Demand for BUA Foods Keeps Stock Market in Bulls Territory

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 Aduragbemi Omiyale An application and proprietary solution for micro, small and medium-sized enterprises (MSMEs) in Nigeria, known as Aleph Express, has been launched by Aleph Group. A statement from the firm explained that Aleph Express provides a platform for MSMEs to create and maintain a free e-commerce website, create a product catalogue, set local delivery options, manage, record and process orders while gaining meaningful insights to drive growth. The platform also provides one unified inbox that integrates WhatsApp, Messenger, and Instagram, to enable businesses to efficiently engage and sell – all in one place. In addition, Aleph Express provides

By Bliss Okperan Nigeria recorded an improvement in its trade surplus in the third quarter of 2023, according to data released by the National Bureau of Statistics (NBS), which was analysed by Business Post. The agency disclosed that in the period under review, the total value of exports stood at N10.347 trillion, while imports stood at N8.458 trillion, leaving the total value of trades at N18.802 trillion, 60.78 per cent higher than the N6.435 trillion achieved in the second quarter of 2023. Analysis showed that between July and September 2023, the country, which prides itself as the biggest economy in

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 federal government has vehemently kicked against the use of PolyChlorinated Biphenyl (PCBs), popularly known as transformer oil, by food vendors to fry akara (bean cake), plantain chips, chicken and other food items. A consultant to the Federal Ministry of Environment, Mr Babajide Alloy, in an interview with newsmen on the sidelines of a workshop in Calabar, said the federal government will take steps to prosecute any food vendor found guilty of this act. According to him, the consumption of food prepared from the chemical substance will expose the public to cancers of the lungs, heart, kidney

By Dipo Olowookere Online Editor of Punch Newspaper, Mr John Abayomi, has threatened to sue popular Nigerian blogger, Ms Linda Ikeji, over a story published on her blog this week. The famous blogger had claimed that Mr Abayomi, a former Online Editor of Vanguard Newspaper, was the owner of the popular gossip blog, Instablog9ja, which has been a thorn in the flesh of many Nigerian celebrities. But reacting through his counsel, Falana and Falana’s Chambers, the seasoned journalist said there was no iota of truth in Ms Ikeji’s exclusive story. Mr Abayomi said since the story was published on the

By Dipo Olowookere A new association has been launched by past and present Business Editors across the country. The new body is called Association of Business Editors of Nigeria (ABEN) and its Chairman is the former Editor of Vanguard Newspaper, Mr Omo Gabriel. Speaking at the inauguration of ABEN, Mr Gabriel said forming the body was very tough because of different factors including registration of the group with the Corporate Affairs Commission (CAC). Commenting on the economy, the ABEN chief said despite all efforts made by the different political dispensation to resuscitate it, the Nigerian economy has continued to defy

By Adedapo Adesanya Oil prices dropped on Monday after weak economic data from China and expectations of another interest rate hike in the United States. Brent crude fell by $1.02 or 1.3 per cent to settle at $78.45 a barrel, while the US West Texas Intermediate (WTI) crude slid $1.12 or 1.5 per cent to $75.66 per barrel. China, the world’s largest oil importer, saw its manufacturing activity unexpectedly shrank in April. According to official data from the country’s National Bureau of Statistics, the official manufacturing purchasing managers’ index (PMI) declined to 49.2 from 51.9 in March. This is below

By Dipo Olowookere The equities market in Nigeria closed the last trading session for the month of August 2020 on a positive note on Monday, appreciating by 0.07 per cent. Business Post observed that the Nigerian Stock Exchange (NSE) had a last-minute turnaround yesterday after being in the red territory for the most part of the trading session. The market was looking like it would point south on Monday because of the selling pressure on banking stocks, especially the tier-one, but the bargain hunting in energy and industrial goods sectors changed the direction of the pointer. At the close of

By Dipo Olowooere Barely two days after the Federal Road Safety Commission (FRSC) commenced the enforcement of speed limiters on commercial vehicles, about 2800 persons have been charged for violation. This information was disclosed by the Corps Marshal of the FRSC, Mr Boboye Oyeyemi. Mr Oyeyemi explained that those booked for the offence were commercial drivers. According to him, the policy was not meant to inflict pain on motorists and road users, but for their safety. “The exercise is also known as free safety checks. “In the coming days, the leadership of the organised transport unions such as NURTW, NUPENG

By Dipo Olowookere The member of Kaduna State House of Assembly that was abducted by some gunmen at his residence on Tuesday has been released. The lawmaker, Ibrahim Ismail, regained his freedom on Wednesday, the Kaduna State Police Command spokesman, ASP Aliyu Usman, confirmed. He said Mr Ismail was reunited with his family on Wednesday after he was rescued. However, the police mouthpiece in the state did not disclosed if any ransom was paid to secure the release of the legislator. He did not also state if any of the kidnappers was arrested or not. But Mr Usman assured residents

By Ashemiriogwa Emmanuel The Debt Management Office (DMO) has said that it will issue another sovereign Sukuk this year to be used to finance some critical road projects across the country. According to the agency in a statement issued on Tuesday, November 2, 2021, the bond to be sold to interested investors is between N200 billion and N250 billion. The debt office noted that the proposed sale, which is expected before the end of this year, would be the fourth since the Sukuk issuance debuted in September 2017. Already, the DMO has appointed BURAQ Capital Limited as the financial adviser,