Domestic Equities Close 0.19% Higher as Bullish Sentiment Persists

By Dipo Olowookere The International Monetary Fund (IMF) has said Nigeria’s revenue–to-gross domestic product (GDP) ratio of about 9 per cent was too low to trigger the economic growth projected by President Bola Tinubu in his Renewed Hope Agenda. Addressing journalists at its last press briefing for 2023 on Thursday, the global lender said the administration of Mr Tinubu must boost the government’s revenue to have funds to achieve his goals. On May 29, 2023, Mr Tinubu took over from Mr Muhammadu Buhari, promising to jump-start the economy and work tirelessly to address food security, end hunger, eradicate poverty, create

By Adedapo Adesanya Crude oil prices rose more than 2 per cent on Friday after data from the world’s largest oil producer, the United States, supported expectations of demand growth. Brent crude futures settled at $75.84 a barrel after chalking up $1.79 or 2.4 per cent, as the US West Texas Intermediate (WTI) crude futures traded at $71.23 after gaining $1.89 or 2.7 per cent. Despite the gain at the final session of the week, both benchmarks fell for a seventh straight week, their longest streak of weekly declines in half a decade, on lingering oversupply concerns. For the week,

By Precious Olisa The Lagos Chamber of Commerce and Industry (LCCI) and the Nigeria Employers’ Consultative Association (NECA) have expressed their disappointment over the increasing exit of multinationals from the Nigerian market. The two organisations reacted to the planned exit of Procter & Gamble (P&G) from the country over economic headwinds. P&G announced its intention to close down its manufacturing operations in Nigeria and adopt an import-only business model due to the foreign exchange (FX) crisis in the country. This is coming some weeks after GlaxoSmithKline (GSK), Sanofi, Unilever Nigeria, Equinor and others have also indicated their interest in quitting

By Adedapo Adesanya The Socio-Economic Rights and Accountability Project (SERAP) has urged the Nigerian National Petroleum Company (NNPC) Limited to disclose Nigeria’s daily oil production and exports as well as the total amounts of revenue generated from oil since the removal of subsidy on petrol in mid-2023. In a letter dated December 9, 2023, the group asked the chief executive of the NNPC, Mr Mele Kyari, “to disclose how much of the revenues generated from oil have been remitted to the public treasury since the removal of subsidy on petrol.” He was also requested “to disclose details of payment of

By Modupe Gbadeyanka It is another new trading week and investors are getting ready to pick which of the stocks available to buy, sell or hold. This is where those at Meristem Research come handy as they give insight into which equities to pick and expect yield in the short-term. Five main stocks have been pencilled down for consideration, while others have also made their watch list. They believe investors who buy Dangote Cement at its present price of N189 could have the opportunity to sell later at N232.11k per unit, giving them a yield of 22.81 percent. Another stock

By Dipo Olowookere The United Nations Special Rapporteur on human rights and the environment, Mr John H. Knox, will undertake his first official visit to Madagascar from 25 to 31 October 2016 to assess how the country is protecting and promoting human rights relating to environmental protection. “A healthy environment is essential for the enjoyment of human rights everywhere, but it is of the utmost importance for the protection of human rights in Madagascar, where so much of the population is rural and depends directly on the environment,” the expert stressed. “I am looking forward to the visit to Madagascar

Most times, the hardest thing about saving money is starting out; settling on a plan, or plans, that encourages discipline and is financially rewarding often proves difficult. It can be difficult to figure out simple ways to save money and how to use your savings to pursue your financial goals. A recent survey on saving carried out by ALAT, the first fully digital bank in Nigeria, showed that the greatest drawback to effective saving isn’t insufficient income but that many don’t know how to save while others lacked discipline. There are several ways to learn how to save but one

By Kemi Ashefon Since Blogger Linda Ikeji has decided to go public with her purported affair with businessman, Solaye Jeremi, its obvious she has set the ball rolling. Indeed, Linda, who bought a Bentley Mulsanne to celebrate her son’s arrival, confessed that she had to tell her story despite that family and friends advised her to the contrary. With a confirmation on Friday morning that oil and gas billionaire, Sholaye Jeremi, is the father of her new baby, while addressing other issues surrounding their purported affair, Sholaye’s friends have decided to unveil what actually transpired between Linda and their friends.

By Ebitonye Akpodigha President Muhammadu Buhari has ordered that a prompt and appropriate disciplinary action be taken against those responsible for a wrongful insertion in his speech delivered on September 8, 2016 at the launch of the ‘Change Begins with Me’ campaign in Abuja. It was observed that the similarities between a paragraph in President Obama’s 2008 Victory Speech and what President Buhari read in paragraph nine of the sixteen-paragraph address while inaugurating the Campaign on Thursday, September 8, 2016 are too close to be passed as coincidence. A statement issued one of the media aides to the President, Mr

By Modupe Gbadeyanka Innovative consumer finance company, Zedvance Ltd, has flagged off its Back-to-School campaign to provide easy access to quick and collateral-free credit to all parents and guardians in Nigeria.  According to the company, the campaign themed, “Zedvance Back-to-School Unburden”, is designed to promote inclusive education by reducing the financial impact of a new academic term on Nigerians. Marketing Manager of Zedvance, Mr Lukmon Oloyede, while commenting on the initiative, stated that, “As a customer-centric company, Zedvance is committed to providing lifestyle-enabling financial solutions to our customers and prospects across Nigeria through a flexible and hassle-free process.” He added

By Nneka Okumazie Many people like to pick verses from the scriptures to argue against obedience or discredit Christianity. They often discuss Apostle Paul saying women should not speak in church. Extensively, what Apostle Paul said meant responsibility. Anyone who must speak in church must also be responsible about the word of God. [2 Timothy 2:19, Nevertheless the foundation of God standeth sure, having this seal, the Lord knoweth them that are His. And, let everyone that nameth the name of Christ depart from iniquity.] In the chapter following where he discussed women, he gave instructions to bishops. [1 Timothy

By Adedapo Adesanya Apple has collaborated with Goldman Sachs to offer new savings account for Apple Card owners. This card, styled as Daily Cash, will allow users to save money and grow rewards in a high-yield savings account. In a press release, the company said Apple Card users would soon be able to open the new high-yield savings account and have their Daily Cash automatically deposited into it — with no fees, minimum deposits, and minimum balance requirements. The Vice President of Apple Pay and Apple Wallet, Ms Jennifer Bailey, said users could spend, send, and save Daily Cash directly