FG Reduces Petrol Pump Price to N125 Per Litre

By Aduragbemi Omiyale The Nigerian Exchange (NGX) Limited is looking to drive gender equality and sustainable development in the country through strategic instruments like gender bonds and gender-themed sustainable financing mechanisms. The local bourse said it hopes to achieve this goal by collaborating with a global organisation like the United Nations Women (UN Women). According to the Divisional Head of Business Support Services and General Counsel at NGX, Ms Irene Robinson-Ayanwale, there is a need to galvanize public and private sector stakeholders to the development and adoption of gender-responsive instruments in Nigeria’s capital market and mobilise public and private capital

By Precious Olisa The Nigerian Extractive Industries Transparency Initiative (NEITI) has said the Nigerian National Petroleum Company (NNPC) Limited only remitted 57.27 per cent of the revenue it generated in 2021 to the federal government. The agency made this claim in a report released earlier this week, noting that the country generated $23.05 billion from the oil and gas sector in 2021 compared with the $20.43 billion achieved in 2020, with the NNPC and others keeping some funds back. Analysis showed that about $8.67 billion came from the sale of crude oil and gas, $13.37 billion was from taxes and

By Adedapo Adesanya The key performance indicators of the NASD Over-the-Counter (OTC) Securities Exchange remained unchanged at the close of transactions on Tuesday amid a mixed activity level chart. Business Post reports that the stalemate occurred after the NASD OTC exchange recorded no price gainer or loser, as the prices of stocks on the platform closed flat. Also, the total value of the alternative equity market, measured by the market capitalisation, remained unchanged at N1.138 trillion, and the NASD Unlisted Securities Index (NSI) closed flat at 805.29 points. During the trading session, investors traded a total of 501,437 units of

By Benita Ayo A while ago, it was announced that certain companies would be struck off the corporate register of the Corporate Affairs Commission. The major reason for this is the failure of defaulting companies to file their Annual Returns with the commission. I have always reiterated the fact that approval of an application to register a company does not signify that its officers can fold their hands and go to sleep. There are bundles of requirements to be fulfilled by such companies one of which is the filing of its Annual Returns. The Annual Return is a yearly account

Nigeria’s aspiration for wheat production self-sufficiency is being pursued on diverse fronts by stakeholders in the value chain including government, policymakers, farmers, researchers, scientists, institutions, millers, etc. under different aegis and initiatives. For the Flour Milling Association of Nigeria (FMAN), that initiative would be its Wheat Development Programme (WDP). Under the auspices of the FMAN WDP, millers have continued to invest over N500 million annually to support local smallholder wheat farmers amongst other activities aimed at boosting local wheat production in Nigeria. This intervention included a scaled out-grower programme that provided the high-yielding seed for smallholder wheat farmers in the

No fewer than 41,161 graduates have been trained by the Federal Government in the area of business. This was disclosed in a statement on Tuesday by spokesperson of Graduate Internship Scheme in Ondo State, Tewogbade Latona. It was further revealed in the statement that the Project Director of the scheme, Mr Dennis Chukwu, said the beneficiaries were tutored in career development and entrepreneurial skills. Mr Chukwu noted that the objective of the training was to enable graduate interns utilise the period of the training to develop useful skills and positive work ethics. It was also aimed at exposing participants to

By Modupe Gbadeyanka The federal government has expressed satisfaction with the 5.01 per cent growth in the gross domestic product (GDP) for the second quarter of 2021. The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, said this shows that the Nigerian economy was on the solid path to recovery. Mrs Ahmed, while speaking at an Executive Intelligence Management Course 14 of the National Institute for Security Studies (NISS), Bwari, Abuja, said the administration of Mr Muhammadu Buhari has shown a strong commitment to sustainable development, governance and security despite the nation’s limited revenues. At the event themed

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 Investors Hub The major U.S. index futures are pointing to a lower opening on Tuesday, with stocks likely to add to the losses posted in the previous session. Geopolitical concerns may continue to weigh on the markets amid uncertainty about the U.S. response to the attacks on Saudi Arabian oil facilities. President Donald Trump has indicated the U.S. is prepared to respond militarily but has stopped short of definitively blaming Iran for the attacks. Trump told reporters diplomacy has not been exhausted when it comes to Iran and would not rule out meeting with Iranian President Hassan Rouhani on

By Dipo Olowookere In a matter of weeks, the eventual buyer of 9mobile would be announced to the world, The Cable is reporting. Already, five companies have scaled through the final phase and they are Airtel, Globacom, Helios, Smile and Teleology Holdings Limited. According to the report, Nigeria’s largest telecommunication network provider, MTN Group, did not make it to the top five. About 16 companies had tendered expressions of interest (EoIs) to Barclays, 9mobile’s financial advisor. The firms were MTN, Airtel, Ntel, Virgin Mobile from the United Kingdom, Vodacom of South Africa, BUA Group, Morning Side Capital Partners, Obot Etiebet

By Dipo Olowookere When General Overseer of Revival Assembly Church in Lagos, Apostle Anselm Madubuko, decided to remarry some months after the death of his wife, Pastor (Mrs) Connie Madubuko, in 2012, many people castigated him. However, in an interview with The Punch, the cleric claimed God forced him to remarry very fast. According to the man of God, he never had the intention of taking another wife. Apostle Madubuko also said when he remarried, many single ladies and married woman pestering him for marriage left his church. He also talked about other issues, including fatherhood. How would you describe

By Adedapo Adesanya The shortage of foreign exchange (forex) to the market in Nigeria has started to take a huge toll on the local currency. At the parallel market on Friday, the decline in FX liquidity further devalued the Naira against the United States Dollar as operators in the market segment exchanged one single Dollar for N460. Business Post reports that at the previous trading session, the American currency was traded at N457, indicating a depreciation of N3. Also, at the same black market, the local currency lost N3 against the Pound Sterling to quote at N560/£1 in contrast to