Hankotrade Review 2023 | Notable Advantages And Potential Drawbacks

By Adedapo Adesanya  The federal government, through the Nigerian Ports Authority (NPA), has announced plans to invest $1.1 billion to fully rehabilitate decaying port infrastructure at TinCan, Apapa, Rivers, Delta, Calabar, and Onne ports as part of efforts to improve the efficiency of the nation’s existing ports. Out of the estimated 47,000 kilometres of coastline in Africa, Nigeria makes up about 853 kilometres, creating the perfect opportunity to get access to its much-needed revenue. This coastline and a 200 nautical mile exclusive economic zone make up Nigeria’s coastline in the Gulf of Guinea. The coastline equals a maritime area of

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange fell into the danger zone on Tuesday, November 28, as it recorded a 1.14 per cent loss after the price of three securities on the platform closed lower. This chopped off N13.33 billion from the NASD OTC securities exchange at the close of transactions, going down to N1.158 trillion from the N1.171 trillion it ended in the previous session. Business Post reports that the effort of a price gainer yesterday could not save the NASD Unlisted Security Index (NSI) from declining by 9.84 points to 854.67 points from the 864.51 points

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 Dipo Olowookere For the first time this week, the Nigerian Exchange (NGX) Limited closed in positive territory on Thursday after it traded higher by 0.03 per cent on renewed bargain-hunting. The market was lifted by the buying pressure in the consumer goods and industrial goods sectors, which appreciated by 0.20 per cent and 0.09 per cent, respectively. The insurance sector also gained 0.20 per cent during the session. However, the banking counter depreciated by 0.82 per cent and the energy index fell by 0.39 per cent. It was observed that the losses printed by the two sectors could not

By Adedapo Adesanya Infection with the Omicron coronavirus variant can also strengthen immunity against the earlier Delta strain, reducing the risk of severe disease, according to a new paper released by South African scientists. The study, produced by Alex Sigal and Khadija Khan of the Durban-based Africa Health Research Institute, subjects infected with the Omicron variant not only saw immunity to subsequent Omiron infections rise 14-fold but also saw has been shown to be highly transmissible and can evade some antibodies, after two weeks of getting symptoms immunity to subsequent infections from the strain rose 14-fold, but also a 4-fold

By Dipo Olowookere In the coming months, Oando Plc may no longer trade its shares at the Nigerian Exchange (NGX) Limited as there are plans to buy out the 42.63 per cent stake of the company’s stocks held by minority investors. The energy firm, which is listed on the NGX and the Johannesburg Stock Exchange (JSE), has not had it smooth with a few investors as well as the regulators. Recall that a few years ago, the organisation was sanctioned by the Securities and Exchange Commission (SEC) after it was discovered through an investigation that the company allegedly tampered with

By Adedapo Adesanya The Central Bank of Nigeria (CBN) has moved the first monthly Monetary Policy Committee (MPC) meeting for the year to a different date earlier announced to the public. In a circular released by the apex bank, it was stated that the two-day meeting, which would be the 271st edition, has been rescheduled to take place on Thursday, January 23, and Friday, January 24, 2020. The central bank had initially asked members of the committee to gather for the meeting on Monday, January 20 and Tuesday, January 21 in Abuja to deliberate on some issues affecting the economy,

By Adedapo Adesanya Unveiled last week with the very first AR (Augmented Reality) launch in the world, top mobile phone brand, Tecno, has onboarded the latest camera phone Camon 16 Premier with flagship-level 64-megapixel ultra-quad and the first pioneering 48-megapixel dual front camera to the market. For the Nigerian market, it has rolled out some amazing pre-order plans alongside the amazing features the series will be coming with collage. The phone maker noted that those who pre-order the Camon 16 Premier stand the chance to win a Camon 16 Premier Phone and other amazing prizes. Once you pre-order the Camon

By Modupe Gbadeyanka The Center for Middle Eastern Studies (CMES) at Harvard University today opened its first overseas office in Tunisia, home to a tradition of learning and research that extends from Antiquity to the present. The office and the year-round programs run from the location are made possible by the support of Harvard College alumnus Hazem Ben-Gacem (AB ’92). “The Middle East is a part of the world that you’ll never fully understand unless you get your feet on the ground and experience it first-hand,” said William Granara, CMES Director and Professor of Arabic. “Thanks to Hazem’s generosity, Harvard

By Quantitative Financial Analytics NIFEX Spot The FMDQ NIFEX Spot regained some movement after three days of being flat as it ended the day at 313.75 against the previous rate of N315.125. This change represents a decrease of N1.375 or 0.44% coming as the CBN clamps down on black market forex traders. Open Interest and Volume Analysis Open interest in currency futures increased by $8.72 or .24% from 3,606 to 3,614.72 due largely to additional notional purchases of the newly introduced NGUS NOV 29 2017 currency futures which is now the cheapest at N262/$. Since being introduced, the new future

By Dipo Olowookere United Bank for Africa (UBA) on Thursday released its unaudited first quarter results, showing significant growth across major income lines. The top Nigerian lender started off 2017 on a good note with an impressive 41 percent year-on-year growth in profit-before-tax in the first three months of the year. Last year, the Pan African financial institution recorded a sterling performance. UBA recorded N25.5 billion in profit before tax in the first quarter, ending March 31, 2017, compared with N18.1 billion achieved in the first quarter of 2016, boosted by strong growth in both interest and non-interest income as