Buhari to Sign Revised N10.8trn 2020 Budget Today

By Adedapo Adesanya Equinor and Chappal Energies have entered into an agreement for the sale of Equinor Nigeria Energy Company (ENEC), which holds a 53.85 per cent ownership in oil and gas lease OML 128, including the unitized 20.21 per cent stake in the Agbami oil field, operated by Chevron. Speaking on the deal, Equinor’s senior vice president for Africa Operations, Ms Nina Koch, said Nigeria has been an important part of Equinor’s international portfolio over the past 30 years, noting that, “This transaction realizes value and is in line with Equinor’s strategy to optimize its international oil and gas

By Modupe Gbadeyanka Business owners in Lagos have been assured of more incentives by the state governor, Mr Babajide Sanwo-Olu, who added that this is part of his administration’s commitment to reforms aimed at improving the ease of doing business and enhancing investment opportunities. Speaking at the commissioning of the newly-built wet hair production factory of Godrej Nigeria Limited, the Governor said his government would continue to pursue actions that would eliminate red tapes and regulatory impediments hindering the growth of businesses in the state, thereby demonstrating his willingness for continued collaboration with the private sector to improve the livelihood

By Adedapo Adesanya The trio of Newrest Asl Plc, FrieslandCampina Wamco Nigeria Plc, and Acorn Petroleum Plc made the NASD Over-the-Counter (OTC) Securities Exchange appreciate by 0.14 per cent on Friday, December 1. The three gainers pressed down the 8 Kobo loss reported by UBN Property Plc, which closed the trading session at N1.52 per unit compared with the preceding day’s value of N1.60 per unit. During the trading day, Newrest Plc gained N1.46 to close at N16.10 per share compared with Thursday’s closing price of N14.64 per share, FrieslandCampina Wamco Plc moved up by 60 Kobo to end the

By Adedapo Adesanya  The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has projected that its Industry Sustainability Initiative (NISI) will create over $575 billion in capital investment opportunities for Nigeria through the decarbonisation of operations. According to a statement, NMDPRA, while hosting a session on Nigeria’s Pathway to Energy Sustainability and NMDPRA’s Role at the UN Climate Change Conference 2023 (COP28) in Dubai, UAE, x-rayed Nigeria’s journey towards reducing carbon emission and achieving Net Zero by 2060. Speaking at the event, Mr Mustapha Lamorde, the authority’s Executive Director on Health, Safety, Environment and Community (HSEC), said the investment would be

By Ezedi Udom E-commerce platforms have proven to be critical enablers of economic growth and social development for Nigeria in spite of the myriad challenges occasioned by the tough operating environment. A key player, Jumia is fostering cashless and financial inclusion by encouraging Nigerians to move from brick-and-mortar malls to selling and shopping online and making payment for goods online thereby promoting the digital economy. With Jumia online marketplace, usage of electronic transactions in Nigeria continues to increase, banks are becoming more innovative with electronic banking products and services while more fintech companies are investing in the economy. Jumia is

Introduction Software engineering has always been the fundamental pillar of the Information Technology industry. A software engineer job profile is also considered one of the most secured career domains in terms of employment rate. According to a report by the United States Bureau of Labor Statistics, 1,847,900 Software Developers, Quality Assurance Analysts, and Testers are currently working in the country. These numbers are expected to grow up to 22% by 2030. So, if you are in the middle of your computer science degree program, you are on the right path for a lucrative career. Meanwhile, we are backing you up

By Adedapo Adesanya  Brent crude futures fell below $60 on Friday, posing a threat to Nigeria’s 2020 budget, which put oil benchmark at $60 per barrel, as the spread of the coronavirus in China continues to affect demand due to restrictions placed on travel. The bearish performance for the Brent crude continued as it further dropped 2.14 percent equivalent to $1.31 to trade at $59.97 per barrel on Friday night at the global market. Also, the US West Texas Intermediate (WTI) crude further moved down by 2.32 percent or $1.29 to trade at $54.30 per barrel. This performance was the

Governor Emeka Ihedioha of Imo State has promised to involve professionals from various fields in his soon-to-be constituted cabinet. Speaking during the inauguration of Heartland Professionals Network in Owerri on Thursday, the Governor pledged his readiness to partner professional bodies and members of the organized private sector in ensuring genuine development in the State. Represented at the event by his deputy, Mr Gerald Irona, the state’s number one citizen reiterated the determination of his administration to entrench transparency and accountability in governance, promising not to fail people of the state. He lamented the level of decay in the state, promising

By Adedapo Adesanya Revenues from financial technology (fintech) companies could grow by 800 per cent to reach $30 billion by 2025, consultancy firm McKinsey & Company has revealed. As the fastest-growing start-up industry on the continent, African fintech raised over $1,3 billion in 2021 alone; the success of fintech companies is being fuelled by several trends, including increasing smartphone ownership, declining internet costs,  expanded network coverage, and a young, fast-growing, and rapidly urbanizing population. African fintech has a significant impact on day-to-day life on the continent, and with its current upward trend, it can be perfectly poised to rapidly advance

By Adedapo Adesanya The Lagos Chamber of Commerce and Industry (LCCI) has urged the Central Bank of Nigeria (CBN) to reduce the Cash Reserve Ratio (CRR) so as to increase credit to the private sector. Business Post reports that a cash reserve ratio is a part of the total deposits of customers commercial banks keep with the central bank as reserves. In Nigeria, the CBN requests banks to have a minimum a CCR of 22.5 percent. But President of the LCCI, Mr. Babatunde Ruwase, while speaking with The Nation, said the 22.5 percent CRR requested by the CBN was too

By Adedapo Adesanya Crude oil prices traded higher on Friday, recouping much of the losses from a day earlier blamed on the strength in the Dollar as the market expects slower growth in output from the United States. The international benchmark, Brent crude futures, gained 43 cents or 0.59 per cent to trade at $73.51 per barrel, while the US benchmark, West Texas Intermediate (WTI) crude futures, went up by 0.85 per cent or 60 cents to sell at $71.64 per barrel. The bullish trend pushed crude prices to a fourth straight week of gains. This happened as the Organisation