The Recurring Challenge of Capital Spending

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange appreciated by 0.41 per cent in Week 48, with the market capitalisation gaining N4.77 billion to settle at N1.166 trillion from the N1.162 trillion it ended in Week 47, and the NASD Unlisted Security Index (NSI) rising by 3.52 points to 860.81 points from 857.29 points in the previous week. In the five-day trading week, the total volume of stocks traded slumped by 69.1 per cent to 4.22 million units from 13.6 million in the preceding week and equally, the value of shares dropped by 69.6 per cent to N41.4 million

By Adedapo Adesanya  The prices of the crude oil benchmarks, Brent and the West Texas Intermediate (WTI) fell to a near five-month low on Tuesday on a stronger US Dollar and demand concerns. According to data obtained by Business Post, Brent futures went down by 83 cents or 1.1 per cent to $77.20 a barrel and WTI weakened by 72 cents or 1.0 per cent to $72.32 per barrel. The prices were the lowest for both crude benchmarks since July 6. This put the market down for a fourth day in a row on doubts over voluntary supply cuts announced by

By Adedapo Adesanya The Nigerian National Petroleum Company (NNPC) Limited will alter how its crude cargoes are priced from January 2024. According to a new circular, the state oil company will start pricing its supplies against the monthly average of Dated Brent, the physical crude benchmark, raising worries that the nation’s barrels may become more risky. Prior to this latest move, Nigeria prices its crude cargoes based on Dated Brent’s average settlement in the five days after loading. NNPC plans to stick with the initial nominated loading dates for pricing purposes, according to the circular. Bloomberg reported that traders said

Cryptocurrencies, including Bitcoin and various alternatives, are no longer just investments for speculation. They represent a significant change in how people view and use money, providing decentralized options compared to traditional financial systems. According to a report by CoinJournal, which analysed owners of cryptocurrencies between 2020 and 2023, 47 per cent of Nigeria’s population are actively engaged with crypto, with Turkey experiencing a notable 31 per cent jump in cryptocurrency ownership from 2020 and currently shares the top spot with Nigeria, while 31 per cent of the people in the United Arab Emirates (UAE) own digital currencies in 2023. Nigeria

By Modupe Gbadeyanka It was a quiet trading day last Friday on the floor of the Nigerian Stock Exchange (NSE) with market succumbing to selling pressure to close 0.09 percent lower, making the year-to-date loss to swell to 15.80 percent. Business Post reports that during the trading session, the volume and value of equities transacted went down to 39.41 percent and 40.86 percent respectively. This was because the volume of equities traded decreased to 121.3 million from 200.1 million, while the value dropped to N1.6 billion from N2.7 billion. It was observed that the All-Share Index (ASI) also reduced during

Engaging in Forex trading with little or no upfront financial commitment is a desirable opportunity for many traders. This intriguing possibility is realized with Nigeria’s no-deposit bonus. Understanding this financial incentive can elevate your trading strategies and significantly impact your profit margins. Traders Union explained the no deposit bonus in Nigeria and provided a comprehensive guide for seasoned traders and novices to decipher this financial lure and make informed decisions. What is a Forex Bonus? According to TU experts, a Forex bonus is free funds a broker gives to a trader under certain conditions. Often, registration and personal data confirmation

By Modupe Gbadeyanka President Muhammadu Buhari has disclosed that Federal Government will finally launch the first African Sovereign Green Bond in December 2017. The green bond was initiated in Nigeria by the former Minister of Environment, Mrs Amina Mohammed, who is now the Deputy Secretary General of the United Nations. The green bond was supposed to be launched in the middle of this year, but it never happened. About N20 billion is expected to be generated from the first tranche of the exercise, while the second tranche is about the same amount and would be used to fund renewable energy,

By Dipo Olowookere The Central Bank of Nigeria (CBN) has disclosed that the mortgage industry can raise the country’s Gross Domestic Product (GDP) to 70 to 80 percent. This was the view of the Director of Other Financial Institution Supervision Department (OFISD) of the CBN, Mr Ahmed Abdullahi at the 12th edition of annual Mortgage Banking Sub-sector CEOs’ annual retreat held in Abuja on Saturday. The event, organised by the Mortgage Banking Association of Nigeria (MBAN), is with the theme, ‘Mortgage Banking Sub-sector as a tool for Economic Development: Increasing Homeownership in Nigeria.’ Mr Abdullahi noted that investment in housing

Some employees of the University of Abuja on Monday morning staged a peaceful demonstration in Gwagwalada. The protesting varsity workers claimed they were being owed backlog of salaries. They asked the university authorities to meet their demands before things get out of hands. The demonstrating employees, carrying various placards with different messages, also urged President Muhammadu Buhari to swing into action and ensure their salaries, running into months, are paid promptly. They also called for the release of the 2015 White Paper and further asked the President to save the school from total collapse.

By Investors Hub European stocks are turning in a lackluster performance on Wednesday as doubts grow over the prospects of a Brexit deal. Brexit talks are at an impasse as EU and U.K. officials resume Brexit negotiations later today ahead of a summit of EU leaders on Thursday. “The fate of Brexit negotiations depend on London moving with technical negotiations having now reached an impasse,” Bloomberg reported today, citing sources familiar with talks. The report claims that the negotiations could collapse amid Democratic Unionist Party pushback to the proposed deal. While the German DAX Index has edged up by 0.2

By Adedapo Adesanya Socio-Economic Rights and Accountability Project (SERAP) has urged President Muhammadu Buhari to investigate his administration’s poverty alleviation programmes following the disclosure that over 130 million Nigerians are multidimensionally poor. In a letter dated November 19, 2022, and signed by SERAP deputy director, Mr Kolawole Oluwadare, the organisation charged the president to “promptly set up a presidential panel of enquiry to thoroughly, impartially, effectively and transparently investigate spending on all social safety nets and poverty alleviation programmes and projects executed between 2015 and 2022.” SERAP also urged him “to ensure the findings of any such investigation are widely