FG Pledges to Prioritise Poultry Business

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 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 NASD Over-the-Counter (OTC) Securities Exchange recorded a 0.18 per cent gain to open the week in positive territory on Monday, December 4, with the unlisted security index rising by 1.59 points to end the day at 862.40 points compared with last Friday’s closing value of 860.81 points. The improvement recorded by the bourse yesterday raised the value of the unlisted stock exchange by N2.5 billion to close at N1.169 trillion, in contrast to the preceding session’s N1.166 trillion. The gain posted by the bourse was driven by the N13.70 added to the share price of 11

By Adedapo Adesanya One of Nigeria’s digital payment and fintech companies, PalmPay, has obtained a compliance status on obligations in accordance with the Nigeria Data Protection Regulation (NDPR) for implementing all statutory requirements. With the significant growth in the internet and digital economy, the use of information raises serious concerns about privacy and data protection. Any organisation that wishes to operate effectively must ensure the security of its information by implementing a data protection plan. The National Information Technology Development Agency (NITDA), in response to concerns about personal data privacy and protection and the serious consequences of leaving personal data

By Jerome-Mario Utomi As noted by Peter Drucker in his book, Innovation and Entrepreneurship (Harper Business 1985), the greatest business breakthroughs take place as the result of “either the unexpected success or the unexpected failure.” He explained that when something unusual or unexpected happens in any field, the average person dismisses it as a random event or as an accident. The superior person, however, studies each unexpected result as if it were a sign of an underlying trend or an indication of a fundamental change in the nature of things. Likewise, Lagosians with critical minds are taking mental notes of

By Dipo Olowookere The management of UAC of Nigeria Plc has confirmed that no human casualty was recorded in the unfortunate inferno that razed part of its head office in Lagos on Thursday. Yesterday, fire gutted part of the massive building located in Marina, which destroyed some properties. It took efforts of fire fighters and some neighbouring companies to put out the fire, which started on the 10th floor of the building. In a statement signed by the Company Secretary/Legal Adviser, Mr Godwin Abimbola Samuel, UAC of Nigeria, a publicly quoted firm, however, did not state the cause of the

By Adedapo Adesanya The board of the African Development Bank (AfDB) has agreed for an independent investigation of Mr Akinwumi Adesina, its president. This comes after Mr Steven Mnuchin, US treasury secretary, rejected the investigation and report of the bank’s ethics board which had absolved Mr Adesina of allegations of favouritism. Bloomberg reports that the board agreed to an independent probe after “several foreign governments backed Mr Mnuchin’s criticism of a bank-led examination into the allegations”. Shareholders in the bank, including the Nordic countries of Denmark, Sweden, Norway and Finland, were reported to be among the countries that wrote to

By Kester Kenn Klomegah In an effort to get push its political and economic influence in Africa, Russia has begun identifying news outlets that could facilitate the distribution of its information products and contents (syndication of news reports) from Russian media organizations. Since the collapse of the Soviet Union, this is the first significant step on media cooperation by official authorities to address the information gap between the two regions. The primary objectives are to promote its Russia’s image more positively, overturn the negative perceptions among the public and to counteract anti-Russian propaganda mostly by western and European media in

By Adedapo Adesanya The NASD Over-the-counter (OTC) Securities Exchange recorded a 0.06 per cent appreciation on Tuesday, January 31, spurred by higher buying interests. In the session, the bourse, which admits unlisted securities, saw improvement in the prices of Niger Delta Exploration and Production (NDEP) Plc and Geo Fluids Plc. NDEP Plc gained N13.00 yesterday to sell at N200.00 per unit versus Monday’s closing price of N187.00 per unit, while Geo-Fluids grew by 6 Kobo to settle at N1.04 per share compared with the previous day’s 98 Kobo per share. The gains reported by the duo reined in on the

By Adedapo Adesanya Oil eased on Monday on worries that rising coronavirus cases around the world could reduce crude demand as new doubts emerged about the effectiveness of vaccines against the Omicron variant. Brent crude dropped 1.0 per cent or 76 cents to settle at $74.39 per barrel while the West Texas Intermediate (WTI) crude moderated by 0.5 per cent or 38 cents to $71.29 per barrel. The World Health Organisation (WHO) hit the market with a fresh round of scaring news as it said that the Omicron variant, reported in more than 60 countries, poses a very high global

By Modupe Gbadeyanka A bill aimed to improve the business environment of Kwara State has been signed into law by Governor AbdulRahman AbdulRazaq. A statement issued on Sunday by the Chief Press Secretary (CPS) to the Governor, Mr Rafiu Ajakaye, disclosed that the bill, Bureau of Micro, Small and Medium Scale Enterprises Bill, will create an agency to drive investments and development in the microeconomic sub-sector in the state. Business Post reports that the bill establishing the bureau was passed on March 9, 2022, by the Kwara State House of Assembly. According to him, the MSME Bureau Bill will initiate