FG Plans Lucrative Business Employment in Agriculture

By Dipo Olowookere Shares of MeCure Industries appreciated by 60.73 per cent last week on the floor of the Nigerian Exchange (NGX) Limited as investors began to see value in the company. Business Post reports that in the week, the price of the stock closed at N9.21 per unit compared with the preceding week’s N5.73 per unit, leading the gainers’ chart of 59 members, higher than 54 of the preceding week. On its part, Multiverse rose by 60.06 per cent to N5.81, Unity Bank improved by 57.26 per cent to N1.84, Secure Electronic Technology jumped by 52.78 per cent to

By Adedapo Adesanya  President Bola Tinubu has written to the House of Representatives seeking the approval for an $8.6 billion and €100 million external borrowing plan for critical infrastructure in areas such as power, roads, water, railway, and health. The President also forwarded the Federal Capital Territory (FCT) Supplementary Budget to the lower chamber for consideration. Meanwhile, the President will present the 2024 budget to the National Assembly on Wednesday. This was after the Federal Executive Council (FEC) approved a 2024 budget of N27.5 trillion. The approval followed the review of the Medium-Term Expenditure Framework (MTEF) earlier passed by the

By Adedapo Adesanya The Naira appreciated against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Friday, November 27 as expectations of renewed confidence that the Central Bank of Nigeria (CBN) would offer stability to the market. Before the market closed, there were indications that the CBN Governor, Mr Olayemi Cardoso, would share his plans for the Nigerian economy at a dinner for bankers in Lagos and this boosted a fresh hope, considering he had not offered a direction prior then. In the official market, the domestic currency gained N161.44 or 16.9 per cent against the Dollar

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 Aduragbemi Omiyale The bespoke children’s savings account from Wema Bank Plc, Royal Kiddies Account (RKA), has now been made better with more benefits parents would not be able to resist. A statement from the innovative financial institution disclosed that the new features were added to encourage savings and financial prudence. According to the notice, from November 1, 2022, through January 30, 2023, parents who set up a standing instruction via ALAT or in-branch for the automated funding of their children’s Royal Kiddies Account with a minimum of N10,000 per month will be eligible for the annual educational award for

By Dipo Olowookere The Nigerian Stock Exchange (NSE) kicked off 2018 on a very positive note and in the first trading month of the year, the market was busy with investors making gains. This followed the over 40 percent gained by the local bourse in 2017, which made it to be among the top five performing equities market in the world last year. But a report released by the NSE on Wednesday showed that in January 2018, foreign investors pulled out a total of N74.64 billion from the stock market. This was against N33.05 billion cashed out by foreign investors

By Dipo Olowookere The Nigerian National Petroleum Corporation (NNPC) says it is ready to recover over $184 million in product under-deliveries recorded against three oil companies in the course of reconciliation of transactions executed during the defunct crude for product swap regime. Group Managing Director of the Corporation, Dr Maikanti Baru, told journalists in Abuja that the exercise is a product of ongoing extensive reconciliation process with the companies involved namely: AITEO Energy Resource Limited, Ontario Oil and Gas Limited and Televaras Group of Companies. “We have engaged them and positively too, so far AITEO has been very cooperative and

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange continued in the bearish territory with a 0.66 per cent decline on Wednesday with the market very busy with trading activities. According to data obtained by Business Post, the volume of securities traded by NASD investors at the midweek session stood at 8.3 billion units, 105,739.5 per cent higher than the 7.8 million units transacted at the previous session. Equally, there was a significant rise in the value of shares traded by market participants by 25,701.3 per cent as shares worth N10.4 billion exchanged hands in contrast to the N40.2 million traded

By Modupe Gbadeyanka Mr Lamis Shehu Dikko has been announced by Eterna Plc as its Chairman of the Board of Directors of the company. A statement signed by the firm’s Secretary, Bunmi Agagu, disclosed that Mr Shehu Dikko, with his appointment, will bring to the board his vast corporate experience and a deep understanding of today’s governance environment. Mr Shehu Dikko, a graduate of the prestigious Ahmadu Bello University, Zaria where he obtained a Bachelor of Science degree in Economics, before now, was appointed to the board of Eterna Plc as a Non-Executive Director in October 2016. The new Chairman,

By Adedapo Adesanya The Nigerian Naira plunged against the US Dollar in the Investors and Exporters (I&E) arm of the foreign exchange (FX) market on Friday, July 14, as pressure returned on forex operations after the Central Bank of Nigeria (CBN) unified the exchange rates and put in place several policies to boost liquidity. At the official market, the Naira weakened by N21.41 or 7.72 per cent to close at N803.90/$1, in contrast to the preceding day’s value of N782.49/$1, amid low trading activities. Data from the FMDQ Securities Exchange showed that the value of FX transactions went down by

By Adedapo Adesanya The Nigerian National Petroleum Corporation (NNPC) has disclosed that Nigeria’s crude oil and gas export increased by 94.3 percent month-on-month in January 2020. The national oil company, in its first Monthly Financial and Operations Report (MFOR) for the year released in Abuja, on Wednesday, stated further that the total revenue from oil and gas within the period amounted to $434.85 million It also said that during the month under review, crude oil export sales contributed $336.65 million (77.42 percent) of the dollar transactions for the period, compared with the $136.36 million in the previous month, December 2019.

By Dipo Olowookere The management of Saint-Gobain has announced acquiring Spin-Works International Corporation, an innovative manufacturer of 3D-printed and extruded silicon carbide ceramic components that improve energy efficiency, recover waste heat and reduce emissions for customers in a wide range of high-temperature industrial processes. According to Saint-Gobain’s High-Performance Refractories, this acquisition is mainly to help its customers’ processes more sustainable—especially in the steel and automotive businesses. Spin-Works is based in Northeast, Pennsylvania (near Erie), and has approximately 20 employees. Saint-Gobain High-Performance Refractories is a global leader in ceramic and refractory solutions, with 14 manufacturing facilities throughout the world, including a