NASD OTC Exchange Sustains Growth by 0.11%

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 A hybrid solar power solutions provider, Daystar Power, has signed an agreement with Nigerian Breweries to install and operate a 4.2MWp solar plant and 2MWh battery storage system that will help the firm reduce its high energy costs. The installation will be one of the largest solar and battery storage projects for an industrial manufacturer in Nigeria. The hybrid solar solution will generate 5,249 MWh of electricity – 42 per cent of its daytime power consumption – every year at Nigerian Breweries’ Lagos brewery. According to a statement, the integration of solar into the factory’s energy mix

By Dipo Olowookere The last trading day of November 2023 on the floor of the Nigerian Exchange (NGX) Limited ended on a bullish note by 0.11 per cent on Thursday. Mild bargain-hunting in industrial goods equities like Lafarge Africa, supported by Airtel Africa, GTCO and other financial stocks left the market in the green territory at the close of business. Consequently, the All-Share Index (ASI) increased by 81.91 points to settle at 71,365.25 points compared with the preceding day’s 71,283.34 points, and the market capitalisation grew by N44 billion to N39.052 trillion from N39.008 trillion. Business Post reports that the

By Adedapo Adesanya Crude oil prices fell on Thursday members of the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) agreed to voluntary output cuts for the first quarter of next year, falling short of market expectations. As a result, Brent crude futures lost 27 cents or 0.3 per cent to close at $82.83 per barrel, and the US West Texas Intermediate (WTI) crude futures went down by $1.90 or 2.4 per cent to $75.96 a barrel. On a monthly basis, Brent fell by 5.2 per cent while WTI was down by 6.2 per cent. Saudi Arabia, Russia

By Modupe Gbadeyanka Ahead of its brand refresh, foremost Nigerian life insurance specialist company, African Alliance Insurance Plc, has moved its headquarters from its former Marina location to the heart of Ikoyi in Lagos State. It was gathered that the decision to move the insurer’s headquarters to Ikoyi was propelled by the pressing need for business expansion and re-positioning the brand for success in the 21st century. It is one of the many activities that would follow in the last quarter of the year as the company rolls out its newly refreshed look and activities. Information at our disposal disclosed

By Modupe Gbadeyanka Boosting intra-African trade is the most effective channel for trade to deliver development on the African continent, Economic Commission for Africa’s Capacity Development Division (CDD) Director, Mr Stephen Karingi has submitted, adding that deeper trade integration was the surest way to speed up Africa’s economic transformation. Mr Karingi made this submission at the Aid for Trade Global Review 2017, which opened at the World Trade Organisation (WTO) headquarters in Geneva. “Trade contributes towards industrialization and structural transformation. Intra-African trade currently stands at a mere 13 percent of the continent’s total trade, which is very low. “As the

By Dipo Olowookere Former Commissioner of Police in Lagos and Benue States, Mr Fatai Owoseni, has disclosed that what an average police station in Nigeria gets as allocation per quarter for its operations is not more than N30,000, amounting to N10,000 a month. Mr Owoseni, who retired from the police force in December 2018, made this disclosure in the early hours of Monday, February 25, 2019. The retired cop was a guest on Channels Television’s popular election programme, The Verdict, which was monitored by Business Post. Speaking on the pathetic nature of things at the security agency, the former Commissioner

By Taiwo Omilani Secretary-General of Association of Senior Civil Servants of Nigeria (ASCSN), Comrade Alade Bashir Lawal, has disclosed that the committee set up by federal government to deliberate on agreeable minimum wage for Nigerian workers will submit its report next week. Comrade Lawal made this disclosure to Business Post‘s reporter in an interview last week while reacting to labour-related matters. The labour union leader said the technical committee inaugurated by the government would submit their report in order to allow the National Assembly debate over it. When asked if the report would not be delayed by the lawmakers especially

By Modupe Gbadeyanka An optometry clinic based in Lagos, SpecSMART, has promised its customers world-class eye care services that can match the best across the globe. The Practice Head and Medical Director of the firm, Dr Clarence Nwokocha, while speaking at the opening of the facility, stated that patients should be assured of high-quality primary eye care, premium quality frames, lens variants, and contact lenses fitting, and optical/ophthalmic services. According to the medical practitioner, quality eye care is one of the key areas of healthcare and the gap in the services has prompted the launch of the first-class clinic which

By Modupe Gbadeyanka **Says Income Levels Down 30% The income levels of consumers in Nigeria are down by an average of 30 percent since March 2020, while job opportunities are fast disappearing, a survey has revealed. The study conducted by REACH Technologies, a Nigeria-based fintech, on behalf of FBNQuest, corroborates findings from the National Bureau of Statistics (NBS) COVID impact survey that consumers have fallen on harder times. Another sticking point is that consumption of non-essentials has been cut drastically, with respondents stating that they have reduced spending on higher value category items by about 22 percent since about three

By Aduragbemi Omiyale A provisional licence has been issued by the federal government for the operation of the proposed inland dry port (IDP) in Edo State. The facility, which will be managed by Atlantique Marine and Engineering Services (AMES) Limited, is to be called the AMES Edo Inland Dry Port. The Edo State government will also be part of the operators. The integrated dry port will have two Truck Transit Parks (TTP) infrastructure strategically located at the Benin Bypass in Edo South and at Aviele in Edo North. Recently, officials of the Federal Ministry of Transportation and the Nigerian Shippers’

By Dipo Olowookere Nearly 630 million years of healthy life were lost in 2015 due to the diseases afflicting the population across 47 African countries, now amounting to a loss of more than $2.4 trillion from the region’s gross domestic product value annually, the World Health Organization (WHO) has said. Five countries (the Democratic Republic of the Congo, Ethiopia, Nigeria, South Africa and the United Republic of Tanzania) accounted for almost 50 percent of the total years lost in healthy life (or DALYs) accrued in the WHO African Region. In a statement released recently, the global health agency said non-communicable