Edo to Commence Planting on Sobe Maize Farm Next Week

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 The Nigerian Shippers’ Council (NSC) has expressed its readiness to partner with the Lekki Deep Seaport by promoting the seamless movement of cargo and the efficiency of the nation’s ports. The NSC Executive Secretary, Mr Pius Akutah, gave the assurance when the Managing Director, Lekki Port LFTZ Enterprise Limited (LPLEL) – promoters of Lekki Deep Seaport, Mr Du Ruogang, led the port’s management on a courtesy visit to the NSC in Lagos. Mr Akutah, who commended the Lekki Deep Seaport management for the visit, said the council would partner with the port in areas that would boost

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 Aduragbemi Omiyale The Divisional Head of Capital Markets at the Nigerian Exchange (NGX) Limited, Mr Jude Chiemeka, has been appointed to the board of the organisation as an executive director. The appointment followed the reorganisation of the subsidiaries of the NGX Group Plc, influenced by the retirement of some board members. Business Post gathered that Mr Abubakar Mahmoud has retired as the chairman of NGX Limited, prompting the appointment of Ahonsi Unuigbe as his replacement. Also, Mrs Angela Adebayo, Mr Kamarudeen Oladosu, Mr Yomi Adeyemi, and Mr Seyi Osunkeye have retired from the board as non-executive directors and have

By Chubi Eze In a surprise move, Nigeria’s President, Mr Muhammadu Buhari, has announced that he will attend a meeting to be convened today, Thursday, June 25, 2020, by Mr Victor Giadom, one of the two men laying claim to the leadership of the All Progressives’ Congress (APC), which controls the presidency and both houses of parliament. In a series of Tweets, the president’s spokesperson, Mr Garba Shehu, said that: “The president has received very convincing advice on the position of the law as far as the situation in the party is concerned and has determined that the law is

By Aduragbemi Omiyale The Central Bank of Nigeria (CBN) has stressed that it has no plan to increase the single value of the Naira notes to N2,000, N5,000 or N10,000, as being speculated in some quarters. The Director of Currency Operations at the CBN, Mr Ahmed Bello-Umar, speaking in an interview with the Voice of America (VOA) Hausa Service on Monday, said, for now, the highest single value of banknotes remains N1,000. There had been rumours that the central bank was planning to introduce higher notes into circulation. These speculations became rife after the bank said it would introduce the

By Adedapo Adesanya  Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against President Muhammadu Buhari and the National Broadcasting Commission (NBC). The organisation explained that the suit was for “the arbitrary use of the NBC Act and broadcasting code to sanction and threaten to revoke the licences of broadcast stations in the country and shut them down over their legitimate coverage of the 2023 general elections.” Joined in the suit as the defendant is the Minister of Information and Culture, Mr Lai Mohammed. The NBC had last week reportedly sanctioned 25 broadcast stations and issued ‘final warnings’ to

By Modupe Gbadeyanka Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has disclosed that inflation rate in the country is expected to fall to a single digit, most likely 9 percent, by the middle of 2018. According to data released by the National Bureau of Statistics (NBS) this month, inflation in Nigeria dropped to 15.98 percent in September 2017 from 16.01 percent in August 2017. It was the eighth consecutive decline in the rate of headline year-on-year inflation since January 2017. The inflation was almost climbing to 20 percent before the steady decline since the beginning of this

By Modupe Gbadeyanka The Nigerian Stock Exchange (NSE) on Wednesday recorded a significant improvement after advancing by 2.95 percent at the close of trading activities, Business Post reports. The market capitalisation experienced a growth of N273.3 billion to close at N9.522 trillion, while the All-Share Index (ASI) progressed by 790.47 points to end at 27,546.68 points. The market breadth finished positive with 50 advancers and 8 decliners, while the year-to-date return closed at 2.50 percent, leaving the negative zone for the first time in a while. The volume of shares transacted on the floor of the NSE today ended higher

By Dipo Olowookere The constituency office of the member representing Ibadan North-East/South-East Federal Constituency, Mr Adedapo Lam Adesina, has been destroyed by thugs suspected to be loyal to a major political party in the state. The suspected thugs swooped on the constituency office, located at Ile-Titun area of Ibadan South-East, using the cover of the night and properties worth hundreds of thousands destroyed or stolen. Mr Lam Adesina, who was an arrowhead in the struggle for justice and fairness had been under threat of attacks for some time, is a candidate of the African Democratic Congress (ADC) for the House

By Modupe Gbadeyanka A fresh capital worth about N1.2 billion has been injected into Golden Guinea Breweries Plc, a company based in Umuahia in Abia State. The money was pumped into the brewery firm by a businessman, Mr Okey Nzenwa, through his company, Pan Marine Investment Limited. Mr Nzenwa is the Chairman of Pan Marine Investment Limited, the core investor of Golden Guinea Breweries, a company which trades its shares on the Nigerian Stock Exchange (NSE). Business Post gathered that the lawyer-cum-businessman increased his stake in the organisation by acquiring additional 752,508,000 stocks through a private placement. It was learned