DPR Seals Seven Illegal LPG Retail Outlets in Rivers

By Dipo Olowookere The trio of Universal Insurance, Oando and UBA were the busiest stocks on the floor of the Nigerian Exchange (NGX) Limited last week, trading 2.212 billion units valued at N8.907 billion in 7,593 deals, contributing 56.56 per cent and 29.32 per cent to the total trading volume and value, respectively. In the week, investors transacted 3.911 billion shares worth N30.379 billion in 38,536 deals versus the 2.933 billion shares worth N47.449 billion exchanged in 44,654 deals in the preceding week. Financial stocks dominated with 2.774 billion units valued at N15.241 billion in 16,379 deals, contributing 70.92 per

By Adedapo Adesanya The new leadership of the Central Bank of Nigeria (CBN) signalled no confidence to traders and investors as the Naira was further dealt a heavy blow at the Investors and Exporters (I&E) and the Peer-to-Peer (P2P) arms of the foreign exchange (FX) market on Monday, September 25, though it maintained stability against the United States Dollar in the parallel market. In the official market, the Naira lost 3.41 per cent or N25.49 against the greenback to finish at N773.25/$1 compared with last Friday’s closing rate of N747.76/$1, as the value of forex transactions went down by 58.3

By Bliss Okperan Nigeria’s internet speed averages 25 megabits per second (Mbps), according to data from Surf Shark, a cybersecurity company focused on developing humanised privacy and security solutions. The ranking, contained in the 5th annual (Digital Quality of Life Index (DQL), showed that the country dropped two places to 7th from 9th within the last two years. A quick average analysis shows that at an average of 25 Mbps, Nigeria is far from the world’s fastest fixed internet Singapore, which is 300 Mbps and is ahead compared to the slowest fixed internet in the world, Yemen, which is 11

By Adedapo Adesanya The Nigerian government is targeting an estimated $55.2 billion in oil and gas investments by 2030, according to the Special Adviser to the President Bola Tinubu on Energy, Mrs Olu Verheijen. She said the government has wrapped up a series of strategic engagements with 15 leading international and independent oil and gas companies operating in Nigeria. The President’s aide recently organised sessions in Lagos and Abuja in partnership with the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to review ways to improve the sector and address the nation’s revenue emergency whilst contributing to stabilising Nigeria’s economy. Involved in

By Adedapo Adesanya Access Bank Plc has become the latest company to sell its securities on the NASD Over-the-Counter (OTC) Securities Exchange. This happened after it completed its transition into a holding company and delisted its entire shares from the daily official list of the Nigerian Exchange (NGX) Limited, relisting under a new parent company to be known as Access Holdings Plc. In a notice sent to the NASD OTC Exchange on Monday, it was confirmed that the lender, following its delisting, will have its entire share capital admitted through an Admission of Company. This means its entire 35.5 billion

By Dipo Olowookere The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has announced the retention of the benchmark interest rate at 13.50 percent. This was made known on Tuesday by Governor of the CBN, Mr Godwin Emefiele, who chairs the committee. While addressing the media on outcome of the two-day meeting held in Abuja, the CBN chief said members agreed to keep that Monetary Policy Rate (MPR) at the previous level of 13.50 percent due to present key economic indicators. He said at the end of deliberations, members said there should be asymmetric corridor of +200/-500

By Adedapo Adesanya The Naira witnessed a fall in its value against the American Dollar at the Investors & Exporters (I&E) window of the foreign exchange on Tuesday, March 16. Data obtained by Business Post showed that the local currency, which traded at N408.90/$1 at the opening session of the week, closed at N409.75/$1 yesterday after it shed 85 kobo or 0.21 per cent. The depreciation in the value of the domestic currency occurred during the session despite not being under a huge demand pressure. According to details of the day’s transactions, the turnover recorded yesterday reduced by 36.2 per

By Adedapo Adesanya Crude oil pointed south on Tuesday as shaky global demand recovery took away the spotlight from a number of supportive developments such as the seizure of an oil tanker in Indonesia, the closure of one of Libya’s main export ports and even an explosion in Saudi Arabia. These activities could not help prices as the Brent crude lost 4 cents or 0.07 per cent to sell at $55.84 per barrel, while the United States’ West Texas Intermediate (WTI) chipped off 24 cents or 0.45 per cent to trade at $52.53 per barrel. Demand uncertainty caused by large

By Adedapo Adesanya President Bola Tinubu has inaugurated the National Economic Council (NEC) with a promise to sustain the rejuvenation of the nation’s economy. Membership of the NEC comprises the 36 State Governors, the Governor of the Central Bank of Nigeria (CBN) and other co-opted government officials. Those in attendance at the time the meeting commenced were Governor Abdulrahman Abdulrazaq of Kwara State, Governor Ademola Adeleke of Osun State, Governor Yahaya Bello of Kogi State, Governor Biodun Oyebanji of Ekiti State, Governor Abdullahi Sule of Nasarawa, Governor Umo Eno of Akwa Ibom State, Governor Peter Mbah of Enugu State, Governor

By Paul Boroh As an officer in the Army, I took to farming believing that is the future of the country and that on a personal level, I could better sustain my family. Our lands are so fertile that I did not need much fertilizer; the inputs were minimal and the yields were much. Our climate, by God’s grace is predictable; it rains when it should rain and the sun shines when it should; so why not take advantage of what nature has freely given us as Nigerians. When in July 2015, His Excellency, President Muhammadu Buhari appointed me Special

By Modupe Gbadeyanka Federal Government has launched three policy documents to improve newborn health in Nigeria. Minister of Health, Prof. Isaac Adewole launched the documents recently at a press briefing to commemorate 2016 World Prematurity Day and World Pneumonia Day in Abuja. The launched documents were: Nigeria Every Newborn Action Plan, Essential Newborn Care Training Package and National Chlorhexidine Scale Up Strategy document. Mr Adewole explained that the first document, the Nigerian Every Newborn Action Plan highlights government’s commitment to end preventable newborn deaths and stillbirths by the year 2030, while the second document, Essential Newborn Care Course (ENCC) training