Nigeria’s Unlisted Securities Market Opens Week Bearish

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 federal government, through the Nigerian Ports Authority (NPA), has announced plans to invest $1.1 billion to fully rehabilitate decaying port infrastructure at TinCan, Apapa, Rivers, Delta, Calabar, and Onne ports as part of efforts to improve the efficiency of the nation’s existing ports. Out of the estimated 47,000 kilometres of coastline in Africa, Nigeria makes up about 853 kilometres, creating the perfect opportunity to get access to its much-needed revenue. This coastline and a 200 nautical mile exclusive economic zone make up Nigeria’s coastline in the Gulf of Guinea. The coastline equals a maritime area of

By Adedapo Adesanya The federal government has set plans in motion to raise $200 million from philanthropic individuals and organisations as part of efforts to create jobs and support Micro, Small, and Medium Enterprises (MSMEs) in Nigeria. Nigeria is home to over 36.9 million MSMEs, comprising 96.7 per cent of all businesses in Nigeria. According to data, 67 per cent of these businesses are youth-owned. MSMEs contribute over 45 per cent to the country’s gross domestic product (GDP), with 98.8 per cent of them in the micro cadre. They account for nearly 90 per cent of the jobs in the

By Dipo Olowookere The positive momentum witnessed at the Nigerian Exchange (NGX) Limited continued on Monday with a 0.17 per cent leap at the close of business. Buying pressure, particularly in a few blue-chip equities, kept the bulls at Customs Street during the trading session, though the consumer goods space succumbed to profit-taking by 0.99 per cent. But hope was kept alive by the gains reported by the other key sectors of the market, with the banking counter growing by 1.71 per cent, and the industrial goods index appreciating by 0.01 per cent, while the insurance and energy sectors remained

By Dipo Olowookere The Nigerian Stock Exchange (NSE) further closed bearish on Thursday as stocks in the banking and industrial goods sectors dragged the market lower by 0.06 percent. The bearish closure yesterday occurred despite the market breadth ending positive for the second consecutive day as a total of 11 equities recorded gains compared with the eight price losers. GTBank was the day’s highest price loser. The lender had its stocks losing 35 kobo each to close at N26.65 per share despite the firm churning out a positive Q3 earnings on Wednesday. Dangote Flour went down by 20 kobo to

By Sodeinde Temidayo David The Lagos State Government has disclosed that it plans to set up a medical park along Awolowo Road, Ikoyi, as part of initiatives to reform the health sector in the state and build facilities that meet global standards. It was stated that the facility will cover 2,175 hectares of land in the area and would be executed by the Office of Public-Private Partnerships (OPPP) in conjunction with the Lagos Ministry of Health. The Director-General of the OPPP, Mr Ope George, said the identified portion of land used to house the School of Nursing but would be

By Dipo Olowookere The ‘big five’ banks in Nigeria; First Bank, UBA, GTBank, Access Bank and Zenith Bank under the nickname FUGAZ, generated nearly N2 trillion (precisely N1.979 trillion) as revenue in the first nine months of 2017 compared with N1.338 trillion they achieved in the corresponding period of 2016. This is according to the Q3 financial statements released by the lenders last month to the Nigerian Stock Exchange (NSE) for the period ended September 30, 2017, which was analysed by Business Post Nigeria. From the analysis, Zenith Bank raked the highest figure during the period under review, N531.226 billion

By Gift Okafor Public relations (PR) is a critical component of any organization’s success. A well-executed PR strategy can help build brand awareness, increase credibility, and drive business growth. However, measuring the impact of your PR efforts can be challenging. Without proper measurement and evaluation, it is difficult to determine the ROI of your PR activities. In this blog post, we will discuss the importance of PR measurement and evaluation and how it can help you understand the impact of your efforts. Why PR Measurement and Evaluation is Important In today’s fast-paced digital world, public relations (PR) has become an

By Modupe Gbadeyanka According to a market research report titled ‘Africa Dairy Products Market Outlook to 2020 – Inclining Demand for Yoghurt and Ice Cream across Africa to Boost Dairy Product Market’ by Ken Research. Growing purchasing power parity and gross domestic product (GDP) of various African countries which majorly include Uganda, Sudan, and Kenya are the major factors which have driven the market for dairy products in Africa. However, declining annual per capita consumption of dairy products which majorly includes milk powder, butter, and cheese in other major economies of the continent including South Africa, Nigeria, Tanzania, Ethiopia, and

By Adedapo Adesanya The week opened with the bull returning to the floor of the NASD Over-the-Counter (OTC) Securities Exchange on Monday with a marginal 0.04 per cent rise. The day’s favourable outcome came as two companies – Central Securities Clearing Systems (CSCS) Plc and Nigerian Exchange Group Plc – made gains. As a result of the growth printed by the market bellwethers, the NASD unlisted security index (NSI) moved up by 0.30 points to 745.66 points from 745.36 points, while the market capitalisation of the NASD Exchange rose by N260 million to N648.11 billion from N647.852 billion. Business Post

By Adeniyi Ogunfowoke It is never easy to start a business especially in this economic situation in Nigeria. It is even more demanding and difficult for those who are working and also running a side business. But you have no choice than to have a side business. If not for anything but to diversify your sources of income. So, you should know that you can successfully run your business while being employed. You don’t have to leave your job. Jumia Travel shares tips on how to pull this off. Ensure they don’t clash No matter how demanding and exerting your

By Dipo Olowookere Trading activities on the floor of the Nigerian Stock Exchange (NSE) finished bearish on Wednesday after the market was subjected to selling pressure by profit takers. The decision of some investors to take profit at yesterday’s session led to the 0.97 percent loss posted at the close of business, putting a pause to the two consecutive gains this week and extending the year-to-date loss to 13.08 percent. Business Post reports that apart from the industrial sector, which rose by 0.29 percent, every other sector closed in the red territory, with the consumer goods index leading the pack