Crude Oil Closes 2% Higher Amid Worries

By Dipo Olowookere No fewer than 15 Nigerian Small and Medium-sized Businesses (SMBs) will share the N75 million set aside by a tech giant, Google, in the 2023 edition of Hustle Academy Fund. The initiative was introduced in 2022 to provide equity-free funds to small business owners to scale up their operations and support entrepreneurial growth in Nigeria. Entries for the exercise opened on Thursday, September 28 and will close on Thursday, October 12, 2023, and to be eligible, businesses must be Nigerian-founded, operating within Nigeria for 1-5 years, and have a clear and scalable business plan. They should have

By Adedapo Adesanya The cryptocurrency market witnessed an uptick on Wednesday, with Bitcoin (BTC) managing to stay above the $26,000 level even as the US Dollar index rose to a new year-to-date high. Data obtained by Business Post showed that the most valued crypto, BTC, posted a 0.7 per cent appreciation during the midweek session to trade at $26,408.37 in the last 24 hours. On the part of the second-most valued digital coin, Ethereum (ETH), it remained in the $1,600 mark and it improved its value yesterday by 1.6 per cent to sell at $1,610.94. At the trading session, the US

By Adedapo Adesanya The oil market retreated on Thursday, as traders took profits after prices soared recently while the space worried that high interest rates may weigh on demand. During the trading session, Brent futures fell by $1.17 or 1.2 per cent to settle at $95.38 a barrel and the US West Texas Intermediate crude (WTI) declined by $1.97 or 2.1 per cent to close at $91.71 per barrel. The market had reached a 10-month high as some traders worried high oil prices would stoke inflation, encouraging the US Federal Reserve and other central banks to persist with rate hikes.

By Bliss Okperan A lady who reviewed a product of Erisco Foods Limited, Nagiko Tomato Mix, Mrs Chioma Egodi, has threatened to demand the sum of N500 million from the chief executive of the company, Mr Eric Umeofia, for violating her fundamental human rights. Mrs Egodi said she purchased the product at the market with the intention of using it to cook stew for her family. However, when she tasted it, according to her, it tasted too much sugar, prompting her to post about it on Facebook. It was reported that Erisco was not happy with the negative review. She

By Aduragbemi Omiyale Normalcy was restored at the Murtala Mohammed International Airport (MMIA) Lagos on Monday afternoon after workers of the Nigerian Aviation Handling Company (NAHCO) Plc disrupted flight operations this morning. The aviation workers had embarked on an indefinite strike action to ask for a better welfare package from the management of the company. Their action left many air passengers stranded on Monday morning, with operators suspending their flights in the process. But the industrial action was later called off by the leaders of the Air Transport Services Senior Staff Association of Nigeria (ATSSSAN) and the National Union of

By Modupe Gbadeyanka Synchronoss Technologies, Inc. (NASDAQ:SNCR), a global leader and innovator of cloud, messaging, digital and IoT products and platforms, has announced the election of Kris Rinne to Synchronoss’ board of directors. Rinne, who held a number of senior executive positions at AT&T’s family of companies over the course of almost four decades, most recently served as senior vice president, network and product planning, at AT&T Services, Inc. In this role, she was responsible for leading the team charged with planning the technology evolution of AT&T’s global IP backbone, the wireless network, wireless device requirements and certification, as well

Rivers State Chapter of the All Progressives Congress (APC) has denied reports that it requested the completion of projects by the previous administration as pre-condition for accepting the olive branch offered by the state Governor, Mr Nyesom Wike. In a statement issued in Port Harcourt, Rivers State, the party said “no such pre-conditions were issued in whatever form, publicly or privately.” Spokesman of the Rivers APC, Mr Chris Finebone, disclosed that, “For the avoidance of doubt, we stand by the suggestions made through Senator Andrew Uchendu at a press conference as the way out of the present state of insecurity

Ahmed Rahma A leading player in the non-for-profit and women empowerment sector in Nigeria, Women in Successful Careers (WISCAR), has said one of the two contestants for the World Trade Organisation (WTO) director-general job, Dr Ngozi Ogozi-Iweala, will be at its annual conference. The former Minister of Finance is the keynote speaker at the 2020 edition of the yearly leadership and mentoring seminar, which will hold virtually on Saturday, November 28, 2020. A statement from the organisers said the event will feature key industry leaders who will lead proactive round table discussions on the theme The Future We Want. In

Being text of a speech delivered by the Executive Director of  Beyond Boundaries Legacy Leadership Initiative, Comrade Omaga E. Daniel on the occasion of the Diversity for Peace and Development (DPDP) Ambassadors Recognition on August 12, 2018 in Keffi, Nasarawa State. Al Protocols Duly Observed. Ladies and gentlemen of the press, invited guests, BBLLI team members and volunteers, I welcome you to today’s epoch making event! In the last three years, the BBLLI has in line with its core mandate consistently sought partnerships with relevant organizations be they government, educational, religious, security and even international that share in our belief

By Modupe Gbadeyanka The popular Jabi Lake Mall in Abuja has been shut down by the management over security threats, a statement from the company has confirmed. A few days ago, the United States and the United Kingdom governments issued a security alert to their citizens in Nigeria, warning that there could be attacks from terrorists. These warnings were rebuffed by the Nigerian government, which urged residents of the country to remain calm as their lives and property were in safe hands. On Wednesday, it was reported that two suspects were allegedly arrested at an estate in Abuja with explosives

By Dipo Olowookere It was a positive start for Nigerian stocks on Monday as they appreciated by 0.37 per cent after enduring a string of losses in the past trading sessions. The Nigerian Stock Exchange (NSE) recorded this growth on the back of renewed bargain hunting in value equities as well as positive investor sentiment. This reflected in the market breadth, which had 31 price gainers and 13 price losers. According to the price movement chart, Seplat was the best-performing stock as it appreciated by 10 per cent to close at N544.50 per unit. Japaul improved by 9.86 per cent

By Adedapo Adesanya The International Monetary Fund (IMF) has stuck to its forecast that Nigeria’s economy will grow by 2.7 per cent this year, just as it raised its forecast for 2023 to 2.7 per cent from the 2.6 per cent it projected last year. The new GDP growth forecast for Nigeria was contained in the IMF’s January World Economic Outlook (WEO) report released on Tuesday. This is as the Bretton Wood institution lowered its global economic growth forecast for this year, as the Omicron variant continues to spread unabated and supply chain disruptions stoke inflation amid higher energy prices.