Market Looks Forward to N136.4b Maturing T-Bills This Week

By Adedapo Adesanya Ultrasonic sensing technology company, Fluenta, has completed work on the Dangote Refinery in Nigeria, Africa’s biggest oil refinery, installing 18 ultrasonic flare gas meters on large pipelines around the plant. This company is using its technology to aid Nigeria’s flare gas reduction efforts and with Dangote Refinery set to begin operations soon, according to its management recently, this could be a step to fix inaccurate measurements of gas flaring. Nigeria currently imports refined petroleum products for its use, even though it is Africa’s biggest oil producer and with Dangote Refinery, the world’s largest single-train refinery capable of

By Adedapo Adesanya Nigeria has repaid a total of $12.56 billion in external debt as of 2022, data from Intelpoint showed. According to the latest debt figures, Nigeria’s total public debt rose by 75.3 per cent to N87.38 trillion at the end of the second quarter of 2023 against N49.85 trillion recorded in the first quarter of the year. The rise came as the country securitised the N22.71 trillion Ways and Means Advances of the Central Bank of Nigeria (CBN) to the federal government. The overdraft is a loan facility through which the CBN finances the shortfalls in the government’s

By Precious Olisa This news may not be palatable to developers and Nigerians planning to start a building project, as the Cement Producers Association of Nigeria has warned that the price of a 50kg bag of cement may start selling for N9,000 when the dry season begins in November. At the moment, the product is sold at over N5,000. In a statement jointly signed on Sunday by the National Chairman of the group, Mr David Iweta, and its National Secretary, Mr Ufomba, the manufacturers said the rise in the price of cement would be caused by the decision of the

By Aduragbemi Omiyale About 2,000 primary school teachers initially seconded to the post-primary Teaching Service Commission (TESCOM) of Oyo State during the administration of late Abiola Ajimobi have now been absorbed by Governor Seyi Makinde. The chairman of TESCOM, Mr Akinade Alamu, during the celebration of 2022 World Teachers’ Day in Ibadan on Wednesday, also stated that the state government has approved the promotion of civil servants in the state. Recall that teachers, who teach in secondary schools across the state, had appealed to the Oyo State Government to either regularise their appointments as TESCOM teachers or revert their appointment

By Dipo Olowookere The government of Akwa-Ibom State has been urged to urgently address the security situation in the Eket area of the state so as not to completely ground business activities in the town. This appeal was made by a group known as the Eket Business Forum on Monday through its leader, Mr Dominion Akpan. Mr Akpan noted that the increasing rate in crime in Eket was already scaring away business owners and potential investors. According to him, the recent abduction of ExxonMobil workers, incessant cultism, protests, and other security concerns has made Akwa Ibom’s second largest city no

By Dipo Olowookere Lagos State government is set to kick-start the State Health Insurance Scheme. Commissioner for Health, Dr Jide Idris, made this disclosure at the annual Ministerial Press Briefing held at the Bagauda Kaltho Press Centre, Alausa, in commemoration of the 2nd anniversary of Governor Akinwunmi Ambode’s administration. Dr Idris explained that this move was in a bid to provide affordable health care and improved health care services in the state. He said Lagos State Health Scheme, signed into law in May 2015, became necessary due to the state’s population and the pressing need to ensure all and sundry

By Adedapo Adesanya  The end of the trading day on Thursday, September 12, 2019, at the foreign exchange market in Nigeria had the local currency closing flat against the Dollar across the various market segments except at the Investors and Exporters (I&E) segment of the market. At the investors’ window, the Naira posted a marginal gain of 4 kobo or 0.01 percent against the greenback as pressure continue to ease on the domestic legal tender. Business Post reports that the local currency was exchanged at the I&E segment yesterday at N361.95 to one American currency in contrast to the N361.99

Every year, about N1.2 billion sports bets are played in Nigeria. Steadily increasing, the amounts bet show a growing interest on the part of all sports enthusiasts. So, can you get rich with sports betting? If you are unsure about starting out then we recommend that you go in with lower stakes – you can deposit £5 and get free spins! Can We Get Rich With Sports Betting If this question may surprise some, it turns out that the reality on the ground gives rise to reflection: with steadily increasing bets and ever more professional bettors, sports betting is attractive,

By Dipo Olowookere The Nigerian stock market has started to gain the confidence of investors and this may have been boosted by the decision of the Central Bank of Nigeria (CBN) to retain the interest rate at 11.50 per cent on Tuesday. At the market on Wednesday, the Nigerian Exchange (NGX) Limited appreciated by 1.29 per cent on the back of interest in the shares of Airtel Africa Plc. According to the trading data analysed by Business Post, the All-Share Index (ASI) closed at a 13-year high of 46,529.99 points after it added 590.48 points to its previous value of

By Ahmed Rahma Africa has stressed the need for investors in the United Kingdom to consider investment in large-scale electrification projects on the continent because they (projects) would helpful and significantly drive post-COVID-19 growth recovery and economic prosperity. On Wednesday, the UK Africa Investment summit was held virtually and had in attendance major stakeholders, including experts, who spoke on the theme UK & Africa: Partnering in Sustainable and Resilient Infrastructure Development. The panellists submitted that a stronger partnership between the UK and Africa would benefit both parties, especially in terms of economy. Speaking at the event, the CEO of UK

By Aduragbemi Omiyale Fund managers have been warned against holding clients’ funds and securities as this act is illegal and in violation of the Consolidated Rule 95 (1-2) of the Securities and Exchange Commission (SEC). The Director-General of SEC, Mr Lamido Yuguda, while addressing reporters after the last Capital Market Committee (CMC) meeting of the year, said any fund manager found doing this would be made to face the full wrath of the apex regulator in the Nigerian capital market. At the meeting held in Lagos over the weekend, he reminded fund managers that all funds and securities of clients