Market Expect N551b Inflow from Maturing Treasury Bills

By Bliss Okperan Nigeria’s internet speed averages 25 megabits per second (Mbps), according to data from Surf Shark, a cybersecurity company focused on developing humanised privacy and security solutions. The ranking, contained in the 5th annual (Digital Quality of Life Index (DQL), showed that the country dropped two places to 7th from 9th within the last two years. A quick average analysis shows that at an average of 25 Mbps, Nigeria is far from the world’s fastest fixed internet Singapore, which is 300 Mbps and is ahead compared to the slowest fixed internet in the world, Yemen, which is 11

By Adedapo Adesanya A foreign oil company, Equinor ASA, has chosen a little-known Nigerian company, Chappal Energy, as the preferred buyer of its stake in one of the country’s largest deep-water oil fields, Agbami. According to a report by Bloomberg on Monday, the Norwegian energy giant is trying to sell its 20.2 per cent interest in the Agbami field – joining other international producers such as Shell Plc, Exxon Mobil Corporation and Eni SpA in looking to offload assets in Africa’s biggest crude producer, Nigeria. In January, Equinor launched the sale of its stake in an offshore Nigerian oilfield, joining

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange continued its weekly positive run as it extended its gains by 0.41 per cent in the 38th week of trading in this year. The bullish posture was supported by the improvements in the share prices of six companies admitted to the alternative stock exchange in Nigeria. This increased the NASD Unlisted Securities Index (NSI) by  2.30 points from 805.65 points in the previous week to 808.95 points, as the market capitalisation of the bourse was relatively unchanged on a week-on-week at N1.140 trillion. Food Concepts Plc led the price gainers’ after

By Bliss Okperan The exchange rate instability in the country is already giving small business owners sleepless nights and it threatens their investments. This concern was raised recently by the National Vice Chairman of the Nigerian Association of Small-Scale Industrialists, Mr Segun Kuti-George. He emphasised that business owners would have to increase their prices because of the unavoidable consequence of the current exchange rate crisis in Nigeria. According to him, if consumers are unable to meet up with the increase in the cost of goods and services, businesses would be forced to shut down their operations, which would, in turn,

By Modupe Gbadeyanka Customers of Airtel Nigeria will now have the opportunity to enjoy the best deals on Konga whenever they shop on the leading composite online and offline retail chain in Africa. This followed the strategic partnership sealed between the two organisations on Thursday, March 31, 2022, at the headquarters of the telecommunications services provider in Banana Island, Ikoyi, Lagos. According to a statement issued by the telco, Airtel customers will get items at the best prices at their fingertips and delivered to their doorsteps regardless of their location through Konga. The Chief Commercial Officer of Airtel Nigeria, Mr

By Dipo Olowookere Operators of barge along the Marina coastline in Lagos State have been directed to leave or risk being arrested by the police and made to face the full wrath of the law. This directive by given by the federal government and Lagos State government and it was part of efforts to restore the beauty and serenity of the coastline. On Tuesday morning, the Minister of Transportation, Mr Rotimi Amaechi, was at the coastline in company of the state governor, Mr Babajide Sanwo-Olu, as well as the Managing Director of the Nigerian Ports Authority (NPA), Ms Hadiza Bala

By Adedapo Adesanya MTN Nigeria has announced that Nigeria has become the first country in West Africa to test run and experience 5G technology potential and applications. This came as a result of a strong collaboration between the Ministry of Communications Technology and Digital Economy, the Nigerian Communications Commission (NCC), MTN and Huawei (Abuja), ZTE (Calabar) and Ericsson (Lagos). This immersive trial and experience will travel across three Nigerian cities to showcase the capabilities of 5G and its potential to enable economic growth, and social inclusion. Speaking shortly after taking a tour of the exhibition booths, Minister of Communication Technology

By Dipo Olowookere Youths in Bayelsa State under the aegis of the Ijaw Youth Congress (Central Zone) have apologised for staging a demonstration against the Nigerian Content Development and Monitoring Board (NCDMB), in Yenagoa, Bayelsa State, recently over claims that the board had moved its core operations to Abuja and Lagos. Youths from the IYC Central Zone, numbering over 100 had invaded the NCDMB headquarters at Opolo on August 31, 2017. They pulled down part of the perimeter fence and disrupted work, alleging also that the headquarters building project had been slowed down deliberately. But Chairman of the IYC Central

By Dipo Olowookere The need for oil and gas companies in the upstream and midstream to list their shares for trading on the Nigerian Stock Exchange (NSE) has been emphasised by the Executive Secretary of Nigerian Content Development and Monitoring Board (NCDMB), Mr Simbi Wabote. Speaking on Tuesday on the floor of the NSE, Mr Wabote said listing of oil and gas firms on the stock market would change the operating model of the industry and enable the pooling of funds for growth, empowerment and inclusion of Nigerians in the activities of the sector. He submitted that oil and gas

Who doesn’t love a good sports match? We all know that there’s something about the feeling of watching a competitive game, especially a soccer match, which makes it impossible to take your eyes off the screen. It’s like time suddenly comes to stand still as you witness some of today’s legends clashing against each other on their path towards glory. Now, let’s look at some exciting moments from historically important soccer matches and the context surrounding these thrilling games. Brazil vs. Germany, 2014 World Cup Semifinal – An epic battle between two soccer powers that ended in a heartbreaking loss

By Adedapo Adesanya The Nigerian Content Development and Monitoring Board (NCDMB) has said that Africa’s industrialisation agenda is at the heart of the African Continental Free Trade Agreement (AfCFTA) and fossil fuels remains a very significant part of the energy mix required for industrialising the continent. This was disclosed by Mr Simbi Wabote, the Executive Secretary of the board, during his keynote address at the 9th Anniversary Lecture and Investiture into the Realnews of Fame Hall of Fame in Lagos. Mr Wabote said that revenues obtained from the sale of the hydrocarbon resources would remain “key drivers of the economies

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange witnessed a return to the N1 trillion mark following a 1.61 per cent growth registered on Thursday, August 25. The feat came on the back of gains recorded by the duo of Niger Delta Exploration and Production (NDEP) Plc and FrieslandCampina WAMCO Nigeria Plc. Milk-producing giant, Friesland Plc, added N8.00 or 9.41 per cent to trade at N93.00 per unit versus N85.00 per unit, while the oil and gas investment company, NDEP Plc, grew by N1.67 or 0.88 per cent to close at N192.00 per unit in contrast to the previous