NNPC Unveils Plans to Sustain Products Supply Nationwide

Forex trading is an exciting and money-making venture, whether you do it as a hobby or a full-time job. In this article, Traders Union (TU) experts will talk about becoming a full-time trader and its advantages and disadvantages. They will also explain how much you can earn. Main steps to become a full-time trader So how to become a full-time trader? There are different options. TU’s analysts will explain each one: Forex prop company Pros: Access to funding: you can get funding from the company to increase your capital. Zero risk: your risk is low because the company provides the

By Adedapo Adesanya President Bola Tinubu has been charged by the Socio-Economic Rights and Accountability Project (SERAP) to investigate the allegations that over $15 billion of oil revenues and N200 billion budgeted to repair the refineries are missing and unaccounted for between 2020 and 2021, as documented by the Nigeria Extractive Industries Transparency Initiative (NEITI). In the letter dated September 23 and signed by SERAP deputy director, Mr Kolawole Oluwadare, the organisation urged him to “name and shame anyone suspected to be responsible for the missing and unaccounted for public funds and to ensure their effective prosecution as well as

By Adedapo Adesanya The Nigerian government is targeting an estimated $55.2 billion in oil and gas investments by 2030, according to the Special Adviser to the President Bola Tinubu on Energy, Mrs Olu Verheijen. She said the government has wrapped up a series of strategic engagements with 15 leading international and independent oil and gas companies operating in Nigeria. The President’s aide recently organised sessions in Lagos and Abuja in partnership with the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to review ways to improve the sector and address the nation’s revenue emergency whilst contributing to stabilising Nigeria’s economy. Involved in

By Adedapo Adesanya A 0.54 per cent growth was recorded by the NASD Over-the-Counter (OTC) Securities Exchange on Monday, September 25, after the duo of FrieslandCampina WAMCO Nigeria Plc and Central Securities Clearing System (CSCS) Plc witnessed improvements in the share prices. The milk producer gained N1.39 during the session to end at N73.59 per unit compared with last Friday’s value of N72.20 per unit, while the Nigerian depository company grew by 70 Kobo to sell at N18.20 per share versus N17.50 per share. At the close of transactions, the total value of the unlisted securities market jumped by N6.21

By Adedapo Adesanya Relative ease has returned to some parts of Nigeria already witnessing queues at petrol stations as the National Union of Petroleum and Gas Workers (NUPENG) suspended the planned strike by its affiliate member, Petroleum Tanker Drivers (PTD). Business Post had reported that the strike, which would have kicked off this morning, was shelved because of the intervention by the federal government. The South-West Zonal Chairman of NUPENG, Mr Tayo Aboyeji, said in Lagos that the suspension was to allow the union’s representatives and that of the government to address the issues at stake. He said, “The leadership

By Adedapo Adesanya The Naira depreciated further against the Dollar to N450/$1 at the parallel market of the foreign exchange market on Friday, April 24. This came as the scarcity of greenback at the market segment worsened due to the lockdown of Abuja, Lagos and Ogun States by the federal fovernment since March 30, 2020. From the first trading session of this week on Monday to yesterday, the Naira has weakened by N30 at the black market. On Friday, the local currency depreciated against the American Dollar by N20 to sell at N450/$1 as against N430/$1 it traded on Thursday.

By Adedapo Adesanya Oil prices edged slightly higher on Tuesday as the United States government forecast record global petroleum consumption next year and as the US Dollar neared seven-month lows. Brent futures rose 45 cents or 0.6 per cent to settle at $80.10 a barrel, while US crude ended 49 cents or 0.6 per cent higher at $75.12 per barrel. The US Energy Information Administration (EIA) said in its Short-Term Energy Outlook that global consumption of liquid fuels is forecast to reach 102.2 million barrels per day in 2024, driven primarily by growth in countries like India and China, reflecting

By Adedapo Adesanya Founder and Chairman of United Bank for Africa (UBA), Mr Tony Elumelu, has advocated massive private capital investment as well as increased support to youth development to drive economic growth on the continent. Mr Elumelu made this notion while he was speaking on a panel at the UK-Africa Investment Summit 2020 held in London. He stressed the need to invest in critical sectors of the economy such as electricity and human resources, stating that this will help the continent considering the huge population of Africa. “Africa needs massive private capital investment to enable us drive the sectors

By Dipo Olowookere Mr Greg Davis has been appointed by Ecobank Transnational Incorporated (ETI) as its Chief Financial Officer, and Group Executive, Finance. Mr Davis’ appointment was announced on Thursday and he will oversee and ensure strategic management of all financial and fiscal aspects of the bank’s finance operations. According to the company, his appointment follows a reorganisation at Ecobank in 2016, and a new strategy which provides a framework to serve customers more efficiently, while improving cost and risk management, and optimising the Group’s balance sheet. Mr Davis has an extensive experience and knowledge of the African banking landscape,

By Adedapo Adesanya The Lagos state government has announced a full return to the price of all bus rapid transit (BRT), Standard, and FLM with effective from Saturday, April 1. In a notice seen by Business Post on Tuesday, the Lagos Metropolitan Area Transport Authority (LAMATA) said it would be reverting all its regulated buses fare to a 100 per cent rate. Lagos State Governor, Mr Babajide Olusola Sanwo-Olu, had on Wednesday, February 8, 2023, approved a 50 per cent slash in bus fares following the cash crunch brought about by the recent currency swap. Now, following the supreme court

By Adedapo Adesanya The bears drilled their claws deeper into the NASD Over-the-Counter (OTC) Securities Exchange on Thursday, September 7, leaving the alternative bourse bleeding by 0.41 per cent at the close of business. This squeezed N4.52 billion from the market capitalisation of the NASD bourse, closing at N1.108 trillion compared with the previous day’s N1.113 trillion, as the NASD Unlisted Securities Index (NSI) went down by 3.22 points to end the day at 791.39 points, in contrast to Wednesday’s 794.61 points. The outcome was influenced by the N29.56 loss recorded by Aradel Holdings Plc, which closed at N461.00 per

By Dipo Olowookere Nigeria’s stock exchange went down by 0.12 per cent on Thursday after rebounding the previous day as a result of renewed profit-taking by investors. Data obtained by Business Post from the Nigerian Exchange (NGX) Limited showed that the selling pressure was across the sectors of the market. The insurance space was the worst hit yesterday as it lost 1.45 per cent. The energy index fell by 0.61 per cent, the banking counter depreciated by 0.38 per cent, the consumer goods sector shed 0.30 per cent, and the industrial goods counter closed flat. Consequently, the All-Share Index (ASI)