Nigeria’s Inflation Rises to 11.28% in September

By Dipo Olowookere Local equities rebounded by 0.34 per cent on Wednesday on the back of buying pressure on a few energy stocks and others at the Nigerian Exchange (NGX) Limited. According to data from the bourse, the bullish stance was attained despite profit-taking activities in the banking space amid plans by the Central Bank of Nigeria (CBN) to recapitalise the industry, leaving the market breadth index negative. This was because the number of price losers was more than the price gainers at 39 and 19 apiece, indicating a weak investor sentiment. Business Post reports that the energy counter grew

By Adedapo Adesanya Equinor and Chappal Energies have entered into an agreement for the sale of Equinor Nigeria Energy Company (ENEC), which holds a 53.85 per cent ownership in oil and gas lease OML 128, including the unitized 20.21 per cent stake in the Agbami oil field, operated by Chevron. Speaking on the deal, Equinor’s senior vice president for Africa Operations, Ms Nina Koch, said Nigeria has been an important part of Equinor’s international portfolio over the past 30 years, noting that, “This transaction realizes value and is in line with Equinor’s strategy to optimize its international oil and gas

By Adedapo Adesanya  Oil prices rose by more than $1 a barrel on Wednesday as investors focused their attention on an upcoming OPEC+ output policy meeting and looked past a jump in crude stockpiles in the United States. Brent crude futures were up by $1.01 or 1.2 per cent to $82.69 per barrel, and the US West Texas Intermediate (WTI) crude futures gained $1.16 or 1.5 per cent to close at $77.57 a barrel. Prices were lifted by a media report that the Organisation of the Petroleum Exporting Countries and allies such as Russia, known collectively as OPEC+, was considering

Curious about knowing someone’s location? If so, then you are in the exact place to determine. We will present the best apps to track a cell phone’s location in 2021. It is not such a complicated task as it seems. Once you have a reliable application, half of your concern is off your shoulders. We are quite confident that by the end of this article, you will have the application you wish to spy with. Just stick to this article without skipping any part, and you will also know how these applications work. Spyier The application of ages is Spyier.

By Dipo Olowookere Nigeria’s Vice President, Mr Yemi Osinbajo, on Tuesday, November 14, 2017, held a meeting with the team of MasterCard executives led by its president and CEO, Mr Ajay Banga, at the State House in Abuja. During the meeting, both parties discussed the importance of developing a digital framework for Nigeria to support the country’s ongoing transformation, ensuring the development of a more inclusive economy. Mr Osinbajo recognised the critical role of technology in driving Nigeria’s development to help enable the country to benefit from the expansion of consumer and business spend as cities become hubs for commerce.

By Adedapo Adesanya  Oil prices rose on Friday as the Organization of the Petroleum Exporting Countries (OPEC) and its allies agreed to deepen output cuts to 500,000 additional barrels per day as the two-day meeting concluded in Vienna, Austria on Friday. This new deal reached means the production cut will move from 1.2 million to 1.7 million less production per day. On the back of this, the international oil benchmark, the Brent crude futures, traded up at $64.36 per barrel after gaining 97 Cents or 1.53 percent, while the WTI crude rose by 72 cents equivalent to 1.23 percent to

By Kestér Kenn Klomegâh Russia and African parliamentarians continue forging solidarity against growing neo-colonial tendencies in Africa. The parliamentarians, far ahead of their symbolic gathering, have intensified political dialogue and support for Russia’s war on neighbouring Ukraine and further expressed readiness to support Africa’s economic development. Russia has come under stringent economic sanctions from the United States and Europe due to the ‘special military operation’ that it began in February 2022, more than a year that has adversely affected Africa. It has also divided Africa’s voting at the United Nations, with some experts arguing that such sharp divisions, in terms

By Adedapo Adesanya The Nigeria Customs Service (NCS) generated N1.003 trillion as revenue in the first six months of 2021, 40.6 per cent higher than what it generated in the same period of 2020. This was disclosed by the Customs Public Relations Officer, Mr Joseph Attah, while addressing newsmen in Abuja on Thursday, July 8. He said the amount was realised from January to June 2021, adding that this was higher than the N713.5 billion generated within the same period in 2020 by N290.2 billion. “Hitting the trillion-Naira mark within six months is unprecedented in the service. “This feat is

By Dipo Olowookere The management of Saint-Gobain has announced acquiring Spin-Works International Corporation, an innovative manufacturer of 3D-printed and extruded silicon carbide ceramic components that improve energy efficiency, recover waste heat and reduce emissions for customers in a wide range of high-temperature industrial processes. According to Saint-Gobain’s High-Performance Refractories, this acquisition is mainly to help its customers’ processes more sustainable—especially in the steel and automotive businesses. Spin-Works is based in Northeast, Pennsylvania (near Erie), and has approximately 20 employees. Saint-Gobain High-Performance Refractories is a global leader in ceramic and refractory solutions, with 14 manufacturing facilities throughout the world, including a

By Modupe Gbadeyanka The Federal Airports Authority of Nigeria (FAAN) has reacted to video making the rounds on social media on a leaking roof at the Murtala Muhammad International Airport (MMIA) in Lagos. A statement signed yesterday by the Acting General Manager in charge of Corporate Affairs at FAAN, Mrs Henrietta Yakubu, explained that “the leaking roof was a result of the on-going works at the MMIA, Lagos.” She described insinuations that leak was as a result of the deplorable condition of facilities at the airport as totally untrue. The FAAN spokesperson said the “malicious” video clip was “targeted to

By Modupe Gbadeyanka The United Nations (UN) has condemned the “unauthorized search” of its base for humanitarian workers in Maiduguri, Borno State by the Nigerian Army last week. In a statement issued by the global body, it said the military’s action could be “detrimental to the critical work” being carried out every day to support the most vulnerable in the north-east region of Nigeria caused by Boko Haram crisis. The Humanitarian Coordinator for Nigeria, Mr Edward Kallon, has said the UN does not have any information at this time regarding the reason or motivations for the unauthorized search. However, Mr