FG Optimising Aquaculture for Economic Wealth, Job Creation—Lokpobiri

By Adedapo Adesanya The Naira put up a weak performance against the United States Dollar across the various segments of the foreign exchange (FX) market on Thursday. November 30, 2023, the last trading session of the month. In the Nigerian Autonomous Foreign Exchange Market (NAFEM) window, which is the official market, the Nigerian currency lost 0.1 per cent or 85 Kobo against the greenback during the session to settle at N832.32/$1 compared with the preceding day’s value of N831.47/$1. A slight strain in the supply of forex into the spot market was partly responsible for the weakening of the local

By Dipo Olowookere The Nigerian Exchange (NGX) Limited commenced the first trading session in December 2023 on a bullish note, with a marginal growth of 0.08 per cent. Sustained buying pressure kept Nigerian stocks in the positive territory, extending the dominance of the bulls on Customs Street, though the turnover waned. Business Post observed that investors cherry-picked equities in the banking and the energy sectors during the session, leaving them rising by 1.14 per cent and 0.05 per cent, respectively. However, the insurance counter lost 1.10 per cent, the consumer goods index depreciated by 0.08 per cent, and the industrial

By Adedapo Adesanya The trio of Newrest Asl Plc, FrieslandCampina Wamco Nigeria Plc, and Acorn Petroleum Plc made the NASD Over-the-Counter (OTC) Securities Exchange appreciate by 0.14 per cent on Friday, December 1. The three gainers pressed down the 8 Kobo loss reported by UBN Property Plc, which closed the trading session at N1.52 per unit compared with the preceding day’s value of N1.60 per unit. During the trading day, Newrest Plc gained N1.46 to close at N16.10 per share compared with Thursday’s closing price of N14.64 per share, FrieslandCampina Wamco Plc moved up by 60 Kobo to end the

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

By Dipo Olowookere German-based multinational, Bosch Group, is set to bring the Bosch Power Box (BPB) concept to African artisans, the informal sector, often the driving force of African economies. This is a revolutionary initiative designed to create, up-skill and grow small businesses and bring them into the formal, mainstream economy. It is a long-term project designed to foster entrepreneurship and ensure a smooth transition for small businesses from the informal to formal sectors. Each BPB has managers, technical staff and trainers, all of whom have received dedicated training from Bosch. In essence, Nigerian artisans will now be able to

By Adedapo Adesanya The Rivers State Command of the Federal Road Safety Corps (FRSC) has promised to collaborate with ‘Save a Life Foundation’ towards ensuring mental and overall wellbeing for drivers to curtail road accidents related deaths. At a health enlightenment lecture organised by the foundation for members of staff of the command on Sunday in Port Harcourt, the Sector Commander, Mr Salisu Galadunchi, applauded the group for its contributions toward promoting good health, adding that the message of health would be appropriately channelled to appropriate authorities. He added that the message on health as propagated by the foundation was

By Adedapo Adesanya President Muhammadu Buhari has appealed to foreign investors to explore vast opportunities for human and natural resources in Nigeria, assuring them that his administration was working towards creating fiscal policies that would be more favourable to their businesses. According to a statement from the Senior Special Assistant (SSA) to the President on Media and Publicity, Mr Garba Shehu, President Buhari gave the assurance at meetings he held with a group of investors in France on Wednesday led by the Chairman/Chief Executive Officer of Total, Mr Patrick Pouyanne, Executive Vice President, AirBus, Mr Silvere Delaunay, Chairman of the

By Nojeem Adetuberu There is an urgent need to examine the activities of certain Non-Governmental Organisations (NGOs), considering the abundant declarations they make and the demands placed on corporate organisations and the government recently. These NGOs claim to thrive on protecting human rights but in actual sense the rights of every individual is not represented in their drive for relevance. Notably, their drive for safer environments in Nigeria is lopsided. Rather than striving to ensure the rights of all individuals, civil society organizations, often, promote their own interest, misinform the Nigerian populace and gratuitously lobby for the enactment of unenforceable

By Adedapo Adesanya SeamlessHR, a startup that builds world-class cloud solutions to help organisations manage most HR processes on one platform, has raised $10 million in its Series A funding round which will see it expand to new frontiers in Southern and East Africa. This funding round was led by TLcom Capital, with significant contributions from Capria Ventures, Lateral Capital, Enza Capital, Ingressive Capital, and some private investors. The new fund is coming just about a year after announcing a seed round. The fresh capital is expected to further strengthen the company’s position as Africa’s leading cloud HR and payroll

By Modupe Gbadeyanka The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has declared that the bank would limit the amount of cash in circulation, noting that the bank will intensify its cashless policy and ensure that stringent procedures are put in place to discourage cash withdrawals at over-the-counter. According to him, for large withdrawals, customers would have to fill out several forms, which would be aimed at collecting data concerning the use of the funds. Speaking after President Muhammadu Buhari unveiled the newly designed Naira notes of the N200, N500, and N1,000 denominations in Abuja, the

By Adedapo Adesanya Media, business, government, technology, and community leaders from across Africa and the globe are in Cape Town, South Africa for this year’s annual Africa Business Media Innovators (ABMI) forum. They are in the country for the 2023 Bloomberg Foru, which started on Tuesday, October 31, and will end on Wednesday, November 1, to explore innovative approaches to fostering a vibrant media sector in Africa. The event is co-hosted by the chief executive of Bloomberg Media, Mr M. Scott Havens, the Editor-in-Chief Emeritus of Bloomberg News, Mr Matthew Winkler, and the Corporate Philanthropy for the Middle East and

By Modupe Gbadeyanka The federal government has carried out its threats of imposing a fine on one of the television stations which aired a documentary exposing the roots of banditry in Nigeria. Trust TV, the television of a popular national newspaper platform, Daily Trust, had in March 2022 broadcast a documentary titled Nigeria’s Banditry: The Inside Story. The Minister of Information and Culture, Mr Lai Mohammed, a few days ago, after a foreign media platform, BBC, aired a similar documentary, fumed that actions would be taken over the broadcasts. He said it was wrong for the stations to show the