Nigeria To Develop National Irrigation Programme

By Adedapo Adesanya  Angola, one of Africa’s top crude oil producers and a key member of the Organisation of the Petroleum Exporting Countries (OPEC), has officially rejected the proposed production quota for the year 2024 and may even exit the group. This was signalled by Mr Diamantino Pedro Azevedo, Angola’s Minister of Energy and Mineral Resources, confirming the nation’s decision and indicating a divergence from OPEC’s suggested allocations for both member and non-member countries. The announcement was made during the 26th OPEC+ Meeting on Thursday, where the organisation proposed 1.11 million barrels of crude oil per day production quota for

By Dipo Olowookere In one week, investors bought and sold 2.543 billion shares worth N38.644 billion in 36,138 deals on the floor of the Nigerian Exchange (NGX) Limited. In the preceding trading week, a total of 2.425 billion shares valued at N22.665 billion were transacted by investors in 33,230 deals. It was observed that financial stocks led the activity chart as usual with 1.721 billion units worth N18.281 billion in 17,151 deals, contributing 67.68 per cent and 47.30 per cent to the total trading volume and value, respectively. Conglomerates equities trailed with 200.584 million units valued at N1.546 billion in

By Adedapo Adesanya The trio of Newrest Asl Plc, FrieslandCampina Wamco Nigeria Plc, and Acorn Petroleum Plc made the NASD Over-the-Counter (OTC) Securities Exchange appreciate by 0.14 per cent on Friday, December 1. The three gainers pressed down the 8 Kobo loss reported by UBN Property Plc, which closed the trading session at N1.52 per unit compared with the preceding day’s value of N1.60 per unit. During the trading day, Newrest Plc gained N1.46 to close at N16.10 per share compared with Thursday’s closing price of N14.64 per share, FrieslandCampina Wamco Plc moved up by 60 Kobo to end the

By Adedapo Adesanya The return of the bears was averted at the NASD Over-the-Counter (OTC) Securities Exchange on Thursday by Central Securities Clearing System (CSCS) Plc, which helped the alternative bourse close marginally higher by 0.03 per cent. This slight growth increased the value of the OTC exchange by N380 million, closing relatively flat at N1.165 trillion, as the NASD Unlisted Security Index (NSI) increased by 0.27 points to end the day at 859.58 points compared with the previous day’s 859.31 points. During the trading day, the value of CSCS Plc went up by 8 Kobo to settle at N17.08

By Modupe Gbadeyanka Leading Nigerian indigenous oil and gas company, Seplat, listed on both the Nigerian Stock Exchange (NSE) and the London Stock Exchange (LSE), has announced its full year 2016 financial results and provides and operational update. In the financial statements, it was disclosed that results were impacted by force majeure at Forcados terminal with net working interest production at 25,877 boepd. The firm said its revenue for the year suffered a 55 percent loss in 2016 to N63 billion versus N113 billion posted in the corresponding period of 2015. Also, Seplat realised a gross profit of N16 billion

By Ephraim Okwuosa The recent initiative of the Delta State Governor, Dr Ifeanyi Okowa, in requesting the company of immediate past President Goodluck Jonathan for a joint visit to Gbaramatu kingdom in the oil producing area of Niger Delta in pursuit of peace, is clear demonstration that a new wave of patriotic support has emerged to boost the on-going efforts of the President Buhari’s leadership to restore peace in the Niger Delta region. Governor Ifeanyi Okowa’s role as a new dove in the Niger Delta crisis despite his contrasting partisan interest with the Nigeria’s ruling government of President Buhari is

By Adedapo Adesanya  Oil prices fell on Friday as the release of some hostages in Gaza reduced the geopolitical risk premium and indicated that the Israel-Hamas tensions may not have much effect on the oil market. Brent crude futures depreciated by 84 cents or 1 per cent at $80.58 a barrel, while the US West Texas Intermediate (WTI) crude dropped $1.56 or 2 per cent to close at $75.54. There was no settlement for WTI on Thursday owing to the US Thanksgiving holiday. Prices notched their first week of gains in over a month ahead of next week’s meeting of

By Adedapo Adesanya The 46th week of trading in 2022 at the NASD Over-the-Counter (OTC) Securities Exchange was bearish as the bourse depreciated week-on-week by 0.45 per cent. This resulted in the N4.18 billion loss reported by investors at NASD Exchange in the five-day trading week, with the total value of the market declining to N935.07 trillion from N939.25 billion in Week 45. In the same vein, the NASD securities index went down by 3.19 points to close at 711.61 points, in contrast to the 714.80 points achieved in the preceding week. The negative outcome for the week came despite the

By Adedapo Adesanya  On Tuesday, May 18, 2021, the shareholders of Central Securities Clearing Systems (CSCS) Plc gather for the company’s 27th Annual General Meeting (AGM). At the meeting scheduled to hold at the Radisson Blu Hotel on Ozumba Mbadiwe Street, Victoria Island, Lagos, at 10:00 am, the shareholders would be required to authorise the board to pay a dividend of N1.17 per share. If approved, the bank accounts of the qualified investors would be credited on the same day, according to a notice sent to the NASD Over-the-Counter (OTC) Securities Exchange and seen by Business Post. The qualification date

By Adedapo Adesanya Oil prices fell on Tuesday amid growing worries that new coronavirus cases could slow demand, offsetting supply concerns after the United States and Europe planned to impose new sanctions on Russia. Brent crude fell 1.92 per cent or $2.06 to close at $105.5 per barrel, while the US West Texas Intermediate (WTI) traded 2.39 per cent or $2.47 lower to $100.8 a barrel. The market reaction came after Chinese authorities extended a lockdown in Shanghai to cover all of the financial centre’s 26 million people. Initially, there had been separate measures for the eastern and western sides,

By Aduragbemi Omiyale On Thursday, May 27, 2021, the shareholders of Stanbic IBTC Holdings PLC will gather for the company’s Annual General Meeting (AGM). The meeting is slated for 10am at the I.B.T.C. Place on Walter Carrington Crescent, Victoria Island, Lagos and it is by proxy, in line with the coronavirus safety protocols set by the federal government. However, members entitled to vote were advised to appoint proxies to represent them at the gathering, a statement issued by the subsidiary of Standard Bank Group, disclosed. The statement signed by the company’s secretary, Chidi Okezie, further said at the 9th Stanbic

What are Digital Assets? Digital assets are simply items whose content is stored in electronic format. With that definition, you would most likely be thinking about images, music, movies, documents, etc. The truth is, those indeed are digital assets. Thanks to technology, these assets have developed far beyond that, and are also digital currencies. What Are The Types of Digital Assets? Based on this article, I would be focusing on two major types of digital assets which serve as a source of money. Gift cards and cryptocurrencies. Gift Cards Gift cards or gift certificates are a type of debit card,