Nigeria Eyes 500,000 Hectares of Irrigated Farmland by 2030

By Adedapo Adesanya  The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has projected that its Industry Sustainability Initiative (NISI) will create over $575 billion in capital investment opportunities for Nigeria through the decarbonisation of operations. According to a statement, NMDPRA, while hosting a session on Nigeria’s Pathway to Energy Sustainability and NMDPRA’s Role at the UN Climate Change Conference 2023 (COP28) in Dubai, UAE, x-rayed Nigeria’s journey towards reducing carbon emission and achieving Net Zero by 2060. Speaking at the event, Mr Mustapha Lamorde, the authority’s Executive Director on Health, Safety, Environment and Community (HSEC), said the investment would be

By Adedapo Adesanya The Naira started the first trading session in the last month of 2023 on a negative note after it depreciated against the Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM), which is the official FX window, by 11.4 per cent or N94.87 on Friday, December 1, closing at N927.19/$1, in contrast to Thursday’s exchange rate of N832.32/$1. The December rush for forex contributed to the weakening of the domestic currency in the spot market yesterday, as the supply of foreign currency could not meet what customers needed. Data showed that the value of FX transactions recorded

By Aduragbemi Omiyale The online stock trading platform of one of the leading brokerage firms in Nigeria, Morgan Capital Securities Limited, i-Trade, has experienced a technical glitch. This technical issue has made it difficult for its clients to carry out transactions on the popular platform. Morgan Capital’s i-Trade platform is popular among retail investors in the Nigerian capital market, especially those trading equities on the floor of the Nigerian Exchange (NGX) Limited, because of its lower fees. The company has already assured its customers that it was working to restore services, providing an alternative to them. “This is to inform

By Dipo Olowookere Profit-taking activities brought back the bears to the floor of the Nigerian Exchange (NGX) Limited on Monday as investors rebalanced their portfolios. It was observed that traders at Customs Street booked profits in shares mostly in the industrial goods sectors like BUA Cement and Lafarge Africa. This resultantly brought down the local stock market by 0.66 per cent at the close of transactions, with the industrial goods space losing 4.21 per cent, the insurance counter declining by 0.28 per cent, and the energy sector falling by 0.01 per cent. However, the consumer goods index improved yesterday by

By Otori Emmanuel What is Skill Gap? The concept of skills gap characterizes the divergence that currently exists in what potential job prospects are required of and what is being offered. Skill Gap Analysis is a method of determining which skills and knowledge gaps exist between the workforce system in Nigeria and its students of higher learning. On a general note, the disparity in skills of a job candidate and what employers demand takes its root from primary through the secondary and higher education system. It is obvious that students are not armed with the skills for real-life experiences but

By Ebitonye Akpodigha President Muhammadu Buhari has been urged to immediately nominate suitably qualified persons to fill the vacant positions at Independent National Electoral Commission (INEC) in line with the Constitution to enhance the capacity of the Commission to conduct conclusive elections. This appeal was made by the Senate at the plenary on Tuesday September 27, 2016. The Senate made the call in a motion sponsored by Senator Ike Ekweremadu, the Deputy Senate President and Senator Ali Ndume, the Senate leader on inclusive elections in the country. The lawmakers noted with deep concern that at least 20 States of the

By Adedapo Adesanya FrieslandCampina WAMCO Nigeria Plc overpowered three price gainers at the NASD Over-the-Counter OTC Securities Exchange on Monday to leave the unlisted securities market bloodied by 0.43 per cent. The loss recorded by the milk maker ensured that the NASD unlisted security index (NSI) further depleted by 3.26 points yesterday to 749.04 points from 752.30 points recorded at the previous session. It also caused the market capitalisation of the exchange to reduce by N2.27 billion to N532.43 billion from N534.70 billion it closed last Friday. Business Post reports that Friesland lost 2.7 per cent or N3.23 during the

By Modupe Gbadeyanka The Central Bank of Nigeria (CBN), as part of its commitment to keep the exchange rate of the Naira and Dollar stable at the foreign exchange (forex) market, started the supply of forex to authorized traders at the market. The first was to make forex readily available to investors as well as exporters of some essential products and materials and it created the Investors and Exporters (I&E) FX window. Thereafter, the apex bank started the regular supply of forex to Bureau De Change Operators (BDCs) and since then, the exchange rate at the commercial banks and BDCs

By Adedapo Adesanya Opera has announced the launch of its dedicated chat service, Hype, built into the Opera Mini mobile web browser, in Nigeria. With the introduction of Hype, Opera is redefining the concept of mobile browsers, providing users with a personalized, engaging browsing experience that enables seamless chatting, surfing and sharing – without compromising speed or driving increased data consumption. Hype is the first African-inspired chat service built into a mobile browser, allowing users to easily set up an account and start chatting with secure end-to-end encryption right away. This means users can now browse the web, chat with

By Investors Hub European stocks have tumbled on Wednesday as investors fret about an escalating trade war between the world’s two largest economies. The U.K.?s FTSE 100 Index, the German DAX Index and the French CAC 40 Index are all down by 1 percent. Indivior shares have fallen sharply in London. The company expects its fiscal 2018 net revenue and adjusted net income to be below previous expectations, because of recent U.S. market developments for SUBOXONE and early uptake levels of SUBLOCADE. Glencore has also moved notably lower on news the commodity trader has set up a board committee to

By Investors Hub The major U.S. index futures are pointing to a pointing to a roughly flat opening on Thursday, suggesting stocks may show a lack of direction in early trading. Traders may be reluctant to make significant moves as they digest the whistleblower complaint that sparked the impeachment inquiry into President Donald Trump. The document outlines concerns about Trump ?using the power of his office to solicit interference from a foreign country in the 2020 U.S. election.? After initially showing a lack of direction, stocks climbed firmly into positive territory over the course of the trading session on Wednesday.

Esteemed Stakeholders, What a year! A year like no other – 2020 was definitively historic and unprecedented. It defied science, challenged rationality, and confronted social norms. COVID-19 shook the world powers, tipped many economies – including our dear Nigeria – into the worst recession in decades, shattered social engagements and affected every facet of life as we knew it. Like a mystery, only to be told in a fiction, oil traded at negative prices, factories shut globally for weeks, and airlines grounded for months. Excitingly, the Nigerian capital market, like a few global peers, remained active through the crisis; many