How Nigeria Can Manage Population for Productive Economy

By Adedapo Adesanya The Naira appreciated against the US Dollar in the Nigeria Autonomous Foreign Exchange Market (NAFEM) and the unregulated Peer-to-Peer (P2P) and the parallel market segments of the foreign exchange (FX) market on Wednesday, November 29 as President Bola Tinubu reiterated his administration’s promise to meet its obligations. Speaking during the presentation of his administration’s N27.50 trillion 2024 budget proposal to the joint session of the 10th National Assembly on Wednesday, Mr Tinubu said, “Despite the challenges, we continue to meet our obligations.” In the official NAFEM segment of the market, the value of the local currency went

By Modupe Gbadeyanka The chairman of the Federal Inland Revenue Service (FIRS), Mr Zacch Adedeji, has asked his counterpart in the Economic and Financial Crimes Commission (EFCC), Mr Ola Olukoyede, to support his agency to achieve the Renewed Hope Agenda of President Bola Tinubu, who appointed both of them. Speaking during a courtesy visit to the headquarters of the anti-money laundering firm, Mr Adedeji said the EFCC has a role in ensuring that taxpayers’ funds are “judiciously utilised in line with the social contract with the people.” He assured that the FIRS would continue to strive to raise the revenue

By Adedapo Adesanya  Oil prices rose by more than $1 a barrel on Wednesday as investors focused their attention on an upcoming OPEC+ output policy meeting and looked past a jump in crude stockpiles in the United States. Brent crude futures were up by $1.01 or 1.2 per cent to $82.69 per barrel, and the US West Texas Intermediate (WTI) crude futures gained $1.16 or 1.5 per cent to close at $77.57 a barrel. Prices were lifted by a media report that the Organisation of the Petroleum Exporting Countries and allies such as Russia, known collectively as OPEC+, was considering

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 Dipo Olowookere The Chief Financial Officer of Ecobank Transnational Incorporated, the parent company of the Ecobank Group, Mr Greg Davis, has resigned from the position. It was explained that Mr Davis threw in the towel so as to spend more time with his young family who are in the United Kingdom. At a meeting of Ecobank’s board, the resignation of Mr Davis was accepted and in line with the bank’s established executive succession plan, the board has appointed Mr Ayo Adepoju, Vice President, Group Finance as acting CFO. Mr Davis was a key member of the team, closely supporting

By Adedapo Adesanya The Chairperson of the African Union Commission, Mr Moussa Faki Mahamat, has strongly condemned the shooting of unarmed #EndSARS protesters in Lagos on Tuesday, October 20, 2020, by government forces. The Chairperson of the regional body’s commission offered his sincere condolences to the families of those who lost their lives and wished those who sustained injuries a speedy recovery. Mr Mahamat used the opportunity to appeal to all political and social actors to reject the use of violence and respect human rights and the rule of law. He further urged all parties to embrace dialogue in order

By Adedapo Adesanya  The federal government has ordered the Nigerian National Petroleum Corporation (NNPC) to adjust the price of fuel to reflect the present global market realities. According to a briefing from the Federal Executive Council (FEC), the new pump price of petrol is now N125 per litre, from N145 per litre. The President, Mr Muhammadu Buhari, ordered that the adjustment to take effect from Thursday, March 19, 2020. Giving the directive on behalf of the President, the Minister of State for Petroleum Resources, Mr Timipre Sylva, told newsmen that compliance by petroleum marketers is to be enforced by the

By Ebitonye Akpodigha Regional Director for Sage West Africa, Mr Magnus Nmonwu, has suggested that providing support for small businesses in Nigeria could be one of the key ingredients to carrying the country through these tough times. He pointed out that this should become a priority for big businesses and the Federal Government. “Nigerian entrepreneurs and business owners are the engines that drive the country’s economy,” says Mr Nmonwu. He added that, “During recessions, big companies are able to adjust by downsizing and cutting costs. Small businesses, however, keep going and carry the losses. They need our support, as they

By Dipo Olowookere The total value of equities of companies on the floor of the Nigerian Stock Exchange (NSE) was inflated further by N36 billion on Friday. This followed the positive performance of stocks in the oil/gas, banking, consumer goods and insurance sectors, which finished higher by 2.57 percent, 1.21 percent, 1.23 percent and 1.25 percent respectively. At the close of transactions yesterday, the local bourse closed 0.31 percent higher, increasing the year-to-date gain to 0.32 percent, with the All-Share Index (ASI) rising by 96.43 points to settle at 31,529.92 points. Business Post reports that the volume of shares traded

By Modupe Gbadeyanka In order to deliver better care and treatment of chronic, common and complex diseases, especially in remote and underserved locations, a leading grassroots telemedicine platform in Nigeria, PreDiagnosis International, has partnered with the Project ECHO Institute of the University of New Mexico, USA. The deal involves knowledge sharing and transfer on chronic and complex diseases with medical professionals in the country. It was gathered that the innovative tele-mentoring programme codenamed Project ECHO was designed to create virtual communities of learners by bringing together healthcare providers from all over Nigeria and subject matter experts from different parts of

By Dipo Olowookere It was a positive start to a new week on the floor of the Nigerian Exchange (NGX) Limited on Monday as trading indices appreciated by 0.12 per cent. This pushed the All-Share Index (ASI) higher by 51.48 points to 41,814.74 points from 41,763.26 points, while the market capitalisation rose by N27 billion to N21.821 trillion from N21.794 trillion. During the trading day, PZ Cussons was the biggest price gainer as its value rose by 9.32 per cent to N6.45 and was trailed by Mutual Benefits Assurance, which grew by 7.14 per cent to 30 kobo. Further, Unilever

By Modupe Gbadeyanka Oyo State Commissioner for Lands, Housing and Urban Development, Mr Isaac Omodewu, has disclosed that getting Certificate of Occupancy (C of O) in the state would no longer be a herculean task. Mr Omodewu, speaking on Wednesday, November 9, 2016, during the Inter-Ministerial briefing recently held at the Ministry of Information Mini Theatre in Ibadan, noted that the issuance of C of O would now be processed under 60 days if proper documents were submitted by land owners. According to him, the era of infinite processing period for C of O was now a thing of the