Economy
ReelFruit, Others Unveil Job-matching Scheme for Nigerian Youths
By Dipo Olowookere
A training and job-matching scheme aimed to address the high unemployment rate in Nigeria has been unveiled by the trio of ReelFruit, Temploy, and Made Culture.
The organisation, at a parley with newsmen last Friday, disclosed that the initiative, ReelSkills for Agribusiness, will be used to train about 1,000 youths on technical and soft skills demanded by Small and Medium Enterprises (SMEs) within the Agri-processing sector in Nigeria.
This programme, according to them, will improve economic opportunities for Nigerian youths as applications for the next cohort are ongoing on bit.ly/joinreelskills2b with additional information on https://temploy.ng/reelskills/.
Business Post gathered that this scheme is funded by the Netherlands Government under the Challenge Fund for Youth Employment (CFYE).
It will be used to equip Senior Secondary Certificate of Education (SSCE) holders and Ordinary National Diploma (OND) between the ages of 18 and 35-years with skills in Food Safety and Processing, Digital Sales and Marketing.
The first batch of trainees selected based on their availability, qualification as an OND or SSCE holder, and desire to begin a career in the Agri-processing sector, have officially been trained and are keen on embarking on the job-matching and a lifelong career in Agri-processing.
“Having realised that the Agri-processing sector offers enormous opportunities, we are thrilled to have partnered with Temploy and Made Culture on this initiative that will enable us not only to build potential but also offers us the opportunity to equip young Nigerians who have the interest to grow this sector,” the founder and Chief Executive Officer, ReelFruit, Ms Affiong Williams, said.
“We are committed to building the Agri-processing sector and creating opportunities for young people. We believe that we can build and support more entrepreneurs within this sector through this initiative and we are happy to have kicked off this initiative that will transform the processing and manufacturing ecosystem,” she further said.
On her part, the CEO of Temploy Nigeria, Ms Juyin Benson, stated that, “Temploy is delighted to be collaborating with ReelFruit and Made Culture to build the capacity of young Nigerians.
“We are devoted to recruiting, training and equipping 1000 youths within Lagos and Ogun state over the next three years with digital and technical skills that will prepare them for a career in the Agri-processing sector”.
Also, the founder and Principal Director of Made Culture, Ms Malaika Toyo, revealed that “I believe passionately in using small-to-medium enterprises as skills development hubs for youth.
“In our quest to tackle Nigeria’s unemployment crisis, we hope to articulate the needs of the labour market to inform how we can provide lifelong learning skills that will improve the lives of young Nigerians.”
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
Economy
Naira Slips to N1,358/$1 as FX Reserves, Policy Uncertainty Concerns
By Adedapo Adesanya
It was not a good day for the Nigerian Naira in the currency market on Friday, April 24, as its value depreciated against the major foreign currencies at the close of transactions.
In the Nigerian Autonomous Foreign Exchange Market (NAFEX), it lost N4.53 or 0.33 per cent against the United States Dollar yesterday to trade at N1,358.44/$1, in contrast to the N1,353.91/$1 it was exchanged on Thursday.
Equally, the domestic currency slipped against the Pound Sterling in the official market during the session by N8.14 to close at N1,834.02/£1, compared with the previous rate of N1,825.88/£1 and dropped N8.01 against the Euro to sell at N1,590.73/€1 versus N1,582.72/€1.
Also, the Naira depreciated against the US Dollar at the GTBank FX desk on Friday by N4 to quote at N1,370/$1 compared with the previous session’s N1,366/$1, and at the parallel market, it depleted by N5 to settle at N1,380/$1 versus the preceding day’s N1,375/$1.
Data published by the Central Bank of Nigeria (CBN) indicated that NFEM interbank turnover surged to N43.562 million across 68 deals, up from N28.117 million the previous day.
Despite the CBN’s reassurance that the recent drop in external reserves is not worrisome, the market remains unsettled by persistent concerns over liquidity constraints, policy transparency, and weakening confidence in Nigeria’s FX market as gross reserves continue to decline to $48.4 billion.
The outlook for the Dollar appears supported by broader macro risks, including elevated oil prices tied to the tanker traffic disruptions in the Strait of Hormuz and a continued US-Iran standoff over ceasefire negotiations.
A look at the digital currency market showed that investors are sitting on the edge as the US Dollar rebounded amid geopolitical and inflation risks despite continued inflows into US spot bitcoin Exchange Traded Funds (ETFs).
Solana (SOL) rose by 1.2 per cent to sell $86.45, Cardano (ADA) appreciated by 1.1 per cent to $0.2517, Dogecoin (DOGE) grew by 0.9 per cent to $0.0989, Ripple (XRP) improved by 0.3 per cent to $1.43, Ethereum (ETH) soared by 0.2 per cent to $2,316.83, and Binance Coin (BNB) chalked up 0.1 per cent to sell for $637.44.
However, TRON (TRX) depreciated by 1.3 per cent to $0.3235, and Bitcoin (BTC) lost 0.2 per cent to close at $77,562.27, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 each.
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