Economy

Business Travel Tips For Nigerians This 2017

Published

9 years ago

05/01/2017

Modupe Gbadeyanka

By Nkem Ndem

Business travel is inevitable for most people in the Nigerian workforce. Aside from the fact that it contributes a lot to the economy and GDP of the country, it opens doors for the individual businessman or woman, opportunity seeker, and small scale business person or business owner.

In Nigeria, however, many companies view business travel simply as an expense and do not see the benefits that come from it. They, therefore, budget very little for it, making the trip in itself extremely tedious for the employee who gets the assignment to embark on the journey. The truth is, no matter the budget or destination, any Nigerian can survive a business trip by following certain rules. Jumia Travel offers 5 tips to aid Nigerians who regularly find themselves on the move for business.

Ensure you draft a packing list, and use it at all times

As a traveller, you already know what is essential to your trip and what is dispensable. However, before you set out on your journey, ensure you make a checklist where you include every item you will be travelling with, including personal documents and gadgets. This helps you remain organized and there is a very low risk of forgetting anything you need for the trip, or leaving it behind at your hotel. You really do not need to download an app or use software to do this; a pen and paper will suffice. Good thing is that once you make the list, you can always use it for every other business trip, only updating it where necessary.

Be punctual

Although some business trips might be impromptu, most are usually scheduled with ample time to make pre-arrangements. Do not leave your travel arrangements to the last minute and if the office is making the arrangements for you, ensure you follow up, making sure they keep you updated. Try and book your flight in advance. And on the day of the trip, get to the airport on time; check in on the way if you can, that way you limit every chance of missing your flight and dealing with the complications of a cancellation. Also ensure that you call ahead to notify the hotel and the car rental, and if you are being picked up by business partners at your destination, an early or scheduled arrival gives a good impression and hence a good start.

Make sure you keep your devices charging

When you are on the road, your devices should remain charged as they are what keeps you connected to your office and the contacts at your destination. Also, in this era of laptops and iPads, most of our information are stored as files on these gadgets. Charge these devices to full capacity before you set out on the trip, and even while on the trip, carry a travel charger and look out for ports where you can plug in and keep them charging. A great idea will be to pack a power bank which is very portable. Also, you can travel with extra batteries.

Stay on top of your expenses

When you are on business trip, usually your expenses are catered to by the office management. In most cases, there will be a budget while in other cases you would be asked to bring back a list of costs insured for reimbursement. Whatever the case, it is important to stay on top of your expenses. The office will not reimburse you for everything. Take a small jotter to record your expenses and ensure you write on the back of each receipt where you were or the reason for the expense. Keeping track of all your purchases and expenses will help you stick to your budget and will make writing a report easier.

Ignore the minibar and room service

The minibar poses a huge temptation for most business travellers as it is usually easy to just reach into the fridge and snack on something while working. But the thing about most minibars is that the price of the items in the minibar is highly inflated and never worth the convenience. Even the room service comes at an extra charge and also deprives you the chance to stretch your legs and drink in the ambiance of the hotel surroundings. The fact that you are on a business trip, does not mean you are confined to the hotel. Forget the minibar and room service, go out to local restaurants and stores far away from your hotel, mingle with others and explore in your free hours. Rather than spend more in the hotel, you will gain enriching experiences that you can share with your colleagues upon your return to the office.

Nkem Ndem is a PR Associate at Jumia Travel.

Economy

NASD Market Falls 1.18% to Extend Losing Streak

Published

6 hours ago

14/03/2026

Adedapo Adesanya

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange extended its stay in the south for the fourth consecutive session after it shed 1.18 per cent on Friday, March 13.

The unlisted securities market recorded a loss despite closing without a price decliner, and ending with two price gainers led by Geo Fluids Plc, which gained 1o Kobo to sell at N3.10 per share compared with the previous day’s N3.00 per share. Industrial and General Insurance (IGI) Plc appreciated during the session by 2 Kobo to trade at 54 Kobo per unit versus Thursday’s closing price of 52 Kobo per unit.

When the market closed for the day, the market capitalisation lost N29.83 billion to close at N2.489 trillion compared with the N2.519 trillion it finished a day earlier, and the NASD Unlisted Security Index (NSI) crashed by 49.84 points to 4,160.46 points from 4,210.31 points.

Market activity improved yesterday, as the volume of transactions rose 179.5 per cent to 10.4 million units from 3.7 million units, but the value of trades declined by 68.4 per cent to N29.9 million from N95.0 million, while the number of deals weakened by 11.5 per cent to 46 deals from 52 deals.

Central Securities Clearing Systems (CSCS) Plc remained the most active stock by value on a year-to-date basis with 38.4 million units worth N2.4 billion, Okitipupa Plc followed with 6.4 million units traded at N1.1 billion, and FrieslandCampina Wamco Nigeria Plc transacted 6.3 million units for N584.3 million.

Resourcery Plc ended the trading session as the most traded stock by volume on a year-to-date basis with 1.1 billion units valued at N415.6 million, trailed by Geo-Fluids Plc with 130.8 million units valued at N504.5 million, and CSCS Plc with 38.4 million units worth N2.4 billion.

Economy

Naira Trades N1,366/$1 at Official Market, N1,400/$1 at Black Market

Published

6 hours ago

14/03/2026

Adedapo Adesanya

By Adedapo Adesanya

The Naira continued to claw back some gains against the Dollar in the different segments of the foreign exchange (FX) market, as its value was strengthened on Friday.

In the black market, it gained N10 against the United States Dollar yesterday to close at N1,400/$1 compared with the preceding day’s rate of N1,410/$1, and at the GTBank forex counter, it chalked up N6 to close at N1,385/$1, in contrast to the N1,391/$1 it was traded a day earlier.

Similarly, in the Nigerian Autonomous Foreign Exchange Market (NAFEX), it appreciated against the greenback during the session by N5.28 or 0.38 per cent to quote at N1,366.23/$1 versus Thursday’s closing price of N1,371.51/$1.

It also improved its value against the Pound Sterling in the official market on Friday by N21.81 to settle at N1,812.99/£1 compared with the previous day’s N1,834.80/£1, and gained N13.86 against the Euro to sell at N1,568.03/€1 versus N1,581.89/€1.

Pressure eased further on the FX market as the Central Bank of Nigeria (CBN) continued interventionist operations this week, selling Dollars to banks to boost liquidity after a $500 million boost last week.

This was complemented by inflows from foreign investors, exporters and non-bank corporates, among others, while Nigeria’s gross external reserves remained above $50 billion, the highest since 2009.

The Governor of the apex bank, Mr Yemi Cardoso, also eased fears of a Naira devaluation, saying the country’s financial system has been strengthened by reforms.

Regardless, external pressure looms as the US Dollar strengthened globally due to its war with Iran, now ongoing for three weeks.

Meanwhile, the cryptocurrency market was largely down as traders and investors continue to align with current realities.

The market is adapting to the conflict in real time. Early in the war, every headline produced an outsized reaction because nobody could price the tail risk. Now, traders have a framework where strikes happen, oil spikes and bitcoin dips only to recover again.

Cardano (ADA) depreciated by 3.8 per cent to $0.2623, Dogecoin (DOGE) lost 1.7 per cent to finish at $0.0948, Ripple (XRP) slumped 1.5 per cent to $1.39, Solana (SOL) dropped 1.4 per cent to sell for $87.33, Binance Coin (BNB) went down by 1.3 per cent to $653.58, Bitcoin (BTC) declined by 1.1 per cent to $70,670.63, and Ethereum (ETH) decreased by 0.9 per cent to $2,078.78.

However, TRON (TRX) appreciated by 1.7 per cent to $0.2941, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 apiece.

Economy

Oil Stays Above $100 as Strait of Hormuz Traffic Stalls

Published

6 hours ago

14/03/2026

Adedapo Adesanya

By Adedapo Adesanya

The price of the major crude oil grade, Brent crude oil, closed above $100 on Friday for the second consecutive session, as the Iran war heads toward its third week, with oil tanker traffic through the Strait of Hormuz still effectively at a standstill.

It gained 2.67 per cent or $2.68 during the trading day to close at $103.14 per barrel, while the US West Texas Intermediate (WTI) crude oil grade appreciated by 3.11 per cent or $2.98 to settle at $98.71 per barrel.

Brent futures were up about 10 per cent for the week following the 27 per cent rise seen last week, which marked the biggest weekly gain in oil prices since the COVID-19 pandemic in 2020. WTI futures, which saw their best week since 1983 last week, ended the week more than 8 per cent higher.

US President Donald Trump said American forces launched a major bombing raid on Iran’s strategic Kharg Island, targeting military facilities on the key Persian Gulf outpost while warning Iran that its vital oil infrastructure could be destroyed if shipping in the Strait of Hormuz is disrupted.

The terminal accounts for roughly 90 per cent of Iranian crude shipments, loading millions of barrels per day onto tankers bound largely for Asian markets.

The US and Israel’s strikes in the conflict have largely targeted Iranian military and nuclear infrastructure. Oil facilities elsewhere in Iran have been hit, but Kharg’s massive storage tanks, jetties, and pipelines had remained untouched until the latest strike.

Iran’s new supreme leader, Mojtaba Khamenei, vowed to keep fighting in a message delivered via state television.

There have been a number of attacks on foreign ships in or near the Strait, feeding into concerns that a prolonged war could translate to a global economic shock.

Prices are rising despite the US and its allies rolling out some measures to keep a lid on energy costs.

The International Energy Agency (IEA) has agreed to release 400 million stockpiled barrels, the largest such action in history.

The US has issued a 30-day waiver for India to purchase sanctioned oil from Russia. President Donald Trump is considering loosening rules under the Jones Act that require American ships to transport goods between domestic ports, including oil and gas, in an effort to lower costs.

Traders are continuing to monitor developments in the Middle East.