Buhari Flags Off Eastern Railway Rehabilitation Project

By Aduragbemi Omiyale Some retiring Nigerian military personnel have been educated on how they can unlock opportunities in the capital market after active service to the nation. At a seminar held on Thursday, December 7, 2023, at the Nigeria Armed Forces Resettlement Centre in Lagos, the participants were informed of the benefits of diversifying their investments for more earnings. They were also exposed to ways to invest and assess the market with technology, including via the recently launched NGX USSD Code. The Divisional Head of Business Support Services and General Counsel of the Nigerian Exchange (NGX) Limited, Ms Irene Robinson-Ayanwale,

By Precious Olisa The Lagos Chamber of Commerce and Industry (LCCI) and the Nigeria Employers’ Consultative Association (NECA) have expressed their disappointment over the increasing exit of multinationals from the Nigerian market. The two organisations reacted to the planned exit of Procter & Gamble (P&G) from the country over economic headwinds. P&G announced its intention to close down its manufacturing operations in Nigeria and adopt an import-only business model due to the foreign exchange (FX) crisis in the country. This is coming some weeks after GlaxoSmithKline (GSK), Sanofi, Unilever Nigeria, Equinor and others have also indicated their interest in quitting

By Dipo Olowookere The Nigerian Exchange (NGX) Limited depreciated by 0.49 per cent on Thursday, driven by selling pressure on banking equities, especially those in the tier-1 category. The likes of GTCO, FBN Holdings, Access Holdings witnessed sell-offs during the trading session, contributing to the weak investor sentiment observed at the Nigerian stock market. According to data obtained by Business Post, the NGX ended with 29 price losers and 24 price gainers, indicating a negative market breadth index. FBN Holdings ended as the heaviest price decliner after it shed 9.86 per cent to settle at N26.50, Secure Electronic Technology fell

By Adedapo Adesanya The Nigerian National Petroleum Corporation (NNPC) has disclosed that Nigeria’s crude oil and gas export increased by 94.3 percent month-on-month in January 2020. The national oil company, in its first Monthly Financial and Operations Report (MFOR) for the year released in Abuja, on Wednesday, stated further that the total revenue from oil and gas within the period amounted to $434.85 million It also said that during the month under review, crude oil export sales contributed $336.65 million (77.42 percent) of the dollar transactions for the period, compared with the $136.36 million in the previous month, December 2019.

By Adedapo Adesanya The Socio-Economic Rights and Accountability Project (SERAP) has petitioned the United Nations over what it described as a vicious assault on Justice Mary Odili. SERAP in a petition dated November 13, 2021, by its deputy director, Mr Kolawole Oluwadare specifically urged Mr Diego García-Sayán, the UN Special Rapporteur on the independence of judges and lawyers to “put pressure on the government of President Muhammadu Buhari to conduct a credible, thorough, impartial, independent, transparent, and effective investigation into the vicious assault on Supreme Court Justice Mary Odili by rogue officials.” SERAP also urged him to “ask the Nigerian

By Modupe Gbadeyanka The Interswitch Group has announced that it would offer free tutorials to prospective and existing candidates of the forthcoming JAMB/UTME examination. A statement from the company disclosed this gesture is part of its commitment to promote quality education in Nigeria. The tutorials will commence a few weeks before the examination and are exclusive to candidates who register on Interswitch enabled platforms such as Quickteller Mobile App/Web, Quickteller Paypoint (Agents) and Interswitch WebPAY on JAMB’s website, the firm stated. According to Interswitch, there would be 84 virtual classes during the course of the tutorials that will cover Mathematics,

The first Pullman branded hotel and serviced apartments in Ghana, Pullman Accra Airport City, is seeking to achieve IFC’s EDGE green building certification. The 364-key hotel and serviced apartments will become the largest hospitality development and the first dual hospitality offering in Ghana when it opens in 2021. A consultant to the project, Annelide Sherratt, told News Ghana that owners of the soon-to-open, ultra-modern hotel are currently undergoing the EDGE certification process. To become certified, the hotel must demonstrate a minimum savings of 20 percent in three areas: energy, water and embodied energy in materials, as compared to a standard

By Investors Hub European markets have edged higher on Friday, staging a modest recovery after a subdued start. Investors are keenly following the developments on the trade front and hoping the latest round of stimulus measures announced by central banks will help revive economic growth. While the French CAC 40 Index has risen by 0.4 percent, the U.K.?s FTSE 100 Index and the German DAX Index are up by 0.2 percent and 0.1 percent, respectively. Shares of French IT services company Alten have shown a significant move to the upside following a rating upgrade by SocGen. In economic news, German

By Modupe Gbadeyanka One of Nigeria’s longest standing and most respected financial institutions, Union Bank, has announced its audited financial statements for the year ended December 31, 2016. During the period, the lender said its customer deposits rose by 15 percent to N658.4 billion versus N570.6 billion as at December 31, 2015), thanks to new product offerings, increased market penetration and improved customer off-take by the firm. Also, Union Bank’s pre-tax profit increased by 6 percent to N15.7 billion compared with N14.9 billion in 2015, while its gross earnings went up 8 percent to N126.6 billion against N₦117.2 billion in

By Aduragbemi Omiyale The Oyo State government has maintained that its decision to register all commercial motorcycle and tricycle riders in the state was to promote public safety and not for any other purpose. The Commissioner for Information and Civic Orientation, Mr Dotun Oyelade, said this during a one-day sensitisation meeting with Okada and Keke riders in Ibadan. He explained that the meeting became necessary following a recent state security council meeting, noting that the exercise will help in the documentation of riders in the state. The Commissioner called for sustained cooperation between motorcycle and tricycle riders and the state

By Dipo Olowookere The manufacturing sector in Nigeria recorded a further growth in the month of December 2017, the Central Bank of Nigeria (CBN) has revealed. According to the apex bank’s Purchasing Managers’ Index (PMI) for December 2017, the sector’s index expanded to 59.3 index points in the period under review from 55.9 index points recorded in the month of November 2017. This, the central bank said, indicated expansion in the manufacturing sector for the ninth consecutive months. The report said 15 of the 16 subsectors reported growth in the review month in the following order petroleum & coal products;