Economy
Reasons Why a Financial Advisor Can Help Your Business
![Financial Advisor](https://businesspost.ng/wp-content/uploads/2022/08/Financial-Advisor.jpg)
The best way to think about a financial advisor is that they are someone who can help you out significantly when you are working on growing your business. There are a variety of ways that this happens, and we want to take a look at some of the most useful things that a financial advisor can do to help you out.
Business Owners Need Financial Advisors Immediately
It is always a juggle to try to balance one’s personal finances, and that doesn’t even take into account what can happen when one is also trying to balance the budget of a business that they are running. This is why it is recommended that you get a financial advisor here to help you out with every aspect of your personal and business finances.
A financial advisor can let you know exactly how much money is flowing through your business and the steps that you may need to take to secure as many of those funds as you can for the future. This is to say that you may choose to work with a financial advisor to simply get the details that you need about how to balance out the zeros and ones that make up your entire budget.
Another thing that you can get from a financial advisor for your business are some great projections about the direction where your business is likely to head in the future. They can read the numbers in ways that are useful for you to project out what the future may look like for yourself and your team. Believe it or not, just having some accurate figures like this may be exactly what you need to figure out which steps to take next.
Find Some Cost Savings
Looking for ways to save money is wise both for individuals who are working on their personal budgets, and also for businesses that are attempting to save down the budget ever so slightly. It is a great way to make sure the business is going to be able to stick around for the long run. Additionally, even a business that is very healthy and on the right track can benefit from a look at some ways to pare down costs. After all, a dollar saved is a dollar earned.
Financial advisors are great at identifying where there are savings to be had. They look at your budget in a non-judgemental way, and they can help you figure out exactly what you need to do in order to help bring about more savings in the long run. Once those factors have been identified, then you can work with the financial advisor to put real action steps into play to start to make the hard changes that are necessary to get the kind of results that you desire.
Manage Different Stages of Growth
Often, business owners don’t quite realize what stage of growth their business is in. They think that they need to use a certain approach that has worked well for them in the past. However, they may not be thinking about how they can adapt their approach to the circumstances that surround them instead. Different stages of growth require different levels of management and different strategic approaches. Don’t assume that what you have been doing to help grow your business up to this moment is going to work in exactly the same ways in the future.
Changing things up is healthy and normal for a business to do. You simply need to adapt to the conditions around you as they evolve. If you fail to do so, then you may end up losing ground to your competition very quickly. Financial advisors can guide your company through each stage of the growth process so you always know what you need to do in order to get the kind of results that you are looking for.
Personal Finances and Business Finances
A great financial advisor will help you set up both your personal finances and your business finances at the same time. After all, both of these things matter and need to be headed in the same upward direction. It is possible for you to align both things if you just work at it to take care of both matters at the same time. A financial advisor can provide you with the information and knowledge that you require to help get you the end results that you are looking for.
Trust in the abilities of your financial advisor to help lead you to the promised land. They are great at what they do, and they will happily show you the steps that you need to take to bridge where you are now and where you want to be in the future. Speak with them openly and honestly.
Economy
Nigeria Led Africa’s Upstream Oil, Gas Investments in 2024
![OPEC Global Oil Demand](https://businesspost.ng/wp-content/uploads/2024/11/OPEC-Global-Oil-Demand.jpeg)
By Adedapo Adesanya
Nigeria ranked as Africa’s leading destination for upstream oil and gas investment in 2024, new research from market intelligence firm, Wood Mackenzie, has shown, accounting for three out of four Final Investment Decisions (FIDs) announced by global oil and gas majors, totaling $13.5 billion.
The FIDs announced within the Nigerian market included Shell’s $122 million investment in the Iseni Gas Project, TotalEnergies’ $566 million commitment to the Ubeta Gas Project and Shell’s approval of the Bonga North Tranche 1 project valued at around $5 billion.
According to the Special Adviser to President Bola Tinubu on Energy, Ms Olu Verheijen, these investments reflected Nigeria’s ongoing efforts to unlock its hydrocarbon potential through investor-friendly policies and strategic global partnerships.
Last year, Nigeria introduced several initiatives to create a conducive environment for oil and gas investors, including new tax incentives aimed at attracting up to $10 billion in natural gas investments.
Nigeria, which is Africa’s largest oil producer, also offered tax relief for gas investors, reducing corporate income tax and extending capital allowance benefits – for deepwater gas projects.
Other policies include the Presidential Directive on Local Content Compliance Requirements 2024 to address the reduction in oil and gas investments caused by high operating costs compared to global markets.
Also, the Presidential Directive on Reduction of Petroleum Sector Contracting Costs and Timelines 2024 reduces the time spent to award contracts for oil and gas projects.
In addition to the directives, Nigeria also launched its 2024 oil and gas licensing round, offering 19 blocks for exploration, demonstrating its commitment to continued collaboration with local, regional and international partners.
Market analysts note that with this momentum, further FIDs are anticipated, including TotalEnergies’ expected $750 million commitment to the Ima Shallow Gas Project in 2025.
Economy
UBN Property Triggers 0.22% Loss at NASD OTC Exchange
![UBN Property](https://businesspost.ng/wp-content/uploads/2023/01/UBN-Property.jpg)
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange recorded a 0.22 per cent decline on Monday, January 20, with the market capitalisation shedding N2.35 billion to close at N1.073 trillion compared with the preceding session’s N1.075 trillion and the NASD Unlisted Security Index (NSI) going down by 6.79 points to wrap the session at 3,105.12 points compared with 3,111.91 points recorded in the previous session.
It was observed that the loss recorded on the first trading day of the week was triggered by UBN Property Plc, which crashed by 20 Kobo to trade at N2.00 per share versus last Friday’s N2.20 per share.
However, the share price of Industrial and General Insurance (IGI) Plc went up by 4 Kobo to 40 Kobo per unit from 36 Kobo per unit, it could not stop the bourse from going down at the close of transactions.
The activity chart showed that on Monday, the volume of securities traded by investors increased by 57.9 per cent to 767,610 units from the 486,215 units traded in the preceding session, while the value of shares traded yesterday slumped by 17.7 per cent to N2.3 million from the N2.8 million recorded in the preceding trading day, as the number of deals declined by 14.3 per cent to 12 deals from the 14 deals carried out in the previous trading day.
At the close of transactions, FrieslandCampina Wamco Nigeria Plc remained the most active stock by value on a year-to-date basis with the sale of 4.1 million units worth N162.9 million, followed by Geo-Fluids Plc with a turnover of 9.1 million units valued at N44.0 million, and 11 Plc with the sale of 55,358 for N14.5 million.
Also, Industrial and General Insurance (IGI) Plc closed the day as the most active stock by volume on a year-to-date basis with 25.3 million units sold for N5.9 million, Geo-Fluids Plc came next with 9.1 million units valued at N44.0 million, and FrieslandCampina Wamco Nigeria Plc with 4.1 million units worth N162.9 million.
Economy
Naira Weakens to N1,550/$1 at Official Market, Gains N5 at Black Market
![Naira 4 Dollar](https://businesspost.ng/wp-content/uploads/2023/06/Naira-4-Dollar.jpg)
By Adedapo Adesanya
The value of the Naira weakened against the US Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Monday, January 20 amid FX pressures associated with this period.
Most people who came into the country for Christmas and New Year holidays are already going back and are in need of forex, putting pressure on the local currency.
Also, the poor performance of the domestic currency could be attributed to end to the 42-day access granted by the Central Bank of Nigeria (CBN) to Bureaux de Change (BDC) operators to buy forex at official price.
According to data from the FMDQ Securities Exchange, the Nigerian Naira lost 0.16 per cent or N2.47 on the greeback yesterday to sell at N1,550.05/$1, in contrast to last Friday’s rate of N1,547.58/$1.
Similarly, the Naira slumped against the Pound Sterling in the spot market on Monday by N23.39 to trade at N1,906.98/£1 versus N1,883.59/£1 and depreciated against the Euro by N23.14 to sell for N1,613.48/€1 compared with last Friday’s N1,590.34/€1.
However, in the parallel market, the Nigerian currency improved its value against the Dollar during the session by N5 to quote at N1,665/$1 compared with the previous session’s N1,670/$1.
As for the cryptocurrency market, it turned red yesterday as the US President, Mr Donald Trump, didn’t bring up the much-expected subject of crypto in his inauguration speech on Monday afternoon.
Mr Trump had promised a far more friendly crypto policy stance than the previous administration but in the long speech that announced his plans in the coming days, he didn’t make mention of Bitcoin or crypto.
Just over the weekend, the President ignited a speculative frenzy with the Friday evening launch of the Trump meme coin, which was shortly followed by a meme coin associated with his wife, Melania.
Dogecoin (DOGE) crumbled yesterday by 6.3 per cent to $0.3419, Solana (SOL) slumped by 4.7 per cent to $235.32, Cardano (ADA) fell by 3.6 per cent to $0.9777, and Litecoin (LTC) moderated by 1.9 per cent to $114.98.
Further, Ethereum (ETH) went down by 1.7 per cent to $3,241.36, Binance Coin (BNB) retreated by 1.4 per cent to $693.30, Ripple (XRP) depreciated by 1.2 per cent to $3.06, and Bitcoin (BTC) tumbled by 0.8 per cent to $101,746.99, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 each.
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