NSE Index Loses 0.19% to Reverse Gains

By Bliss Okperan A foremost content reader, FeedSpot, has named Business Post Nigeria as one of the Top 25 Nigeria Personal Finance Blogs. In the list, Business Post was placed in the 8th position, ranking among other reputable online platforms serving readers with quality and educative business and financial news reports and articles. In the top 10, FeedSpot listed Nairametrics as number one, followed by UBA Group, Financial Nigeria Magazine, Investors King, Cowrywise Blog, Financial Watch, MakeMoney, Business Post Nigeria, Nigeria Galleria Blog, and Money Matters with Nimi. Other platforms listed were LagosMums, Financengr, Rosabon Financial Blog, Ohimai Consulting Blog,

By Adedapo Adesanya Oil prices settled lower on Thursday even after Russia announced a ban on fuel exports, with Brent crude down by 23 cents to $93.30 a barrel while the US West Texas Intermediate crude (WTI) lost 3 cents to sell at $89.63 per barrel. Russia temporarily banned gasoline and diesel exports to all countries outside a circle of four ex-Soviet states with immediate effect to stabilize the domestic fuel market, the government said on Thursday. It said the ban did not apply to fuel supplied under inter-governmental agreements to Moscow-led Eurasian Economic Union members, including Belarus, Kazakhstan, Armenia

By Adedapo Adesanya The Nigeria Extractive Industries Transparency Initiative (NEITI) has disclosed that Nigeria saw a 65.7 per cent or N76.77 billion increase in earnings from the solid minerals sector in 2021 to N193.59 billion from the N116.82 billion achieved in 2020. This upward trajectory has been on for the past five years, according to a report from the agency. The Executive Secretary of NEITI, Mr Orji Ogbonnaya Orji, however, lamented that this is still abysmal considering the potential of the sector to the Nigerian economy. He said this while presenting the solid minerals sector report in Abuja, noting that

By Adedapo Adesanya The average price of Premium Motor Spirit (PMS), otherwise known as petrol, surged by 230.8 per cent on a year-to-year basis to N626.70 per litre in August 2023 versus N189.46 per litre in the same period of 2022. This is according to the National Bureau of Statistics (NBS) in its Premium Motor Spirit (Petrol) Price Watch (August 2023), which showed that the average retail price increased on a month-on-month basis by 4.39 per cent from N600.3 per litre in July. The skyrocketing cost of petrol came as President Bola Tinubu, during his inauguration speech on May 29,

By Adedapo Adesanya Manchester City Football Club Manager, Mr Josep ‘Pep’ Guardiola, has lost his mother, Mrs Dolors Sala Carri, aged 82 to coronavirus. In a statement on Twitter, the English top flight football outfit said, “The Manchester City family are devastated to report the death today of Pep’s mother Dolors Sala Carrió in Manresa, Barcelona after contracting coronavirus. She was 82 years old. “Everyone associated with the club sends their most heartfelt sympathy at this most distressing time to Pep, his family and all their friends.” Dolors was married to Pep’s father, Valenti, and was also mother to the

By Modupe Gbadeyanka A South African hotel and gaming group Sun International, has announced that it would leave Nigeria due to the dwindling economy. The company, which manages the Federal Palace Hotel, Lagos, also explained that it was leaving the country because of clashes with regulators. In January 2016, Sun International was probed by the Economic and Financial Crimes Commission (EFCC), with four of its South African staff detained. The anti-graft agency had explained that it investigated the company because of its initial investment in the Tourist Company of Nigeria (TCN). Announcing its exit from Nigeria on Monday, Sun International

Unswerving in its quest to create a veritable platform for building an entrepreneurial spirit in the country’s teeming youths, Fidelity Bank Plc has expanded the scope of the Fidelity Youth Empowerment Academy (YEA) in a bid to accommodate new areas of vocational training. On February 10, 2020, the bank in strategic partnership with Gazelle Academy commenced the seventh edition of the highly successful YEA at the Sokoto State University (SSU), Sokoto. Apart from the typical training on tailoring and make-up, participants will also be provided with requisite skills and first-hand knowledge in Fashion Designing, Cloth Embellishment, Cocktail and Phone Engineering

By Dipo Olowookere South Africa’s Health Minister, Dr Aaron Motsoaledi, announced that the price for Bedaquiline, a drug used in the country for the treatment of Multidrug-resistant TB (MDR-TB), would be reduced from R10,000 to about R5,400 a patient effective immediately. According to Minister Motsoaledi who made this announcement during his opening address at the 22nd International AIDS Conference taking place in Amsterdam, Netherlands, The price reduction would translate into a saving of close to R500 million for South Africa in just eight months. South Africa has been at the forefront in the replacement of the injectable phase of treating

By Adedapo Adesanya Italy’s antitrust regulator, AGCM, on Monday announced that it would fine Apple €10 million for misleading claims about the waterproof qualities of its iPhone products. The competition authority took issue with advertisements in which latest iPhone models were presented as water resistant for up to 30 minutes at depths ranging from one to four metres. “Customers were not properly warned that this could happen only during “specific and controlled laboratory tests” and “not under normal conditions of use,” AGCM noted in a statement. Apple was also fined for its refusal to fix under warranty, liquid-related damage as

By Dipo Olowookere Standard Chartered has announced the start of the second phase of its digital-only retail bank across Africa. In response to growing consumer demand for innovative banking services on the continent, the lender will launch its digital solution in four key markets during the first quarter of 2019 starting in Uganda in January, followed by Tanzania in February, with Ghana and Kenya to follow. Following the successful launch of Standard Chartered’s first digital retail bank in Côte d’Ivoire last year, the second phase builds on the original CDI platform that onboards clients in under 15 minutes and provides

By Aduragbemi Omiyale Funds worth over N270 million stashed in Zenith Bank and Polaris Bank linked to a former Governor have been forfeited to the federal government. Justice Ijeoma Ojukwu of the Federal High Court sitting in Abuja on Tuesday said since the former Governor of Zamfara State, Mr Abdulaziz Yari, could not prove how he got the money legitimately, it should be lost to the national government. Mr Yari, 52, governed Zamfara State for eights years between 2011 and 2019. The Independent Corrupt Practices and Other Related Offences Commission (ICPC) said while Mr Yari was in charge of the