What Nigerians Must Consider Before Investing in Bitcoin—Olaoye

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 Modupe Gbadeyanka Strong inflationary pressures in November further negatively impacted companies in Nigeria, with new orders and output both falling as customers were either reluctant or unable to pay higher charges. Purchase prices rose at the fastest pace in almost two years amid exchange rate weakness and higher costs for fuel and materials. According to the latest Purchasing Managers’ Index (PMI) from Stanbic IBTC, business conditions remained under pressure, scoring 48.0 points last month compared with the 49.1 points it garnered in October 2023. Readings above 50.0 signal an improvement in business conditions, while readings below 50.0 show deterioration.

By Adedapo Adesanya The Nigeria Labour Congress (NLC) has said it would ensure that the next national minimum wage to be negotiated in 2024 reflects the prevailing cost of living. The union also lamented that following the removal of fuel subsidy by the federal government, life has become extremely unbearable for workers. Addressing participants at the opening of the 19th edition of the NLC’s Harmattan School in Abuja, President of the NLC, Mr Joe Ajaero, said it had become necessary for governments at all levels to recognise that life and living conditions were exceedingly difficult, especially for working people in

By Adedapo Adesanya The Nigerian Shippers’ Council (NSC) has expressed its readiness to partner with the Lekki Deep Seaport by promoting the seamless movement of cargo and the efficiency of the nation’s ports. The NSC Executive Secretary, Mr Pius Akutah, gave the assurance when the Managing Director, Lekki Port LFTZ Enterprise Limited (LPLEL) – promoters of Lekki Deep Seaport, Mr Du Ruogang, led the port’s management on a courtesy visit to the NSC in Lagos. Mr Akutah, who commended the Lekki Deep Seaport management for the visit, said the council would partner with the port in areas that would boost

By Sodeinde Temidayo David The fourth edition of the International Conference on Safe School Declaration (ICSSD) will hold in Nigeria, the federal government has confirmed. This is the first time the event will take place in Africa and it is coming at a time Nigeria is working tirelessly to tackle the incessant kidnapping of schoolchildren by terrorists in the northern part of the country. It was gathered that other 112 members of the group will converge on Nigeria for the event to exchange experiences, learning, and present their strategies, progress, as well as challenges in making the commitment to safe

By Adedapo Adesanya Brent crude hit $104.09 per barrel on Monday after it surged by $2.98 or 3.1 per cent as supply took center stage on the market with the potential of new production cuts getting support and deadly clashes in Libya which renewed concerns about Libyan oil exports. Also, the price of the United States West Texas Intermediate (WTI) crude gained $3.95 or 4.2 per cent to sell at $97.01 per barrel. Last week, the Brent found its way back to the $100 mark and has traded above that threshold for most of the past five days after Saudi

By Modupe Gbadeyanka Subscription for the Exchange Traded Funds (ETFs) of Meristem Securities Limited has been extended by the management. Deadline for the exercise was shifted forward obtaining approval from the Securities and Exchange Commission (SEC), Business Post learned. The reason for the extension, we further gathered, was because of the disruption caused by the Coronavirus disease (COVID-19) pandemic in the country and the globe. Meristem is offering for sale two EFTs; the Meristem Value Exchange Traded Fund and the Meristem Growth Exchange Traded Fund. From a notice obtained by Business Post, the management said it has secured SEC’s authorisation

By Dipo Olowookere The laboratory centre of the Standard Organisation of Nigeria (SON) in the Ogba area of Lagos State should begin full operations by March this year. Chairman of the House of Representative Committee on Industry, Mr Abubakar Moriki, made this known when his 8-man team inspected the project, which is 95 percent completed. Touring the four-storey complex, which includes refrigerator testing chamber, food microbiology, food data processing unit, among others, the lawmaker said full operation should begin by March. He commended the spate of construction and equipping, noting that observation of the laboratory complex will form the basis

By Dipo Olowookere Africa’s richest man, Mr Aliko Dangote, received a good birthday present on his 62nd birthday on Wednesday, April 10, 2019, when one of his companies, Dangote Cement, led the gainers’ chart on the Nigerian Stock Exchange (NSE) today. Dangote Cement stock gained N1 at the close of the midweek trading session to settle at N186 per unit, lifting the local bourse from the dungeon. It was the first time the equities market was closing bullish this week after investors had longed for that positive development that will trigger bargain hunting. Business Post reports that the stock market

By Dipo Olowookere The domestication of and strict implementation of the Child Rights Act (CRA) across the country has been advocated for by the Senate President, Mr Bukola Saraki and a group of Civil Society Organization (CSOs). Speaking at a roundtable on ‘Advancing the Rights of the Nigerian Child’ organized by the Office of the Senate President in commemoration of the 2017 Children’s Day celebration in Abuja, Mr Saraki lamented that out of every five children, two currently live in poverty, millions in poor housing, crowded rooms, squalid conditions, on streets and affected by communal conflicts and insurgency. He argued

By Adedapo Adesanya The Lagos State Government has eased restrictions placed on activities within the events and hospitality sector, meaning clubs, event centres, hotels among others can now operate with the backing of the government. Prior to this, Business Post understands that clubs in the metropolis have been operating with event centres hosting weddings and other ceremonies, albeit with restrictions. The new directive was disclosed by the Lagos State Governor, Mr Babajide Sanwo-Olu, in a statement via his official Twitter account on Saturday, April 10. According to Mr Sanwo-Olu, the decision is being carried out to boost economic activities within