Forte Oil, 23 Others Stretch NSE’s Bearish Trend to Sixth Session

By Aduragbemi Omiyale President Bola Tinubu has said the 2024 budget presented to the joint session of the National Assembly on Wednesday was designed to achieve macroeconomic stability, a better investment environment, greater access to social security, poverty reduction and enhanced human capital development. According to him, if these goals are achieved, the standard of living of Nigerians will improve and the citizens will enjoy the dividends of democracy. While presenting the 2024 Appropriation Bills to the parliament yesterday, the President said this was why he christened the budget proposal as the Budget of Renewed Hope. Mr Tinubu told the

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 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 Adedapo Adesanya A hybrid solar power solutions provider, Daystar Power, has signed an agreement with Nigerian Breweries to install and operate a 4.2MWp solar plant and 2MWh battery storage system that will help the firm reduce its high energy costs. The installation will be one of the largest solar and battery storage projects for an industrial manufacturer in Nigeria. The hybrid solar solution will generate 5,249 MWh of electricity – 42 per cent of its daytime power consumption – every year at Nigerian Breweries’ Lagos brewery. According to a statement, the integration of solar into the factory’s energy mix

By Dipo Olowookere Over a year ago, it was reported that an investor, Camey and Rock Business Consulting Limited, had offered to inject N4.3 billion into Resort Savings and Loans Plc. The money was to cover the purchase of all the unissued 8,670,267,596 ordinary shares of the bank to the new investor, who was coming to recapitalise the business in line with the directive of the Central Bank of Nigeria (CBN), which regulates the sector. Since then, not much has been heard about the transaction and on Wednesday, Resort Savings gave an update to the investing public. In its disclosure

There are phenomenal things going on in the tech startup space currently in Nigeria. Most recently, Surjen, a health tech company, joined the game to deliver quality care and take world-class medical assistance to patients, thereby making primary healthcare more accessible and affordable to one and all. Surjen is a health tech company based in Abuja and connects the fragmented medical community with millions of patients across the country. The company has made information more accessible by creating a platform that allows healthcare providers to list their services and provide an array of services for patients, mainly for surgery packages

By Modupe Gbadeyanka Lovers of football can be rest assured to see the Africa Cup of Nations’ (AFCON) qualifying match between Nigeria and South Africa live on SuperSport tomorrow, Saturday, June 10, 2017. Super Eagles will play their Bafana Bafana opponent at the Godswill Akpabio International Stadium in Uyo, Akwa-Ibom State in a bid to book a spot in the continental tournament slated for 2019. All active DStv Premium, Compact Plus and Compact subscribers have been urged to take the front row seats to catch the exciting line up LIVE on SS4 and GOtv Plus subscribers on SS9 at 4:30

By Aduragbemi Omiyale The management of the Securities and Exchange Commission (SEC) has described as false news making the round that it was currently recruiting into the agency. In a statement issued on Thursday, the apex regulatory agency in the Nigerian capital market asked the public to disregard news on some websites and blogs (excluding Business Post) on the purported recruitment exercise. “The attention of the Securities and Exchange Commission has been drawn to several websites and blogs purportedly affiliated to the commission, which is said to be advertising ongoing ‘recruitment exercise’ by the commission. “They claim to provide vital

2020 presented people all over the world with too much uncertainty. Businesses both large and small came down to their knees with financial shortcomings. Luckily, the catastrophe did not last as long as we feared it might. Now gambling establishments have reopened in most countries albeit Coronavirus health directives like social distancing and regular sanitization of surfaces. The Kenyan gambling market has seen a consistent rise in the last few years especially, with the increased penetration of the internet and other technologies. Online gambling in Kenya is one of the most financially stable industries and anyone hoping to invest their

By Adedapo Adesanya Oil prices pointed south on Monday as investors worried about a second wave of coronavirus infections that could threaten the markets even as demand shows signs of slow recovery. Even the announcement of new output cut from Saudi Arabia and Kuwait could not do much to lift prices during the trading day. However, the market welcomed development, expressing optimism that it could play a part in solving the oversupply problem threatening the crude oil space. At market yesterday, the Brent crude futures fell $1.34 or 4.3 percent to $29.63 per barrel, while the US West Texas Intermediate

By Modupe Gbadeyanka The export capacity of Nigeria’s crude oil is expected to rise by 575,000 barrels per day in the last quarter of 2016. This is due to repairs being carried out on oil facilities vandalised or destroyed by militants in the Niger Delta. Renewed attacks by the militants had caused reduction in the volume of oil produced per day, which forced the Nigeria into recession coupled with the slump in prices of the products in the market. Last week, Shell lifted force majeure on Bonny Light, following the repair and reopening of the Nembe Creek Trunk Line (NCTL)

By Modupe Gbadeyanka President Muhammadu Buhari has met with the families of victims of the explosion in Kano State to express his condolences and that of the nation, describing the incident as sad and unfortunate. Mr Buhari met the Kano explosion victims on Monday during a short visit to officiate at the Nigerian Air Force Day and 58th Anniversary Celebration, a statement from the Senior Special Assistant to the President on Media and Publicity, Mr Garba Shehu stated. At a visit to the palace of the Emir, Mr Aminu Ado Bayero, the President spoke with various community leaders resident in