Industrial Goods Stocks Shrink Nigerian Exchange by 0.20%

By Bliss Okperan Nigeria recorded an improvement in its trade surplus in the third quarter of 2023, according to data released by the National Bureau of Statistics (NBS), which was analysed by Business Post. The agency disclosed that in the period under review, the total value of exports stood at N10.347 trillion, while imports stood at N8.458 trillion, leaving the total value of trades at N18.802 trillion, 60.78 per cent higher than the N6.435 trillion achieved in the second quarter of 2023. Analysis showed that between July and September 2023, the country, which prides itself as the biggest economy in

By Adedapo Adesanya The Nigeria Labour Congress (NLC) has said it would ensure that the next national minimum wage to be negotiated in 2024 reflects the prevailing cost of living. The union also lamented that following the removal of fuel subsidy by the federal government, life has become extremely unbearable for workers. Addressing participants at the opening of the 19th edition of the NLC’s Harmattan School in Abuja, President of the NLC, Mr Joe Ajaero, said it had become necessary for governments at all levels to recognise that life and living conditions were exceedingly difficult, especially for working people in

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 Dipo Olowookere The Nigerian Exchange (NGX) Limited commenced the first trading session in December 2023 on a bullish note, with a marginal growth of 0.08 per cent. Sustained buying pressure kept Nigerian stocks in the positive territory, extending the dominance of the bulls on Customs Street, though the turnover waned. Business Post observed that investors cherry-picked equities in the banking and the energy sectors during the session, leaving them rising by 1.14 per cent and 0.05 per cent, respectively. However, the insurance counter lost 1.10 per cent, the consumer goods index depreciated by 0.08 per cent, and the industrial

Sports betting has taken Nigeria by storm! And it’s hard to ignore its incredible growth in recent years. Betting was only legalised in Nigeria in 2005 under the National Lottery Act 2005. The late 2000s witnessed a game-changing rise of online sports betting in African countries. Now, you can find countless Nigerian betting sites operating nationwide, and guess what? Around 60 million Nigerians are actively placing their bets. That is an incredible one-third of the population getting in on the action! Despite being Africa’s second-largest online gambling market, some experts believe it won’t take long before Nigeria surpasses South Africa. What’s driving this

By Dipo Olowookere A passionate appeal has been made to the Federal Government to as a matter of urgency, “private our airports” so as to make it very competitive like the British. In a recorded video message of his ‘Common Sense’ series, Senator Ben Murray-Bruce, a member of the Senate Committee on Aviation, said as long as government was in total “control and management” airports in the country, the nation’s aviation industry will continue to poor state as it is now. Mr Murray-Bruce said Nigeria can make its aviation industry as viable as the oil and gas industry, the country’s

By Modupe Gbadeyanka A popular Yoruba actor, Mr Kamal Adebayo, otherwise known as Sir K Kamoru by his numerous fans and colleagues, has been reported dead. The veteran entertainer, who acted in roles in many films and ditched out several hilarious slangs, was said to have died some hours ago, though the cause of his death is yet to be made public. He gave birth to the popular skit maker, Mr Abidemi Adebayo, who is well known as Isbae U. The deceased, who also acted as a tout in movies, is one of the allies of a popular transport union

By Adedapo Adesanya  Ecobank has taken legal action against one of its client, Rahamaniyya Oil and Gas, over a N25.9 billion debt allegation owed to the bank. According to reports, the bank will hope to recover N25,900,959,351.88 allegedly owed by the oil firm and its owner, Mr Abdulrahman Musa Bashir. The bank’s legal team, Olisa Agbakoba Legal (OAL), said the money in question was used for the purchase of petroleum products. The legal charges were filed at the Federal High Court in Lagos and the High Court of the Federal Capital Territory, Abuja. Justice Chuka Obiozor of the Federal High

By Adeniyi Ogunfowoke If you are the owner of a startup, you are definitely a risk-taker. The danger here is that you may become comfortable with taking a risk that you can sometimes ignore smart and simple ways to minimise the impact of any potential failure. In line with this, Jumia Travel, the leading online travel agency highlights seven ways to reduce startup risks. Applying this will lessen the chances of your business failing. Diversify your income You must not depend on one source of income as a business man. The reason for having multiple sources is to cushion the

By Aduragbemi Omiyale The Pension Transitional Arrangement Directorate (PTAD) said it had paid about N6.647 billion to 5,907 pensioners of the defunct Nigerian Telecommunications Limited (NITEL)/mTel. In a statement issued by the agency on Thursday, it was disclosed that the payment was for 15 months of inherited unfunded pension liabilities for NITEL pensioners. It was stated that the Executive Secretary of PTAD, Ms Chioma Ejikeme, confirmed the payment during her presentation at the 58th session of the State House Briefing. At the event, she said the organisation had recorded giant strides in pension service delivery in Nigeria, assuring that the

By Modupe Gbadeyanka A member of the Senate from Rivers State, Mr Magnus Abe, has warned that it the issue of environment pollution was not taken seriously by the Federal Government, Nigerians might end up buying poisonous food at the market. Mr Abe gave this warning on Tuesday while contributing to a motion moved by Chairman of Senate Committee on Environment, Mrs Oluremi Tinubu, calling on the government to give priority to the environment. The Senate was deliberating on this issue a day after the World Environment Day, marked every June 5 to create awareness for environmental issues and protection

By Adedapo Adesanya The fourth phase of the MTN ICT & Business Skills Training implemented by the MTN Foundation alongside its partners, Google, Cisco and Oracle, was wrapped up neatly with a virtual closing ceremony on December 11, 2020. The training, which was held virtually for four weeks, brought together about 2,000 participants from across five Nigerian states: Abia, Kaduna, Borno, Katsina and Akwa Ibom. The beneficiaries were taught by seasoned facilitators on entrepreneurship, cybersecurity and deploying data and insights to grow their businesses. Participants were divided into four groups to devise solutions to problems experienced by Nigerians. At the