Economy
Reasons Why a Financial Advisor Can Help Your Business
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.
By Adedapo Adesanya
The Organisation of the Petroleum Exporting Countries (OPEC) has once again trimmed its 2024 and 2025 oil demand growth forecasts.
The bloc made this in its latest monthly oil market report for December 2024.
The 2024 world oil demand growth forecast is now put at 1.61 million barrels per day from the previous 1.82 million barrels per day.
For 2025, OPEC says the world oil demand growth forecast is now at 1.45 million barrels per day, which is 900,000 barrels per day lower than the 1.54 million barrels per day earlier quoted.
On the changes, the group said that the downgrade for this year owes to more bearish data received in the third quarter of 2024 while the projections for next year relate to the potential impact that will arise from US tariffs.
The oil cartel had kept the 2024 outlook unchanged until August, a view it had first taken in July 2023.
OPEC and its wider group of allies known as OPEC+ earlier this month delayed its plan to start raising output until April 2025 against a backdrop of falling prices.
Eight OPEC+ member countries – Saudi Arabia, Russia, Iraq, United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman – decided to extend additional crude oil production cuts adopted in April 2023 and November 2023, due to weak demand and booming production outside the group.
In April 2023, these OPEC+ countries decided to reduce their oil production by over 1.65 million barrels per day as of May 2023 until the end of 2023. These production cuts were later extended to the end of 2024 and will now be extended until the end of December 2026.
In addition, in November 2023, these producers had agreed to voluntary output cuts totalling about 2.2 million barrels per day for the first quarter of 2024, in order to support prices and stabilise the market.
These additional production cuts were extended to the end of 2024 and will now be extended to the end of March 2025; they will then be gradually phased out on a monthly basis until the end of September 2026.
Members have made a series of deep output cuts since late 2022.
They are currently cutting output by a total of 5.86 million barrels per day, or about 5.7 per cent of global demand. Russia also announced plans to reduce its production by an extra 471,000 barrels per day in June 2024.
By Aduragbemi Omiyale
A minority equity stake in Chappal Energies Mauritius Limited has been acquired by a Nigerian energy firm, Aradel Holdings Plc.
This deal came a few days after Chappal Energies purchased a 53.85 per cent equity stake in Equinor Nigeria Energy Company Limited (ENEC).
Chappal Energies went into the deal with Equinor to take part in the oil and gas lease OML 128, including the unitised 20.21 per cent stake in the Agbami oil field, operated by Chevron.
Since production started in 2008, the Agbami field has produced more than one billion barrels of oil, creating value for Nigerian society and various stakeholders.
As part of the deal, Chappal will assume the operatorship of OML 129, which includes several significant prospects and undeveloped discoveries (Nnwa, Bilah and Sehki).
The Nnwa discovery is part of the giant Nnwa-Doro field, a major gas resource with significant potential to deliver value for Nigeria.
In a separate transaction, on July 17, 2024, Chappal and Total Energies sealed an SPA for the acquisition by Chappal of 10 per cent of the SPDC JV.
The relevant parties to this transaction are working towards closing out this transaction and Ministerial Approval and NNPC consent to accede to the Joint Operating Agreement have been obtained.
“This acquisition is in line with diversifying our asset base, deepening our gas competencies and gaining access to offshore basins using low-risk approaches.
“We recognise the strategic role of gas in Nigeria’s energy future and are happy to expand our equity holding in this critical resource.
“We are committed to the cause of developing the significant value inherent in the assets, which will be extremely beneficial to the country.
“Aradel hopes to bring its proven execution competencies to bear in supporting Chappal’s development of these opportunities,” the chief executive of Aradel Holdings, Mr Adegbite Falade, stated.
By Adedapo Adesanya
Afriland Properties Plc helped the NASD Over-the-Counter (OTC) Securities Exchange record a 0.04 per cent gain on Tuesday, December 10 as the share price of the property investment rose by 34 Kobo to N16.94 per unit from the preceding day’s N16.60 per unit.
As a result of this, the market capitalisation of the bourse went up by N380 million to remain relatively unchanged at N1.056 trillion like the previous trading day.
But the NASD Unlisted Security Index (NSI) closed higher at 3,014.36 points after it recorded an addition of 1.09 points to Monday’s closing value of 3,013.27 points.
The NASD OTC securities exchange recorded a price loser and it was Geo-Fluids Plc, which went down by 2 Kobo to close at N3.93 per share, in contrast to the preceding day’s N3.95 per share.
During the trading session, the volume of securities bought and sold by investors increased by 95.8 per cent to 2.4 million units from the 1.2 million securities traded in the preceding session.
However, the value of shares traded yesterday slumped by 3.7 per cent to N4.9 million from the N5.07 million recorded a day earlier, as the number of deals surged by 27.3 per cent to 14 deals from 11 deals.
Geo-Fluids Plc remained the most active stock by volume (year-to-date) with 1.7 billion units sold for N3.9 billion, trailed by Okitipupa Plc with 752.2 million units valued at N7.8 billion, and Afriland Properties Plc with 297.5 million units worth N5.3 million.
Also, Aradel Holdings Plc remained the most active stock by value (year-to-date) with 108.7 million units worth N89.2 billion, followed by Okitipupa Plc with 752.2 million units valued at N7.8 billion, and Afriland Properties Plc with 297.5 million units sold for N5.3 billion.
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