Phase One of Dala Inland Dry Port in Kano to Gulp N2.3bn

By Dipo Olowookere Transactions worth N30.379 billion were recorded at the Nigerian Exchange (NGX) Limited last week, which had four trading sessions due to the public holiday observed last Wednesday for Eid-el Maulud. Data obtained by Business Post showed that the stock market posted these trades from the sale of 3.911 billion shares in 38,536 deals. When compared with the preceding week, which had five trading days, the value of transactions weakened by 36.00 per cent, as investors bought and sold 2.933 billion shares valued at N47.449 billion in 44,654 deals. A breakdown indicated that the financial services industry led

For maritime businesses, the stakes are high, and the seas can be unpredictable. Whether you own a shipping fleet, operate a fishing company, or oversee marine logistics, safeguarding your assets with the right marine insurance is prudent. It’s also essential for the sustainability of your enterprise. Here are some tips for how to find the best marine insurance provider. By following these strategic steps, you can ensure your business remains afloat, even in the face of unforeseen challenges. 1. Assess Your Maritime Needs The first crucial step towards securing the ideal marine insurance provider is a comprehensive assessment of your

By Modupe Gbadeyanka Nigeria’s business activity improved in September despite cost pressures limiting demand, according to the latest Purchasing Managers’ Index (PMI) released by Stanbic IBTC Bank Plc. The lender said in the period under review, the private sector had a reading of 51.1 points compared with the 50.2 points achieved in August 2023. It was the rise in business activity in the country was influenced by the growth in order, though the rates of expansion in each were only modest. New orders increased for the sixth month running in September as some firms signalled an improvement in demand. While

By Adedapo Adesanya In the latest drama emanating from his planned takeover of Twitter, the world’s richest man, Mr Elon Musk, has threatened to withdraw his bid to buy the social media company, accusing it of failing to provide data on fake accounts. Twitter has committed “a clear material breach” of its “obligations under the merger agreement and Mr Musk reserves his right not to consummate the transaction,” according to a document filed with securities regulators in the United States yesterday. The filing marks an escalation of Mr Musk’s prior statements that have highlighted fake accounts as a threat to

Governor Babajide Sanwo-Olu of Lagos State on Sunday directed that contractors must begin massive rehabilitation work on critical roads and highways across the state from Monday, October 14, 2019. The Governor, who declared a state of emergency on the various dilapidated highways and carriage roads within the metropolis, said eight engineering firms have been instructed to immediately mobilise to the respective sites and commence major construction work on the identified roads. He gave this directive after series of meetings with the eight multi-national engineering firms and a subsequent directive that work must commence on major highways identified as critical to

By Dipo Olowookere Chief Executive of Stanbic IBTC Insurance Brokers Limited, Mr Anselem Igbo, has expressed worry over the low penetration of insurance in Nigeria, saying this does not augur well for the wellbeing of individuals, businesses and the economy. He therefore urged Nigerians to protect themselves against unforeseen mishaps by investing in insurance products. Speaking recently in his office in Lagos, Mr Igbo said the insurance business is a unique one, which has been set up to help clients effectively manage their risks, including theft, accidents, robbery, injuries, manmade and natural disasters, and even death, thereby ensuring peace of

By Modupe Gbadeyanka The Chairman of Transcorp Plc, Mr Tony Elumelu, has played down talks that he’s threatened by the investment of his close friend, Mr Femi Otedola, in the company. Recall that two weeks ago, it was reported that Mr Otedola had acquired a 5.52 per cent stake in Transcorp to become the largest single individual shareholder of the conglomerate. He is only behind UBA Nominees Limited with a stake of 9.26 per cent. His acquisition of the company’s shares later triggered buying pressure on the stock, stoking speculations that the businessman, who owns Geregu Power, was planning to

The African Union Commission is set to host the Africa Fashion Reception at the AU headquarters in Addis Ababa. The event scheduled for 13th – 15th September, 2016 will be presenting fashion designers from about 30 African countries. Only 1 top designer has been nominated to represent each of the participating countries by the Executive Board of the Africa Fashion Reception. Activities lined up during the AFR in Addis Ababa will include an international press conference 13th, African Fashion Business Summit and Exhibition by participating countries on the 14th and the gala event on the 15th September. The gala night

By Adedapo Adesanya Crude oil prices were mixed on Monday following uncertainty in the market with investors questioning the sustainability of this year’s rally. At the market yesterday, the price of the global crude benchmark, Brent, dropped 0.21 per cent to sell at $64.30 per barrel, while the US benchmark, the West Texas Intermediate (WTI), shed 0.36 per cent to trade at $64.30 per barrel. Market sentiment has also been dampened by extended lockdown measures in Europe, which have cast a shadow of doubt over initial expectations of an expedited recovery in global oil demand. According to media reports, France

By Adedapo Adesanya Russia has become the world’s second-largest oil producer, beating Saudi Arabia after producing more crude oil in June, data from the Joint Organisations Data Initiative (JODI) has shown. The country is only behind the world’s number one producer, the United States, according to the data. Despite output cuts from the Organisation of the Petroleum Exporting Countries (OPEC) and its allies, OPEC+ the country’s crude oil production stood at 8.788 million barrels per day, according to the data released by the JODI database, which collects self-reported figures from 114 countries. By comparison, Saudi Arabia’s production in the same

Portuguese footballer, Cristiano Ronaldo, has been announced as the 2015/16 UEFA Best Player in Europe. The Real Madrid star beat his club team-mate, Gareth Bale, and player from his club’s rival, Atletico Madrid star, Antoine Griezmann, to claim the award. Ronaldo polled 40 votes to clinch the coveted prize, while his closest rival, Griezmann raked 8 votes, and Gareth Bale 7 votes. This is the second time Ronaldo, 31, is picking the award after winning it for the first time in 2014. In his reaction, Ronaldo said, “It is a great honour. My team-mates are the key, they are the