European Stock Markets Rebound after Euro, Pound Fall

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 Modupe Gbadeyanka The chairman of the Federal Inland Revenue Service (FIRS), Mr Zacch Adedeji, has asked his counterpart in the Economic and Financial Crimes Commission (EFCC), Mr Ola Olukoyede, to support his agency to achieve the Renewed Hope Agenda of President Bola Tinubu, who appointed both of them. Speaking during a courtesy visit to the headquarters of the anti-money laundering firm, Mr Adedeji said the EFCC has a role in ensuring that taxpayers’ funds are “judiciously utilised in line with the social contract with the people.” He assured that the FIRS would continue to strive to raise the revenue

In furtherance of my sacred duties and obligations as President of the Federal Republic of Nigeria, it is my honour to be here today to present my administration’s 2024 Budget Proposal to this Joint Session of the 10th National Assembly. This moment is especially profound and significant to me because it is my first annual budgetary presentation to the National Assembly. Distinguished Senators and Honourable Members of the National Assembly, I commend your swift consideration and passage of the 2023 Supplementary Appropriation Bills and the 2024-2026 Medium Term Expenditure Framework and Fiscal Strategy Paper. Your prompt action underscores your devotion

By Modupe Gbadeyanka New York-based broker-dealer, Marco Polo Securities, has announced that Coronation Securities Limited (COSEC), a major Nigerian financial institution, is expanding its access to US investors via the Marco Polo regulatory platform. Marco Polo has relationships with dozens of securities firms throughout Europe, APAC, Africa and the Americas, and enables clients to market their local capabilities and products to international investors. In turn, the solution gives investors access to local exchange-listed securities as well as locally originated private placement and M&A investment opportunities. Head of Coronation Securities, Uwana Ekpat, stated that, “Coronation Securities values adherence to regulatory requirements

By Adedapo Adesanya NASD Plc dragged the NASD Over-the-Course (OTC) Securities Exchange down by 0.06 per cent on Friday, February 11 after its value declined by 93 kobo or 11.0 per cent to trade at N8.43 per unit compared with the previous trading value of N9.36 per unit. As a result of this, the NASD unlisted securities index (NSI) depleted by 0.48 points to 751.43 points from 751.91 points, while the market capitalisation dwindled by N410 million billion to wrap the day at N636.29 billion from N636.7 billion. Business Post reports that the session saw a price gainer and this

By Dipo Olowookere Managing Partner of Startup Istanbul, Ms Elif Coşkunkan, has announced the selection of Nigeria’s digital publishing startup, Publiseer, for this year’s Startup Istanbul Challenge 2018 taking place in Tukey from October 19-22. Startup Istanbul is the leading startup event that brings together founders, investors and executives in the region. It’s a gathering of the leading startups, internet companies, business angels and venture capitalists from Europe, Africa and Asia. Startup Istanbul is organized by Etohum, the leading startup accelerator and seed investor in Turkey. The past winner of Startup Istanbul, Tespack, closed a €2 million invested led by

By Modupe Gbadeyanka Governor Douye Diri of Bayelsa State has declared that only farmers in the state, irrespective of political party affiliation, will benefit from the loan facility created for the state by the Central Bank of Nigeria (CBN). In a press statement issued by his acting Chief Press Secretary, Mr Daniel Alabrah, the Governor warned the political class to steer clear of the CBN loan, vowing not to play politics with it. However, he emphasised that politicians who own farms in the state can apply for the credit facility, stressing that stringent measures would be put in place to

By Modupe Gbadeyanka A turnover of 2.847 billion shares worth N7.420 billion in 16,065 deals were traded last week by investors on the floor of the Nigerian Stock Exchange (NSE) in contrast to a total of 873.838 million shares valued at N8.024 billion that exchanged hands the previous week in 15,944 deals. The Financial Services Industry, measured by volume, led the activity chart with 2.632 billion shares valued at N4.935 billion traded in 10,882 deals; thus contributing 92.48% and 66.51% to the total equity turnover volume and value respectively. The ICT Industry followed with 105.401 million shares worth N52.702 million

By Adedapo Adesanya Despite Nigeria’s infrastructural challenges to meet peak oil production, the Minister of State for Petroleum Resources, Mr Timipre Sylva, has said the country has the capacity to meet the 3 million barrels per day quota expected of the country by the Organisation of Petroleum Exporting Countries (OPEC). Mr Sylva said though the country currently produced about 1.3 million barrels per day, concerted efforts were being made to increase production to meet the OPEC quota. The junior oil minister said this at the 2021 graduation ceremony of Petroleum Training Institute (PTI) held recently in Effurun, Delta State. The

By Jumia Food One of the biggest challenges facing the world today is global hunger. The United Nations World Food Programme (WFP) backs this up by stating that “From Africa and Asia to Latin America and the Near East, there are 821 million people in the world who do not get enough food to lead a normal, active life.”  In fact, a 2019 report by the WFP confirms a rise in world hunger for the third year in a row. “There were 821 million chronically undernourished people in the world last year, up from 811 the previous year. 1 in