Producers Advocate Investment in Rubber for Economic Growth

By Adedapo Adesanya The return of the bears was averted at the NASD Over-the-Counter (OTC) Securities Exchange on Thursday by Central Securities Clearing System (CSCS) Plc, which helped the alternative bourse close marginally higher by 0.03 per cent. This slight growth increased the value of the OTC exchange by N380 million, closing relatively flat at N1.165 trillion, as the NASD Unlisted Security Index (NSI) increased by 0.27 points to end the day at 859.58 points compared with the previous day’s 859.31 points. During the trading day, the value of CSCS Plc went up by 8 Kobo to settle at N17.08

By Adedapo Adesanya Nigeria will accept and work with a production quota of 1.5 million barrels of crude oil per day in 2024 as the country aims to grow on the back of its oil resources, following a revision done by the Organisation of the Petroleum Exporting Countries and its allies, OPEC+. According to a statement issued by the Press and Public Relations unit of the Ministry of Petroleum Resources, Thursday’s meeting of the 23-man group addressed crucial aspects, including the completion of assessments by independent sources (IHS, Wood Mackenzie, and Rystad Energy) on the projected production levels for Angola,

By Adedapo Adesanya Crude oil prices fell on Thursday members of the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) agreed to voluntary output cuts for the first quarter of next year, falling short of market expectations. As a result, Brent crude futures lost 27 cents or 0.3 per cent to close at $82.83 per barrel, and the US West Texas Intermediate (WTI) crude futures went down by $1.90 or 2.4 per cent to $75.96 a barrel. On a monthly basis, Brent fell by 5.2 per cent while WTI was down by 6.2 per cent. Saudi Arabia, Russia

By Adedapo Adesanya The House of Representatives has pledged to stop international oil companies (IOCs) operating in the Niger Delta from divestment of their offshore assets without being accountable to the environment. The Chairman of the House of Reps Committee on Host Communities, Mr Dumnamene Dekor, said this during a technical session on the implementation of the Host Communities Development Trusts (HCDT), organised by Spaces for Change (S4C) with support from Ford Foundation. Mr Dekor raised the alarm that since the passage of the Petroleum Industry Act in 2021, host communities have not experienced any positive change, rather have remained

By Adedapo Adesanya The Naira appreciated against the US Dollar at the parallel market segment of the foreign exchange market on Wednesday, June 16. At the window, which caters for demands not met by the government-regulated channels, the local currency gained N3 in value on the US currency as it sold for N502/$1 against N505/$1 it quoted on Tuesday. Following the same pattern, the Nigerian currency gained N3 against the Pound Sterling as it wrapped the session at N713/£ compared to the previously traded rate of N716/£1. The local currency also appreciated at the segment on the Euro, this time

By Dipo Olowookere Major market indices at the local bourse pointed north on Monday, reversing the disappointing finish last Friday. At the close of transactions today, the Nigerian Stock Exchange (NSE) ended 0.45 percent higher as a result of gains recorded by stocks in the banking space. The All-Share Index (ASI) went up by 175.09 points to close at 38,844.32 points, while the market capitalisation grew by N63.4 billion to settle at N14.071 billion. Business Post reports that there was a huge demand in a stock in the Services sector of the market, emerging the most active sector at the

As part of drive to contribute to the growth of economic drive, Heritage Bank Plc has continued to support The Next Titan Season-six; in ensuring that the entrepreneurial targets of the Nigerian youths are attained. The Next Titan entrepreneurial reality TV show sponsored annually by the Heritage Bank Plc has unveiled the top 16 contenders for the season-6 of the competition. The 16 lucky candidates were selected from among 50 contestants who made it to the Bootcamp after the auditions that saw thousands of Nigerian young entrepreneurs jostle for selection at the audition centres in Lagos, Port Harcourt, Enugu and

By Dipo Olowookere The duo of Standard Chartered Bank and Airtel Africa Plc have come together to expand their operations on the continent. This partnership supports Airtel Africa’s efforts to expand the range and depth of its Airtel Money offerings across its 19 million customer base, with new products and services helping to promote the wider adoption of mobile money and increasing financial inclusion. A statement from Airtel Africa explained that the aim of the “strategic collaboration” is mainly to drive financial inclusion across key markets in Africa by providing customers with increased access to mobile financial services. Under the

By Modupe Gbadeyanka The Annual Powering Africa: Nigeria Investment Summit will take place from October 12-14, 2016, organisers have confirmed. The programme will hold in conjunction with the Federal Ministry of Power, Works and Housing as well as the Bayelsa State Government, the Nigeria Electricity Regulatory Commission (NERC), the Electricity Commission of Nigeria (ECN), the Transmission Company of Nigeria (TCN), the National Power Training Institute of Nigeria (NAPTIN) and the Nigeria Investment Promotion Commission (NIPC). The pre-meeting networking activities including the Powering Africa: Nigeria Golf Networking Day and the pre-meeting evening drinks reception hosted by Detail Solicitors will provide an

By Dipo Olowookere The management of Kaduna Electric has called for strong collaboration between the company and its customers to bring to an end the twin menace of energy theft and vandalism of power supply infrastructures. The Team Lead, Media and Community Relations of the firm, Mr Idris Muhammad, made the call during an interactive session with customers at Rigasa Area Office, Kaduna last Thursday. Kaduna Electric, in a statement issued over the weekend, attributed over 70 percent of unplanned outages and unannounced interruptions of power supply in its franchise area to the activities of the perpetrators of energy theft

If you wonder when it’s best to trade Forex to get the best results and what the best hours to maximize your returns are, this article is for you. Read on to get the answers to these questions and find out the best trading hours. While it can be a matter of personal preferences when to trade, and you can allocate your time depending on your daily schedule, let’s see when it’s best to enter the market to make higher profits and when it’s best to keep off trading. Best days to trade Forex You may have noticed that on

By Investors Hub Asian stocks turned in a mixed performance on Thursday after the U.S. Federal Reserve cut interest rates, as widely expected but indicated it is ready to hold off on further rate cuts for now. Investors also digested news that Chile has canceled the Asia-Pacific Economic Cooperation summit scheduled to be held in Santiago in mid-November, citing violent protests across the country. U.S. President Donald Trump and Chinese President Xi Jinping were due to meet at the summit to discuss and possibly sign phase one of a U.S.-China trade deal. Chinese shares fell after the release of weak