FG Vows to Solve Housing Needs of Nigerians

By Aduragbemi Omiyale A workshop designed to educate investors, especially those in the retail end of the curve, on how they can improve corporate governance has been organised by the Nigerian Exchange Regulation (NGX RegCo) Limited. The two-day event, which took place on Thursday, November 23, and Friday, November 24, 2023, was themed Rights and Responsibilities of Shareholders in Driving Corporate Governance. According to the NGX RegCo, the seminar was designed to promote a transparent and fair market, with participants agreeing that all hands must be on deck to sanitize the market and bring the boards and management of listed

By Adedapo Adesanya The Supreme Court has ordered that the old N200, N500, and N1,000 notes should continue to co-exist with the new banknotes beyond the earlier December 31, 2023, deadline. The apex court ruled on Wednesday that both old and new notes should continue to remain legal tender until the federal government puts a process in place for its replacement or redesign after due consultation with relevant stakeholders. The seven-man panel led by Justice Inyang Okoro gave the ruling following an application by the central government asking the court to grant an extension of time for old naira notes

By Dipo Olowookere Local equities rebounded by 0.34 per cent on Wednesday on the back of buying pressure on a few energy stocks and others at the Nigerian Exchange (NGX) Limited. According to data from the bourse, the bullish stance was attained despite profit-taking activities in the banking space amid plans by the Central Bank of Nigeria (CBN) to recapitalise the industry, leaving the market breadth index negative. This was because the number of price losers was more than the price gainers at 39 and 19 apiece, indicating a weak investor sentiment. Business Post reports that the energy counter grew

By Adedapo Adesanya President Bola Tinubu is targeting to grow Nigeria’s economy by 3.76 per cent next year and moderate the country’s inflation to 21.4 per cent. Speaking at his first budget speech to lawmakers on Wednesday, President Tinubu also projected higher oil production and tax collection, noting that this will boost government revenues and cut down on reliance on borrowing to finance budget deficits. Nigeria plans on spending N27.5 billion in the 2024 fiscal year, with priorities on security, infrastructure and easing the high cost-of-living crisis. The country will borrow around N9 trillion and N18.5 billion generated from internally

By Akin Adewakun The term, innovate or die, is no longer new in marketing parlance. Interestingly, the nation’s economic weather,  which manufacturers and consumers are increasingly finding very unbearable, has made this term very apt in today’s survival battles among brands. Presently, no market segment is this suitably demonstrated than the nation’s dairy market. For instance, since milk intake is fast becoming a luxury among Nigerians, despite its very significant benefits to the individual’s health, brands playing in this market are being left with no other option than to either innovate and come up with new ideas of bonding their

By Dipo Olowookere In a bid to dominate the market and also satisfy the needs of its consumers, Flour Mills of Nigeria has introduced the 400g Golden Penny Pasta pack. This product will afford customers an invaluable opportunity of varied tasty nutritious pasta options in a period some of them are struggling with low purchasing power as a result of the harsh economy. According to the leading manufacturer of superior quality products, the new 400g pack will provide young families with midi packs designed to serve various purposes and needs. The notable player within the food and agro-allied sector explained

By Dipo Olowookere The N10 billion commercial paper programme of Fidson Healthcare Plc has been accepted by the board listings, markets and technology committee of FMDQ Securities Exchange. According to the Chief Financial Officer of Fidson, Mr Imokha Ayebae, the debt instrument would be used to meet the short-term working capital requirements of the organisation. He described the registration of the CP programme of the platform as significant because it coincides with the 26th anniversary of the company. “We are glad about the successful registration of Fidson Healthcare Plc’s N10.00 billion CP programme on the FMDQ platform. “This is particularly

By Modupe Gbadeyanka A total of 106 new buses would be purchased with the sum of N9.4 billion for the Oyo State’s mass transit scheme, Mr Taiwo Adisa, the Chief Press Secretary to Governor Seyi Makinde, has disclosed. Mr Adisa, in a statement on Wednesday, noted that the purchase of the buses will greatly assist the development of intra-city transportation in Ibadan and other parts of the state and also boost the economic development of the state. It was disclosed that the decision to pay N9.6 billion for the purchase of the vehicles was reached at the Oyo State executive

By Adedapo Adesanya Master Ifeoluwa Olusanya, an 11-year-old whiz kid from Lagos, has emerged the winner of the Next Robotics Legend Competition. Ifeoluwa designed a robot called Tropical Robotic Farming Solution (TRFS) to solve key problems he identified within the agricultural sector which include the inability to detect soil diseases promptly and the lack of ‘intelligent’ agricultural equipment to control the rate of plant nutrients and fertilisers needed for crops to grow maximally. Reacting to being declared the winner and speaking on his experience during the programme, Ifeoluwa said, “It was a surreal feeling when I was announced as the

By Adedapo Adesanya The Nigerian Content Development and Monitoring Board (NCDMB) has embarked on the training of indigenous companies on Quality Management Systems (QMS). This is part of efforts by the board to build, improve and increase the capacity of Nigerians in the oil and gas sector. The QMS training, which is ongoing in Port Harcourt, the capital of oil-rich Rivers State, is the first series of the second phase of the training. QMS is a structured system that documents the processes, methods, and responsibilities for accomplishing quality policies and objectives. In this context, it will assist the local organisations

By Modupe Gbadeyanka The Conference of Nigeria Political Parties (CNPP) has called on the international community and lovers of democracy across the world to hold the Chairman of the Independent National Electoral Commission (INEC), Prof. Mahmood Yakubu, responsible for the observable manipulations of the collation process in the presidential election held on Saturday, February 25, 2023. In a statement signed by its Secretary General, Mr Willy Ezugwu, the group blamed the commission for shifting the goal post in the middle of a match, stressing that its decision not to transmit election results from the polling units directly into its server

By Adedapo Adesanya The World Bank has cautioned that the coronavirus (COVID-19) pandemic may push up to 60 million people into extreme poverty globally, wiping out the gains made in recent years. According to the Bretton Wood institution on Tuesday, many countries will bear the plight brought about by the pandemic and force those who earn under $1.90 per day into economic hardship. “The pandemic and shutdown of advanced economies could push as many as 60 million people into extreme poverty, erasing much of the recent progress made in poverty alleviation,” said World Bank Group President, Mr David Malpass. Mr