insurance companies across the country to transact micro-insurance businesses to support financial inclusion and increase insurance penetration. A circular released by the commission in Abuja yesterday said the authorisation takes effect from December 1, 2020. The circular said that conventional insurance companies should henceforth apply for a micro-insurance national operation license before they would be allowed to operate the window. According to the agency, “insurers shall seek and obtain approval from the commission before transacting micro insurance and the board of the company shall approve

By Investors Hub European stocks have moved to the downside on Monday after a raft of Chinese data proved to be a mixed bag. The euro is little changed against the dollar after Eurostat data showed Eurozone trade surplus dropped to 16.9 billion euros in May from 18.0 billion euros in April, as imports grew faster than exports. While the U.K.?s FTSE 100 Index has slumped by 1 percent, the French CAC 40 Index is down by 0.3 percent and the German DAX Index is down by 0.1 percent. Mining and energy stocks are moving lower on concerns about slowing

By Modupe Gbadeyanka The Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Mr Mele Kyari, on Wednesday said the state-owned oil agency will no longer operate the country’s refineries after their rehabilitation. Speaking today in an interview on Arise TV breakfast programme, The Morning Show, he said upon completion of the ongoing rehabilitation exercise, the refineries would be handed over to a private firm on an Operations and Maintenance (O&M) basis. “We are going to get an O&M contract, NNPC won’t run it. We are going to get a firm that will guarantee that this plant would run for

By Modupe Gbadeyanka One of the major pay TV providers in Nigeria, StarTimes, has announced the introduction of daily and week subscriptions in addition to the already monthly subscription. Announcing this on Thursday, October 19, 2017 via its Twitter handle, the firm said subscribers can now pay for what they view at a very cheap rate. “NIGERIA: What if we told you that you can now pay per day, per week & per month? “Nigeria: It gets better. You can now watch as much as 30 Channels with N60 ONLY. “Nigeria: Entertainment just got subsidized. Enjoy over 40 TV channels

By Adedapo Adesanya The Manufacturers Association of Nigeria (MAN) has called on the Central Bank of Nigeria (CBN) to set an exchange rate trading band for them to help staunch rising manufacturing costs worsened by illiquidity in the foreign exchange (FX) market, which has weakened industrial production since President Bola Tinubu carried out reforms in June. In a statement on Wednesday, the body said, “Despite the recent reform to unify all forex windows, the exorbitant premium that persists between the official and parallel exchange rates have further stalled manufacturing operation.” Speaking on ways to improve this, it said, “The short-term