Nigeria’s Crude Oil Production Slides 0.7% to 1.417mb/d

By Dipo Olowookere The domestic currency had a breather in the peer-to-peer (P2P) and the parallel market segments of the foreign exchange (FX) market on Wednesday, with its value strengthening against the Dollar at the two windows. This was supported by the ease in the forex demand pressure during the trading session, which had the official market, the Investors and Exporters (I&E) arm of the market, non-operational yesterday due to the public holiday observed in the country for Eid el Maulud. Many customers who may have needed FX for their transactions stayed back to enjoy the work-free day, easing off

For maritime businesses, the stakes are high, and the seas can be unpredictable. Whether you own a shipping fleet, operate a fishing company, or oversee marine logistics, safeguarding your assets with the right marine insurance is prudent. It’s also essential for the sustainability of your enterprise. Here are some tips for how to find the best marine insurance provider. By following these strategic steps, you can ensure your business remains afloat, even in the face of unforeseen challenges. 1. Assess Your Maritime Needs The first crucial step towards securing the ideal marine insurance provider is a comprehensive assessment of your

By Aduragbemi Omiyale The Vice President, Mr Kashim Shettima, has said Nigeria is in dire need of foreign direct investment (FDI) more than ever before, tasking domestic and foreign investors to make Nigeria their investment hub because efforts are being made to formulate business-friendly policies. Mr Shettima, while speaking when he hosted the management of First Surat Group, as well as top management of MTN Nigeria at the presidential villa in Abuja, charged MTN Nigeria to facilitate and spearhead digital mobile money and digital education. He assured that President Bola Tinubu was willing to partner with various stakeholders in the

By Adedapo Adesanya Oil prices weakened further by more than 2 per cent on Wednesday, compounding more worries for the global market due to a sour outlook for fuel demand as COVID-19 cases surge worldwide, outweighing a fall in crude inventories. Yesterday, the Brent crude oil futures went down by $1.59 or 2.3 per cent to $67.44 per barrel, while the West Texas Intermediate (WTI) crude oil futures lost $2.04 or 3.06 per cent to trade at $64.53 per barrel. Both benchmarks have been under pressure for the last few weeks due to the rise in infections caused by the

By Modupe Gbadeyanka The African Students Union Parliament (ASUP) has appealed to the Oyo State Government to include Fight Against Drugs in its school curriculum. The Speaker of the Parliament, Mr Kewul Abel, from University of Professional Studies, Accra, Ghana, made this appeal when the group paid a visit to the Executive Chairman of the Oyo State Universal Basic Education Board (Oyo SUBEB), Mr Nureni Adeniran, a few days ago. Mr Abel promised that the organisation would join forces with the government to successfully curtail the drug menace in the state and the African continent at large. He said the

By Adedapo Adesanya The Nigerian power industry has achieved an improved all-time national peak of 5,420.30 megawatts (MW) which was effectively transmitted through the national grid at a frequency of 50.10 hertz (Hz) at 9:15 pm on Tuesday, August 18, 2020. According to the Transmission Commission of Nigeria (TCN), this is the highest ever recorded in the nation’s power sector to-date, surpassing the previous peak of 5,377.80 MW recorded on August 1, 2020, by 42.50MW. The improvement in electricity delivery in the nation’s power sector is attributable to the collective effort of all sector players in the value chain. However,

By Adedapo Adesanya The African Development Bank (AfDB) and the Bank of Central African States (BEAC) have signed a grant agreement to support a project for a unified financial market of the Economic and Monetary Community of Central Africa (CEMAC). The deal, which was signed recently, is made up of $994,638 from the African Private Sector Assistance Fund (FAPA), funded by Japan and Austria and hosted at the AfDB. It is in addition to resources already released by the bank in support of the regional financial market. The resources are the technical assistance approved by the lender in 2019 to

By Nneka Okumazie There is a chance that the coronavirus is also a warning to churches and Christians. It is possible to watch how the COVID-19 roils the health system, the scientific community, the economy, etc. but to forget that church gatherings – where Jesus is in the midst – cannot hold. Worship matters to God and the word of God in an assembly, but church is not possible – for now. Coronavirus is a reminder that being able to gather in church is such a privilege. The thanksgiving should be ceaseless. Many lose track of the reason or meaning

By Modupe Gbadeyanka As part of its contribution to nutritional development and provision of a new cooking experience, Eazy Coox has introduced four essential ready to use ingredients. The food condiments come in sealed earth friendly glass jars of Chopped Garlic, Chopped Ginger, Chopped Scotch Bonnet and Chopped Habanero Chilli; all in 190g size packages. Eazy Coox’s mission is to help several upwardly mobile individuals, modern day women and families solve their cooking challenges with the provision of ready to use condiments. The products which come in hygienic glass jars are peeled, chopped and preserved in either white wine vinegar

By Dipo Olowookere A total of $22.58 million has been approved for disbursement for the Republic of Benin by the executive board of the International Monetary Fund (IMF). Also, the board approved the tiny West African nation’s request to set program conditionality for 2018, and to modify the end-December 2017 performance criteria. These approvals followed the completion of the first review of the arrangement under the Extended Credit Facility (ECF) for Benin. Benin’s three-year arrangement for $158.1 million or 90 percent of its quota at the time of approval of the arrangement was approved on April 7, 2017 and it

By Kester Kenn Klomegah On November 23, Russian Senators, Academicians, Researchers and Experts gathered to discuss the export of non-commodities to Africa at the interactive webinar, organized by Federation Council of Russia, Chamber of Commerce and Industry of Russia, and Business Russia Association. According to the organizers, the meeting was to identify funding for exports, to concretize proposals for increasing exports to Africa and to facilitate amendments to the Russian legislation if required to promote exports to the African market. Senator Igor Morozov, a member of the Federation Council Committee on Economic Policy, also the Chairman of the Coordinating Committee