How T-Bills Rates Are Determined—DMO

By Adedapo Adesanya The Nigerian Shippers’ Council (NSC) has expressed its readiness to partner with the Lekki Deep Seaport by promoting the seamless movement of cargo and the efficiency of the nation’s ports. The NSC Executive Secretary, Mr Pius Akutah, gave the assurance when the Managing Director, Lekki Port LFTZ Enterprise Limited (LPLEL) – promoters of Lekki Deep Seaport, Mr Du Ruogang, led the port’s management on a courtesy visit to the NSC in Lagos. Mr Akutah, who commended the Lekki Deep Seaport management for the visit, said the council would partner with the port in areas that would boost

By Adedapo Adesanya  The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has projected that its Industry Sustainability Initiative (NISI) will create over $575 billion in capital investment opportunities for Nigeria through the decarbonisation of operations. According to a statement, NMDPRA, while hosting a session on Nigeria’s Pathway to Energy Sustainability and NMDPRA’s Role at the UN Climate Change Conference 2023 (COP28) in Dubai, UAE, x-rayed Nigeria’s journey towards reducing carbon emission and achieving Net Zero by 2060. Speaking at the event, Mr Mustapha Lamorde, the authority’s Executive Director on Health, Safety, Environment and Community (HSEC), said the investment would be

By Modupe Gbadeyanka Business owners in Lagos have been assured of more incentives by the state governor, Mr Babajide Sanwo-Olu, who added that this is part of his administration’s commitment to reforms aimed at improving the ease of doing business and enhancing investment opportunities. Speaking at the commissioning of the newly-built wet hair production factory of Godrej Nigeria Limited, the Governor said his government would continue to pursue actions that would eliminate red tapes and regulatory impediments hindering the growth of businesses in the state, thereby demonstrating his willingness for continued collaboration with the private sector to improve the livelihood

By Modupe Gbadeyanka This week, the Nigerian Stock Exchange (NSE) is expected to close in red territory amid sell pressure by speculators despite the attractive valuations and dividend yields, analysts at Cowry Asset have predicted. Business Post reports that in the first week after the conclusion of the relatively positive 9 months corporate earnings season, the local bourse ended on a positive note, appreciating by 0.23 percent week-on-week. This came on the back of bargain hunting by investors despite the weaker trading activity during trading last week. The overall market performance measure, NSE ASI, closed higher at 32,200.21 points while

By Adedapo Adesanya As part of the federal government’s directive to ease the process of doing business in the country, the Corporate Affairs Commission (CAC) said the processes of registering a business and getting a tax ID have been merged. This means prospective business owners who want to register their companies would no longer need to approach the Federal Inland Revenue Service (FIRS) for a tax identification number (TIN). In a statement released on Monday, CAC said its certificates of incorporation issued to business owners will now carry TINs, eliminating the long process of acquiring the tax IDs from the

By Modupe Gbadeyanka Trading activities on the floor of the National Association of Securities Dealers (NASD) closed this week on a negative note. The NASD OTC Market ended with a decline in market metrics, as the NASD USI went down by 1.09 percent, closing at 656.55 points against 663.82 points last Friday. Consequently, the total market capitalisation shed 1.09 percent this week, closing lower at N444.30 billion compared to N449.23 billion last Friday. FrieslandCampina WAMCO Nigeria Plc was the biggest price loser during the week, losing N5 of its share value to close at N150 per share against the previous

By Dipo Olowookere Former President of Tanzania, Mr Jakaya Kikwete, will lead the Commonwealth Observer Group for the general elections in Nigeria, scheduled for February 16, 2019, the Commonwealth Secretary-General, Patricia Scotland, has announced. Scotland constituted the observer group following an invitation from Nigeria’s Independent National Electoral Commission (INEC). Members of the observer group include politicians, diplomats and experts in law, human rights, gender and election administration from across the Commonwealth. An advance group of observers was deployed to Nigeria on January 29, while other members of the team are expected to arrive in Abuja on February 8. “The Commonwealth

By Dipo Olowookere The sum of N222 billion was lost by the Nigerian Stock Exchange (NSE) on Monday, no thanks to profit takers, who embarked on sell offs. The local bourse depreciated on the first trading day of the week by 2.02 percent, expanding the year-to-date loss to 23.00 percent after the All-Share Index (ASI) reduced by 425.24 points to 20,669.38 points from 21,094.62 points. In the same vein, the market capitalisation decreased by N222 billion to N10.772 trillion from N10.994 trillion. Business Post reports that the activity level was green yesterday as the volume, value and number of deals

By Dipo Olowookere On Sunday, May 22, 2022, the Nigerian Idol Season 7 sponsored by Bigi and Binance will come to an end and a winner announced. Last Sunday, Banty failed to make it to the Top 2 as she was eliminated from the show after securing the least votes, leaving Progress and Zadok to compete for the N100 million prizes promised by the organisers. This Sunday, the duo will know their fate but they will expect that their performances in the last episode can fetch them the needed votes to clinch the coveted crown. Last week, the two contestants

By Akande Segun Okay, I hold up my hands and openly confess – I’ve tried and tried so very hard to understand why Nigerian customer service personnel are so incapable of smiling when customers approach them. Is it something to do with our genes /DNA? Or did God forget to give us that extra ‘smile’ muscle which empowers us to not only smile when with friends and loved ones or whilst watching something funny on TV but also whilst serving Nigerian customers (I say Nigerian because I’ve noticed they somehow always remember to smile when serving Caucasians). For that is

By Dipo Olowookere Federal government has been urged to redirect its attention to revamping one of Nigeria’s oldest tourism products, the National Theatre, emphasising that this will yield massive revenue for the tourism sector. This was the position of the Managing Director of Jumia’s hotel and flight booking services, Omolara Adagunodo. This call is coming months after Ms Adagunodo urged government to leverage the synergy between the entertainment and hospitality sector to boost revenue for the economy. The National Theatre, which was established in 1976 to promote arts and culture in the country, is currently in dire need of attention