Domestic Investors Can Purchase Nigeria’s $3bn Eurobond—DMO

By Aduragbemi Omiyale President Bola Tinubu has said the 2024 budget presented to the joint session of the National Assembly on Wednesday was designed to achieve macroeconomic stability, a better investment environment, greater access to social security, poverty reduction and enhanced human capital development. According to him, if these goals are achieved, the standard of living of Nigerians will improve and the citizens will enjoy the dividends of democracy. While presenting the 2024 Appropriation Bills to the parliament yesterday, the President said this was why he christened the budget proposal as the Budget of Renewed Hope. Mr Tinubu told the

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 Adedapo Adesanya Nigeria will accept and work with a production quota of 1.5 million barrels of crude oil per day in 2024 as the country aims to grow on the back of its oil resources, following a revision done by the Organisation of the Petroleum Exporting Countries and its allies, OPEC+. According to a statement issued by the Press and Public Relations unit of the Ministry of Petroleum Resources, Thursday’s meeting of the 23-man group addressed crucial aspects, including the completion of assessments by independent sources (IHS, Wood Mackenzie, and Rystad Energy) on the projected production levels for Angola,

By Adedapo Adesanya  Oil prices rose by more than $1 a barrel on Wednesday as investors focused their attention on an upcoming OPEC+ output policy meeting and looked past a jump in crude stockpiles in the United States. Brent crude futures were up by $1.01 or 1.2 per cent to $82.69 per barrel, and the US West Texas Intermediate (WTI) crude futures gained $1.16 or 1.5 per cent to close at $77.57 a barrel. Prices were lifted by a media report that the Organisation of the Petroleum Exporting Countries and allies such as Russia, known collectively as OPEC+, was considering

**Deepens Responsible Drinking Campaign By Dipo Olowookere Leading manufacturer and Nigeria’s only total beverage alcohol (TBA) company, Guinness Nigeria Plc, has revved up its commitment to driving responsible drinking behaviour among Nigerian consumers by partnering with the National Youth Service Corps (NYSC) to deliver its innovative and trailblazing DRINKiQ training sessions to officials and corps members in a bid to take the responsible drinking message to every nook and cranny of the country. At the signing of the Memorandum of Understanding between Guinness Nigeria and the NYSC which took place at the Gowon House, National Directorate Headquarters, NYSC in Abuja,

By Aduragbemi Omiyale The Secretary to the Government of the Federation (SGF), Mr Boss Mustapha, has been appointed by President Muhammadu Buhari as the chairman of the Presidential Transition Council. A statement signed by the Director of Information, Mr Willie Bassey, for the SGF on Thursday disclosed that the team would be inaugurated next Tuesday. “The Transition Council will be inaugurated by the Secretary to the Government of the Federation on Tuesday, February 14, 2023, at 12 noon at the Conference Hall of the SGF,” a part of the statement said. It was further stated that the council would be

By Dipo Olowookere President Muhammadu Buhari on Tuesday confirmed that the land borders closed for more than one year would be reopened anytime soon. Mr Buhari made this confirmation when he gave an update on the meeting he had with Governors of the 36 states of the federation in Abuja. He said Nigeria’s porous land borders were shut in August 2019 because of the incessant smuggling of arms and drugs into the country as well as contrabands. According to him, the country’s neighbours, who had pushed for the reopening of the borders because the action was hurting their economies, have

By Modupe Gbadeyanka President Bola Tinubu has announced some initiatives he intends to use to bring down the rising prices of food in the country, declaring a state of emergency in food security. Addressing newsmen in Abuja on Thursday, the Special Adviser to the President on Special Duties, Communications and Strategy, Mr Dele Alake, said his boss wants to ensure citizens never go to bed hungry again. He said his government would invest in agriculture and provide security for farmers to enable them to work on their farms without fear. “As a direct and immediate response to this crisis, a

By Modupe Gbadeyanka The partnership of Bauchi State government has been sought by the Chinese government for a possible investment in Nigeria worth $30 billion. The Chinese government, through its China-Africa International Economic Cooperation Committee, recently visited the Bauchi State Governor, Mr Mohammed Abubakar, at the Government House, for his support. The China-Africa International Economic Cooperation Committee was established by the Chinese Government with the sole purpose of seeking investment in Africa. During the visit, leader of the delegation in Nigeria, Captain Muhammad Joji, highlighted that the committee is aimed at encouraging private entrepreneurs and were willing to invest $30

By Ashemiriogwa Emmanuel No fewer than four Nigerians have been sponsored by the United States Government to participate in the advanced Public Health Emergency Management (PHEM) Fellowship program. The two-week advanced PHEM program is focused on core principles of an Incident Management System (IMS) as an efficient coordination mechanism for responding to small disease outbreaks. The training, which will take place at the Centre for Disease Control (CDC) headquarters in Atlanta, Georgia, also covers more significant public health emergencies such as the ongoing COVID-19 pandemic. The sponsorship was disclosed by the United States Consul General, Mrs Claire Pierengelo, during the

By Dipo Olowookere Bargain hunting by investors left trading activities on the floor of the Nigerian Stock Exchange (NSE) in the green zone on Friday. The Nigerian stock market, when transactions were brought to an end today, finished 0.74 percent higher, expanding the year-to-date return to 11.32 percent, while the market breadth closed positive with 26 price gainers and nine price losers. Business Post reports that Nigerian Breweries led the gainers’ chart today with an appreciation of N7.10k to close at N130 per share. CAP Plc followed with N3 growth to end at N38 per share, and International Breweries, which

By Rashi Gupta The success of mobile money in Africa is well known. If you’ve paid any attention to the continent’s financial and technology spaces over the past decade or so, you probably won’t be surprised to learn that it accounts for around 70% of the world’s $1 trillion mobile money value. You’d probably also be unsurprised to learn that in Kenya, the country that effectively kick-started Africa’s mobile money revolution, mobile money transactions now account for 56.8% of GDP. What you might not know is that mobile money has long played (and continues to play) an important role in