NNPC Joins EITI for Better Transparency

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange recorded yet another positive week-on-week performance after stretching its gains by 1.44 per cent in Week 47. This expanded the portfolios of NASD investors by N17 billion in the week to N1.162 trillion from the N1.145 trillion recorded in Week 46, as the NASD Unlisted Security Index (NSI) increased by 12.16 points to 857.29 points from 845.13 points in the previous week. The trading week was with three price gainers and three losers, with Aradel Holdings Plc on top of the advancers’ chart after it grew by 10 per cent to finish

By Adedapo Adesanya  Nigeria’s economy, measured through its gross domestic product (GDP), witnessed a 2.54 per cent growth in the third quarter (Q3) of the year 2023. In a report published on Friday by the National Bureau of Statistics (NBS), the 2.54 per cent year-on-year growth in real terms in the third quarter of 2023 is higher than the 2.25 per cent recorded in the third quarter of 2022 and higher than the second quarter 2023 growth of 2.51 per cent. The bureau further said that the performance of the GDP in the third quarter of 2023 was driven mainly by

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 After series of negotiations, warnings of strike actions and intervention, the Ondo State government has agreed with labour unions to pay the new N30,000 minimum wage from January. This disclosure came after labour unions led by the Nigeria Labour Council (NLC), Joint Negotiations Council (JNC) and Trade Union Congress of Nigeria (TUC) met legislative, judiciary and other top government functionaries to sign the agreement. After the meeting on Saturday, January 25, the labour leaders agreed on full payment of the new wage from level six downwards, while level seven above will have to contend with consequential adjustments.

Pan-African entrepreneurial training program, seed fund and incubator, MEST Africa, has officially announced its fourth annual MEST Africa Summit, in collaboration with Microsoft. The 3-day event will take place in Nairobi, Kenya from June 10 – 12, 2019, at the Radisson Blu Hotel as well as the home of MEST Africa’s Nairobi incubator – the Nairobi Garage. The Pan-African tech conference, the MEST Africa Summit brings together leading entrepreneurs, investors, ecosystem players and executives from across Africa and globally to explore the latest innovations and rising stars in the African tech ecosystem. In addition to panel discussions driven by the

By Adedapo Adesanya The total capital importation into Nigeria in the first three months of 2023 stood at $1.13 billion, as it dropped 28 per cent compared to $1.57 3 billion recorded in the same period of last year. Capital importation refers to the movement of money into Nigeria from other countries for the purpose of investment, trade, or business operations. They are divided into three main investment types: Foreign Direct Investment (FDI), Portfolio Investment, and Other Investments, each comprising various sub-categories. According to the National Bureau of Statistics (NBS) in its Nigerian Capital Importation -Q1 2023 report, at $1.13

By Dipo Olowookere A leading data centre, Rack Centre, has secured a BSI ISO 45001 certification, an international standard for health and safety work developed by national and international committees, independent of governments. The BSI ISO 45001 is designed to help organisations of all sizes and industries put in place a safe working environment for their employees and will amongst other benefits enable Rack Centre to reduce workplace injuries, and illnesses and create better, safer working conditions. The cloud-neutral Tier III data centre in West Africa is one of the few in the region to obtain the BSI ISO 45001

By Dipo Olowookere The first trading session of the new week closed on a positive note at the Nigerian Exchange (NGX) Limited on Monday, appreciating by 1.11 per cent. Bargain-hunting in local equities sustained the upward trend recorded during the trading session as investors locked in funds in banking and consumer goods stocks. Data from the bourse revealed that the banking space gained 5.65 per cent, and the consumer goods sector appreciated by 1.57 per cent. During the session, the insurance counter lost 2.81 per cent, and the industrial goods index depreciated by 0.14 per cent, while the energy space

Have you ever heard of prop trading companies? They’re like powerful teams that look for skilled traders to use their expertise in trading assets. These companies give traders a chance to show off their skills by using the company’s money to make profits and earn commissions. Imagine this: you could get funded with different amounts, from $500 to even millions, and use your trading skills and tools to make money. And guess what? Traders Union experts have done research to list the top 5 Forex prop firms in Brazil for 2023. These firms give you an amazing opportunity to do

By Kester Kenn Klomegah Mozambican President Filipe Nyusi and French Total Energies CEO Patrick Pouyanné witnessed, in late January, the signing and exchange of fresh additional agreements that permit prompt resumption of the natural gas exploration projects in Cabo Delgado, northern Mozambique. The construction of the gas liquefaction plant, extracted from the seabed (about 40 kilometres offshore) is the largest currently financed private investment in Africa. But, the natural gas project was suspended in March 2021 after an armed attack that left the province devastated, with about 3,100 deaths and more than 817,000 residents displaced. At the modest ceremony, President

By Modupe Gbadeyanka Those who use counterfeit electrical products could be putting their lives and their families at risk, Eaton, a global power management company has warned. This is why the firm has embarked on an anti-counterfeit sensitisation exercise amongst trade partners and end-users to avert disasters. At the Jankara Electrical market located in the heart of Lagos Island, the company educated and enlightened both resellers and users on how to identify at-risk and suspect packaging, extraneous marks or labelling, lookalikes, non-compliant and counterfeit products. Counterfeit electrical products can result in a higher risk of failure or malfunction. Such failures