Brent, WTI Shrink on Macroeconomic Worries, Profit Taking

By Bliss Okperan, Adedapo Adesanya  The cost of cooking a pot of jollof rice, one of the most consumed foods daily in Nigeria, has surged by 37.4 per cent, according to research carried out by Business Post. Using market data and the most recent food price watch by the National Bureau of Statistics (NBS), major food items in making the delicacy, including rice, groundnut oil, tomatoes, and onions, among others have recorded a massive increase within the past year, making it hard for the average Nigerian to survive. According to NBS, 1 kilogram of Rice cost N757.06 in 2023 as

By Adedapo Adesanya The federal government has set plans in motion to raise $200 million from philanthropic individuals and organisations as part of efforts to create jobs and support Micro, Small, and Medium Enterprises (MSMEs) in Nigeria. Nigeria is home to over 36.9 million MSMEs, comprising 96.7 per cent of all businesses in Nigeria. According to data, 67 per cent of these businesses are youth-owned. MSMEs contribute over 45 per cent to the country’s gross domestic product (GDP), with 98.8 per cent of them in the micro cadre. They account for nearly 90 per cent of the jobs in the

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange fell into the danger zone on Tuesday, November 28, as it recorded a 1.14 per cent loss after the price of three securities on the platform closed lower. This chopped off N13.33 billion from the NASD OTC securities exchange at the close of transactions, going down to N1.158 trillion from the N1.171 trillion it ended in the previous session. Business Post reports that the effort of a price gainer yesterday could not save the NASD Unlisted Security Index (NSI) from declining by 9.84 points to 854.67 points from the 864.51 points

By Dipo Olowookere Former Ivorian international, Yaya Toure, has made his first Premier League start under coach Pep Guardiola. Toure had been left out of Guardiola’s team since the start of the season over a misunderstanding with the player’s agent, Mr Dimitri Seluk. The former Bayern coach said it was wrong for Mr Seluk to criticise him in public and then vowed never to use Toure until he is apologised to. This forced Toure to publicly apologise to the coach and Manchester City about two weeks ago in order to save his career at the club. Under former City coach,

By Ebitonye Akpodigha The ECOWAS Parliament has begun its Second Ordinary Session to consider and adopt the reports of the Committee with responsibility to prepare the preliminary draft of its 2017 budget. The two-week session, also referred to as the statutory budget session, which began on Thursday, in Abuja, will hold till October 7. The Committee on Administration, Finance, Budget Control and Audit is responsible for preparing the preliminary draft budget, the News Agency of Nigeria (NAN) reports. The session will also receive the report on the Current State of the Community from the President of ECOWAS Commission, Mr Alain

By Aduragbemi Omiyale All is now set for the formal launch of NG Clearing Limited, the first central counterparty (CCP) in West Africa, on Thursday, December 9, 2021. This development is already causing a frenzy in the Nigerian financial services sector as the various stakeholders are anticipating this day because of the transformation it would bring to the ecosystem. The launch of NG Clearing precedes the trading of the first exchange-traded derivatives in the Nigerian capital market and opens new opportunities for investors, stakeholders, and other players in Nigeria’s capital market. As the premier CCP in Nigeria, NG Clearing will

By Timi Olubiyi, PhD As businesses grow, the chase is usually for profit maximization, they introduce new products or services, create new marketing plans, invest in human capital and technology, all for expansion, better returns, and to gain a competitive edge. However, with all these efforts to maximize profits, the mechanism to survey and gauge customer feedback is most times missing. This is where customer experience comes in and it falls within the non-financial business performance indicator. Customer experience is so important and yet business operators rarely pay attention to it, this is why I am giving my opinion on

By Modupe Gbadeyanka Entries for the 2019 edition of the annual National Essay Competition organised by the corporate social responsibility arm of the United Bank for Africa (UBA) Plc, UBA Foundation, have commenced. At a media launch to herald the competition in its ninth series last week, the CEO of UBA Foundation, Mrs Bola Atta, explained that the educational contest will provide an opportunity for students in secondary schools across the country to put in their entries and to win prizes in the form of educational grants to study in any university of their choice on the African continent. At

By Adedapo Adesanya The Osun State Government is targeting the creation of 10,000 jobs in the state following the flag-off the Osun Ethanol Bio-Refinery Factory on Thursday. Speaking at the event, the Governor, Mr Adegboyega Oyetola, said that the facility will stimulate the economy of the state towards socio-economic growth, development and sustainability. The ethanol Bio-Refinery Factory situated at Ayekale, along Egbeda-Iragbiji Road, Iragbiji, Boripe Local Government Area of the State, would be achieved through a robust and mutually-benefitting Public-Private-Partnership (PPP). He said the administration would collaborate with partners and private investors to achieve the dream of making Osun the

By Aduragbemi Omiyale The $4 billion Eurobond issued to offshore investors last year by Nigeria has been taken to the Nigerian Exchange (NGX) Limited for trading at the secondary market. The bond was issued in 2021 by the Debt Management Office (DMO) to raise funds to support the fiscal year’s budget deficit. Last week, the debt office took the debt instrument to the FMDQ Securities Exchange for listing, giving investors, especially those in the domestic end, who missed the opportunity to buy the paper, to buy through the secondary market. Business Post reports that the Dollar-denominated bond was listed on

By Modupe Gbadeyanka The National Bureau of Statistics (NBS) on Friday said the consumer price index (CPI), which measures inflation, eased by 0.06 percent in month of February. A report released today by the stats office disclosed that the inflation rate stood at 11.31 percent (year-on-year) in February 2019 against 11.37 percent recorded in January 2019. It was further disclosed that increases were recorded in all COICOP divisions that yielded the headline index, with the index dropping 0.01 percent month-on-month to 0.73 percent in February 2019 against 0.74 percent in January 2019. The percentage change in the average composite CPI