Promasidor to Revive Ikun Dairy Farm for Local Milk Production

By Aduragbemi Omiyale The sum of N75 million has been disbursed to 15 small and medium-sized businesses (SMBs) in Nigeria to support their expansion drive. The funding package was given by Google’s Hustle Academy, with beneficiaries drawn from various industries, including agriculture, and fashion, among others. The 15 Nigerian small business owners were among the 5,300 entrepreneurs who graduated from the academy, designed by the tech giant to provide an avenue for participants to enhance their business skills and knowledge, and contribute to the growth of the continent’s economy. The recipients of the funding support are Ifeoma Augusta Anselem of

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 Dipo Olowookere The Nigerian Exchange (NGX) Limited posted a 0.25 per cent growth at the close of trading activities on Friday, influenced by persistent bargain-hunting. Business Post reports that the market breadth index was positive yesterday after 33 stocks closed on the gainers’ chart and 21 equities ended on the losers’ table, indicating a strong investor. Secure Electronic Technology was the best-performing stock for the trading session as its value rose by 10.00 per cent to 55 Kobo, followed by MeCure, which gained 9.90 per cent to close at N9.21, Neimeth appreciated by 9.85 per cent to N2.23, Multiverse

By Bliss Okperan, Adedapo Adesanya  The cost of cooking a pot of jollof rice, one of the most consumed foods daily in Nigeria, has surged by 37.4 per cent, according to research carried out by Business Post. Using market data and the most recent food price watch by the National Bureau of Statistics (NBS), major food items in making the delicacy, including rice, groundnut oil, tomatoes, and onions, among others have recorded a massive increase within the past year, making it hard for the average Nigerian to survive. According to NBS, 1 kilogram of Rice cost N757.06 in 2023 as

It’s been a mixed season for Manchester United but there is still a chance that the Red Devils will end the campaign with some major silverware. Having briefly led at the top of the Premier League table, United have slipped back while bitter rivals Manchester City have established a big lead. The EPL title may be gone but United can now focus on the Europa League. Thanks to the misfortune of another English club, Ole Gunnar Solskjaer’s side have a clearer path to the trophy. Spurs Slip Up Tottenham Hotspur had been favourites to win the Europa League for some

By Dipo Olowookere The Jigawa State House of Assembly has impeached its Speaker, Mr Idris Garba, over allegations bordering on high handedness and abuse of power. Clerk of the Assembly, Mr Hussaini Ali, informed the lawmakers that he received an impeachment notice signed by 25 of the 30 assembly members, which he read on the floor. During the plenary on Tuesday morning presided over by the Deputy Speaker, Mr Ahmed Garba, and attended by 23 members, the Assembly emphasised that due to the allegations, it was necessary to have a new leader. After Mr Garba was impeached as Speaker, the

By Modupe Gbadeyanka Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has lambasted banking industry operators who claimed that the introduction of the Treasury Single Account (TSA) have stifled their operations. Mr Emefiele rather affirmed that TSA was one of the best and boldest decisions any administration in the country had so far taken. He made this disclosure while delivering a lecture at the National Institute of Policy and Strategic Studies in Kuru, Plateau State, at the weekend. According to him, the impression that the TSA was stifling banks was created to draw unnecessary sympathy and “it

By Adedapo Adesanya The market capitalisation of the NASD Over the Counter (OTC) Securities Exchange returned to the N500 billion region on Friday after it appreciated by 0.26 per cent. This was buoyed by the price appreciation recorded by the shares of FrieslandCampina WAMCO Nigeria Plc, which are traded on the platform. Business Post reports that the equity price of the milk maker at the unlisted securities market increased by N1.34 or 1.1 per cent to settle at N120.34 per unit in contrast to N119 per unit of the previous day. As a result of this growth, the market capitalisation improved by

By Modupe Gbadeyanka President Muhammadu Buhari is departing Abuja on Sunday, May 16, 2021, to Paris, the French capital, to participate in the African Finance Summit. Mr Buhari will be in the European country for days and would use the opportunity to have talks with his French counterpart, Mr Emmanuel Macron, on other matters, including security. The African Finance Summit is focused on reviewing the African economy, following shocks from the Coronavirus pandemic, and getting relief, especially from increased debt burden on countries. It is hosted by Mr Macron and will draw major stakeholders in the global finance institutions and

By Modupe Gbadeyanka The sum of $210 million was pumped into the foreign exchange market on Wednesday in order to provide lifeline to the local currency. This brought about stability of the Naira at the currency market yesterday, with the local currency quoting at N361 to a Dollar in the BDC segment of the market. The Central Bank of Nigeria (CBN), which released the $210 million into the market, said in a statement that it offered $100 million to the wholesale segment. Also, the small and medium scale enterprises (SMEs) segment received the sum of $55 million, while the invisibles

By Adeniyi Ogunfowke Since the entry of eCommerce in Nigeria, it has grown in leaps and bounds. Of course, it has been robustly and economically pioneered by Jumia, Nigeria’s no 1 shopping destination. These have been boosted in no small measure by increased mobile penetration where there is a sudden shift from PC to Mobile. Today, e-Commerce platforms have disrupted traditional ways of doing business in Nigeria and will continue to thrive. Here are the reasons why. Convenience This is the ultimate reason why eCommerce will continue to survive in Nigeria. Nobody wants to return to the days of running