NNPC Assures Airline Operators Three Months Supply of Aviation Fuel

By Modupe Gbadeyanka Nigeria’s business activity improved in September despite cost pressures limiting demand, according to the latest Purchasing Managers’ Index (PMI) released by Stanbic IBTC Bank Plc. The lender said in the period under review, the private sector had a reading of 51.1 points compared with the 50.2 points achieved in August 2023. It was the rise in business activity in the country was influenced by the growth in order, though the rates of expansion in each were only modest. New orders increased for the sixth month running in September as some firms signalled an improvement in demand. While

By Aduragbemi Omiyale The management of BUA Cement Plc has announced a reduction in the prices of its cement from its factory without the transportation costs to N3,500 per bag (50kg). The cement maker confirmed this development in a statement issued on Sunday, noting that it was part of efforts to make sure customers get the products at cheaper prices. In the statement, BUA Cement disclosed that the slash in cement prices is from Monday, October 2, 2023, urging its distributors not to fleet the end users. The firm said, “All pending, undelivered orders which had been paid for at

By Bliss Okperan A lady who reviewed a product of Erisco Foods Limited, Nagiko Tomato Mix, Mrs Chioma Egodi, has threatened to demand the sum of N500 million from the chief executive of the company, Mr Eric Umeofia, for violating her fundamental human rights. Mrs Egodi said she purchased the product at the market with the intention of using it to cook stew for her family. However, when she tasted it, according to her, it tasted too much sugar, prompting her to post about it on Facebook. It was reported that Erisco was not happy with the negative review. She

By Dipo Olowookere Operations of Yuan Dong (YDEC), which claimed to be an investment company in Nigeria, have been declared illegal by the Securities and Exchange Commission (SEC) and has subsequently sealed up the business premises of the firm. The agency disclosed that on Thursday, February 23, 2017, pursuant to its non-tolerance policy of unhealthy practices in the market, and in exercise of its powers enshrined in Section 13 (w) of the ISA 2007, it “sealed up” the premises of Yuan Dong in order to completely put an end to the unlawful activities of the company against unsuspecting investors. A

By Modupe Gbadeyanka The positive momentum recorded by Oando Plc in its 2017 financial year was maintained in the Q1 2018 earnings, Business Post has observed in the financial statements of the energy firm for the period ended March 31, 2018. In the period under review, the company declared a profit after tax of N4.1 billion with turnover increasing by 9 percent to N150.5 billion from N138.4 billion in the corresponding period of last year. Also, the gross profit appreciated by 108 percent to N27.9 billion from N13.4 billion achieved in Q1 2017. According to the group CEO of Oando

By The Trade Coin Club When Bitcoin came into the limelight, it was barely nothing. I remember an article in 2013 where a man bought a burger with 10,000 Bitcoin. If that individual still has the 10,000 Bitcoin (or BTC) in 2017, then he would be $10,344,400 (NGN 3,620,540,000) richer. I guess the man’s second and even third generation won’t need to labour so much. To cut the long story short, if you have not invested in Bitcoins yet, you need to. In the next couple of years, Bitcoin is going to be worth up to $2000 per Bitcoin; as

By Sodeinde Temidayo David Nigerian Exchange (NGX) Limited has released an improved version of its mobile app, X-Mobile, to enhance investors’ participation and access to the Nigerian capital market. The X-mobile, a dynamic and user-friendly mobile app, which was first launched in 2019 in a beta state, now accessible on various mobile stores, provides market participants, especially retail investors with convenient, faster and real-time access to information about NGX, its listed securities and trading license holders. According to the NGX, some of the key features of the X-Mobile include market news feed, snapshots and analytics, securities prices, financial and market

By Adedapo Adesanya Brent crude dipped by 5.7 per cent or $4.56 to $108.18 per barrel on Wednesday as the market fears a looming recession would drive down global oil demand. Also, the price of the US West Texas Intermediate (WTI) crude was down by 6.24 per cent or $5.26 during the session to settle at $102.77 per barrel as analysts project that the action taken by the US Federal Reserve to rein in inflation with aggressive interest rate hikes may not produce the desired effect and will actually lead to a recession within a year or a year and

At the end of the year – especially this year, companies and management teams usually take stock of how the company has performed. With the tough times that many businesses have been plagued with recently, many aren’t able to afford big bonuses or any monetary rewards at all. There are, however, other ways that you can reward staff at the end of this year and even throughout next year. Gift vouchers If full bonuses are off the cards right now but your staff still deserve a reward, consider vouchers as a token of appreciation that can be given to employees.

By Modupe Gbadeyanka On Wednesday, August 29, 2018, the 26th OTC FX Futures contract, NGUS AUG 29 2018, with contract amount of $349.44 million, matured and settled on FMDQ. According to FMDQ OTC Exchange, this maturity brings the total value of matured Naira-settled OTC FX Futures contracts on the platform, since the inception of the market in June 2016, to about $11.02 billion. Business Post reports that the total value of the OTC FX Futures contracts traded so far is about $14.99 billion. The contract, which stopped trading on August 21, 2018, was valued for settlement against the Nigerian Autonomous

By Ahmed Rahma To address the unique challenges arising from the pandemic, lift people out of poverty and create sustainable employment across the continent, the Tony Elumelu Foundation Entrepreneurship Programme is set to empower over 3,500 young African entrepreneurs in collaboration with global partners. The foundation, which celebrated 10 years of impact in 2020, is empowering a new generation of African entrepreneurs through the TEF Entrepreneurship Programme which application has been disclosed to close on March 31. From the programme, successful applicants are to receive world-class business training, mentorship, non-refundable seed capital up to $5,000, and global networking opportunities. Speaking