FAAC: FG, States, LGs Share N655b December Revenue

By Dipo Olowookere The Nigerian Exchange (NGX) Limited posted a 0.25 per cent growth at the close of trading activities on Friday, influenced by persistent bargain-hunting. Business Post reports that the market breadth index was positive yesterday after 33 stocks closed on the gainers’ chart and 21 equities ended on the losers’ table, indicating a strong investor. Secure Electronic Technology was the best-performing stock for the trading session as its value rose by 10.00 per cent to 55 Kobo, followed by MeCure, which gained 9.90 per cent to close at N9.21, Neimeth appreciated by 9.85 per cent to N2.23, Multiverse

By Dipo Olowookere The positive momentum witnessed at the Nigerian Exchange (NGX) Limited continued on Monday with a 0.17 per cent leap at the close of business. Buying pressure, particularly in a few blue-chip equities, kept the bulls at Customs Street during the trading session, though the consumer goods space succumbed to profit-taking by 0.99 per cent. But hope was kept alive by the gains reported by the other key sectors of the market, with the banking counter growing by 1.71 per cent, and the industrial goods index appreciating by 0.01 per cent, while the insurance and energy sectors remained

By Bliss Okperan, Adedapo Adesanya  The cost of cooking a pot of jollof rice, one of the most consumed foods daily in Nigeria, has surged by 37.4 per cent, according to research carried out by Business Post. Using market data and the most recent food price watch by the National Bureau of Statistics (NBS), major food items in making the delicacy, including rice, groundnut oil, tomatoes, and onions, among others have recorded a massive increase within the past year, making it hard for the average Nigerian to survive. According to NBS, 1 kilogram of Rice cost N757.06 in 2023 as

By Adedapo Adesanya The federal government has set plans in motion to raise $200 million from philanthropic individuals and organisations as part of efforts to create jobs and support Micro, Small, and Medium Enterprises (MSMEs) in Nigeria. Nigeria is home to over 36.9 million MSMEs, comprising 96.7 per cent of all businesses in Nigeria. According to data, 67 per cent of these businesses are youth-owned. MSMEs contribute over 45 per cent to the country’s gross domestic product (GDP), with 98.8 per cent of them in the micro cadre. They account for nearly 90 per cent of the jobs in the

By Adedapo Adesanya The Super Falcons of Nigeria crashed out of the FIFA Women’s World Cup co-hosted by Australia-New Zealand in the second round after losing to reigning European champions, England, in a penalty shootout. Nigeria was the better side in over 120 minutes of play, hitting the bar twice through Ashleigh Plumptre and Uchenna Kanu, while Rachel Daly missed England’s best opportunity, her close-range header drawing a fine save from Chiamaka Nnadozie. Nigeria continued to pressure but could not capitalise on the chances even after England lost a player when Chelsea’s Lauren James received a red card in normal

By Dipo Olowookere Not less than 310 members of the National Youth Service Corps (NYSC) have been engaged by management of Kaduna Electric across its franchise states for the ongoing Project 415 customer enumeration exercise. The exercise which would be carried out in Kaduna, Sokoto, Kebbi and Zamfara States has commenced in earnest in Kaduna metropolis. Kaduna Electric’s Head of Human Resources, Hajiya Khadijah Kabir, said her department specifically made a request for the number of youth corps members to the NYSC state secretariats in its franchise and that Kaduna Electric is glad they accepted the request. “We intend to

By Dipo Olowookere Transactions on the floor of the Nigerian Exchange (NGX) Limited closed bearish on Monday as investors continue to play safe and watch happenings from the sidelines. The selloffs in the banking space continued yesterday, causing its index to marginally reduce by 0.02 per cent at the close of business. The energy sector also went down during the session by 0.35 per cent, affecting the general outcome of the market. The two sectors outweighed the gains printed by the other three key sectors of the exchange as the insurance counter rose by 0.22 per cent, the industrial goods

By Edwin Uhara I read the fake news article against the Minister of Interior, retired Lieutenant General Abdulrahman Dambazau by one Fidelis Nwangwu; a notorious hireling who specializes in spewing trash in the name of article writing. Honesty speaking, Mr Nwangwu is a less-endowed hireling who in his desperate bid to satisfy the interest of his paymasters always concoct lies, false narratives, unverified claims and non-existing tales and push them out as news articles. Regrettably, one of the distasteful things that have happened to the cherished field of journalism is the entrance of fake news material in to the media

By Adedapo Adesanya Monday at the parallel segment of the foreign exchange (forex) market closed with no changes to the Naira as it traded at a fixed N360 per Dollar at the end of trading window last week Friday. However, it was a different story for the Naira against the British Pound and the Euro on the same segment of the market as the local currency appreciated against both foreign currencies. The Naira gained N3 against the Pound to trade at N458 yesterday against the previous closing price of N461 on Friday. Against the Euro, the local currency gained N2

By Dipo Olowookere The presidential candidate of the Labour Party (LP), Mr Peter Obi, has assured Nigerians, especially the youths, that he would prove in court that he won the presidential election held last Saturday. Speaking on Thursday at a press briefing in Abuja, the former Governor of Anambra State said he would adhere to the advice of the Independent National Electoral Commission (INEC) that all aggrieved contestants should seek redress in court. According to him, he would challenge the process for the future of the country, stressing that the electoral body did not follow the guidelines it set for

As Africa gears up for Africa Day, an event that marks the founding of the African Union and celebrates the continent’s quest for unity, Google is unveiling a range of programs and activities to celebrate Africa’s diverse cultural heritage and provide opportunities for people all over the world to experience and engage with the creativity and richness of Africa. Among the programs is the addition of six new pocket galleries on Google Arts & Culture, curated by esteemed partners from Kenya, Nigeria and South Africa, these pocket galleries offer an immersive experience of virtual exhibitions, providing a 360-degree view of

By Adedapo Adesanya Germany has signed an agreement to return the Benin artefacts currently in its possession to Nigeria. The Foundation of Prussian Cultural Heritage (known in German as Stiftung Preußischer Kulturbesitz; SPK) and Nigeria’s National Commission for Museums and Monuments (NCMM) signed the agreement on Thursday. In a statement, SPK explained that the Benin bronzes, which number about 512, now officially belong to Nigeria following the transfer agreement. The statement, however, noted that not all of the artefacts will be returned to Nigeria this year. “About a third of the transferred objects will remain on loan in Berlin for